December 1, 2016 / 5:00 AM / a year ago

Italy - Factors to watch on Dec. 1

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 (*).

For a complete list of diary events in Italy please click on .

POLITICS

Two-time Italian premier Romano Prodi on Wednesday backed Prime Minister Matteo Renzi’s flagship constitutional reform and said he would vote in favour of it in a referendum this weekend.

ECONOMY

Markit/ADACI releases November PMI manufacturing (0845 GMT).

ISTAT releases October unemployment rate data (0900 GMT) and Q3 GDP final data (1000 GMT).

November state sector borrowing requirement data.

COMPANIES

UNICREDIT, INTESA SANPAOLO, MONTE DEI PASCHI

Italy’s top three banks UniCredit, Intesa Sanpaolo and Monte dei Paschi will need to hold additional capital against their assets from 2018 as they are “systemically important institutions”, the Bank of Italy said.

(*) ITALIAN BANKS

Starting from Friday Italian lenders will receive SREP results from the Single Supervisory Mechanism, Il Messaggero reported adding that capital requirements for 2017 will not be higher on average than last year.

Bank bailout fund Atlante will submit in the coming days an offer to buy 800 million euros in bad loans and a “significant amount” of unlikely to pay loans from three rescued lenders, Il Messaggero said. The newspaper added the fund would pay 25-30 percent of face value for the bad loans and 35 percent for the unlikely to pay loans.

BANCA MONTE DEI PASCHI DI SIENA

The Italian bank said on Wednesday it had bought a nominal 3.0 million euros of its Upper Tier II 2008-2018 bond and sold 1.4 million euros of the same bond. (*) The board of the bank has decided not to include its 2008-2099 Fresh financial instruments in its debt swap offer, Il Messaggero and La Stampa reported citing sources.

(*) BANCA POPOLARE DELL‘EMILIA ROMAGNA

The Italian bank is considering submitting a new offer for CariFe, one of four small banks Italy rescued from bankruptcy a year ago, MF reported, adding the sticking points in the deal remained layoffs and bad loans. The paper said the FTID deposit-guarantee fund may put in some capital.

FIAT CHRYSLER AUTOMOBILES

Transport Ministry releases November car sales data (1700 GMT).

ATLANTIA, SAVE

The infrastructure group said on Wednesday it would buy an additional 0.8 percent stake in Venice’s airport operator SAVE raising its overall holding to 22.1 percent.

BANCO POPOLARE, BANCA POPOLARE DI MILANO

The two banks on Wednesday outlined the top management structure of the group that will be born from their merger and will be led by BPM CEO Giuseppe Castagna.

BANCA IFIS

The Italian bank specialised in non-performing loans (NPLs) will unveil a new business plan in the first quarter of 2017 following the recent acquisition of GE Capital, CEO Giovanni Bossi said on Wednesday, adding it was considering entering the corporate NPL market. Banca IFIS currently deals exclusively with unsecured NPls, which are mostly personal loans.

ALERION CLEAN POWER

Edison said Eolo Energia, the vehicle it set up with the F2i fund, had bought on Wednesday shares equivalent to 2.466 percent of Alerion at 2.46 eurso each outside the public tender offer Eolo has launched on Alerion.

Eolo Energia renounced on Wednesday the minimum acceptance level of its tender offer on Alerion represented by 50 percent and one share.

Edison said earlier on Wednesday that Eolo’s holding in Alerion had reached 14.66 percent of the company’s capital, to which a further 16.03 percent stake already held by F2i had to be added. Eolo warned Alerion shareholders that had tendered their shares under a rival offer launched by Fri-El that they would not be able to sell all of their shares to Fri-El.

POSTE ITALIANE

Ruling expected over 338 milion euros damage request from H3G to Poste Italiane.

SPACE2

Ordinary and extraordinary shareholders’ meeting (1000 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

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