October 15, 2012 / 4:00 AM / 5 years ago

Italy - Factors to watch on Oct. 15

The following factors could affect Italian markets on Monday.

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy.

EURO ZONE

Spain could ask for financial aid from the euro zone next month and if it does the request would likely be dealt with alongside a revised loan programme for Greece and a bailout for Cyprus in one big package, euro zone officials said in Tokyo during the weekend.

Euro zone officials are considering new ways to reduce Greece’s huge debts because delays to reforms by Athens and continued recession have put the target of a debt to GDP ratio of 120 percent in 2020 out of reach, euro zone officials said.

German Finance Minister Wolfgang Schaeuble said on Sunday that Greece would not default, but warned that if Athens did exit the eurozone it would be damaging not only for the zone as a whole but also for Greece.

ITALY

Further help to weaker euro zone members would push Italy’s public debt higher, Italian Finance Minister Vittorio Grilli was quoted as saying in an interview with daily La Repubblica published on Monday.

The parties that support Italian Prime Minister Mario Monti’s unelected government demanded changes to his budget on Saturday, saying it would hurt households already suffering from austerity measures.

UNICREDIT

Italy’s biggest bank by assets said it has hired Waleed El-Amir, previously the Middle East and North Africa investment banking head for Bank of America, to head its funding and investment portfolio business globally.

FINMECCANICA

Fondo Strategico Italiano and a group Italian investors plan to make an offer for a “significant” minority stake in Finmeccanica power engineering unit AnsaldoEnergia, the state-backed fund said on Friday.

FSI aims to purchase a 30 percent stake in AnsaldoEnergia while parent-company Finmeccanica will probably keep a 25 percent stake in its power engineering unit, Il Sole 24 Ore reported on Sunday.

Germany’s Siemens is prepared to walk away from its 1.3 billion euro offer to buy Finmeccanica’s AnsaldoEnergia after a political backlash triggered the bid by Italian state-backed fund FSI, the Financial Times reported on Monday.

The Italian government has scrapped a planned Oct. 16 meeting with the top management of state-backed defence group Finmeccanica in which they expected to discuss the prospects for alliances and developments in the sector.

FIAT

Italy’s government and car maker Fiat SpA have begun looking for ways the state can help the company increase its exports in return for commitments from Fiat, Prime Minister Mario Monti said on Friday.

Saudi Arabian prince Salman bin Abdul Aziz bin Salman Al Saud said in an interview with Italian daily Corriere della Sera on Sunday he is seeking investment opportunities in Italy. He did not exclude considering Fiat as an option.

TELECOM ITALIA MEDIA

Italian private equity fund Clessidra will present a binding offer worth 350 million euros ($453.84 million) for the whole Italian broadcaster Telecom Italia Media, Il Sole 24 Ore reported on Sunday.

Italy’s Cairo Communications is ready to team up with Hutchison Whampoa unit H3G to make an offer for TI Media, La Stampa reported on Sunday.

BANCA MONTE DEI PASCHI

Monte dei Paschi foundation, the main bank’s shareholder, will be able to keep a pivotal role in the lender even if it were to cut its stake under 20 percent, the head of foundation said on Sunday in an interview with Il Sole 24 Ore.

ITALIAN BANKS, INTESA SANPAOLO

Intesa SanPaolo Chief Executive Enrico Cucchiani told Il Messaggero on Saturday he does not see any Spanish-style real estate crisis in Italy as the country’s economy is much more diversified than in Spain.

Italy’s banking association chief said on Saturday a planned financial transaction tax, a so-called Tobin-tax, that Rome and 10 other euro zone countries are due to adopt in the future would not damage the country’s lenders.

IMPREGILO

The Italian builder will evaluate a proposal from Primav Construcoes to buy a stake in Impregilo unit Ecorodovias in a board meeting on Tuesday, Impregilo Chief Executive Pietro Salini told Il Sole 24 Ore on Saturday. Salini defended the controversial deal but refused to say whether it will lead to the payment of an extra dividend.

LOTTOMATICA

The Italian gaming group said on Saturday its subsidiary GTECH Indiana LLC has signed the 15-year Integrated Services Agreement (ISA) with the Indiana Lottery.

* MARCOLIN

Shares in eyewear maker Marcolin suspended ahead of a press statement. The group is in advance talks to sell a controlling stake.

IREN

The Italian regional utility could receive two power plants worth roughly 300 million euros in exchange for exiting Edipower as soon as early next year, Il Sole 24 ore reported on Sunday.

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:...............................

$1 = 0.7712 euros

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below