Italy - Factors to watch on December 11

Tue Dec 11, 2012 7:45am GMT

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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 (*).

ITALIAN POLITICS

German Bund futures opened little changed on Tuesday with focus for the session likely to fall on Italian politics after technocrat Prime Minister Mario Monti's weekend decision to resign early unsettled investors.

European partners urged the next Italian government on Monday to stick to Prime Minister Mario Monti's reform agenda, after his decision to resign early and Silvio Berlusconi's return to frontline politics rattled financial markets.

Centre-right leader Silvio Berlusconi reacted angrily on Monday to negative comments from foreign politicians and media about his decision to run as a candidate to lead Italy for the fifth time, calling it an offensive interference in domestic affairs.

FINMECCANICA

The planned sale of Ansaldo Energia has been pushed back to the first months of 2013 from the end of the year to give more time for bids, according to Il Sole 24 Ore on Tuesday.

Italy's state-backed fund Fondo Strategico Italiano and a group Italian investors are considering raising their offer for a stake in the Finmeccanica unit, Il Messaggero reported on Tuesday without citing its sources.

The group of investors is considering investing 160 million euros for around 26.7 percent in Ansaldo Energia, with an option to buy another 11 percent stake at the end of 2013, Il Messaggero said.

CREDITO VALTELLINESE

Moody's reviewed Credito Valtellinese's BAA3-P-3 ratings for downgrade citing a rapid deteriorating trend of the bank's asset quality and the bank's low profitability against the background of the current downturn in Italy.

IMPREGILO

Italy's biggest builder said on Monday the Brazilian competition regulator had approved the sale of a 19 percent stake in Brazil-based EcoRodovias.

AUTOGRILL

The world's biggest airport retailer outbid rivals to run duty free shops at 26 Spanish airports owned by public operator Aena, including key hubs such as Madrid and tourist destinations Malaga and Ibiza.

Autogrill expects revenues for over 7 billion euros ($9 billion) in Spain after outbidding rivals to run duty-free shops at 26 Spanish airports over the 2013-2020 period.

* EXOR, FIAT INDUSTRIAL

Exor said on Tuesday it had signed an accord to vote in favour of the merger between CNH Global and Fiat Industrial, of which it owns a stake of 30 percent.

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