December 12, 2016 / 5:02 AM / 10 months ago

Italy - Factors to watch on Dec. 12

The following factors could affect Italian markets on Monday.

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 .

MONDAY DECEMBER 12

POLITICS

Italian President Sergio Mattarella asked Foreign Minister Paolo Gentiloni on Sunday to try to form a new government, giving him a mandate to lead Italy out of a political crisis caused by the resignation of Matteo Renzi.

ECONOMY

ISTAT releases January-September Italian regional export data (1000 GMT).

DEBT

Treasury sells 4.75 billion euros 12-month BOT bills. Subscriptions close at 0900 GMT.

COMPANIES

BANKS,

An emergency decree to support Italian banks, including the troubled Banca Monte dei Paschi di Siena, is “essentially” ready to go and can be passed at any time if it is needed, government sources said on Friday.

Moody’s has changed the outlook to negative from stable and affirmed the ratings of seven financial institutions, including Intesa Sanpaolo, Credito Emiliano and Cassa Depositi e Prestiti.

MONTE DEI PASCHI (*) Italy is ready to pump capital into Monte dei Paschi di Siena if the ailing bank fails to raise from investors the money it needs to remain in business, a Treasury source said on Monday.

The bank can choose autonomously to re-open its swap offer for retail investors leaving clients free to adhere, IL Sole 24 Ore reported on Sunday. In this case, market regulator Consob would only carry out ex-post checks on the offer.

Italy’s third biggest lender Monte dei Paschi di Siena said on Sunday it would press ahead with a last-ditch plan to raise 5 billion euros on the market by year-end after the European Central Bank refused to give it more time to recapitalise.

The European Commission has approved a state rescue for Monte dei Paschi, La Repubblica reported on Sunday without citing sources, adding the government could put in 5 billion euros at any time under a decree that will pass after Wednesday.

A Commission spokeswoman could not confirm La Repubblica’s story, but said the Commission is “ready to support the Italian authorities design any solution, if needed, in full compliance with EU rules”. She added Commission Vice President Valdis Dombrovskis “is in constructive contact with the Italian authorities”.

ECB policymaker Jens Weidmann has said state involvement in the rescue of Italian banks can’t be ruled out, piling further pressure on Rome to bail out Monte dei Paschi.

Monte Paschi said late on Friday it had not yet received a response from the ECB to its request for more time to execute the 5-billion-euro private capital raising plan.

The ECB has rejected the request for more time to raise capital, a source said on Friday, a decision that piles pressure on the Rome government to bail out the lender.

UNICREDIT,, (*) The capital increase the bank is set to announce on Tuesday could total as much as 20 billion euros, CorrierEconomia said.

(*) Italy’s UniCredit expects to boost its best-quality capital ratio by around 78 basis points after agreeing to sell its asset manager arm Pioneer Investments to France’s Amundi for 3.55 billion euros ($3.75 billion).

The Amundi deal over Pioneer may include the option of UniCredit re-investing in Pioneer in future via a 10-20 percent stake, Il Messaggero said on Sunday.

The reference price of the secured equity-linked certificates in Bank Pekao shares has been set at 27.0294 euros, the bank said on Friday.

(*) ENI

The Italian oil and gas group agreed to sell a 30 percent stake in Egypt’s offshore Shorouk concession to Russia’s Rosneft for $1.125 billion, cutting its stake in the Zohr giant gas field to 60 percent.

(*) UBI BANCA

The lender will likely hold internal meeting on Dec. 15 to discuss the acquisition of three small banks rescued by Italy one year ago, Il Messaggero reported on Monday.

(*) SAFILO

The eyeware group said on Monday it renewed license agreement with Christian Dior for the design, manufacturing and worldwide distribution of the Dior and Dior Homme collections of sunglasses and optical frames.

The group also said licensing agreement for Celine Eyewear would run to closure on December 31, 2017.

ATLANTIA

Among potential interested buyers for a 15 percent stake in Atlantia’s Autostrade per l‘Italia (ASPI) business Il Sole 24 Ore listed Germany’s Allianz, pension funds from Ontario, Canada and and Quebec’s Caisse de depot et placement, sovereign funds including Kuwait Investment Authority and Adia, and China’s Gingko Tree.

INTESA SANPAOLO

Italy’s Intesa and a syndicate of banks are to provide Qatar and commodities trader Glencore GLEN.L with 7 billion euros of financing to buy a 19.5 percent stake in Rosneft ROSN.MM, a Rosneft source said on Sunday.

TELECOM ITALIA

Asked about any impact from the political crisis on the phone group, Chairman Giuseppe Recchi said the implementation of Telecom Italia’s business plan was proceeding “very fast, very well” and the company would keep on doing its job, according to Sunday’s Il Sole 24 Ore.

France’s Vivendi denied on Saturday it was discussing a cross-ownership deal with telecoms operator Orange ORAN.PA, insisting that any potential talks between the two groups were focused on its pay-TV unit Canal Plus. A Vivendi spokesman added that potential cross-ownership deals between Orange, Vivendi and Telecom Italia, in which Vivendi holds a 24 percent stake, were not on the agenda.

LEONARDO,

Turboprop maker ATR, a joint venture between Airbus Group and Leonardo said it had received U.S. approvals needed to finalise the sale of up to 40 aircraft to Iran.

ITALIAN INSURERS

Moody’s has changed the outlook of UnipolSai to negative from stable following a similar move by the rating agency on Italy’s sovereign rating. At the same time Moody affirmed Generali’s rating with a stable outlook.

EXOR

The merger between EXOR and EXOR NV, a holding company based in the Netherlands, will be effective as of Dec. 11, the company said on Friday.

ASSICURAZIONI GENERALI

Board meeting.

DIGITAL BROS

Trade ex-dividend of 0.13 euro per share.

MONDO TV

Trade ex-dividend of allocation of free shares of controlled Mondo TV Iberoamerica and 0.02 euro per share as extraordinary dividend.

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 = 0.9483 euros)

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