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Italy - Factors to watch on March 21
March 21, 2013 / 5:01 AM / 5 years ago

Italy - Factors to watch on March 21

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 (*).

CYPRUS CRISIS

Cyprus pleaded for a new loan from Russia on Wednesday to avert a financial meltdown, after the island’s parliament rejected the terms of a bailout from the EU, raising the risk of default and a bank crash.

The Cyprus stock exchange said it had extended the suspension of trading to Thursday and Friday.

Russia’s Finance Minister Anton Siluanov said that talks with his Cypriot counterpart Michael Sarris will continue on Thursday.

ITALY POLITICS

Italian President Giorgio Napolitano began consultations with political leaders on Wednesday to try to find a way of forming a government after the deadlocked election last month left no party with a majority in parliament.

EUROPEAN BANKERS BONUSES

European Union lawmakers are expected to agree on Wednesday to bar bankers in Europe from getting bonuses bigger than their salary, with just the timing of the first cap of its kind globally to be decided.

BANCA CARIGE

Italian regional lender Banca Carige wants to sell insurance businesses and property to avoid having to raise money from shareholders to plug an 800 million euro ($1.03 billion) hole in its capital base.

ENI

Italy’s Eni is open to talks with Gazprom about a possible partnership in Mozambique but is not aware of any interest from the Russian state gas monopoly in buying a stake in its gas assets there.

PARMALAT

Italy’s dairy group Parmalat, at the centre of a legal dispute over its $900 million acquisition of a U.S. sister company last year, expects core profits and sales to rise about 5 percent in 2013 as it focuses on new products and foreign markets.

* FONDIARIA-SAI

The insurer, slated to merge with peer Unipol, said on Wednesday its consolidated solvency margin ratio - a measure of financial strength - stood at 109.5 percent at the end of December from 78.2 percent at the end of 2011.

The group booked a consolidated loss of 799.6 million euros in 2012.

* PIRELLI, PRELIOS, CAMFIN

Investment fund Feidos on Thursday is expected to finalise a debt restructuring deal with holding company Camfin and a pool of banks to rescue real estate asset management company Prelios, La Repubblica said on Thursday without citing its sources.

The agreement would pave the way for a planned capital increase at Prelios of up to 185 million euros.

Prelios is controlled by Pirelli CEO Marco Tronchetti Provera through the Camfin holding company.

* TELECOM ITALIA

Telco, the vehicle which controls Telecom Italia with a 22.4 percent stake, is close to renew until 2015 a maturing bond for 1.7 billion euros, Il Sole 24 Ore reported on Thursday.

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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