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Italy - Factors to watch on February 9
February 9, 2015 / 5:01 AM / in 3 years

Italy - Factors to watch on February 9

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 .

ECONOMY

The Italian economy is expected to grow more than previously forecast this year and the next as a result of the European Central Bank’s bond buying programme, Bank of Italy Governor Ignazio Visco said on Saturday.

TREASURY

Treasury announces sale of BTPs bonds with relative amounts to be auctioned on Feb. 12.

COMPANIES

BANKS

State intervention could help Italian banks offload soured loans, the governor of the Bank of Italy said on Saturday as the government considers options to mop up problematic debts and revive bank lending to the economy. * EU Commissioners Pierre Moscovici and Margrethe Vestager and the Commission Deputy President Valdis Dombrovskis did not raise strong objections to a plan aimed at helping Italian banks offload bad loans that Economy Minister Pier Carlo Padoan discussed with them last week, La Stampa said on Monday in an unsourced report.

POPOLARI BANKS

One possible change to the current reform plan to transform Italy’s 10 largest cooperative banks into joint-stock companies entails the introduction of a voting system that grants progressively fewer votes to shareholders as the size of their stake grows, Corriere della Sera reported on Sunday quoting a banker who asked not to be named.

IPOs

Italy’s post office operator must reform its governance, including raising the number of board members to 9 from 5, ahead of an initial public offering to comply with banking regulation due to its Bancoposta banking business, Il Sole 24 Ore said on Sunday.

BANCA CARIGE

The banking foundation that controls the mid-sized bank has asked the Italian treasury for permission to possibly sell its entire 19 percent holding in the mid-sized Italian lender, a financial source told Reuters on Friday.

The Italian mid-tier lender has had no contacts with investors, including businessman Andrea Bonomi, for the possible acquisition of a stake in the bank, its chief executive said on Saturday.

INTESA SANPAOLO, BANCA CARIGE

Italy’s biggest retail bank Intesa Sanpaolo denied press speculation on Saturday that it could take a stake in Genoa-based lender Carige.

SALVATORE FERRAGAMO

The luxury group expects to open 15-20 retail outlets in 2015, slowing the pace as the focus is now on boosting sales per square-meter, Il Sole 24 Ore said on Sunday citing the company. Ferragamo is set to invest 35 million euros to build a logistics hub near Florence to cut delivery times. Russia-related business fell around 30 percent since March but it accounts only for 2-3 percent of the total. * Loro Piana Chairman Antoine Arnault was quoted as saying in CorrierEconomia that France’s LVMH was not looking at possible acquisitions at present, dismissing rumours that the luxury group headed by his father Bernard could be interested in Ferragamo.

MEDIOBANCA

Board meeting on Q1 results (release on Feb. 10).

Changes to the bank’s bylaws will be discussed at Monday’s board meeting, Il Sole 24 Ore reported on Saturday.

CREDITO VALTELLINESE

Private equity firm CVC Capital Partners has submitted an unsolicited offer for Italian payment services bank ICBPI after similar moves by Permira and a consortium formed by Advent and Bain Capital, Il Sole 24 Ore reported on Saturday citing rumours.

The Italian cooperative banks such as Credito Valtellinese that are ICBPI’s shareholders are set to hold a competitive tender to pick the preferred bidder.

BANCA ETRURIA

The small Italian lender, which is seeking a merger with a stronger peer, said on Saturday it had struck a deal with unions that would lead to the closure of 30 branches and 410 full-time equivalent positions being cut through early retirements and other measures such as fewer working days for the staff.

BANCA POPOLARE EMILIA ROMAGNA, BANCA ETRURIA

A new business plan to be presented by the cooperative bank next week creates the conditions for merger activity, its chief executive said on Saturday, adding however the lender was not interested in Banca Etruria.

ENEL, A2A, HERA, IREN

Guido Pier Paolo Bortoni, head of Italy’s energy authority, spoke in Sunday’s Corriere della Sera against the possible scrapping of a regulated energy price system for households.

ENI

Claudio Descalzi, CEO of the oil and gas group, called for the swift creation an energy union in Europe in an interview with Saturday’s Il Sole 24 Ore.b

RCS MEDIAGROUP

The publishing group is set to hold an extraordinary board meeting on Thursday, Il Sole 24 Ore and Il Giornale reported on Sunday.

TERNIENERGIA

Board meeting on 2015-2017 industrial plan; followed by presentation (1000 GMT).

Board meetings on preliminary FY results: BANCA FINNAT , BANCO DI SARDEGNA, FINECOBANK.

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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