Italy - Factors to watch on May 5

Mon May 5, 2014 2:41am EDT

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The following factors could affect Italian markets on May 5.

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

ECONOMY

ISTAT releases report on 2014-2015 Italian economy perspectives (0800 GMT).

ENERGY

Start of two-day G7 Energy meeting in Rome, with EU Energy Commissioner Gunther Oettinger.

MARKETS

Market regulator Consob holds annual meeting with financial markets and celebrates 40th anniversary of the creation of the stock-market watchdog; President Giuseppe Vegas gives speech (0830 GMT).

COMPANIES

ALITALIA

Alitalia and its creditors are rushing to finalise by Tuesday a proposal aimed at persuading Gulf-based airline Etihad to invest in the loss-making Italian carrier, a source with direct knowledge of the matter told Reuters on Saturday.

One of the options involves hiving off Alitalia's debt into a separate company. CEO Gabriele Del Torchio is meeting Etihad's CEO in Abu Dhabi on Tuesday.

Transport Minister Maurizio Lupi was quoted by Italian media on Sunday as saying that the government could not accept as a solution for Alitalia the creation of a bad company similar to that set up at the time of the carrier's privatisation, when the state absorbed the bad company's losses.

SNAM

Italy has enough stock and sufficient diversified energy sources to be able to cope if gas supplies from Russia were to be interrupted due to the current crisis in Ukraine, the CEO of Italy's gas distributor Snam told an Italian daily on Sunday.

UNICREDIT

Bank expected to formally start on Tuesday procedure to sell its credit management unit, Il Sole 24 Ore said on Sunday. Five suitors are still in the run to buy the unit, the paper said. Amonf those interestes are, according to Il Sole, are: Prelios together with Fortress, a consortium formed by Deutsche Bank, Goldman Sachs and TPG, another consortium formed by CVC-Jupiter and Cerberus and other foreign funds.

* GENERALI

The insurer is poised to move into corporate lending in Europe via a joint-deal with Dusseldorf-based bank IKB and local insurer Gothaer to provide financing to small- and medium-sized firms in the country, the Financial Times reported on Monday.

Generali is also understood to be exploring an initiative to lend to companies in its domestic market, probably with a local bank, the paper said.

* FIAT CHRYSLER AUTOMOBILES

The new industrial plan by Fiat-Chrysler, the first after the Turin-based car maker took full control of the Detroit-based group, envisages investments worth 9 billion euros in new Fiat and Alfa models, La Stampa said quoting Automotive News. The car group is also planning to spin-off Alfa Romeo, the paper said.

SORIN

Turkey's Alvimedica is interested in a possible acquisition of Sorin, Alvimedica CEO Cem Boskurt told La Stampa, adding his company was already in touch with banks and investment funds that hold stakes in the Italian biomedical company.

INDESIT

U.S. group Whirlpool and Turkey's Arcelick are interested in buying Indesit, said Il Sole 24 on Sunday.

CIR

Cir's unit Sorgenia is due to meet its creditor banks on Wednesday to continue talks on how to restructure debt, Corriere said on Saturday. Sorgenia is saddled by 1.9 billion euros of debt and risks going bust. The plan to save the company involves cutting debt by 600 million, issuing a convertible bond worth 200 million euros and launching a capital increase worth 400 million euros.

BANCA POPOLARE DELL'EMILIA ROMAGNA

The bank is mulling a capital increase of up to 800 million euros, Il Sole 24 Ore said on Saturday. A decision should be taken on Tuesday, when the bank's board meets.

BANCA MONTE DEI PASCHI DI SIENA

Reverse stock split starts; ends on May 9 (one new ordinary share for one hundred shares owned).

BANCA POPOLARE DI MILANO

Capital increase starts; ends on May 23.

BANCA CARIGE

Saving shareholders' meeting (0830 GMT).

TELECOM ITALIA MEDIA

Capital reduction by cancellation of 13 (thirteen) shares every 14 (fourteen) shares owned.

* RCS MEDIAGROUP

The publisher said on Sunday it would propose shareholders at a meeting on May 8 naming Teresa Cremisi, Chairman and General Manager of French rival Flammarion, as a new board member.

* MOLMED

The pharmaceutical group said on Monday that the placebo-controlled Phase III trial of NGR-hTNF in 400 patients with malignant pleural mesothelioma had showed a statistically significant 40 percent improvement of overall survival in half of the patient population.

FINCANTIERI

State ship builder company holds shareholders' meeting to approve bourse listing (1000 GMT).

IPOs

Italian property group Statuto will spin off its luxury hotel unit in order to list it in an initial public offering expected to value the owner of Venice's Hotel Danieli at more than 1.5 billion euros, the Financial Times reported on Monday citing people close to the matter.

Annual general meeting: MERIDIE (0800 GMT), MID INDUSTRY CAPITAL (0900 GMT), ROSETTI MARINO (0830 GMT).

Board meetings on Q1 results: BANCO SARDEGNA, SNAM (press release on May 6), SPACE.

Ex-dividend: ASTM 0.45 euro per share; BANCA PROFILO 0.003 euro per share; BANCA POPOLARE DI SONDRIO 0.050 euro per share; BANCO DI DESIO E DELLA BRIANZA 0.0214 euro per ordinary share and 0.0364 euro per saving share; BANCO DI SARDEGNA 0.04 euro per ordinary share, 0.30 euro per saving share and 0.30 euro per preference share; CENTRALE DEL LATTE DI TORINO 0.06 euro per share; ENERVIT 0.045 euro per share; ESPRINET 0.089 euro per share; GRUPPO MUTUIONLINE 0.12 euro per share; LEONE FILM GROUP 0.09 euro per share; SAES GETTERS 0.15000 euro per ordinary share and 0.166626 euro per saving share; SAVE 0.52008 euro per share, VALSOIA 0.230 euro per share.

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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