Italian Stocks - Factors to watch on Nov 10
MILAN, Nov 10 (Reuters) - 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 (*).
PRYSMIAN (PRY.MI)
U.S. bank Goldman Sachs (GS.N) is to sell nearly a third of
its 31.8 percent stake in Italian cable maker Prysmian to
institutional investors, in a process brokers said should close
on Monday. [ID:nL9298899]
FIAT (FIA.MI)
Chrysler has disbanded a team of engineers dedicated to rushing a range of electric vehicles to showrooms and dropped ambitious sales targets for battery-powered cars set as it was sliding toward bankruptcy and seeking government aid. [ID:nN06212549]
Italian tax authorities will shortly pay auto group Fiat over 400 million euros in tax credits due from car-buying incentives schemes, a source at the tax office said on Monday. [ID:nL9508482]
INTESA SANPAOLO (ISP.MI)
* Italy's biggest bank in terms of retail branches is due to
release its third-quarter results on Tuesday. The bank is
expected to post net income of 461.5 million euros, down from
673 million euros in 2008. [ID:nL642745]
The bank's asset management unit Banca Fideuram posted a net profit of 130.6 million euros in the first nine months from 156.8 million euros the previous year.
Investment bank unit Banca IMI reported a rise of 104 percent in first nine months net profit to 410 million euros, MF said citing the results.
ENI (ENI.MI)
Italy's industry ministry said on Monday an agreement has been reached to restart Eni's Vinyls plants at Ravenna, Porto Marghera and Porto Torres.
Europe's antitrust inquiry into whether Eni has abused its dominant position in Europe's natural gas market could force a change to the group's pipeline business, the Wall Street Journal said. Eni is due to testify before EU regulators on Nov. 27, it added.
UNICREDIT (CRDI.MI)
The foundation shareholders fear the idea of restructuring to create a single bank could impact employment levels and want clarification from the bank, Il Sole 24 Ore said. * Gianni Coriani has resigned as CEO of UniCredit Corporate Banking, Il Messaggero said, without citing sources.
UNIPOL (UNPI.MI)
The insurer is entering the private equity sector and is
launching a fund worth 150 million euros to invest in small and
medium-sized businesses, Il Sole 24 Ore said in an unsourced
report.
* AUTOGRILL (AGL.MI)
The group's in-flight division Alpha has renewed a catering contract with Royal Jordanian for 10 years, Autogrill said on Tuesday.
SMALL AND MID CAPS
SARAS (SRS.MI)
Italian oil refiner Saras slumped to a worse than expected net loss in the third-quarter, impacted by maintenance effects and depressed refining margins. [ID:nLA197209]
AEFFE (AEF.MI)
Aeffe and Cacharel signed a long-term partnership agreement to develop pret-a-porter womenswear collections for the Cacharel brand, the two companies said on Monday.
COMPANY RESULTS
The following companies will report results:
AUTOGRILL (AGL.MI), BANCA POPOLARE DI MILANO (PMII.MI), GEOX (GEO.MI), INTESA SANPAOLO (ISP.MI), MEDIASET (MS.MI), TERNA (TRN.MI), CAMPARI (CPRI.MI), SARAS (SRS.MI)
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