Italy - Factors to watch on March 31

Mon Mar 31, 2014 12:00am EDT

The following factors could affect Italian markets on Monday.

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

POLITICS

The government meets over crucial constitutional reforms.

ECONOMY

Italy will cut its economic growth outlook to 0.8 or 0.9 percent from 1.1 percent when it publishes a new set of forecasts next month, Prime Minister Matteo Renzi said late on Friday.

ISTAT releases March flash inflation data at 0900 GMT.

Reuters releases March asset allocation at 1100 GMT.

COMPANIES

BANCO POPOLARE

The Italian bank has re-appointed its top management for another three years ahead of a 1.5 billion-euro ($2 billion) share issue that starts on Monday.

Citing sources in the consortium guaranteeing the capital increase, Il Messaggero said on Sunday international investors had offered to buy 300 million euros worth of the new shares.

Il Sole 24 Ore also on Sunday said Banco Popolare's retail clients were expected to cover around 35 percent of the rights issue, with small investors in general accounting for about half of the total.

Corriere della Sera on Sunday quoted CEO Pier Francesco Saviotti as saying purchases by U.S. investors were behind the stock's 7 percent price rise on Friday.

UNICREDIT

Italy's top bank could raise more than 1 billion euros form the sale of its impaired loan manager, Il Messagero wrote on Sunday. The paper said Fortress and Blackstone were strongly interested. Non-binding offers for all of UniCredit Credit Management Bank or a majority stake must be submitted to adviser UBS by April 3, the paper said citing a document sent to potential bidders. A short-list will be drawn up over the following month. UniCredit is likely to keep a 10 percent stake in the unit.

GENERALI

The insurer's Global Corporate & Commercial unit has sealed an accord with Japan's Mitsui Sumitomo Insurance which allows it to provide a full-range of non-life insurance services to its corporate clients in south-east Asia, Australia and New Zealand, Il Sole 24 Ore reported on Sunday.

UTILITIES

Italy's energy authority said on Friday it would cut electricity tariffs by 1.1 percent and gas ones by 3.8 percent from April 1.

MONCLER

The Italian quilted jacket maker said on Friday it would pay a dividend of 0.10 of a euro per share out of its 2013 results for an overall amount of 25 million euros ($34 million).

INTESA SANPAOLO, UNICREDIT, BNL-BNP PARIBAS , MEDIASET

The three banks have lent the broadcaster the 700 million euros it used to buy broadcasting rights for the Champions League football matches for 2015-2018, Il Sole 24 Ore said on Sunday in an unsourced report. Mediaset now needs about 1 billion euros to buy Series A rights and may have to bring in an investor in its pay-tv business to finance the purchase, the paper said.

TELECOM ITALIA

Giuseppe Recchi, the front-runner to become chairman of Telecom Italia TLIT.MI, said Italy's largest telecoms group by market value must act as a true public company and as chairman he would represent all shareholders equally.

ENI

Knight Vinke Asset Management sold its nearly 1 percent of the oil and gas group last week because of concerns over how ENI will choose its next chief executive, the head of the U.S-based activist investor said on Friday.

ENI, ENEL, FINMECCANICA

Italy said on Friday it will back cuts of at least 25 percent to top managers' salaries at oil producer Eni, utility Enel and defence contractor Finmeccanica at coming shareholders' meetings.

FINMECCANICA, SALINI IMPREGILO

A consortium led by Finmeccanica and ACS won a contract for a $5.7 billion subway line in Lima after competitors unexpectedly dropped out of the contest last week, Peru's state investment agency said on Friday.

COMPAGNIE INDUSTRIALI RIUNITE

CIR's energy unit Sorgenia has been able to avoid running out of cash at the end of March as previously indicated and is seeking a new meeting as early as next week with its banking creditors, Il Sole 24 Ore reported on Sunday without citing sources.

ANIMA HOLDING

The asset management company's initial public offering starts. CEO Marco Carreri holds news conference to present listing.

FIAT

Annual general meeting.

Lorenzo Ramaciotti, head of the car maker's style centre told Corriere della Sera on Sunday the new Alfa Romeo models would target high-end customers but will not compete with the 4C model. He also said the Viaggio model was being built for the Chinese market.

BANCA POPOLARE ETRURIA E LAZIO

The small lender said on Sunday it would publish on Monday full-year results.

Board meetings on FY results; AMBROMOBILIARE, EUKEDOS, FERROVIE NORD MILANO, GALA , MC-LINK, ROSETTI MARINO.

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:...............................

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