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Italy - Factors to watch on June 12
June 12, 2013 / 4:01 AM / 4 years ago

Italy - Factors to watch on June 12

The following factors could affect Italian markets on Wednesday.

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

POLITICS

Sweeping wins for the centre left in Italy’s local elections have sounded alarms for Silvio Berlusconi and Beppe Grillo, the charismatic figures who emerged as the big winners from February’s deadlocked national vote.

Prime Minister Enrico Letta meets Slovenian counterpart Alenka Bratusek (1100 GMT); followed by news conference.

Prime Minister Enrico Letta attends congress by trade union CISL- 1500 GMT.

DEBT CRISIS

Treasury sells 7.0 billion euros 12-month BOTs, short-term bills (364 days). Subscriptions close at 0900 GMT.

The euro zone sovereign debt crisis is largely over and bond yields in the region are close to levels that are justified by national economic conditions, the deputy governor of Italy’s central bank said on Tuesday.

“The sovereign debt crisis is to a large extent over,” Salvatore Rossi said at a conference in Milan.

Also late on Tuesday, Bundesbank chief Jens Weidmann told Germany’s Constitutional Court he saw a risk that the European Central Bank’s (ECB) bond-buying (OMT) programme could slow euro zone reforms and dent the bank’s credibility.

ECONOMY

National statistics institute ISTAT releases May final CPI and HICP data (0800 GMT).

COMPANIES

GENERALI

The insurer’s Chief Executive Officer Mario Greco took another step towards meeting a 4 billion euro ($5.3 billion)disposal target, agreeing to sell out of two Mexican companies for $858 million.

MONTE DEI PASCHI

An Italian judge has ordered three former managers of the bank to stand trial for concealing losses from the Bank of Italy, the country’s lending regulator, judicial sources said on Tuesday. A hearing has been set for Sept. 26, the sources said.

* ALITALIA

Russian airline Aeroflot has expressed an interest in troubled Italian carrier Alitalia, La Repubblica said in an unsourced report. The Italian government is concerned about the financial health of Alitalia, the newspaper also said.

SNAM

The Italian gas transport company said on Tuesday its board had extended its euro medium term note (EMTN) programme for a maximum overall value of up to 10 billion euros ($13.27 billion). Snam said it it would issue one or more bonds for up to 2.5 billion euros, before June 30, 2014.

PRADA

The Italian luxury goods group said it sees growth potential in its smaller brands, which continued to lag the performance of its eponymous fashion label in the first quarter, the company said on Tuesday.

Net sales for its flagship Prada brand grew 18 percent from the same quarter of 2012 to 638.8 million euros ($842.87 million), mainly supported by retail income in Greater China and the Americas.

SEAT PAGINE GIALLE

The indebted yellow pages company holds bond holders’ meetings (1300, 1345, 1430 GMT).

For more details on today’s events please see the full agenda .

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 = 0.7533 euros)

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