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Italy - Factors to watch on April 1
April 1, 2014 / 4:01 AM / 3 years ago

Italy - Factors to watch on April 1

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

Italian Prime Minister Matteo Renzi tied his political future on Monday to a reform package aimed at creating more stable government by stripping the upper house of parliament of key functions and concentrating power in the lower chamber.

An appeals court on Monday acquitted former Italian prime minister Silvio Berlusconi due to the statute of limitations in a case related to a 2005 attempt by insurer Unipol to take over bank Banca Nazionale del Lavoro.

ECONOMY

Markit releases March PMI manufacturing (0743 GMT).

ISTAT releases February unemployment (0800 GMT).

Transport Ministry releases March car sales (1600 GMT).

March state sector borrowing requirement data.

COMPANIES

ENI

The chief executive of Italy’s biggest company Eni was sentenced to three years in prison on Monday over inadequate environmental standards at the Porto Tolle power plant at a time when Scaroni was CEO at Italian utility Enel.

Eni has hired Bank of America Merrill Lynch to advise on the sale of a stake of about 15 percent in its Mozambique gas field which could raise up to $5 billion, several sources familiar with the matter said.

Eni said on Monday it had signed the final agreement with Statoil STL.OL over the renegotiation of its long-term gas contracts with the Norwegian group.

FIAT

Fiat Chrysler Automobiles will be able to make more than 6 million cars a year by 2018 as its strategy focused on relaunching the Alfa Romeo and Maserati marques bears fruit, its chief executive said on Monday.

TELECOM ITALIA

Telecom Italia sold its Milan headquarters to Fondo Inarcassa RE for 75 million euros in a sale-and-leaseback deal with the Italian property fund.

Proxy advisor Glass Lewis has recommended that Telecom Italia TLIT.MI investors vote in favour of Giuseppe Recchi as chairman of the board when shareholders meet on April 16, it said in a document seen by Reuters. * SORGENIA

Talks between Italy’s Sorgenia and its creditor banks over debt restructuring at the troubled energy company are continuing, with the banks working on a possible alternative deal, Sorgenia’s main owner CIR said on Tuesday.

* GTECH

The Italian gaming company is readying an offer to buy the licence to operate Turkey’s national lottery, daily Il Sole 24 Ore reported.

* BANCA CARIGE

Italy’s treasury has given the green light to the bank’s top shareholder to sell its 6 percent stake in the lender, daily Il Sole 24 Ore reported.

* VENETO BANCA

Italy’s central bank has sent a letter to the mid-tier lender reiterating it should merge with a stronger rival, daily Il Messaggero reported. The Bank of Italy also asked for a change in the bank’s management.

* D‘AMICO INTERNATIONAL SHIPPING

U.S. UK and Norwegian funds, together with French insurers, were the buyers of a 10 percent stake in the shipping company that was sold by the main shareholder some weeks ago, d‘Amico’s CEO told Il Sole 24 Ore.

PARMALAT

Italian food group Parmalat said on Monday that it has bought Australian dairy firm Harvey Fresh in a 79 million euro ($108.9 million) deal, strengthening its position in Australia and Asia.

RISANAMENTO

Italian property firm Risanamento said on Monday a Milan judge had rejected a legal challenge from a group of companies led by its former owner Luigi Zuino aimed at blocking a vital sale of prized French assets.

BANCA ETRURIA

Banca Etruria, a small Italian lender which is seeking a merger with a stronger peer following advice from the Bank of Italy, said on Monday it posted a 70.3 million euro loss in 2013 due to loan and goodwill writedowns.

SEAT PAGINE GIALLE

Board meeting on FY results.

For a diary for Tuesday see:

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 = 0.7256 Euros)

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