Italy - Factors to watch on April 15

Tue Apr 15, 2014 2:55am EDT

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

Representatives of national statistics institute ISTAT (0730 GMT), Bank of Italy (0830 GMT), state auditor (1030 GMT), Economy Minister Pier Carlo Padoan (1830 GMT) speak on DEF document before Chamber of Deputies and Senate Budget committees.

Interior Minister Angelino Alfano speaks before Chamber of Deputies Schengen Committee on immigration policies (0730 GMT).

ECONOMY

Istat releases February import prices (0800 GMT).

DEBT

Italy won orders worth 6.72 billion euros for an inflation-linked bond on the first day of sale on Monday, confirming small investors' appetite for a security that often raises record amounts.

The offer to retail buyers continues on April 16, and will be offered to institutions on April 17.

Yields on government debt fell across the euro zone on Monday, with those on German Bunds hitting 10-month lows after European Central Bank chief Mario Draghi said a stronger euro might trigger further monetary easing.

Italian 10-year bond yields fell 4 basis points to 3.18 percent, within touching distance of record lows.

COMPANIES

ENI, FINMECCANICA <SIFI.MI, ENEL, POSTE ITALIANE

Italy proposed new managers for state-backed companies such as oil major Eni and defence group Finmeccanica on Monday in a shake-up that tests Prime Minister Matteo Renzi's pledge to break with old-style cronyism.

Claudio Descalzi faces a delicate balancing act as he takes the helm of Italian oil major Eni - guaranteeing Italy's gas supply by nurturing relations with Russia, while exploring new drilling frontiers in Africa and Asia to boost profit.

BANCA MONTE DEI PASCHI DI SIENA

The bank may need to raise up to 5 billion euros ($6.9 billion) through an upcoming capital hike, rather than the 3 billion euros originally planned, Italian news agency ANSA reported on Monday.

SARAS

Demand for refined oil products in Italy fell 3.4 percent in March compared with the same month a year ago to around 4.7 million tonnes, industry group Unione Petrolifera (UP) said on Monday.

BLACKSTONE, ATLANTIC 1

IDeA Fimit has rejected a raised offer from a unit of U.S. investment firm Blackstone to take over listed real estate fund Atlantic 1, the Italian fund manager said on Monday.

FIAT CHRYSLER

As Fiat Chrysler moves to reinvent its small Maserati brand as a serious rival to the world's luxury car makers, the pressure to succeed is all the greater for the startling success of Germany's Porsche.

CNH INDUSTRIAL

The truck and tractor maker said in a statement on Monday its chief executive Richard Tobin would take on additional responsibility as brand president for Case Construction Equipment and New Holland Construction Equipment.

* DAVIDE CAMPARI

The Italian drinks group has agreed to buy Fratelli Averna in a deal valuing the Sicilian spirits company that makes Averna, Italy's second best-selling bitter, at 103.75 million euros ($143 million).

* IL SOLE 24 ORE

The publishing group has agreed to sell its 24 Ore Software unit to TeamSystem in a deal valuing the software company at 104 million euros net of debt, it said on Monday. The publisher will book a capital gain of around 24 million euros.

* TELECOM ITALIA

The Italian telecoms group will have the most independent board in its history after a shareholder meeting on Wednesday, the Financial Times quoted CEO Marco Patuano as saying. The executive said Telecom Italia's new chairman needed "an international profile and respect from the financial community."

Shareholders representing 55 percent of the company's capital are expected to attend Wednesday's meeting, Il Sole 24 Ore reported. * ASSICURAZIONI GENERALI

Italian state-backed fund Fondo Strategico Italiano has nearly halved its 4.5 percent stake in the insurer, Il Sole 24 Ore reported citing market rumours. U.S. mutual fund Vanguard Group has built a stake close to 1 percent while U.S. money manager BlackRock in recent weeks has raised its stake above 2 percent.

* BANCA POPOLARE EMILIA ROMAGNA

The bank's deputy managing director Alessandro Vandelli is front runner to replace CEO Luigi Odorici if he were to leave the bank, MF said * RISANAMENTO

The real estate company said on Tuesday it would return to profit this year thanks to the recently sealed sale of prized French properties, after cutting its loss to 73 million euros in 2013. The group had net debt worth 1.8 billion euros at the end of last year.

* FINMECCANICA, ANSALDO STS

State-owned investment fund FSI is interested in the two Finmeccanica units AnsaldoBreda and Ansaldo STS, MF said in an unsourced report.

The fund had had meetings and exchanged information over the two units. FSI cannot invest in loss-making companies but Finmeccanica is mulling splitting the troubled AnsaldoBreda into a good and bad company, MF said.

* IPOs

U.S. private equity firm BC Partners is planning to spin-off Italian retailer OVS from department store chain COIN and list it, Il Sole 24 Ore reported citing rumours. Lazard will be an adviser on the deal, it said.

IGD

Annual and extraordinary shareholders' meeting (0800 GMT).

PRIMI SUI MOTORI

Annual general meeting (0800 GMT) and bondholders' meeting (0900 GMT).

SOFTEC

Board meeting on FY results.

Annual general meetings: ANSALDO STS (0900 GMT), DE' LONGHI (0645 GMT), ERG (0830 GMT), MOLESKINE (1230 GMT), PRIMA INDUSTRIE (0730 GMT), Snam (0800 GMT).

Annual and extraordinary shareholders' meeting: ATLANTIA (0900 GMT), BENI STABILI (0900 GMT), IGD (0800 GMT), SAFILO GROUP (0800 GMT).

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