October 7, 2016 / 4:03 AM / a year ago

Italy - Factors to watch on Oct. 7

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 (*).

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

(*) POLITICS

The European Union is ready to consider forms of budget flexibility for member states that are clear, limited and clearly explained, EU Economic Affairs Commissioner Pierre Moscovici said at the Atlantic Council in Washington in comments widely covered by Italian papers. The Commissioner said Brussels was ready to consider costs incurred for refugees and the earthquake, the papers said.

ECONOMY

Rating agency Moody’s reviews sovereign debt rating on Italy.

Bank of Italy releases September data on European Central Bank funding to Italian banks.

DEBT

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on Oct. 12.

COMPANIES

BANCA GENERALI, FINECO BANK

Banca Generali has no acquisition plans on the table, the Italian asset manager’s Managing Director said on Friday amid speculation the group could be interested in buying online broker FinecoBank.

FinecoBank said on Thursday total net inflows in September were at 224 million euros ($250.3 million).

UBI BANCA, ITALIAN RESCUED BANKS

UBI Banca is stepping up its efforts to buy three of the four banks rescued last year, negotiating a green light to the operation with the ECB, La Stampa said. If the ECB gives its blessing, UBI could make an announcement on Banca Etruria, Banca Marche and CariChieti next week, it said.

Bank rescue fund Atlante could play a role in the acquisition of four Italian banks rescued last year alongside of private equity fund Apollo, providing UBI Banca’s attempts fail to materialise, Il Sole 24 Ore said.

(*) BANCA MONTE DEI PASCHI DI SIENA

During a meeting on Thursday, the board reiterated its plan to carry out a planned capital increase before Christmas, several papers said.

Anchor investors could inject up to 2 billion euros in Monte dei Paschi, half of that via the planned capital increase and the other through the sale of non-performing loans, Il Messaggero said, adding this was one option the banks involved in the recapitalisation were working on.

ENEL, TERNA

Italy’s competition regulator has opened a probe into utility Enel and smaller power company Sorgenia alleging they overcharged grid operator Terna for services relating to the power dispatching market.

MOLMED

The medical biotechnology company said on Thursday it had signed a “Standby Equity Facility” agreement with Societe Generale. Under the agreement, Societe Generale committed to subscribe a capital increase of the company within 10 percent of the existing share capital.

HERA

Hera said on Thursday its Hera Comm bought 100 percent of Gran Sasso that is involved in free market gas and electricity.

S.S. LAZIO

Supervisory board meeting on FY results.

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

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