Italy - Factors to watch on May 8

Thu May 8, 2014 3:01am EDT

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The following factors could affect Italian markets on Thursday.

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

POLITICS

Switzerland's finance minister said on Wednesday it should be possible to reach a deal with Italy over long-running negotiations aimed at disclosing Italian savers' secret holdings in Swiss bank accounts by the end of the year.

DEBT

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on May 13.

The Treasury said on Wednesday it would offer 6.5 billion euros ($9 billion) of 12-month Treasury bills (BOTs) at its regular mid-month auction on May 12.

COMPANIES

* ENEL

Italy's biggest utility said on Thursday its core earnings edged up 0.5 percent in the first quarter, beating consensus expectations as the group prepares to welcome a new chief executive.

FIAT CHRYSLER * The carmaker plans to invest 2.36 billion zlotys ($784 million) to upgrade its Tychy factory in southern Poland where it plans to start production of the all-new B-class car, Polish Puls Biznesu daily said on Thursday.

Short selling on Fiat Chrysler shares has been banned for Thursday's trading session until 2200 GMT, Italian market regulator Consob said on Wednesday following steep losses in the car maker's share price.

Fiat Chrysler's shares fell sharply on Wednesday as analysts questioned whether the carmaker could achieve Chief Executive Sergio Marchionne's new targets - and how his ambitious expansion plan would be funded.

MEDIASET

Italy's Serie A soccer clubs have signed a contract with Swiss-based agency Infront that guarantees them at least 6 billion euros ($8 billion) in income from television rights for the next six seasons, Infront said on Wednesday.

PIRELLI

The tyre maker will reach its full-year targets despite a weaker-than-expected outlook for the Russian market, Chairman and CEO Marco Tronchetti Provera said on Wednesday.

* ANSALDO ENERGIA, SHANGHAI ELECTRIC

Ansaldo Energia is due to sign a binding agreement with Shanghai Electric which will provide the foundation for the Chinese company to take a 40 percent stake in the Italian company, Il Sole 24 Ore reported on Thursday. The partnership will be strengthened by a series of joint ventures which will be set up in the coming months, the paper added.

La Repubblica also said Shanghai Electric is due to take a 40 percent stake in the power engineering company.

Italian Prime Minister Matteo Renzi will attend a ceremony on Thursday to sign an international partnership for Italian power engineering company Ansaldo Energia, according to the premier's timetable.

FINMECCANICA

Lawmakers in Prime Minister Matteo Renzi's party on Wednesday backed cutting by half the 12 billion euros ($16.7 billion) earmarked for Italy's order of 90 Lockheed Martin F-35 fighter jets.

ENI, MOL

Hungarian oil and gas group MOL said it had agreed to buy Eni's Czech, Slovak and Romanian units, including 208 filling stations, in a move to build market share, particularly in the Czech retail market.

* GENERALI, GENERALI DEUTSCHLAND

The Italian insurer said on Wednesday it had completed a squeeze-out process on shares in Generali Deutschland, which is due to be de-listed, at a price of 107.77 euros per share.

YOOX

Italian online retailer Yoox said on Wednesday it expected continued revenue and profit growth this year as it reported a 14.6 percent rise in net sales for the first quarter.

AMGA

The Italian regional utility holds shareholders' meeting on FY results (1200 GMT) and to approve merger with Hera (1300 GMT).

ECOSUNTEK

Renewable energy sector company debuts on AIM segment.

ENEL

Conference call on Q1 results (0730 GMT).

GTECH

Annual general meeting and board meeting on Q1 results, followed by conference call.

MEDIOBANCA

Board meeting on Q3 results, followed by conference call (1530 GMT).

BANKS

Bank of Italy releases April data on European Central Bank funding to Italian banks.

* GEOX

American sportswear company Columbia and its Italian unit have obtained from a Milan court a measure to protectively inhibit the sale of certain Geox shoes in Italy due to an alleged patent violation, Il Sole 24 Ore reported on Thursday.

* ALITALIA

Gulf airline Etihad has reduced the number of layoffs it is asking for to clear the way for an investment in the Italian carrier to 1600-2000, Il Sole 24 Ore reported on Thursday.

Etihad has sent a new letter to Alitalia's shareholders reiterating the conditions at which it would invest in the ailing carrier, Il Messaggero said in an unsourced report.

Etihad wants Alitalia to be freed from all of its debts and bank creditors, led by Intesa Sanpaolo, must now decide whether they're ready to take the loss, Messaggero said.

Some of Alitalia's shareholders as well as Eithad have rejected as unsustainable a plan drafted by advisers that envisaged debts being taken on by a holding company owned by current shareholders which would have controlled 51 percent of the new Alitalia, in which Etihad would have taken a 49 percent stake, the paper added.

EVENTS

Prime Minister Matteo Renzi attends Italian-German economic forum (0800 GMT).

Conference on "The Importance of European Economic Governance for Companies and National Institutions" with Economy Minister Pier Carlo Padoan (1400 GMT).

'Green Investor Day', round-table discussion on "Innovation and Green Technologies" with TerniEnergia Chairman and CEO Stefano Neri, Kinexia Chairman and CEO Pietro Colucci, Biancamano CEO Giovanni Battista Pizzimbone (0820 GMT).

Annual and extraordinary shareholders meetings: ENI (0800 GMT), INTESA SANPAOLO (0830 GMT), RCS MEDIAGROUP (0830 GMT).

Board meetings on Q1 results: ACEA, AZIMUT , BANCA GENERALI followed by conference call (1000 GMT), CALTAGIRONE EDITORE, CARRARO (1330 GMT), CNH INDUSTRIAL followed by conference call, CREDITO EMILIANO, IGD, ITALCEMENTI , MOLESKINE, PIAGGIO, POLTRONA FRAU , PRYSMIAN followed by conference call, SNAI , TELECOM ITALIA MEDIA, TXT E-SOLUTIONS , VIANINI INDUSTRIA.

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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