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Italy - Factors to watch on Dec. 21
December 21, 2016 / 5:02 AM / 9 months ago

Italy - Factors to watch on Dec. 21

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 (*).

For a complete list of diary events in Italy please click on .

ECONOMY

ISTAT releases November wage inflation data (0900 GMT).

COMPANIES

Bourse After Hours market closed.

ITALIAN BANKS

Optimistic signals from two of the world’s most influential central banks and a rescue plan for Italy’s ailing lenders halted sharp falls in euro zone government bond yields on Tuesday.

BANCA MONTE DEI PASCHI DI SIENA

The Italian lender has raised around 500 million euros as of Tuesday in a voluntary debt-to-equity offer that is a key part of a last-ditch attempt to raise 5 billion euros ($5.2 billion) and avert state intervention, a source close to the matter said.

(*) The ailing bank expects to burn through around 11 billion euros ($11.5 billion) of liquidity more quickly than previously forecast, an updated document on the bank’s website showed on Wednesday.

(*) A planned investment by Italian banking industry rescue fund Atlante to buy bad loans off Monte dei Paschi will go ahead only if the state takes part in the troubled bank’s cash call for no more than 1 billion euros and without triggering state aid rules.

Debt-to-equity conversion offer and share offer reserved to shareholders and retail investors end.

The Board is expected to meet in Siena.

MEDIASET

The Italian broadcaster said on Tuesday it risked being paralysed by Vivendi’s aggressive stake-building, as the French media group has accumulated a quarter of the Italian broadcaster’s shares in just over a week.

On Tuesday the French giant, led by Vincent Bollore, said it owned 25.75 percent of Mediaset’s share capital and 26.77 percent of the voting rights.

Italian Foreign Minister Angelino Alfano said on Tuesday that he was “very concerned” by Vivendi’s moves to increase its stake in the Italian broadcaster and called for respect of market rules.

More than 10 percent of the group’s shares were traded on the market on Tuesday, according to Reuters data

(*) Silvio Berlusconi told his close aides that Vivendi has cornered his family and that the government needs to do something for the group, la Repubblica reported. The former prime minsiter is ready to grant his support to the newly formed government in exchange for help from Rome against Vivendi, several dailies reported.

(*) Silvio Berlusconi said on Tuesday that many of the Italian broadcaster’s shareholders want to defend the Italian identity of the group and for this reason he is “serene”, several dailies reported.

UNICREDIT

CEO Jean Pierre Mustier told la Repubblica in an interview the group had neither acquisitions or further disposals in sight. He also said UniCredit planned to keep its stake in Mediobanca and would like the bank to increase its return.

Credit rating agency S&P affirmed on the lender’s ratings at “BBB-/A-3”, outlook stable, after its strategic plan presentation.

S&P said in a statement that if the plan is executed it will have “a positive impact on UniCredit’s financial profile though this is unlikely to be sufficient to rate the bank above the BBB- long-term sovereign credit rating on Italy.”

ENEL

The utility said ultrafast broadband company OpEn Fiber completed the acquisition of broadband company Metroweb from infrastructure fund F2i for about 714 million euros and that talks with F2i to exercise an option to buy back a stake in OpEn Fiber continue.

ACEA

President Catia Tomasetti and CEO Alberto Irace present new website and ‘MyAcea’ (1100 GMT).

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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