Reuters logo
Italy - Factors to watch on Feb. 13
February 13, 2017 / 5:02 AM / 10 months ago

Italy - Factors to watch on Feb. 13

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 European Commission has asked Italy to approve by Feb. 22 part of a plan to cut its 2017 budget deficit by 3.4 billion euros to avoid the risk of an infraction procedure, La Repubblica reported on Saturday.

POLITICS

Former prime minister Matteo Renzi looks set to trigger a leadership contest at a meeting of his ruling Democratic Party (PD) on Monday which could delay the early election he has been pushing for since he was toppled as premier last year.

DEBT

Italy offers between 6.25 billion and 8.5 billion euros in 3-, 7- and 30-year bonds on Monday as well as two off-the-run bonds maturing in 2020 and 2039.

COMPANIES

BANCA MONTE DEI PASCHI DI SIENA

Monte dei Paschi might choose to shift its 27.7 billion euros-worth of bad loans buy selling multiple tranches directly to buyers, Il Sole 24 Ore said on Saturday, without citing sources. The paper said such sales would follow the same model already used by fellow bank UniCredit.

Otherwise, Monte dei Paschi might choose to sell the debt using a government guarantee scheme, the paper said, adding a decision should be made “within days”.

(*) The Italian government, the European Commission and the European Central Bank will take between two to three months to agree on the bank’s new business plan, la Repubblica Affari & Finanza said on Monday, adding a sale of the bank’s bad loans would take at least two years.

(*) Investors specialising in bad loans are looking at the possibility to buy the bank’s bad debts, CorrierEconomia reported on Monday citing Italfondiario, Credito Fondiario, Apollo and Fortress as possible bidders. CorrierEconomia said the bank may decide to hold a tender to sell its bad loans.

ENI

The oil major lifted the force majeure on Nigeria’s Brass River crude oil exports that was in place since late May, a spokesman said on Friday.

GENERALI, INTESA SANPAOLO

Generali is planning to raise its cost-cutting target to try to defend itself against a potential bid from Intesa Sanpaolo, the Financial Times reported on Sunday, citing people familiar with the insurer’s thinking.

One person who has advised on the issue said the final target was likely to be 6 or 7 percent, the paper said.

MEDIASET

The Berlusconi family, which controls Mediaset, considers the broadcaster “absolutely not for sale”, former premier Silvio Berlusconi told la Repubblica in an interview published on Sunday.

“The Berlusconi family’s destiny and that of Mediaset are indissolubly linked,” Berlusconi said.

Asked whether a deal with French media group Vivendi was possible, Berlusconi said, “We have never wanted to make war with anyone. But everyone needs to keep their side of the bargain, and stick to the rules and the law. On this basis, but only on this basis, deals are always welcome.”

BANCA CARIGE

The lender said on Friday it lost 297 million euros last year, hit by loan losses.

The bank may issue convertible bonds or sell new rights to existing shareholders rather than taking state funds to fill a possible capital shortfall, Il Sole 24 Ore reported on Sunday, citing anonymous financial sources. Insurer Generali might be willing to convert some of its holding of Carige’s subordinated debt, the paper said.

(*) La Repubblica Affari&Finanza reiterated the Carige would sell a 1 billion euro bad loan portfolio it is in the process of securitising at 30 percent of its gross book value.

(*) ITALIAN BANKS, BANCA POPOLARE DI VICENZA

The regional bank is expected to book a 1.8 billion euro loss in 2016, CorrierEconomia reported on Monday, adding the European Central Bank has started a new inspection at the bank.

BANCO BPM

The newly merged bank posted on Friday a 1.6 billion euro loss for 2016, bogged down by 2.96 billion euros in loan writedowns.

FIAT CHRYSLER

Fiat Chrysler Chief Executive Sergio Marchionne said a second Maserati model will go into production at its Mirafiori and Grugliasco plants in Turin between late 2018 and early 2019, several papers reported on Sunday.

(*) TELECOM ITALIA

The Italian phone company will launch a low-cost telecoms business next summer under the “Kena” brand, la Repubblica Affari & Finanza reported on Monday.

(*) FALCK RENEWABLES

CEO Toni Volpi told Monday’s La Stampa in an interview the group would publish “satisfactory results” in March despite having been through a tough year as far as revenues are concerned.

VENETO BANCA IPO-VENE.MI, BANCA POPOLARE DI VICENZA (IPO-BPVS.MI)

Veneto Banca and Banca Popolare di Vicenza have started informal talks to see if anyone is interested in buying their combined 40 percent stake in asset manager Arca, Il Sole 24 Ore said in an unsourced report on Sunday.

BIM

Veneto Banca said on Friday its board is considering the possibility of taking BIM unit out of the group’s perimeter.

CEMENTIR

Board meeting on preliminary FY results, followed by conference call(1630 GMT).

DIGITAL MAGICS

Starts capital increase; ends on March 3.

EDISON

Board meeting on FY results.

IMVEST

Starts capital increase; ends on March 2.

PRADA

Board meeting on 2016 preliminary sales.

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:...............................

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below