May 12, 2014 / 4:01 AM / 3 years ago

Italy - Factors to watch on May 12

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 (*).

POLITICS

Italy will propose offering European Union member states that undertake structural reform more flexibility on budget rules when Rome assumes the presidency of the 28-member bloc later this year, Prime Minister Matteo Renzi said on Friday.

ECONOMY

Italy’s state-backed fund FSI is likely to announce in coming months a deal to take over a leading hotel chain, as part of a project to create a property fund open to other investors, FSI head Maurizio Tamagnini told Il Sole 24 Ore on Saturday. FSI would then look to sell its holding to an investor specialising in hotel management along the lines of what it did with Ansaldo Energia.

DEBT

Treasury sells 6.5 billion euros of 12-month BOT bills, maturing on May 14, 2015. Subscriptions close at 0900 GMT.

COMPANIES

UNICREDIT, BANCA MONTE DEI PASCHI DI SIENA

The boards of the two banks meet on first-quarter results.

UniCredit has started talks with trade unions over the 7,300 layoffs envisaged by its 2014-2018 business plan, Il Sole 24 Ore said on Saturday.

French insurer AXA will take part in Monte dei Paschi’s capital increase, the head of the group’s Italian unit AXA Assicurazioni reiterated in an interview with Sunday’s Corriere della Sera. Frederic De Courtois also said AXA Assicurazioni would start working with other banks too though MPS would remain its most important banking partner in Italy.

ENI

The oil group on Friday formally appointed Claudio Descalzi as its new chief executive. Descalzi will also remain for the moment head of ENI’s Exploration & Production Division. * The Economy Minister is considering including the sale of a further 10 percent of both ENI and ENEL from 2016 in the government’s four-year privatisation plan to ensure sufficient revenues to cut public debt, la Repubblica said in an unsourced report.

* DEA CAPITAL

Australia’s Ramsay Health Care RHC.AX has presented a joint non-binding offer together with Credit Agricole Assurances and Ramsay Sante to buy 83.43 percent of Generale de Sante GDSF.PA, Italian holding company DeA Capital said on Monday.

BANCA POPOLARE DI MILANO

The co-operative lender said on Friday its net profit rose 12 percent in the first quarter helped by higher interest income and fees as the Italian economy left behind a two-year contraction but remained fragile.

CEO Giuseppe Castagna told Class CNBC that the bank would seek to play an “active role” - once it completes its capital strengthening plans - in a potential fresh wave of mergers among Italian lenders, Milano Finanza reported on Saturday.

BANCA CARIGE

The Carige foundation, the top shareholder in the Genoa-based bank, has received from the Treasury the authorisation it was awaiting, allowing it to cut its stake to 19 percent from 43.4 percent, Il Sole 24 Ore said on Saturday in an unsourced report.

Italian businessman Andrea Bonomi is readying an offer to buy 20 percent of Carige from the foundation, the paper said. U.S. hedge funds may buy small packets of shares and other small holdings could be sold on the market.

FIAT CHRYSLER AUTOMOBILES

Chrysler said on Friday it was recalling an estimated 780,477 minivans after reports of overheating, including some fires, in third-row power window vent switches.

Union leader Rocco Palombella told Il Giornale on Saturday that trade unions had asked to meet by the end of the month either CEO Sergio Marchionne or EMEA head Alfredo Altavilla over the car marker’s investment and production plans in Italy.

Actor Dustin Hoffman made Alfa Romeo trendy for Americans by driving a red Spider 1600 in the 1967 movie “The Graduate,” but Alfa sales never took off in the North American market and the company ultimately pulled out.

TERNA

Greek power grid operator ADMIE attracted five expressions of interest, as the government seeks to sell a controlling stake, state-controlled power utility PPC said on Friday. Terna is among the suitors, two sources said.

* PRELIOS

The real estate group is set to strengthen its ties with Fortress Investment Group by merging its asset manager and non-performing loan units, respectively, with Torre SGR and Italfondiario, both of which are controlled by the U.S. group, la Repubblica Affari&Finanza said. UniCredit’s Pioneer owns 30 pct of Torre SGR while Intesa Sanpaolo has a 12.5 pct stake in Italfondiario. The deal is expect to close by July, the paper said.

MEDIOLANUM

Italian asset manager said on Friday total net inflows at its Banca Mediolanum unit were 352 million euros in April.

SEAT PAGINE GIALLE, DMAIL

Italian businessmen Antonio Percassi and Vittorio Farina have submitted a binding expression of interest for Seat Pagine Gialle and Seat Pagine Gialle Italia through jointly-controlled vehicle D.Holding.

The final aim is a merger between the two yellow-pages companies and online shopping group DMail, which the two businessmen are set to take over by converting debt, D.Holding said in a statement on Friday.

INDESIT

U.S. home appliance maker Whirlpool, South Korean rival LG, Germany’s Siemens, China’s Qingdao Haier and Turkey’s Arcelik are studying Indesit’s financial data before presenting a binding offer to buy part of the Italian white goods maker from its top investor Fineldo, la Repubblica said in an unsourced report on Sunday.

* MEDIASET

The broadcaster opened on Friday the data room of its pay-tv business to potential partners, la Repubblica Affari & Finanza said in un an unsourced report.

UBI BANCA

Shareholders approved on Saturday governance changes that boost the influence of institutional investors, as Italian co-operative banks seek to reform following recommendations from the Bank of Italy.

BENI STABILI

Beni Stabili Gestioni, Polaris Real Estate SGR and Investire Immobiliare are close to signing an accord to merge which will create Italy’s second-biggest real estate asset manager, with more than 7 billion euros in properties under management, Il Sole 24 Ore said in an unsourced report on Saturday.

PRADA

The start of the year has been “still volatile” for the luxury group that blames mainly weak European markets for that and is more optimist about the second half of 2014, Il Sole 24 Ore said on Sunday.

AS ROMA

The football club said on Sunday it had extended to June 30, 2018 the contract with player Miralem Pjanic which was due to expire in June next year.

A2A

The cities of Milan and Brescia, top shareholders in the utility, are still at odds over the name of the new chief executive after picking Giovanni Valotti as chairman ahead of a May 19 deadline to present their slate of board candidates, Il Sole 24 Ore reported on Sunday without quoting sources.

SOCIETA AEROPORTO TOSCANO GALILEO GALILEI

The core shareholders in Pisa’s airport said on Saturday they backed the board’s rejection of a buyout offer submitted by Corporacion America Italia.

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CLASS EDITORI

Extraordinary shareholders’ meeting (0730 GMT).

IMVEST

Annual general meeting (1000 GMT).

LVENTURE GROUP

Reverse stock split, one new ordinary share every ten ordinary shares owned.

ROSSS, SOL, FIRST CAPITAL

Annual general meeting (0630 GMT) and board meeting on Q1 results.

Board meeting on Q1 results: ACSM-AGAM, ALERION CLEANPOWER, BANCA MONTE DEI PASCHI DI SIENA, BIESSE, BRUNELLO CUCINELLI followed by conference call, CREDITO BERGAMASCO, DE’ LONGHI , FIERA MILANO, GRUPPO MUTUIONLINE, IL SOLE 24 ORE, MARR, MOLMED, NICE , PRIMA INDUSTRIE, SEAT PAGINE GIALLE , TELECOM ITALIA, UNICREDIT followed by conference call (1200 GMT), VITTORIA ASSICURAZIONI .

Ex-dividend: AEROPORTO DI FIRENZE 0.04 euro per share; AMPLIFON 0.043 euro per share; ASTALDI 0.19 euro per share; BENI STABILI 0.022 euro per share; BREMBO 0.50 euro per share; CAIRO COMMUNICATION 0.27 euro per share; COMPAGNIA DELLA RUOTA 0.0388 euro per category A share and 0.0082 euro per category B share; DATALOGIC 0.16 euro per share; KI GROUP 0.19 euro per share; ROSETTI MARINO 0.50 euro per share; VITTORIA ASSICURAZIONI 0.18 euro per share; WM CAPITAL 0.003 euro per share; ZIGNAGO VETRO 0.22 euro per share.

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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