Italy - Factors to watch on April 16

Wed Apr 16, 2014 2:51am 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 (*).

ECONOMY

ISTAT releases February foreign trade data (0800 GMT).

Reuters releases Q1 poll on Italian economy (1220 GMT).

New Economy Minister Pier Carlo Padoan has sent a letter to the European Commission asking Brussels to allow Italy to delay plans for a structural balanced budget to 2016 from 2015, several Italian newspaper said.

DEBT

The Italian Treasury said on Tuesday it was closing slightly early the sale to retail investors of a new inflation-linked BTP Italia bond after it drew orders for a total of 9.5 billion euros ($13 billion) in the first two days.

The Treasury ends the offer to retail buyers of the new 6-year maturity bonds on April 16. The bond will be offered to institutional investors on April 17.

Italian yields hit record lows on Tuesday as Rome drew strong demand from retail investors at its sale of the new inflation-linked bond.

Expectations that high-yielding euro zone government bonds will benefit from any future asset-buying programme by the European Central Bank also supported Italian bonds.

BANKS

Banking association ABI holds Executive Committee meeting (0800 GMT).

BANCA POPOLARE DI MILANO

The bank's managers will meet tomorrow with the Bank of Italy to discuss their planned capital increase and hoped-for governance reform, after shareholders voted last Saturday against proposed changes designed to lure new investors, two sources close to the matter said on Tuesday.

The 500 million euro capital increase, due to launch on May 5, should go ahead as already planned, the sources said.

BANCA MONTE DEI PASCHI DI SIENA

Italy's loss-making Banca Monte dei Paschi di Siena is considering increasing the size of its planned share sale to help it pass a Europe-wide bank health check and repay state aid this year.

* The board of Monte dei Paschi could meet in Milan already on Thursday to call an extraordinary shareholder meeting, possibly around mid-May, due to approve the increased size of the capital hike, Il Messaggero said.

Fondazione Monte dei Paschi di Siena, the former top shareholder at Italy's No.3 bank, sold shares worth 97.3 million euros, equivalent to around 3 percent of the lender, in several tranches on the market between March 28 and April 11, regulatory filings published late on Tuesday show.

* PIAGGIO

The company said on Wednesday bondholders had agreed to swap existing senior notes worth 108 million euros as part of a bond exchange offer with new securities due in 2021. Piaggio said it was increasing the total issue size of the new notes to 250 million euros and would use proceeds to pay back short and medium-term debt.

TELECOM ITALIA

Telecom Italia investors to gather on Wednesday to vote on a board renewal that will bring for the first time a majority of independent directors to oversee Italy's largest phone group.

Around 56 percent of shareholders is expected to attend.

* ALITALIA

A board expected to discuss an offer by Etihad for an investment of up to 49 percent in Alitalia is now expected next week, possibly on April 22 or April 23, Il Messaggero reports. Etihad should present its letter of intent to Alitalia either later on Wednesday or Thursday. The two carriers are expected to clinch a deal around mid-May.

CARIGE

The bank's planned 800-million-euro capital increase will kick off in the second half of June, top management told Il Sole 24 Ore. In an interview with the paper, the bank's executives said they would like private equity investor Andrea Bonomi in their shareholder base. They also said some wealthy Genoa-based families have shown interest may subscribe to the capital increase.

The Fondazione Carige, the bank's top investor, holds a board meeting later on Wednesday, Il Sole 24 said. The debt-laden investor has won the green light from the Italian treasury to 6 percent of Carige and has asked permission to sell another 20 percent.

VENETO BANCA

The bank is planning a complete overhaul of its board, following a request by the Bank of Italy. Current Chief Executive Vincenzo Consoli, whose mandate ends this month, won't stay on as Chief Executive.

ENI

Unprecedented talks across the European Union on Tuesday showed it scrambling for solutions on the ground to break its dependence on Russian gas and help supply Ukraine.

CAMPARI

Italian drinks maker Campari said on Tuesday it was buying a Sicilian spirits company, had 250 million euros to invest in further deals this year and planned to spend even more on acquisitions in 2015.

LUXOTTICA, MICHAEL KORS

The Italian eyewear group said on Tuesday it had signed a ten-year licensing agreement with U.S. luxury goods company Michael Kors Holdings Limited.

POLTRONA FRAU

The board of Italian luxury armchair maker Poltrona Frau said on Tuesday it was backing an offer worth 2.96 euros a share by U.S. office furnisher Haworth as it deemed it fair.

* MITTEL

Private equity investor Andrea Bonomi said to be considering a 15.3 percent in financial holding Mittel, Il Sole 24 ore reports.

ANIMA HOLDING

Listing on the main segment of Milan Stock Exchange.

GRUPPO EDITORIALE L'ESPRESSO

Board meeting on Q1 results and annual general meeting (0900 GMT).

TE WIND

Bondholders' meeting (1600 GMT).

TREVI GROUP

Presents FY results (1500 GMT).

TXT e-solutions

Annual general meeting (1300 GMT); followed by analysts' presentation (1430 GMT).

Annual general meetings: AEFFE (0730 GMT), ATLANTIA (0900 GMT), BONIFICHE FERRARESI (0830 GMT), CALTAGIRONE EDITORE (1000 GMT), CNH INDUSTRIAL (1000 GMT), GEOX (0800 GMT), ITALCEMENTI (0800 GMT), POLTRONA FRAU GROUP, SOFT STRATEGY (0900 GMT), SUNSHINE CAPITAL INVESTMENTS (1300 GMT). - Annual and extraordinary shareholders' meetings: AMPLIFON (0800 GMT), PRYSMIAN (0730 GMT), REPLY (0800 GMT), TELECOM ITALIA (0900 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:............................... ($1 = 0.7234 Euros)

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