Italy - Factors to watch on August 21

Thu Aug 21, 2014 2:54am EDT

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The following factors could affect Italian markets on Thursday.

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

ECONOMY

Italy's government will publish updated budget and macro estimates by Oct. 1, the Economy ministry said on Wednesday.

COMPANIES

LUXOTTICA

The eyewear group said on Thursday it planned to discuss the issue of a possible exit of Chief Executive Andrea Guerra at its next board meeting.

LUXOTTICA, CAMPARI, AUTOGRILL

Luxottica Managing Director and CFO Enrico Cavatorta, Campari CEO Bob Kunze-Concewitz and Autogrill CEO Gianmario Tondato da Ruos are mentioned in the press as a possible successor to Guerra after news that the Luxottica CEO may leave.

MF said that Kunze-Concewitz was the frontrunner and mentioned also Artsana's Claudio De Conto and Kering's head of eyewear licenses Roberto Vedovotto as possible candidates.

FIAT

Chairman John Elkann was quoted as saying in the press he was "optimistic" on the company's merger plans. The comment came on the last day in which Fiat investors could sell their shares if they rejected the merger. The car maker has decided it would not spend more than 500 million euros on paying out dissenting investors and bondholders.

BANKS

The European Central Bank has sent back stress test results to about 100 of the 128 banks that are undergoing a pan-European health check asking them to address a number of issues, Il Messaggero said in an unsourced report.

Banks, including all of the 15 Italian lenders targeted by the check-up, had until Wednesday to answer the ECB's remarks and the ECB on Thursday will say whether that is enough.

GTECH

The Italian lottery operator said on Wednesday 14 banks have agreed to lend it up to $10.7 billion, in part to back its planned acquisition of U.S. slot machine maker International Game Technology.

TOD'S

Italy's Della Valle family, the main shareholder in the luxury shoemaker with a 56.8 percent stake, bought a further 0.7 percent over the past week paying 17.3 million euros, the company said on Wednesday. Shares in Tod's hit a two-year low after it posted disappointing first-half results on Aug. 7.

* TERNA

The Greek government wants the future owner of a 66 percent stake in its power grid ADMIE to pledge investments of at least 2.0-2.5 billion euros to upgrade the network, Il Sole 24 Ore said. Terna has said it is interested in bidding for the stake, which the newspaper says could be worth around 1 billion euros.

Bourse After Hours market closed.

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FTSE IT allshare index

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

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