January 5, 2015 / 5:01 AM / 3 years ago

Italy - Factors to watch on January 5

The following factors could affect Italian markets on Monday.

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 .

ECONOMY

Italy posted a state sector budget surplus of 5.1 billion euros ($6.1 billion) in December, sharply lower than the 15.58 billion euros posted in Dec. 2013, weighed down by lower tax revenues, higher payments of bills in arrears and debt servicing costs.

Italy’s government halted an overhaul of tax laws on Sunday after a controversy erupted over whether the proposed measures might annul the 2012 tax fraud conviction of former leader Silvio Berlusconi.

The German government wants Greece to stay in the euro zone and there are no contingency plans to the contrary, Vice Chancellor Sigmar Gabriel said on Sunday, responding to a media report that Berlin believes the currency union could cope without Greece.

COMPANIES

Bourse After Hours market closed.

GLOBAL RESORTS, CLUB MEDITERRANEE

Global Resorts, the investment vehicle of Italian tycoon Andrea Bonomi, said on Friday it has decided not to raise its offer for struggling French resort operator Club Mediterranee and to withdraw its bid, ending France’s longest-running takeover battle.

ENI, SNAM

Eni said on Saturday that a pipeline transporting jet fuel from its depot at Civitavecchia to Rome’s Fiumicino airport, which was seized by prosecutors after a spill, was safe.

The European Investment Bank has approved loan financing for a total of 700 million euros to help boost Italy’s gas network and improve security of supply, Il Sole 24 Ore said on Saturday. From that sum, 500 million euros would go to Eni and 200 million to Snam, it added.

MULTIPLE VOTING RIGHTS

Proxy advisors ISS and Glass Lewis have recommended that institutional investors vote against the potential introduction of a multiple voting rights system, Il Sole 24 Ore said on Saturday.

Campari, Astaldi and Amplifon will hold shareholder meetings by Jan. 31 to vote on a simplified procedure that would lead to the introduction of a multiple voting system, the paper added.

LUXOTTICA

Vuzix Corporation said on Friday that Intel Corp invested $24.8 million in the company to speed up the launch of Internet-connected eyewear. A month ago, Luxottica said it was joining forces with Intel to develop glasses that combine its top fashion brands with technology that could allow wearers to access information about their health or location. * The eyeware company will benefit from a weaker euro/dollar exchange rate in its financial results for forth quarter, the company was quoted as saying by daily La Stampa on Monday.

* GEOX

The management of the shoemaker is studying the relaunch of the brand in the United States to reap benefits deriving from a stronger dollar against the euro, the company was quoted as saying by La Stampa on Monday.

BANCA MONTE DEI PASCHI DI SIENA, CARIGE

The ECB is expected to give its final approval to the two lenders’ capital boosting plans at a meeting on Feb. 4, Il Sole 24 Ore said on Saturday in an unsourced report.

The government is working on reforms in the banking sector that could facilitate a potential tie-up between Monte Paschi and UBI Banca and between Banca Carige and Banca Popolare di Milano, the paper added.

CARIGE

La Stampa on Sunday reiterated in an unsourced report a possible interest from Andrea Bonomi in a 20 percent stake in Carige. According to the paper, Bonomi could buy 7 percent from the Carige Foundation and acquire the remainder on the market, most likely before the bank’s planned capital increase.

Carige’s recapitalisation consortium, led by investment bank Mediobanca, has raised the amount it would guarantee in the lender’s capital increase to 700 million euros from 650 million euros, La Repubblica said on Sunday.

BANCO POPOLARE

The lender has closed 112 branches in 2014 and has reduced its personnel by 446 people, Il Sole 24 Ore said on Saturday. In 2015, a further 445 people are expected to leave the company and the bank will hire 115 as part of ongoing reorganisation efforts, the paper added.

TELECOM ITALIA, GENERALI

Generali has put measures in place to protect its shareholding in the phone group after a planned break-up of shareholder pact Telco that could happen within two months, Il Sole 24 Ore said on Sunday, without giving details.

FIAT CHRYSLER AUTOMOBILES

New car sales in Italy, Europe’s fourth-largest car market, rose 2.35 percent in December from the same month a year ago to 91,518 vehicles, Italy’s transport ministry said on Friday. In all of 2014, car sales in Italy rose 4.21 percent to 1.36 million vehicles, the ministry added.

Automotive research group Centro Studi Promotor said on Friday it expects Italian car sales to rise 5.2 percent this year, boosted by a car replacement cycle. The number could easily be surpassed if the government introduced measures to spur demand, it added. Foreign carmakers’ association UNRAE sees Italian car sales increasing around 3 percent in 2015.

BANCA POPOLARE DELL‘EMILIA ROMAGNA

The lender is expected to present a new industrial plan by mid-February, Il Sole 24 Ore said on Saturday. The bank is also ready to ask the European Central Bank for a validation of its internal ratings, the paper added. The company could be interested in a tie-up with Carife, an institute put under special administration by the Bank of Italy, the paper said, also mentioning a possible aggregation between Popolare Emilia Romagna, Veneto Banca e Sondrio.

CAMPARI

Pernod Ricard plans to invest in Italy to become the second biggest player in the country after Campari, Chief Executive-designate Alexander Ricard told Il Sole 24 Ore in an interview published on Sunday.

SEAT PAGINE GIALLE

The company said on Friday that Guido de Vivo had resigned from his role as chairman of the board of directors.

MERIDIANA

The emirate of Qatar is interested in buying a 20 percent stake in airline Meridiana, La Stampa said 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:...............................

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