Italy - Factors to watch on June 3

Tue Jun 3, 2014 2:32am 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

The European Commission told France and Italy on Monday to stick to their pledges to curb spending while reforming their economies, showing little sign of wavering on EU budget rules.

ECONOMY

ISTAT releases April and Q1 unemployment data (0800 GMT).

May state sector borrowing requirement data.

COMPANIES

TELECOM ITALIA

The Brazilian broadband unit of France's Vivendi SA , GVT, on Monday decried the idea of breaking up rival TIM Brasil, the local unit of the Italian phone company.

FIAT

U.S. safety regulators are investigating Chrysler Group's 2012 recall of 744,822 sport utility vehicles in the United States after six consumers complained of inadvertent airbag deployments even after fixes were made.

Transport Ministry releases May car sales (1600 GMT).

Fiat is in talks with Mitsubishi to produce a pickup for Europe and South America, La Repubblica and other newspapers said citing a report in Automotive News. The Italian car marker declined to comment, according to La Repubblica.

MONTE DEI PASCHI

The bank is expected to price its 5 billion-euro rights issue at a 30 percent discount to the TERP at a board meeting on Thursday, Il Sole 24 Ore reported, confirming a Reuters report last week. La Repubblica said the recapitalisation will likely be launched on Monday after winning approval from market regulator Consob on Wednesday.

MEDIASET

The broadcaster aims to buy part of Telefonica's 78 percent stake in Spanish pay TV company Digital Plus in an agreement to be reached by the end of June, La Stampa reported citing unnamed financial sources. Mediaset wants to raise its stake in Digital Plus to around 40 percent from 22 percent currently.

CIR

CEOs of its unit Sorgenia's creditor banks are expected to meet again on Tuesday to discuss a restructuring of the energy company's debt, several newspapers said.

UBI BANCA

Nomura raises price target to 7 euros from 5.80 euros; rating buy

POPOLARE MILANO

Nomura raises to buy from neutral

* The bank's board meets on Tuesday to ask for a removal of the so called add-ons, larger risk-weightings applied by the Bank of Italy to its capital ratios, Il Sole-24 Ore reported.

BANCO POPOLARE

Nomura cuts to neutral from buy; target price to 13.40 euros from 16 euros

ALITALIA

IPO

Italy's PLT Energia will debut on Milan stock exchange on June 4, the holding company said in a statement. Shares of the company, which builds and manages renewable energy plants, were issued at an initial price of 2.7 euros/shares.

INVESTINDUSTRIAL, CLUB MEDITERRANEE

The takeover battle for Club Mediterranee intensified on Monday after the French holiday resort operator agreed to open its books to a new potential bidder, Investindustrial, a fund led by Italian businessman Andrea Bonomi.

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20 biggest gainers (in percentage)............

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FTSE IT allshare index

FTSE Mib index........

FTSE Allstars index...

FTSE Mid Cap index....

Block trades..........

Stories on Italy...... IT-LEN

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