April 4, 2014 / 4:00 AM / 4 years ago

Italy - Factors to watch on April 4

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 (*).

POLITICS

Italy passed legislation on Thursday to eliminate wasteful layers of government at the provincial level in the initial step of Prime Minister Matteo Renzi’s ambitious reform agenda.

Renzi’s reform agenda is ambitious, the head of the International Monetary Fund Christine Lagarde said in an interview in Corriere della Sera.

The government will cut its forecast for economic growth in 2014 to 0.8 percent from 1.1 percent in its economic planning document, La Stampa said.

The cabinet meets on Friday at 0800 GMT.

International Ambrosetti annual business workshop begins in Cernobbio (Como), ends on April 5.

ECONOMY

European shares rose on Thursday, with some benchmark indexes hitting multi-year highs, after the European Central Bank opened the door for unconventional measures to thwart the risk of deflation.

COMPANIES

BANCA MONTE DEI PASCHI DI SIENA

The foundation which was previously the biggest shareholder in Monte dei Paschi di Siena has sold more shares in the bank and now has a 3.1 pct holding, it said on Thursday.

BANCO POPOLARE, BLACKROCK

U.S fund manager BlackRock, which has been on a shopping spree in Italy over the past six weeks, is now the biggest shareholder in Italian cooperative lender Banco Popolare, with a 6.85 percent stake.

Italy is a big opportunity for BlackRock, the US fund’s country head for Italy said in an interview in Il Sole 24 Ore. Small and large companies in the energy, telecommunications, banking and manufacturing sectors are extremely attractive, Andrea Vigano said, adding the fund will invest more in Italy.

UNICREDIT

At least 3 non-binding offers have come in for a majority stake in UniCredit’s non-performing loan unit UCCMB, Il Sole 24 Ore said. The offers came from US group Fortress, Italy’s Prelios and a consortium of US’s Cerberus and Jupiter

BANCA CARIGE

Orders without a price limit on the saving shares of Italian bank Carige will be banned on Friday, the Italian stock exchange said on Thursday.

MEDIASET, EI TOWERS

The Italian TV company said on Thursday it had started a placement of 25 percent of broadcasting towers unit EI Towers to raise money to help fund growth in its core business.

* TELECOM ITALIA

Intesa Sanpaolo has sold part of its financing credit to Telecom Italia’s main owner Telco to Societe Generale, Telco said.

ENI

The Italian oil and gas group said it had thought of leaving Nigeria because of the problem of oil theft there, but the possibility is no longer on the table.

The oil major holds a news conference on Friday to present a new campaign called ‘eni corporate’, with CEO Paolo Scaroni (0930 GMT).

ENEL

The Italian utility is close to signing a 20-year deal to buy gas from U.S. liquefied natural gas (LNG) producer Cheniere Energy, a senior company executive said on Thursday.

SAIPEM

Brazilian state-run oil company Petroleo Brasileiro SA suffered another setback in its effort to boost oil output last month when Italian contractor Saipem SpA dropped a 2.3 km steel pipe into the Atlantic Ocean.

The Roncador accident will put off work until later this month at the earliest as Petrobras and Saipem design a remedial plan, sources said on condition of anonymity.

FONDO STRATEGICO ITALIANO (FSI)

A number of foreign funds are vying to take over Spain’s Deoleo, the world’s top olive oil bottler with brands like Carbonell, a source close to the deal said on Thursday, in a deal that has become highly politicised. Italy’s state-backed fund FSI has expressed an interest in Deoleo.

AGRONOMIA

Agriculture company presents plan to list on AIM segment of Milan Stock Exchange (0830 GMT).

DOLCE AND GABBANA

Verdict expected on Friday in appeals trial of fashion designers Domenico Dolce and Stefano Gabbana regarding charges of tax evasion.

ALITALIA

The European Parliament on Thursday voted to exempt international flights from paying for their carbon emissions following intense pressure from national governments not to extend current rules beyond domestic air travel.

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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