June 8, 2017 / 4:01 AM / 5 months ago

Italy - Factors to watch on June 8

The following factors could affect Italian markets on Thursday.

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

Bank of Italy publishes May data on Target2 liabilities and European Central Bank funding to Italian banks.

DEBT

Treasury announces sale of BTP bonds, with relative amounts to be auctioned on June 13.

The Treasury said on Wednesday it would offer 6.5 billion euros in 12-month BOT bills at auction on Monday.

COMPANIES

VENETO BANKS

European Union regulators believe their rescue of Spanish lender Banco Popular has strengthened the case for intervening in Italy’s two weakest lenders, but expect it will be harder to use the same approach, a senior EU official said on Wednesday.

INTESA SANPAOLO, UNICREDIT (*) Intesa Sanpaolo is willing to put in fresh capital to help prop up Italy’s troubled Veneto banks before they can be bailed out by the state, but only if other domestic lenders pitch in, newspaper La Repubblica said.

The newspaper added that Italian Economy Minister Pier Carlo Padoan has asked Intesa and UniCredit to take on one of the Veneto banks each, following the example of Santander’s takeover of Spanish lender Banco Popular.

BANCA CARIGE

The bank said on Wednesday director Paola Girdinio had stepped down ahead of a board meeting on Friday called to discuss the top shareholder’s request that CEO Guido Bastianini be removed. (*) To patch up a rift between top shareholder Vittorio Malacalza and CEO Guido Bastianini, board members are assessing a proposal to set up an executive committee charged with overseeing the planned share issue and bad loan spin-off, Il Messaggero reported. Both Malacalza and Bastianini would be excluded from the committee which would report to the board.

(*) BANCO BPM

The ECB has sent a letter to Banco BPM asking the lender for action by year-end to improve risks, credit and audit practices, MF said, adding the missive did not include any requests for additional capital.

IL SOLE 24 ORE

The publishing group said on Wednesday it had signed a pre-underwriting agreement with Intesa Sanpaolo’s Banca IMI unit for up to 20 million euros.

RCS MEDIAGROUP

CEO Urbano Cairo said on Wednesday the publisher was considering issuing bonds to lengthen the average duration of its debt and reduce its exposure to banking creditors, but added no decision had been taken yet.

AZIMUT (*) Fitch has affirmed Azimut’s rating at ‘BBB’, with a stable outlook.

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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