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Italy - Factors to watch on Dec. 2
December 2, 2016 / 7:55 AM / 10 months ago

Italy - Factors to watch on Dec. 2

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 (*).

For a complete list of diary events in Italy please click on .

ECONOMY

There will be no impact on public finances if Italians reject a referendum on constitutional reform on Sunday but there could be “48 hours of market turbulence”, Italy’s economy minister told daily newspaper Avvenire on Friday.

Reggio Calabria, Prime Minister Matteo Renzi closes electoral campaign on constitutional reform referendum (1400 GMT).

COMPANIES

BANCA MONTE DEI PASCHI DI SIENA

Monte dei Paschi said on Thursday it had renewed its bancassurance partnership with French insurer Axa to 2027.

Rothschild has given a green light to the offer of Qatar Investment Authority to buy a stake in Monte dei Paschi, Il Messaggero said. QIA, advised by Rothschild, will make its non-binding offer in coming hours, the paper said. Soros, Pimco and Paulson are also ready to invest 100-300 million euros each in the bank, it said.

(*) There will be a meeting on Monday after the referendum between the banking consortium and the lender’s management with the aim of launching the planned cash call from Dec. 9 to 21, Il Sole 24 Ore said.

(*) A request has already been lodged with Brussels to authorise, should it be necessary, full state aid for a nationalisation of the bank which might need to be launched next week, Corriere della Sera said.

Debt-to-equity conversion offer ends on Friday (1500 GMT).

(*) UNICREDIT

Fortress, Pimco and Cerberus, in the race to buy a 20 billion euro bad loan portfolio being sold by UniCredit, have presented new offers, MF said, with a price that is 15 percent higher than the one previously submitted.

(*) MEDIASET, TELECOM ITALIA

Vivendi’s Chairman and top shareholder Vincent Bollore would be willing to resume discussions with Mediaset over its pay-TV arm and the solution he has in mind entails splitting control of Mediaset Premium among Mediaset, Vivendi and Telecom Italia, Il Sole 24 Ore reported citing financial sources. The paper also cited Telecom Italia sources as denying the phone group could get involved.

Netflix’s purchase of Mediaset’s TV series on the pope could pave the way for a broader collaboration, Il Sole said.

(*) ASSICURAZIONI GENERALI, BANCA CARIGE

The insurer holds 50 percent of a 160 million euro Tier 1 bond issued by Carige, Il Giornale reported, adding Generali may be willing to convert it into shares along the lines of what it did with Monte dei Paschi’s subordinated debt.

FIAT CHRYSLER

Italian car sales rose 8.19 percent in November to 145,835 vehicles, the transport ministry says in a statement.

ENI

Eni CEO Claudio Descalzi told journalists on the sidelines of an event he expected production growth of 4 percent, maybe more, next year.

A fire broke out at Eni’s Sannazzaro De’ Burgundi oil refinery in northern Italy on Thursday afternoon, the oil major said, adding there were no reported injuries.

UBI BANCA

UBI CEO Victor Massiah said the bank’s SREP capital target for 2017 will not be revised up.

BANKS

If the government loses a Dec. 4 referendum on constitutional reform it will be harder for Italy’s struggling banks to recapitalise, Economy Minister Pier Carlo Padoan said on Thursday.

ALERION CLEAN POWER

Edison-F2i own an overall 35 percent stake in Alerion, a day before the end of their takeover bid on the renewable energy company.

Eolo Energia Srl, Edison unit, ends full takeover offer on Alerion ordinary shares (started on Oct. 31); FGPA, totally controlled by Fri-El Green Power, takeover offer on Alerion shares ends (started on Oct. 11).

BRIDGE MANAGEMENT

Ordinary shareholders’ meeting to approve delisting of ordinary shares from the AIM segment (1800 GMT).

MOLESKINE

DM Invest Srl full mandatory takeover bid on Moleskine ordinary shares ends.

SAVE

Chairman Enrico Marchi presents industrial plan (0900 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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