Italy - Factors to watch on June 30

Mon Jun 30, 2014 2:54am EDT

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The following factors could affect Italian markets on Monday.

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

POLITICS

Privatisations will continue but to cut Italy's debt pile a radical solution is needed, cabinet undersecretary Graziano Delrio said in an interview in Corriere della Sera on Monday. Delrio said euro union bonds should be considered.

Further budgetary measures will not be needed this year, Labour Minister Giuliano Poletti said in an interview in La Repubblica on Monday. However one billion euros is missing to fund the temporary lay-off schemes, he added.

ECONOMY

ISTAT releases May producer prices data (0800 GMT); June flash CPI and HICP data (0900 GMT).

Reuters releases May asset allocation poll (1100 GMT).

COMPANIES

Conference on TV with Mediaset Chairman Fedele Confalonieri, Gruppo Editoriale L'Espresso Carlo De Benedetti, Sky Italian unit CEO Andrea Zappia (1545 GMT).

BANCA MONTE DEI PASCHI DI SIENA

Italy's Banca Monte dei Paschi di Siena said on Friday it had raised 4.99 billion euros ($6.81 billion) through a sale of new shares, allowing it to repay much of its state aid and increasing chances it could pass an EU review of bank assets.

Beauport Financial may be among those who have invested in the rights issue, Il Giornale said, citing rumours.

Ratings agency Moody's has upgraded to "Baa3" from "Ba1" the rating on the residential covered bonds issued by Banca Monte dei Paschi, Moody's said in a statement on Friday.

BANCO POPOLARE

Italy's fourth-biggest lender Banco Popolare will look at merger opportunities once it has passed a Europe-wide health check of the sector, and has cancelled the sale of its bad debt unit for now, its CEO told daily Il Sole 24 Ore in an interview. The bank later confirmed all the comments made by CEO Pier Francesco Saviotti in the interview published on Sunday.

BANCA ETRURIA, BANCA POPOLARE DI MILANO

Italian mid-sized lender Banca Etruria has approached Banca Popolare di Milano regarding a possible merger, Il Messaggero said on Saturday in an unsourced report. Banca Etruria could not immediately be reached for comment, while Pop Milano declined to comment. However, a source close to the banks said there were no talks between the two lenders.

UNICREDIT

UniCredit has reached a deal with unions to cut 2,400 jobs, the sector's main union FABI said on Saturday, in the first stage of workforce reductions foreseen in the bank's 2013-18 restructuring plan.

CVC Capital Partners Ltd is considering making an offer to buy as much as 50 percent of Pioneer Investments, the asset management unit of UniCredit, Il Sole 24 Ore said on Saturday, citing a report by Sky News.

FINCANTIERI

The shipmaker said on Saturday it had priced its initial public offering at the bottom of its price range at 0.78 euros per share and cut the size of the offering by a third.

ENI, ENEL, TERNA

Selling down the state's stakes in Eni, Enel and Terna below 30 percent is not a taboo, the Economy vice minister Enrico Morando said in La Stampa.

ENEL

The energy group could be looking at reorganising its Latin American activities by stripping off the South American operations of Enersis from Endesa and transferring them to the holding level, a UBS report said. Enel could then turn Endesa into a large Iberian yield-co and sell a stake, the bank added.

ITALCEMENTI

Italy's Italcementi, the world's fifth-largest cement producer, said on Friday its 500 million euro ($682 million) capital increase was 99.4 percent subscribed.

FIAT CHRYSLER

Mitsubishi Motors Corp will be supplying its made-in-Thailand Attrage sedan to Chrysler for sale in Mexico, an individual knowledgeable about the matter said on Saturday.

Sergio Marchionne needs a New York stock market listing to bring in the investors required to fund future growth at Fiat Chrysler, but a lukewarm response to the chief executive's most recent Wall Street launch suggests he has a bumpy journey ahead.

CIR

The group is looking at the possibility of buying back bonds, CorriereEconomia said on Monday, adding that no decision had yet been taken.

GENERALI

UBS has cut its stake in the insurer to 1.798 percent from 2.162 percent on June 19, a release from market regulator Consob showed on Friday.

GTECH

Three consortiums, including one composed of Czech investment groups KKCG and Emma Capital, and Italian gaming company GTECH SpA, have filed a bid for a licence to operate Turkey's national lottery.

AMPLIFON

Italian hearing aid company Amplifon said on Friday it was interested in buying smaller rival Audika, but the French company said it was not for sale.

PRYSMIAN

The cable maker said on Friday it had signed a 1 billion euro long-term revolving credit facility with a pool of primary domestic and international banks. The funding will be used for general corporate purposes and working capital, including a refinancing of existing debt facilities.

AEROPORTO MARCONI DI BOLOGNA

The airport operator is eyeing a stock market listing, at the latest by the spring of 2015, Enrico Postacchini, the chairman of the airport's operator Sab was quoted by Il Sole 24 Ore on Saturday as saying.

ALITALIA

The European Commission has asked the airline to supply by July 22 further details in regards to the government bringing in the postal service last year to help rescue the struggling carrier, the MF and Il Messaggero said on Saturday.

The government and Alitalia and looking at all options to limit the job cuts foreseen at the airline as part of ongoing talks for a tie-up with Abu Dhabi's Etihad Airways, various papers said. Those could include outsourcing some services and using temporary layoff schemes.

The next meeting with unions to discuss job cuts has been fixed for Wednesday, July 2, various papers said.

Banca Monte dei Paschi di Siena, one of Alitalia's creditors, wants the airline to repay factoring debt facilities, which amount to 70 million euros, Il Messaggero said on Saturday. For all of Alitalia's creditors, debt factoring totals around 235 million euros, the paper added.

ALBA PRIVATE EQUITY

Ex-dividend of 0.096 euros per share.

B&C SPEAKERS

Shareholders' meeting (1000 GMT).

Annual general meetings: COFIDE (1300 GMT), METHORIOS CAPITAL (0600 GMT).

Annual and extraordinary shareholders' meetings: CIR (0800 GMT), PMS GROUP (0700 GMT).

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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