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Italy - Factors to watch on Nov. 1
November 1, 2017 / 5:02 AM / a month ago

Italy - Factors to watch on Nov. 1

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 .

COMPANIES

Bourse After Hours market closed.

BANKS

Standard & Poor’s on Tuesday raised the debt ratings on several Italian financial institutions including banks Intesa Sanpaolo, UniCredit and Mediobanca following its recent upgrade of Italy’s sovereign rating.

BANCA CARIGE

The Italian bank posted a 55 million euro ($64 million) third-quarter loss on Tuesday, hit by a bad loan disposal required to comply with regulatory demands. (*) The bank’s planned share issue is seen covered for around 40 percent, Il Sole 24 Ore said, citing feedback from the pre-marketing. The lender has also approached UnipolSai regarding a potential investment in Carige, the paper added. (*) The Malacalza family is in talks with the Bank of Italy and market regulator Consob regarding a possible increase of its 17.6 percent stake in the lender, Il Sole 24 Ore said. (*) The Malacalza family, the bank’s biggest shareholder, could buy part of the rights issue not taken up to raise its stake to close to 20 percent from 17.6 percent, MF said. Gabriele Volpi could raise his stake to close to 10 percent from 6 percent, it said.

YOOX NET-A-PORTER

The online retailer said on Tuesday a lock-up period on a 4 percent stake in the group acquired in April last year by Alabbar Enterprises had expired on Oct. 22.

INTESA SANPAOLO

Chairman Gian Maria Gros Pietro said the bank may beat targets for bad loan reductions set under its plan to 2019 given Italy’s improving economic performance.

BANCO BPM, CATTOLICA ASSICURAZIONI

The bank said on Tuesday it had extended exclusive talks with the insurer over a ‘bancassurance’ partnership to Nov. 9.

The insurer said on Tuesday S&P’s had raised its credit ratings.

(*) BANCO BPM, UNIPOLSAI

An expert values UnipolSai’s put option on 50 percent of Popolare Vita at 585 million euros, Il Sole 24 Ore said.

(*) ENI, MOSSI GHISOLFI

Eni’s chemical unit Versalis has asked Boston Consulting Group to evaluate a potential merger with the Italian business of Mossi Ghisolfi, Il Sole 24 Ore said, citing rumours.

The paper adds that Thai group Indorama, Indonesia’s Reliance Industries and Mexico’s Alpek have shown an interest in Mossi Ghisolfi’s U.S. activities.

POSTE ITALIANE

The group said on Tuesday ratings agency S&P’s had raised its credit rating to ‘BBB’ from ‘BBB-'.

TENARIS

Board meeting on Q3 results.

(*) M&A, ALITALIA

U.S. fund Cerberus has put its interest for Alitalia on ice for the next four months in the hope of finding a new and less restrictive tender process and to negotiate with a new government after elections early next year, Corriere della Sera said, citing an unnamed Cerberus official. The paper added that Cerberus is looking for a 10-20 percent stake in new Alitalia that will emerge from the restructuring process.

(*) M&A, ESSELUNGA

Qatar Investment Authority is interested in the Italian retailing chain, MF said.

(*) IPO, EATALY

Italian food retailer Eataly has mandated Tamburi Investment Partners to work on when and how to list 30-33 percent of the group, MF said.

The company could be worth between 1.8-3.6 billion euros, various papers said, citing banks lining up to be part of the IPO.

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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