Italy - Factors to watch on March 20

Thu Mar 20, 2014 3:57am EDT

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The following factors could affect Italian markets on Thursday.

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

ECONOMY

Italian economic growth may be no more than 0.5 percent this year, employers' confederation Confindustria said on Wednesday, warning that recovery prospects were weighed down by high taxes, inefficient bureaucracy and tight credit conditions.

COMPANIES

TELECOM ITALIA, ENI

Telecom Italia's largest shareholder, Telco, has proposed as new non-executive chairman Giuseppe Recchi, currently the chairman of energy group Eni, in a list of mostly independent candidates for the phone group's new board.

Second-largest shareholder Marco Fossati has proposed veteran Italian business executive Vito Gamberale as chairman.

FINMECCANICA,,

The Italian aerospace and defence group on Wednesday reported net profit of 74 million euros ($103 million)for 2013 after two years in the red due to heavy writedowns, and predicted slightly lower revenue but a rise in core earnings.

The company releases full-year results on Thursday before the bourse opens, and will then host a conference call.

French aerospace, defence and transportation group Thales and Canada's Bombardier have submitted indications of interest to Finmeccanica for its transportation units AnsaldoBreda and Ansaldo STS, Italian newswire Radiocor reported on Wednesday. Finmeccanica had no immediate comment to make on the report.

SNAM

The Italian gas transporter is ready to start shipping imported gas to eastern Europe as early as 2015 thanks to a new two-way gas flow infrastructure, at a time when a growing crisis over Ukraine is threatening Russian gas supplies to Europe.

BANCA MONTE DEI PASCHI DI SIENA

In just six months, Antonella Mansi has cut the umbilical cord that for 500 years united Monte dei Paschi di Siena to its medieval home town.

SALINI IMPREGILO

The Italian builder has agreed to sell its waste-to-energy unit to Japan's Nippon Steel & Sumikin Engineering for around 140 million euros.

* Salini Impregilo said it aimed to more than double its core profit and boost its margin on sales by 2017 as Italy's biggest builder unveiled its targets under a new strategy plan.

ENI, ENEL, TERNA, FINMECCANICA

The Italian government has decided to change top management at the state-controlled companies, Il Fatto said.

HERA

The regional utility hosts a conference call on its full-year results at 1430 GMT.

* ASCOPIAVE

Italian regional utility Ascopiave is interested in buying E.ON Energia, the Italian power and gas sales unit of German group E.ON which is seeking to sell its Italian assets, MF said without citing sources. The unit is worth 150-180 million euros, it said.

CAMFIN

Pirelli chairman Marco Tronchetti Provera's investor group Lauro 61 has decided to take to Italy's Council of State an appeal against a decision made by market watchdog Consob relating to the price of a bid to buy out shares in holding company Camfin, Lauro 61 said in a statement on Wednesday.

Board meetings on FY results: ERGYCAPITAL, HERA , K.R.ENERGY, PIAGGIO, PININFARINA , RENO DE MEDICI, SABAF, SNAI , SUNSHINE CAPITAL INVESTMENTS, UNIPOL , UNIPOLSAI.

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

For pan-European market data and news, click on codes in brackets: European Equities speed guide................... FTSEurofirst 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurofirst 300 sectors................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Reuters survey of world bourse outlook......... Western European IPO diary.......................... European Asset Allocation........................ Reuters News at a Glance: Equities............... Main currency report:............................... ($1 = 0.7189 Euros)

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