Italy - Factors to watch on March 7

Fri Mar 7, 2014 3:01am EST

The following factors could affect Italian markets on Friday.

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).

POLITICS

Milan, verdict expected in Milan derivatives appeal.

ECONOMY

ISTAT release January producer prices data (1000 GMT).

Bank of Italy releases February data on European Central Bank's funding to Italian banks.

DEBT

Treasury announces sale of BOTs, with relative amounts to be auctioned on March 12.

COMPANIES * TELECOM ITALIA

Italy's largest phone group Telecom Italia will not pay the 2013 dividend on its ordinary shares as it reached its debt-cutting target and said it continued to focus on much-needed network investment.

INTESA SANPAOLO, PIRELLI

Italy's biggest retail bank said on Thursday it had completed the sale of its 1.5 percent stake in the tyremaker announced earlier in the day, it said on Thursday.

Intesa plans to cut 200 managerial positions, La Stampa said on Friday, citing the bank's chief operating officer Francesco Micheli.

* MONTE DEI PASCHI DI SIENA

The sale of a stake of around 10 percent by the bank's biggest investor was probably blocked at the last minute on Wednesday and could go ahead within hours, Il Sole 24 Ore said on Friday, without giving a source. The Monte dei Paschi foundation denied press reports on Thursday that it had sold a stake of at least 8 percent in Italy's third-largest bank.

Il Sole also said the foundation was ready to sell a packet of shares and the paper listed BlackRock, sovereign funds and hedge funds among most likely interested.

The foundation is also in talks with Qadic to buy part of its stake in the lender, La Stampa and Corriere della Sera said on Friday.

* ENI

Kazakhstan is suing the multinational consortium developing the huge Kashagan oilfield in the Caspian Sea for 134.2 billion tenge ($737 million) over damage to the environment, the Environment Protection Ministry said on Friday.

ITALCEMENTI

The Italian cement maker said on Thursday its board had approved the launch of a rights issue worth up to 450 million euros ($623 million) as part of a wider plan to boost its capital base and streamline its structure.

* SORGENIA, CIR

Italian energy company Sorgenia has proposed a capital increase of 190 million euros, La Repubblica said.

GEOX

The Italian casual shoemaker said sales fell 7 percent to 754.2 million euros in 2013, in line with company and analyst expectations, and said sales should rise in 2014 as it continues with a turnaround plan.

D'AMICO INTERNATIONAL SHIPPING

The main shareholder in the group has launched a placement of up to 42.2 million shares, or about 10 percent in the Italian shipper, the company said on Thursday.

The company said on Friday it had sold

MOVIEMAX MEDIA GROUP

The company said on Thursday it was ready to give information to Italian prosecutors who have blocked a current account it holds at a Swiss bank.

TRIBOO MEDIA

Online advertising company listing at AIM segment.

PARMALAT

Conference call on FY results (1530 GMT).

* POSTE ITALIANE, GENERALI

The chief executive of insurer Generali, Mario Greco, could be added to the list prepared by head hunters of possible candidates to head the Italian postal service, which is due to list a 40 percent stake, Il Sole 24 Ore said on Friday.

Board meetings on FY results: ANSALDO STS followed by conference call (1700 GMT), ATLANTIA, CEMENTIR (preliminary FY results on Feb. 5), CENTRALE LATTE TORINO, ENEL GREEN POWER (preliminary results on Feb. 3) followed by conference call, VITTORIA ASSICURAZIONI .

For Italian market data and news, click on codes in brackets:

20 biggest gainers (in percentage)............

20 biggest losers (in percentage).............

FTSE IT allshare index

FTSE Mib index........

FTSE Allstars index...

FTSE Mid Cap index....

Block trades..........

Stories on Italy...... IT-LEN

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