Italian Stocks - Factors to watch on July 13
MILAN, July 13 (Reuters) - 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 (*).
ANTI-CRISIS MEASURES
Italy's government, parliament as well as industry and banking associations will discuss this week new anti-crisis measures including fiscal incentives to bring back capital illegally invested abroad, suspension of loan repayment by troubled companies and raising retirement age for women, Italian newspapers reported on Sunday.
BOURSE REGULATOR CONSOB
It holds its annual meeting on Monday with expected attendance by Economy Minister Giulio Tremonti and various company executives.
FIAT (FIA.MI)
Chrysler, the U.S. car maker headed by Fiat's chief executive Sergio Marchionne, said it was no longer pursuing a sale of its Viper business assets. Fiat owns 20 percent of Chrysler and Marchionne wants to draw up a product slate for the future. [ID:nWEN0462]
Chrysler also reversed its decision to cancel a third work shift at a U.S. plant saving 1,200 direct jobs, a union head said. [ID:nN10531038]
Belgian holding company RHJ International SA (RHJI.BR) is
readying an improved offer for General Motors Corp GMGMQ.PK
unit Opel that it hopes to submit this week, two sources
familiar with its plans said on Sunday. Fiat bid for Opel
earlier this year but did not continue into a second round of
talks. [ID:nLC590154]
ENI (ENI.MI), IL SOLE 24 ORE (S24.MI)
Eni and Il Sole 24 Ore are discussing merging their respective news agencies, Agi and Radiocor, two sources close to the operation told Reuters. [ID:LA31942]
Eni's chemicals subsidiary Polimeri Europa had to suspend operations at its Porto Torres cracking unit in Sardinia because economic crisis hit demand for its output, Eni's Chief Executive Paolo Scaroni said in a letter cited by several newspapers on Saturday.
Any curbs in the use of oil by the United States as a result of energy saving measures will be offset by increased demand from India and China, Scaroni said in La Repubblica on Monday.
In an interview, Scaroni repeated comments on the recent rise in oil prices being unjustified by fundamental factors calling again for an international energy agency to improve functioning of markets.
* ENEL (ENEI.MI)
France's main electricity provider EDF (EDF.PA) is
discussing swapping assets with Enel, French business newspaper
La Tribune reported on Monday. [ID:nLD694181]
Enel declined to comment.
Credit Suisse cut on Monday Enel's price target to 3.80 euros, from 5 euros, leaving its "neutral" rating unchanged.
TELECOM ITALIA (TLIT.MI)
Private equity firms Apax, F2i, CVC, Clessidra and Investindustrial are competing to buy a 49 percent stake in Telecom Italia's unit Sparkle which could fetch about 600 million euros; Telecom Italia is close to selling its Loquendo unit to Canadian company E-Lane Systems in a deal worth 15 million euros, Il Giornale said Saturday without citing sources.
GENERALI (GASI.MI), UNICREDIT (CRDI.MI), INTESA (ISP.MI)
Activist hedge fund Algebris is ready to increase its stake in Italy's biggest insurer if "things changed", Algebris founder Davide Serra, who has criticised Generali's governance in the past, told Il Sole 24 Ore in an interview on Sunday; Serra said his fund has raised stakes in Italian banks UniCredit and Intesa Sanpaolo, but declined to give details.
MEDIOLANUM (MED.MI)
The asset manager is looking around to buy a small or medium-size network which would fit its commitment to stay close to local business and families, Mediolanum's founder and core shareholder Ennio Doris told Milano Finanza in an interview published on Saturday.
BANCO POPOLARE (BAPO.MI), ITALEASE (BIL.MI)
Banco Popolare is considering a capital increase of 1.0-1.2 billion euros for its unit Italease once the bank completes a buyout offer for Italease, La Stampa reported on Saturday citing financial sources.
Banco Popolare may split Italease into bad and good company and inject funds into the good company, Milano Finanza said on Saturday without citing its sources.
* CARIPARMA-FRIULADRIA
At June 30, the group of Credit Agricole (CAGR.PA) expects
results showing it will be above its own targets but profits
will be below last year's, CEO Guido Corradi told La Repubblica
on Monday. It is aiming for 1,000 branches in Italy.
SMALL AND MID-CAPS
GRUPPO COIN (GCN.MI)
The summer sales season started "well enough" for the department store chain, CEO Stefano Beraldo is quoted saying in Monday's Repubblica, adding there will be growth in the first half of the year compared to last year. For 2009, forecasts eye growth in core and net profit while debt should fall, he said.
ANSALDO STS (STS.MI)
Ansaldo's order intake can reach 1.6 billion euros in 2009, 23 percent up from last year and better than a 1.3-1.5 billion euro range forecast in March, Il Sole 24 Ore said on Sunday in its "Letter to the Investor" page.
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