Italy - Factors to watch on April 2

Wed Apr 2, 2014 3:06am EDT

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The following factors could affect Italian markets on Wednesday.

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

POLITICS

Italy can get its unemployment below 10 percent in the medium term with signs of improvement beginning to show through in the economy, Prime Minister Matteo Renzi said on Tuesday, after the jobless rate hit its highest level since at least 1977.

ECONOMY

Italy posted a state sector deficit of 18.4 billion euros in March compared with a deficit of 22 billion euros in the same month last year, the Economy Ministry said on Tuesday.

COMPANIES

BANKS

The ECB, via national regulators, is open to discuss with banks on a one-to-one basis issues such as the valuation of real estate collateral and loan classification, as it scrutinises banking assets in a Europe-wide health check, Il Messaggero reported without citing sources.

The paper said the move follows a meeting with chief risk officers of banks under review held on March 26 where Finnish, German and Italian banks in particular made their voices heard.

FIAT

New car sales in Italy, Europe's fourth-largest car market, rose 4.96 percent in March from the same month a year ago to 139,337 vehicles, Italy's transport ministry said on Tuesday.

PRADA

Board meeting on full-year results; followed by analyst and investor presentation (0900 GMT).

PIAGGIO

Standard & Poor's said on Tuesday it had revised its outlook on the Italian scooter maker to negative from stable, citing weaker credit ratios and shaky market conditions, but affirmed its long-term corporate rating on the firm at 'BB-'.

BANCO DESIO, POPOLARE DI SPOLETO

Banco Desio said it had reached an agreement to subscribe a reserved 139.75 million euro capital increase in Popolare di Spoleto that would give it a stake of between 66.8 percent and 72.2 percent in the Spoleto bank. The capital increase is expected to be carried out in July.

TELECOM ITALIA

Proxy adviser ISS said on Tuesday it recommended investors in Telecom Italia TLIT.MI vote for the slate of board member candidates proposed by Italian asset management association Assogestioni at the shareholder meeting on April 16.

* L'ESPRESSO

The publisher said on Wednesday it had launched a 100 million euro equity-linked 2019 bond with a coupon of between 2.625 and 3.375 percent, convertible into company's shares. Proceeds from the bond sale would be used to pay back a 227.4 million euro bond coming due this year, it said.

* ERG

The energy company said on Wednesday a joint-venture between its ERG Renew unit and LUKERG Renew of Russia's Lukoil had signed a project finance accord obtaining an 11-year, 67 million euro loan for a 70 mega-watt wind farm in Gabeleisis, Romania.

D'AMICO INTERNATIONAL SHIPPING

Annual and extraordinary shareholders' meeting.

EDISON

Savings shareholders' meeting (1330 GMT).

KINEXIA

Board meeting on FY results.

IPO

The initial public offering of Anima Holding, which controls Italian fund manager Anima SGR, has been fully covered two days after it started, a source close to the matter said on Tuesday.

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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