January 23, 2019 / 5:02 AM / in a year

Italy - Factors to watch on Jan. 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 (*).

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

SAIPEM

Milan prosecutors have launched a probe into alleged market irregularities involving Saipem and some of its managers including its CEO, the oil service group said on Tuesday.

BANCA CARIGE

The bank said it had been granted state guarantees on 2 bln euro bond issues.

The bond issue may not be imminent, Il Sole 24Ore reported, saying the bank has not accomplished necessary steps with market regulator CONSOB. Such steps however might not be required if Carige decides to issue the bonds through a private placement, the newspaper added.

Bank of Italy representatives informally speak before Senate and Chamber of Deputies Finance committees on Banca Carige (1300 GMT).

INTESA SANPAOLO

Nationalising a bank “is a possible option if there is a path out” for the government, Intesa Sanpaolo’s Chief Executive Carlo Messina said in an interview to daily La Stampa, when asked about the possibility that Italy nationalises troubled lenders such as Carige. Messina also said he thinks it is “very difficult” that Italy’s BTP bond to Bund spread may rise much above current levels.

Possible candidates for the bank’s chairman position include Domenico Siniscalco and Vittorio Grilli, two former Italy’s finance ministers, as well as Intesa’s current Deputy Chairman Paolo Andrea Colombo, daily La Repubblica said.

TELECOM ITALIA, VIVENDI

State lender CDP, which holds a 4.9 percent stake in the Italian telecoms group, is avoiding taking a position in the ongoing row between the two main shareholders, Vivendi and Elliott, over the future of Telecom Italia’s landline network, Il Messaggero reported. CDP will wait at least until the new industrial plan, due on Feb. 21, before deciding which solution it would support, the report added.

Chief Executive Luigi Gubitosi is seeking an adviser to study a plan to merge Telecom Italia’s network with smaller broadband rival Open Fiber, or to buy it, Il Sole 24Ore said.

ATLANTIA, AUTOGRILL

The Benetton family is considering future strategies for Edizione, the parent company of Atlantia and Autogrill, Il Sole 24 Ore said. Possible alternatives to the current stand-alone position are a listing of the holding company or the arrival of a new significant financial investor, the report added.

GENERALI

Moody’s assigned Baa3(hyb) rating to Assicurazioni Generali’s 500 million euro senior dated subordinated Tier 2 notes.

DAMIANI

Leading Jewels has underwritten an agreement to buy a stake of 5.33 percent of Damiani held by Style Capital SGR at a price of 0.855 euros per share.

TOD’S

Releases preliminary FY results (sales).

DIARY

Rome, Justice Minister Alfondo Bonafede reports on administration of justice before Chamber of Deputies (0830 GMT) and Senate (1500 GMT).

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:............................... (Reporting By Viviana Venturi)

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