Italy - Factors to watch on June 10

Tue Jun 10, 2014 2:58am 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 (*).

EUROPEAN ENERGY

Eight hours of talks between Russia, Ukraine and the European Commission ended early on Tuesday without a deal on resolving a gas pricing row, raising the risk of supply disruption.

ECONOMY

ISTAT releases April industrial output data (0800 GMT); final Q1 GDP data (0900 GMT).

COMPANIES

BANCA MONTE DEI PASCHI DI SIENA

The chairman of Banca Monte dei Paschi di Siena said on Monday the Italian lender's rights issue got off to a good start partly due to technical issues.

Shares in Italian lender Banca Monte dei Paschi di Siena BMPS.MI closed up 20 percent on Monday at 1.848 euros after launching a 5 billion euro ($6.8 billion) share sale, according to Reuters data.

Banca Monte dei Paschi di Siena said on Tuesday it had sold 500 million euros ($680.75 million) of bad loans to U.S. private equity firm Fortress Investment Group, the latest in a raft of disposals of sour loans by Italian banks.

The bank said the impact from the sale would not be significant.

BANCA CARIGE

The top investor in Banca Carige sold 10.86 percent of the Italian mid-sized bank on Monday, days ahead of a planned 800 million euro share sale needed to boost the lender's capital base.

* ENEL

The Italian utility wants to redirect some of its capital spending away from Europe to emerging economies such as Africa, the Americas and The Middle East, Enel's CEO Francesco Starace told Financial Times. Over the next five years, the group plans capital spending of about 27 billion euros, of which 9 billion euros would be used for growth, Starace said.

* ALITALIA

Il Messaggero says that the creditor banks of Alitalia, mainly UniCredit and Intesa Sanpaolo, should agree by Thursday to restructure 565 million euros of Alitalia's debt, a day before the board of the airline meets to approve its accounts. According to the planned deal, the banks will write off 190 million euros of Alitalia's debt. The rest should be converted into equity-like financial instruments.

GENERALI, UNIPOL SAI

The Italian government is considering plans to allow insurers to grant credit to companies, a source close to the matter said on Monday.

SEAT PAGINE GIALLE

The group said on Monday it had received from D. Holding S.r.l. an amendment to the binding expression of interest received on 9 May 2014.

* REAL ESTATE

George Soros' fund Quantum Strategic Partners said to be among bidders for a group of state-owned buildings and army barracks now being sold, Il Sole 24 Ore reports. Other bidders include Blackstone and Cerberus.

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

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