Italian Stocks - Factors to watch on July 3

MILAN, July 3 (Reuters) - 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 (*).

FIAT (FIA.MI)

Magna's (MGa.TO) board s scheduled to approve on Tuesday a
business plan for the acquisition of Opel, two sources familiar
with the matter said on Thursday. [ID:nL2541989]

Magna's Russian partner Sberbank (SBER.RTS) -- together they
want to take a 55 percent stake in Opel -- said that BAIC, RHJ
and Italian carmaker Fiat were all effectively out of the race.

* ENEL (ENEI.MI)

Enel will issue bonds for institutional investors worth
about 2.5 billion euros before the end of the year, Il Mondo
weekly said, without citing sources. In 2010 the group will work
on a retail bond worth 2-2.5 billion euros, it said. The company
had no comment.

ENI (ENI.MI)

The cost of developing Kazakhstan's huge Kashagan oilfield
will be cut by at least $1 billion, Kazakh Energy Minister Sauat
Mynbayev said on Friday. [ID:nL368173]

* PIRELLI (PECI.MI)

The group will soon invest in the Middle East in either
Saudi Arabia or Libya with local investors, La Repubblica said,
citing the group's chairman. Pirelli sees no acquisitions even
if the tyre market is set to consolidate further, the paper
said.

A2A (A2.MI), EDISON (EDN.MI)

A plan to merge A2A with Edison investor Delmi or Edison are
"frozen", Delmi member Dolomiti Energia's chairman told Reuters
on Thursday. He said proposals on how to enhance the value of
the Edison stakes held by Delmi members might be ready by the
end of July or shortly after the summer.

* TELECOM ITALIA (TLIT.MI)

About a dozen funds are interested in buying a 49 percent
stake in Telecom Italia's fibre-optic network operator Sparkle,
Il Mondo weekly said, without citing sources. They include
Clessidra, Investindustrial, F2i, Carlyle, Apax, Axa
Infrastrutture, Antin and BNP Paribas, it said.

UNIPOL (UNPI.MI)

The insurer has issued a 175 million euro bonded loan in a
private placement to controlling shareholders and other
investors, the company said in a statement. [ID:nL2424448]

The project to merge holding companies Holmo and Finsoe,
which control Unipol, has restarted and the two holdings are
presenting a new request to insurance watchdog ISVAP, Il Sole 24
Ore said, without citing sources.

* UNICREDIT (CRDI.MI)

The lender is restructuring its Italian corporate bank, Il
Messaggero said without citing sources. UniCredit will replace
its two-region system with one with five geographic areas.

LUXOTTICA (LUX.MI)

HSBC raised its rating for the eyewear maker to "overweight"
from "neutral" and boosted its price target to 19 euros from 11
euros.

SMALL AND MID CAPS

* PIAGGIO (PIA.MI)

The scooter maker has approved its 2009-12 industrial plan,
which targets 2012 sales of 1.88 billion euros. [ID:nMAT009718]

IL SOLE 24 ORE (S24.MI)

Revenues could fall by around 8 percent this year on the
back of lower advertising sales, the publishing company said.
[ID:nL361074]

SAFILO (SFLG.MI)

The eyewear maker could bring on board private equity and
industrial partners to help solve financial worries, sources
told Reuters after bankers agreed to a debt payment being
delayed. [ID:nL2345883]

The U.S. group FGX International has renewed its interest in
Safilo, Il Sole 24 Ore said, citing an FGX statement. Without
citing sources the paper said Safilo is not interested in the
offer and will continue talks with private equity, especially
Bain Capital.

PININFARINA (PNNI.MI)

The car designer's board will set terms of its 70 million
euro rights issue on July 7, the company in a statement after
marker regualtor Consob cleared the recapitalisation.

TOD'S (TOD.MI)

HSBC raised its rating for the luxury shoes and bags company
to "neutral" from "underweight.".