October 15, 2013 / 4:02 AM / 4 years ago

Italy - Factors to watch on October 15

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 (*).

POLITICS

The Italian cabinet will try to agree on Tuesday on a 2014 budget geared to reviving a chronically stagnant economy by cutting taxes and spending, while keeping the budget deficit inside the EU ceiling.

ECONOMY

Bank of Italy releases August data on public finance, state borrowing and debt on Tuesday.

DEBT

Italy’s 2014 budget law will prevent regional governments and local authorities from using derivatives contracts, according to a draft budget document seen by Reuters on Monday.

COMPANIES

FIAT

The United Auto Workers-affiliated healthcare trust valued its ownership stake in Chrysler Group LLC at $3.6 billion by the end of 2012, up from $2.7 billion the previous year, a recent filing with the U.S. Department of Labor.

Fiat will have to wait longer than hoped to settle the price to buy out a minority shareholder of its Chrysler business after a judge on Monday set a September 2014 trial.

* MONTE DEI PASCHI

The lender will finalise the sale of its back office business by the end of this month, Il Sole 24 Ore reported.

Board member Turiddo Campaini has resigned, the bank said in a statement on Tuesday.

MEDIASET

The Italian broadcaster said on Monday domestic advertising revenues in the third quarter were in line with a year ago, following nearly two years of declines.

RCS MEDIAGROUP

The shareholder pact controlling RCS MediaGroup has been wound up ahead of time, a move expected to cut shareholder interference in the loss-making publisher of Italy’s leading newspaper Corriere della Sera.

* ALITALIA

Shareholders in the loss-making airline approved on Tuesday a capital increase for up to 300 million euros ($407.58 million).

Poste Italian Chief Executive Massimo Sarmi will meet Air France-KLM chairman in Paris on Tuesday, Corriere della Sera reported.

A leading European airline group denounced Italian plans to rescue Alitalia as illegal on Monday, as shareholders were due to vote on a capital increase to keep the near-bankrupt carrier flying.

* BANCA CARIGE

Italy’s economy ministry, which has the oversight on banking foundations, has aked the lender’s top shareholder Fondazione Carige to clarify some past deals, several newspapers reported.

MONCLER

Luxury down jacket maker Moncler said on Monday it had filed a request with the Italian stock market to list its shares in Milan.

SARAS

The refiner holds an ordinary and extraordinary shareholders’ meeting (0900 GMT).

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

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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