January 13, 2017 / 5:00 AM / 10 months ago

Italy - Factors to watch on Jan. 13

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

Italian Prime Minister Paolo Gentiloni is making an excellent recovery after undergoing a heart procedure and is expected to be released from hospital by the end of the week, doctors said on Thursday.

ECONOMY

Ratings agency DBRS reviews its sovereign debt rating on Italy.

The number of countries at risk of having their credit ratings cut has never been higher as the first of the year’s crucial reviews looms on Friday in the shape of European struggler Italy.

Bank of Italy releases November data on public finances, state borrowing and debt.

COMPANIES

FIAT CHRYSLER

The U.S. Environmental Protection Agency on Thursday accused Fiat Chrysler of illegally using hidden software to allow excess diesel emissions to go undetected, the result of a probe that stemmed from regulators’ investigation of rival Volkswagen AG.

Accusations by EPA that Fiat violated emissions laws will not have any impact on the carmaker’s business plan targets, CEO Sergio Marchionne told La Repubblica newspaper on Friday.

The European Commission on Thursday called on Italy to provide proof against Germany’s allegation that Fiat Chrysler used illegal exhaust emissions defeat devices, stepping up pressure on the group amid accusations against it in the U.S.

Italy’s Transport Ministry said on Thursday that the car models that the U.S. Environmental Protection Agency (EPA) says used a software that allowed excess diesel emissions to go undetected are not road tested or sold in Italy.

Fiat Chrysler’s CEO wants to retire in 2019 with the carmaker nicely profitable and flush with cash. A U.S. agency’s charge of emissions cheating, and possible $4 bln-plus fine, could make that roadkill. Appealing to the Trump team’s anti-regulatory zeal may be his only chance.

UNICREDIT

Shareholders in UniCredit approved a record 13 billion euro ($14 billion) share issue on Thursday, needed to allow Italy’s biggest bank to clean up its balance sheet and restructure under new chief executive Jean Pierre Mustier.

(*) BANCA MONTE DEI PASCHI DI SIENA

Euro zone finance ministers will discuss on Jan. 26 the “compatibility” of Italy’s bailout for Monte dei Paschi with European Union rules, an official in the bloc told Reuters on Thursday.

MEDIASET, TELECOM ITALIA, VIVENDI

Vivendi is not a corporate raider and has invested in Telecom Italia and Mediaset for the long term as industrial partner, its CEO Arnaud de Puyfontaine told La Repubblica newspaper on Friday.

GEOX

The company said it had appointed Gregorio Borgo as its new chief executive.

PRYSMIAN

The launch of an equity-linked bond has made the debt structure of Italy’s Prysmian more flexible, making it easier for the cable maker to fund future acquisitions, its chief financial officer said on Thursday.

Prysmian said on Thursday it had successfully issued a 500 million euro ($533 million) equity-linked bond.

L‘ESPRESSO

Italy’s Antitrust Authority on Thursday said it would probe the planned merger of Gruppo Editoriale L‘Espresso with the company that controls Turin’s La Stampa newspaper for possible violations of competition rules.

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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