Italy - Factors to watch on April 8

Tue Apr 8, 2014 3:01am EDT

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The following factors could affect Italian markets on Tuesday.

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

POLITICS

Cabinet expected to meet on DEF-economic and financial document.

ECONOMY

Italy will set new targets for the economy and public finances on Tuesday when the cabinet approves a multi-year plan for presentation to the European Commission, the prime minister's office said.

* The government of Matteo Renzi is looking to wipe the slate clean and seek new names at Italy's main state-controlled groups including oil major Eni ENI.MI as top management comes up for renewal, government, political and industry sources said.

A list of new candidates to run Italy's state-controlled companies could be presented on Sunday, but the situation remains uncertain, Corriere della Sera reported on Tuesday.

The list of names to take the top jobs at state-owned firms should arrive on Prime Minister Renzi's desk on Tuesday, Il Sole 24 Ore reports.

DEBT

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on April 11.

The Italian Treasury said on Monday it would offer 7.5 billion euros ($10.27 billion) of Treasury bills (BOTs) at its regular mid-month auction on April 10.

The government has formed a task force to boost credit to businesses, especially small and medium enterprises, and to launch investments, the ministry of economy and finance said in a statement on Monday.

COMPANIES

* SALINI IMPREGILO, STRABAG

The Italian builder said on Tuesday it has won a contract with Austria's Strabag to build part of a tunnel in the Alps.

* ENEL, CHENIERE ENERGY

The Italian utility signed a memorandum of understanding with the State Grid Corporation of China overnight on Monday and will set up a working group over the next three months to examine the possibility of entering into a joint venture, La Repubblica reported on Tuesday citing Enel Chief Executive Fulvio Conti. The working group will look into anti-pollution projects in China and other markets including Vietnam, Indonesia and Korea, the paper quoted Conti as saying.

Enel will announce a 20-year deal to buy gas from U.S. liquefied natural gas (LNG) producer Cheniere Energy on Tuesday, Repubblica said.

* BANCA MONTE DEI PASCHI DI SIENA

Representatives of new Monte Paschi shareholders BTG Pactual and Fintech Advisory met with the Bank of Italy during the past week to discuss their investment in the bank, Corriere della Sera reported on Tuesday without citing sources.

The paper added the new shareholders will take up positions on the bank's board.

* INTESA SANPAOLO

Tassara Group wants to sell its remaining 1.57 percent stake in the Italian bank, MF reported on Tuesday.

* PIAGGIO

The group plans to establish a direct presence in China, where it will sell its premium brands Moto Guzzi, Aprilia and Vespa, MF reported on Tuesday.

* TREVI GROUP,,, PDVSA

Trevi said on Tuesday its Drillmec and Petreven units won contracts worth about $120 million from Eni and Argentina's YPF.

Trevi said Drillmec would provide three hydraulic technology rigs to the joint venture between Eni and Venezuela's PDVSA, while Petreven signed a new three-year contract for drilling activities in Argentina.

* SORGENIA, CIR

The board of the debt-laden energy firm will meet on Thursday to discuss restructuring options proposed by its creditor banks, Il Sole 24 Ore reports.

TELECOM ITALIA MEDIA, L'ESPRESSO

An agreement on the merger of the digital broadcasting assets of Telecom Italia Media and L'Espresso should be concluded Wednesday, a source close to the situation said.

ITALCEMENTI

Extraordinary shareholders' meeting (0800 GMT).

The group's savings shareholders have approved the mandatory conversion of savings shares into ordinary shares at the proposed conversion rate of 0.65 ordinary shares for each savings share, without cash balance and without a reduction in the share capital. The conversion will be presented for approval at the extraordinary shareholders' meeting.

SEAT PAGINE GIALLE

The company said on Monday that corporate liability action against some of its former directors had been initiated.

ALITALIA

The German airline Lufthansa and its subsidiary Austrian Airlines have halted flights to Libya indefinitely after a bomb exploded at Tripoli's international airport two weeks ago, a Lufthansa spokesman said on Monday. A spokeswoman for Italy's Alitalia said the airline had suspended its flights until April 15, after which the situation would be reviewed.

Etihad Airways is still negotiating commercial terms for a potential investment in Alitalia and is close to extending its partnership with Air Berlin, the chief executive of the Abu Dhabi airline said on Monday.

One of the conditions put on the table by Etihad is for banks to convert 400-450 million euros of Alitalia's debt into equity capital, Il Messaggero said on Tuesday. Another request includes a 50 percent cut of the Italian airline's labour cost without using temporary layoff schemes, the paper added.

There are no insurmountable obstacles in the Etihad-Alitalia talks, Il Sole 24 Ore said on Tuesday, citing a source close to the negotiations. There are also suggestions Etihad may invest as much as 500 million euros in the Italian carrier, the paper added.

SCREEN SERVICE

Board meeting on FY and Q1 results.

Annual general meetings: MOLMED (0900 GMT), TAMBURI INVESTMENT PARTNERS (1500 GMT).

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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