Italy - Factors to watch on Sept 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 (*).

EURO CRISIS

Germany's Constitutional Court is expected to give its approval on Wednesday to the euro zone's new bailout fund while insisting on guarantees to safeguard German parliamentary sovereignty and limit Berlin's financial exposure. The ruling is expected at 0800 GMT.

Spain is considering obtaining help from the European Central Bank's bond-buying programme but is not planning a full sovereign bailout, Prime Minister Mariano Rajoy was quoted as saying on Wednesday in Finnish newspapers.

ENEL

Italy's biggest utility said on Tuesday it had approved the issue of one or more bonds for up to 5 billion euros by December 31, 2013 to extend the average maturity of its debt.

UNICREDIT The Italian bank UniCredit said on Tuesday it launched an auction to buy back 1 billion euros of its asset backed securities as part of its "strategic goal to optimise its balance sheet."

* BANCA MONTE DEI PASCHI DI SIENA

The new shares to be issued to repay the state for underwriting special bonds should the bank fail to post a profit this year are expected to be issued at 0.80 euros each, the Wall Street Journal said citing calculations confirmed by Monte Paschi.

The state would get a stake of about 3.5 percent compared to as much as 13 percent if the shares were valued at market prices, it said, adding the bank's CEO said it was a correct scenario.

* FONDIARIA SAI, UNIPOL, PREMAFIN

Axa, Allianz, Zurich Insurance Group and Cattolica are among those who are interested in buying assets Unipol will have to sell as a condition of its merging with Fondiaria-SAI, Il Sole 24 Ore said. Others include private equity firms Clessidra, Permira and Apax, it said.

The merger timetable and the aim of starting operations on Jan. 1 look hard to achieve, Il Messaggero said.

* LOTTOMATICA

The gaming company said on Wednesday a ruling by a neutral third party has decided Northstar, a consortium in which Lottomatica's unit GTECH holds 80 percent, is entitled to downward adjustments to net income targets of $55.6 million for 2012 and $20.2 million for 2013. The revision is due to measures taken by the state of Illinois impacting the assumptions on which Northstar based its business plan.

* ENEL GREEN POWER

The CEO Francesco Starace told MF that the 600 million euros of investments in solar power foreseen by its business plan will be spent in countries like Brazil, Chile and Mexico. There is also interest for U.S., South Africa, Marocco, Romania and Turkey.

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:...............................