October 23, 2013 / 4:03 AM / in 4 years

Italy - Factors to watch on October 23

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 (*).

ECONOMY

National statistics institute ISTAT releases September extra EU foreign trade data (0800 GMT).

Assogestioni releases September fund flow data.

DEBT

Treasury announces sale of CTZ, zero coupon bonds, and BTPei, euro zone inflation-linked bonds, with relative amounts to be auctioned on Oct. 28.

COMPANIES * UNIPOL-SAI

The Italian insurer will reap a capital gain of 44.6 million euros from selling its stake in Mediobanca, it said in a document late on Tuesday, adding the sale would have a positive financial impact of 177.7 million euros.

Unipol-SAI also said it had given access to data to a number of parties interested in buying insurance assets it must sell for antitrust reasons.

ENI

The energy group is talking with German utility EnBW over the future of their gas grid joint venture in Germany, the company said, as speculation rises the oil and gas group could sell its stake.

GENERALI

The insurer is looking at alternatives to the sale of its Swiss private banking business BSI, including an initial public offering, people familiar with the matter said on Tuesday.

TELECOM ITALIA

The phone company is set to shelve a plan to separate its domestic fixed-line phone network while key shareholder Telefonica decides whether or not to increase its voting stake, people familiar with the matter said on Tuesday.

CEO Marco Patuano travelled to Brazil on Tuesday to work on the local unit TIM Partecipacoes’ business plan and budget, Il Messaggero reported without citing sources.

Shareholder Marco Fossati has travelled to London and New York as he seeks gather support among shareholders for its request to unseat board members appointed by key shareholder Telco, Corriere della Sera reported without citing sources. * Fossati’s plan is to present shareholders with a new business project and a list of prestigious candidates for the Telecom board when they meet to vote on his request to remove board members appointed by Telco, Il Sole 24 Ore reported.

Italian state-holding CDP has looked at the possibility of issuing a bond to fund its purchase of a stake in Telecom Italia’s fixed-line network, Corriere said.

* BANCA MONTE DEI PASCHI DI SIENA

The size of the stake in the bank that the Monte dei Paschi foundation could soon try to sell on the market is of 15 percent, MF reported without citing sources.

ALITALIA

The airline is in preliminary talks with China’s Hainan Airlines, Corriere della Sera reported citing sources close to the matter.

In a letter dated Oct. 18 Air France-KLM has asked Alitalia to create a joint working-team to draft a new business plan for the Italian airline and conduct a due diligence in order to restructure its debts, Il Messaggero reported citing the document.

STMICROELECTRONICS

The chip-maker posted a quarterly net loss after demand weakened from Asian smartphone and electronics makers, as Europe’s largest maker of semiconductors grappled with strong competition in the mobile market.

GRUPPO EDITORIAL L‘ESPRESSO

The publisher holds a board meeting on third-quarter 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

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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