Italy - Factors to watch on June 20

Fri Jun 20, 2014 2:42am EDT

The following factors could affect Italian markets on Friday.

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

POLITICS

Prime Minister Matteo Renzi on Thursday proposed a meeting with the anti-establishment 5-Star Movement to discuss political reforms, potentially changing the path followed so far towards changing the electoral law and the political system.

ECONOMY

Italy's economy should improve gradually in the next few quarters as internal demand supports growth, but the outlook remains fragile and uncertain, a senior official at the country's central bank said on Thursday.

ISTAT releases April industry orders and sales data (0800 GMT).

DEBT

Treasury announces sale of CTZ and BTPei bonds, with relative amounts to be auctioned on June 25.

Treasury offers maximum 2.5 billion euros BTP bonds maturing March 1, 2022, 5.0 percent coupon to buy back following bonds: BTP maturing June 15, 2015, 3.0 percent coupon; BTP maturing July 15, 2015, 4.50 percent coupon; BTP maturing Nov. 1, 2015, 3.00 percent coupon; CCTEU maturing Dec. 15, 2015; BTP maturing Feb. 1, 2017, 4.00 percent coupon.

COMPANIES

UNICREDIT

The bank is performing above target in central and eastern Europe and its Russian business is functioning smoothly despite Moscow's standoff with the West over Ukraine, Chief Executive Federeico Ghizzoni told Der Standard on Friday.

MEDIOBANCA

The current CEO Alberto Nagel and Chairman Renato Pagliaro are set to be re-appointed for another three-year mandate, a source close to the Italian investment bank's shareholders said on Thursday.

* BANCA MONTE DEI PASCHI DI SIENA

Rights trading in the lender's rights issue end on Friday.

* TELECOM ITALIA

Shareholder Telefonica on Monday sold a 103 million euro mandatory convertible bond issued by Telecom Italia which the Spanish group had bought in November, Il Sole 24 Ore said, citing market rumours.

* FIAT

Fiat Chrysler plans to sell its treasury holding of about 3.5 percent in CNH Industrial as well as its 2.5 percent holding in the sister company to U.S. investors, the Financial Times said, citing CEO Sergio Marchionne.

Several newspapers cited Marchionne as confirming the group would list on Wall Street at the start of October, probably in the first two weeks.

BANCA POPOLARE ETRURIA

The small-sized lender said on Thursday its chairman would sound out the market for possible merger partners after larger rival Popolare di Vicenza broke talks about a planned takeover of the Tuscan bank.

POPOLARE EMILIA ROMAGNA

The bank said in a statement on Thursday it would offer new shares in its 750-million euro rights issue at 5.14 euros, with a nominal value of 3.0 euros, offering seven new ordinary shares for every 16 already held.

The price is a 26.5 percent discount to the theoretical ex-rights price calculated on the basis of the market price on June 19, 2014.

FINMECCANICA

The defence conglomerate said it had opened the data room of its loss-making train unit AnsaldoBreda to potential bidders, without naming them, as it announced a revamp of its corporate structure.

* MEDIASET

The broadcaster plans to sell its 22 percent stake in Spanish pay TV Digital Plus to Telefonica, Il Sole 24 Ore said. The deadline for a decision is midnight Friday.

* MITTEL

Holding company Carlo Tassara has launched exclusive talks with Wedge Private Capital for the sale of its 15.3 percent stake in Mittel, Il Sole 24 Ore said.

ITALIAN BOURSE

Italian Stock exchange quarterly review effective today.

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:...............................

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.