Italy - Factors to watch on June 2

Mon Jun 2, 2014 2:49am EDT

The following factors could affect Italian markets on Mond ay.

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

POLITICS

Italian Prime Minister Matteo Renzi on Sunday promised reforms to cut red tape and encourage investments and suggested Jean-Claude Juncker may not get Italy's backing to be the next president of the European Commission.

In its country-specific recommendations, the European Commission will ask Italy to tackle youth unemployment and to reform public administration quickly, La Repubblica reported on Sunday.

ECONOMY

Deflation would be a disaster for the euro zone and for countries with high public debt in particular, Italian Economy Minister Pier Carlo Padoan said on Saturday.

Markit/ADACI releases May PMI manufacturing (0745 GMT).

COMPANIES

Bourse after hours trading closed.

ALITALIA

Etihad Airways said on Sunday it had set the terms for investing in loss-making airline Alitalia and was looking to conclude the deal, as the Abu Dhabi carrier expands its reach in Europe. * Alitalia's board will meet on Friday to discuss the matter, Corriere della Sera said on Monday.

FIAT CHRYSLER AUTOMOBILES

The carmaker Chief Executive Sergio Marchionne said on Sunday a good performance of U.S. operations was crucial for the success of the company's recently announced business plan.

BANCA POPOLARE DI MILANO

The lender's board will discuss on Tuesday the request to the Bank of Italy to remove larger risk-weights than peers the bank had to apply to calculate its capital ratios, Chief Executive Giuseppe Castagna said in an interview with Il Messaggero on Sunday.

BANCA CARIGE

The lender's top shareholder, a charitable foundation that owns 29 percent of the bank, is in talks with foreign investors to sell an additional 9 percent stake, Il Sole 24 Ore said on Sunday.

* AXA

The French insurer is ready to make an acquisition in Italy, Affari & Finanza quoted Frederic de Courtois, the head of the group's Italian unit AXA Assicurazioni, as saying.

SEAT PAGINE GIALLE, DMAIL

Bondholders and creditors of the debt-laden yellow pages company have asked the group's board and special administrator to reject a proposal for a possible merger with DMail Group, Corriere della Sera reported on Sunday.

PRELIOS

The real estate company is seeking for a partner and is sounding U.S. investors such as Fortress and Starwood Capital, La Repubblica reported on Saturday. The group's board will discuss a new business plan on June 12, according to the newspaper.

ITALIAN BANKS

Italian banking association (ABI) mulls changes to its by-laws to introduce tighter conditions for bankers who wants to join the association, ABI's Chairman told La Repubblica on Sunday.

SNAM

The Italian gas transport group will likely seal the purchase of the gas pipeline TAG from Italian state lender Cassa Depositi e Prestiti in September, Il Sole 24 Ore said on Saturday.

SALINI IMPREGILO

Italy's biggest builder said on Friday it was evaluating an equity offering to institutional investors to increase its free float and raise money for possible expansion.

CREDITO BERGAMASCO

Shares delisted from Monday due to merger with Banco Popolare.

ITALCEMENTI

Mandatory conversion of all saving shares into ordinary shares, at a conversion ratio of 0.65 ordinary shares for each saving share.

TE WIND

The company holds annual general meeting (0800 GMT).

Ex-dividend: Emak 0.025 euros per share; Hera 0.09 euros per share; Italcementi 0.06 euros per ordinary share and 0.06 euros per savings share; Kinexia 0.01 euros per share.

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