October 24, 2013 / 3:04 AM / 4 years ago

Factors to watch on October 24

6 Min Read

The following factors could affect Italian markets on Thursday.

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).

Politics

Silvio Berlusconi was ordered to stand trial for corruption on Wednesday, in a fresh legal blow to the former Italian prime minister following his conviction for tax fraud in August and a string of other cases.

Naples prosecutors accuse Berlusconi of bribing Sergio De Gregorio, a former senator in the small Italy of Values party, to switch allegiance as part of an attempt to bring down the centre-left government of former Prime Minister Romano Prodi in 2006.

Secretary of State John Kerry promised on Wednesday that U.S. authorities would look into whether their intelligence services may have illegally intercepted Italian telecoms data, an Italian government source said.

Economy

National statistics institute ISTAT releases October consumer confidence data (0800 GMT) and September wage inflation data (0900 GMT).

Debt

Italy will offer up to 2.25 billion euros of zero-coupon bonds (CTZ) and up to 750 million euros of bonds linked to euro zone inflation (BTPEIs) at a regular end-month auction on Oct 28, the Treasury said on Wednesday.

Treasury to announce later on Thursday sale of BOTs, short-term bills, with relative amounts to be auctioned on Oct. 29.

Companies

Banks

Italy's banking system faces no threat from the European Central Bank's upcoming review of risk in the banking sector, Economy Minister Fabrizio Saccomanni said after the tests were outlined on Wednesday.

Fiat

Italian carmaker Fiat is likely to miss sales targets in Brazil this year and next, according to a person familiar with the matter and a document seen by Reuters, increasing the chance of a 2013 profit warning already predicted by some analysts.

* Intesa Sanpaolo

The chairman of the bank's management board said in an interview in Il Messaggero that Italian banks have little to fear from the ECB's upcoming review of risks in the banking sector, adding Intesa was already above requirements and in a position to take any action needed.

Banca Carige

The lender's controlling shareholder Fondazione Carige told the Economy ministry it plans to cut it 46.7 percent stake in Carige and sell part of its holding in state-holding CDP with an aim to raise 52 million euros by the end of this year and 60.7 million euros by the end of the next, La Stampa reported. The foundation should be expected to sell nearly 5 percent of Carige by end-2014, the paper said.

Autogrill, World Duty Free

Italian corporate holding Edizione Srl said on Wednesday it had started to sell shares in Autogrill and World Duty Free via an accelerated bookbuilding that will reduce its stakes in each of the two companies to about 50.1 percent.

* Telecom Italia

Shareholder Marco Fossati flew to New York to seek support from Blackrock and other funds to reach more than 20 percent of capital as part of his move to call a shareholders meeting to challenge the board over the deal with Spain's Telefonica, Il Sole 24 Ore said.

* Monte Paschi Di Siena

The bank's CFO has been in London to sound out investors over plans for a capital increase which it would like to launch in May, La Repubblica said.

Unipol

Shares in Unipol fell sharply on Wednesday after the insurer disclosed a July 25 letter sent by industry regulator IVASS calling on it to cut its large structured derivatives portfolio. * Belgium's Ageas is looking to finalise the acquisition of assets Unipol has to sell as part of its plans to merge with Fondiaria SAI, Il Sole 24 Ore said. But other groups are interested, it added.

Alitalia

HNA Group, the parent company of China's No.4 airline Hainan Airlines, denied a newspaper report on Wednesday saying it was interested in a tie-up with loss-making Italian carrier Alitalia.

Amplifon holds board meeting on Q3 results.

Montefibre holds board meeting on 2012 FY results (1300 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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