March 21, 2017 / 5:03 AM / 8 months ago

Italy - Factors to watch on March 21

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 (*).

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

POLITICS

Italian and European officials said on Monday they are ready to send equipment and economic aid to Libya to help it fight people smuggling, as the leader of Tripoli’s U.N.-backed government sought more resources.

Japanese Prime Minister Shinzo Abe meets Italian Prime Minister Paolo Gentiloni (1600 GMT) during his visit in Italy; followed by news conference (1815 GMT).

COMPANIES

(*) BANKS

Economy Minister Pier Carlo Padoan meets the EU Competition Commissioner Margrethe Vestager on Tuesday to discuss requests for state support put forward by ailing banks Monte dei Paschi, Popolare di Vicenza and Veneto Banca.

MEDIASET

A Milan court holds the first hearing of the lawsuit launched by the Italian broadcaster against France’s Vivendi over a disputed pay-TV deal.

(*) Vivendi executives are expected to meet with AGCOM officials on March 23 as part of the Italian communication regulator’s inquiry into the French group’s stakebuilding at Mediaset, La Stampa said, citing rumours.

(*) POSTE ITALIANE, ENI, ENAV, LEONARDO

The most likely scenario after the appointment of a new CEO at the Italian post office - which makes it impossible for the government to sell a further 30 percent stake on the market this year as planned - is the sale of that stake to Cassa Depositi e Prestiti (CDP), Il Sole 24 Ore reported. The paper said the Treasury had also a plan B - to offset the impact on the debt of a worst case economic scenario - which envisaged transferring to CDP stakes in companies such as Eni, Leonardo, Enav with a view to a possible sale of a stake in CDP to a foreign investor.

(*) MONTE DEI PASCHI DI SIENA

The European Central Bank completed in February an on-site inspection on the bank’s loan book started in May 2016, the bank said in a document posted on its website ahead of an April 12 shareholder meeting. The ECB is yet to communicate the outcome of that inspection - which looked at how loans are classed, their coverage levels and the value of collateral - and will take it into account in its assessment of the bank’s solvency.

(*) Volumes of direct retail funding are broadly unchanged compared to the end of last year, the bank said in a document on its website.

(*) BANCA CARIGE

The bank holds a board meeting on Tuesday to discuss a letter from the European Central Bank and one from market regulator Consob which is asking Carige to publish more details on a lawsuit against former managers and loan loss provisions, Il Messaggero reported without citing sources. The paper also said a court in Genoa is set to discuss on Tuesday a request by U.S. fund Apollo Global Management to freeze voting rights of Carige’s top shareholder Malacalza Investimenti at a March 28 shareholder meeting on the grounds its dominant position has not been authorised by the ECB.

INTESA SANPAOLO

The lender has set an April 4 deadline to submit binding offers for a bad loan portfolio worth 2.5 billion euros it has put up for sale and for which it expects to receive three bids, two sources familiar with the matter said on Monday.

BANCA GENERALI

The lender appointed on Monday Gian Maria Mossa new CEO of the company.

PARMALAT

Takeover offer by France’s Lactalis ends (extended from March 10).

(*) ALITALIA

The carrier’s creditor banks are in talks with the Italian government for the state to provide loan guarantees for 200 million euros, La Stampa said in an unsourced report. The loan would be in the form of ‘contingent equity’ that would be made available when necessary, the paper added.

PININFARINA

Board meeting on FY results.

ARNOLDO MONDADORI EDITORE

Board meeting on FY results, followed by meeting with analysts (1600 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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