January 3, 2017 / 5:00 AM / 9 months ago

Italy - Factors to watch on Jan. 3

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 (*).

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

POLITICS

Italy’s anti-establishment 5-Star Movement said on Monday it would not automatically require its politicians to step down if they come under legal investigation, prompting critics to accuse it of hypocrisy.

ECONOMY

Italy posted a state sector budget surplus of 8.9 billion euros in December, 5.3 billion euros higher than the surplus posted in Dec. 2015, the Treasury said on Monday.

COMPANIES

Bourse After Hours market closed.

FIAT CHRYSLER AUTOMOBILES

The carmaker’s sales in Italy rose 14.1 percent in December, while industry-wide deliveries in the same month increased 13.06 percent to 124,438 vehicles, the transport ministry said.

For all of 2016, FCA’s sales in Italy were up 18.4 percent, above a 15.8 percent rise for the industry.

UBI

The sale of three small Italian banks, rescued in 2015, to bigger rival UBI has been delayed by at least a week at the request of the European Commission, three sources close to the matter said.

(*) INTESA SANPAOLO

Chairman Gian Maria Gros-Pietro approves of the state’s intervention in banks in difficulty, but stresses that once the government is in, it should “take control, make strong choices and exit as soon as possible”, according to an interview with Il Sole 24 Ore. Gros-Pietero said Intesa is in the last year of its business plan, will soon be preparing another one and is moving towards a new business model. The manager added that excessive capital requirements from European regulators risk limiting what banks can do in terms of lending to consumers.

(*) BANCA POPOLARE DI VICENZA, VENETO BANCA

The boards of the two lenders will decide on Jan. 9 on proposals for how to reimburse investors who have seen their savings wiped out, il Sole 24 Ore and Corriere della Sera said. The banks are looking at reimbursing investors between 15-20 percent of the shares’ value at the time of acquisition, Corriere added.

(*) FINCANTIERI

A Korean court overseeing the sale of shipping group STX France could decide on the deal on Tuesday, Il Sole 24 Ore said. Fincantieri last week emerged as the only bidder.

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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