November 13, 2012 / 5:00 AM / 5 years ago

Italy - Factors to watch on Nov 13

The following factors could affect Italian markets on Tuesday.

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

ITALY DEBT CRISIS

The percentage of Italian state debt held by foreign investors has fallen to about 35 percent from 51 percent in mid-2011, the head of Italy’s public debt Maria Cannata said on Monday.

The Treasury sells 6.5 billion euros of 12-month BOT bills on Tuesday.

TELECOM ITALIA

Egyptian tycoon Naguib Sawiris has offered to buy a stake in Telecom Italia, he and Italy’s largest telecoms company said on Monday, in the latest sign of interest from emerging-markets investors in struggling euro zone companies.

Naguib Sawiris is shaking up the stagnant Telecom Italia . The Egyptian mobile tycoon, who sold out of the rival Wind network last year, now wants to re-enter Italy’s telecoms sector by investing in the incumbent operator.

* Sawiris wants to invest 3-4 billion euros in Telecom Italia to help fund an acquisition by the Italian incumbent of Brazil’s Global Village Telecom being sold by Vivendi, Il Messaggero said. A report in Corriere della Sera also says the money from Sawiris would help finance the purchase of GVT.

* A recent draft decree on the golden share would allow the government to keep a grip on Telecom Italia and the network and would be a way of blocking or mitigating any move by Sawiris, MF said.

* The shareholders of Telco, the vehicle that controls Telecom Italia, are split on their approach to the Sawiris offer, Il Sole 24 Ore said. Intesa Sanpaolo is in favour, Mediobanca is neutral while insurer Generali and Spain’s Telefonica are against, it said. It added the Sawiris offer is 3 billion euros.

FIAT

Fiat must more than double its offer for a 3.3 percent stake in automaker Chrysler Group LLC that is held by a union-related trust, the trust claimed in a countersuit filed on Monday.

* ERG

Italian energy group ERG on Tuesday confirmed its outlook for the year after reporting a 4 percent rise in core earnings in the third quarter boosted by its renewable energy business.

PIRELLI

Pirelli has trimmed its sales forecast for 2012 and raised its net debt target as the ongoing economic slowdown in southern Europe takes its toll on volumes.

The chairman of Pirelli, Marco Tronchetti Provera, will go to trial over a long-running probe into alleged use of Telecom Italia data to snoop on Italy’s elite.

INTESA SANPAOLO, UNICREDIT

Italy’s top two banks present third-quarter results on Tuesday.

* Pekao, Poland’s No.2 lender, reported a 4 percent rise in net profit on Tuesday after some trading gains helped offset fresh provisions for bad loans to the ailing construction sector.

* CAMFIN, PIRELLI

Private equity groups Investindustrial and Clessidra are in talks to pay 40-50 million euros to buy into MTP Sapa, a holding company controlled by Pirelli head Marco Tronchetti Provera, newspapers said.

CUCINELLI

Italian cashmer maker Brunello Cucinelli said on Monday its net profit in the first nine months was flat as higher costs offset a 15 percent rise in sales.

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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