May 30, 2014 / 6:52 AM / 3 years ago

Italy - Factors to watch on May 30

The following factors could affect Italian markets on Friday.

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).

ECONOMY

Bank of Italy holds annual meeting; Governor Ignazio Visco presents annual report (0830 GMT).

ISTAT, April producer prices data (0800 GMT); May flash CPI and HICP data (0900 GMT).

Reuters releases May asset allocation poll (1100 GMT).

COMPANIES

BANKS

Moody's said late on Thursday it had changed the outlooks to negative on 82 long-term European bank ratings, following the adoption of the Bank Recovery and Resolution Directive and the Single Resolution Mechanism regulation in the EU.

The negative outlooks reflect Moody's view that, with the legislation underlying the new resolution framework now in place and the explicit inclusion of burden-sharing with unsecured creditors as a means of reducing the public cost of bank resolutions, the balance of risk for banks' senior unsecured creditors has shifted to the downside.

Among Italian banks affected by the outlook cut is UniCredit , the lender said in a statement on Friday. * According to Corriere della Sera, other Italian banks included in the outlook cut are Banco Popolare, Iccrea BancaImpresa and Banca Italease. The outlook for Intesa Sanpaolo has been confirmed at 'stable', the paper added. * The Bank of Italy has called a technical meeting for June 5 with the 15 Italian banks subject to a European Central Bank health check, Il Messaggero said on Friday.

FINMECCANICA

Indian businessman Ratan Tata said on Thursday that his group remains committed to its partnership with AgustaWestland in spite of a corruption scandal that has engulfed the helicopter business of Italian group Finmeccanica.

Canada signaled on Thursday it is likely to make a decision soon on whether to replace its aging CF-18 fighter jets with F-35 stealth fighters from Lockheed Martin Corp or hold an open competition among aircraft makers. The Eurofighter Typhoon, built by BAE Systems Plc, Airbus Group NV and Finmeccanica are among the competitors.

* TELECOM ITALIA

Chief Executive Marco Patuano has gone to South America to finalise the sale of its stake in Telecom Argentina, La Repubblica said in an unsourced report. He also held informal talks with the managers of GVT, the Brazilian subsidiary of French media group Vivendi, the paper added.

The current board of Telecom Italia is not independent but controlled by the Telco vehicle whose main shareholder is Spain's Telefonica, Telecom Italia dissident shareholder Marco Fossati said in an interview with CNBC carried by MF daily. He said Telecom Italia's Brazilian unit should be merged with GVT, controlled by Vivendi.

RISANAMENTO

The real estate group said on Thursday a mandatory convertible bond worth 254.8 million euros issued in June 2011 had been fully and automatically converted into new Risanamento shares ahead of maturity.

ITALCEMENTI

Last day of trading of saving shares.

Board meetings on FY results: FINTEL ENERGIA GROUP, METHORIOS.

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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