June 5, 2012 / 4:02 AM / 5 years ago

Italy - Factors to watch on June 5

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 (*).

EURO ZONE CRISIS

Finance ministers and central bank governors of the Group of Seven industrialized nations will hold a conference call on Tuesday, a Canadian government spokeswoman said on Monday, amid increased concern about the European debt crisis.

ITALIAN GOVERNMENT BONDS

The offering of a new inflation-linked bond Italy is targeting at small investors got off to a slow start on its first day on Monday, with orders totalling 218.3 million euros at market close.

The offer of the new retail 4-year inflation-linked BTP Italia bond continues on Tuesday. It will end on June 7.

* BANCA MONTE DEI PASCHI DI SIENA

Deutsche Bank and BNL-BNP Paribas could be interested in 150-200 Antonveneta branches that MPS is looking to sell, Il Sole 24 Ore said on Tuesday.

At a board meeting on Tuesday MPS will discuss the asset sales the bank is counting on to plug a capital shortfall under the new EBA rules.

* GENERALI

The insurer has asked Mediobanca and JP Morgan to assess possible asset sales, Il Sole 24 Ore reported, adding that the high profitability of its Swiss-based private bank BSI or of the U.S. unit Generali USA made the decision to sell one of the two assets difficult.

FONDIARIA SAI, UNIPOL, PREMAFIN

Unipol said on Monday the share swap ratio proposed by troubled peer Fondiaria-SAI as part of plans for the two groups to merge and create Italy’s No. 2 insurance company can be changed. * Unipol will discuss the proposal at a board meeting on Tuesday. * Italy’s antitrust authority has requested that the new Unipol-Fonsai entity sell within a reasonable timeframe the Mediobanca stake currently held by the Fonsai group and for rights to be frozen until the sale, Il Sole 24 Ore reported.

SNAM, ENI

Italy’s gas transport group Snam said on Monday it had approved a bond issue programme of up to 8 billion euros as it moves ahead with plans to separate from oil and gas group Eni.

EDISON

Italy’s second-biggest utility Edison has no need of a capital increase since its French owner EDF can provide it with any funding it needs, Edison chairman Henri Proglio said on Monday.

For Italian market data and news, click on codes in brackets:

20 biggest gainers (in percentage)............

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FTSE IT allshare index

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Stories on Italy...... IT-LEN

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