Italy - Factors to watch on Nov. 14
14/11/2016 05:00
The following factors could affect Italian markets on Monday.
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
IT/DIA .
ECONOMY
Standard & Poor's on Friday confirmed its BBB- rating on
Italy with a stable outlook. S&P said Renzi's plan to reduce the
role of the Senate and centralise decision-making could help
political stability, but a rejection of the referendum would not
be significant for Italy's creditworthiness unless it led to a
reversal of structural reforms. urn:newsml:reuters.com:*:nFWN1DC195
Concerns that Italy could become the next nation to be hit
by a global populist revolt, which could sink Matteo Renzi's
premiership in a referendum next month, drove its borrowing
costs to their highest level for over a year on Friday.
urn:newsml:reuters.com:*:nL8N1DC2XY
National Statistics institute ISTAT releases October final
CPI and HICP data (0900 GMT).
COMPANIES
UNICREDIT CRDI.MI ,
Italy's biggest bank may seek to raise between 10 billion
and 13 billion euros in a share issue aimed at dispelling
persistent concerns about its capital base, four sources
familiar with the matter said on Saturday. urn:newsml:reuters.com:*:nL8N1DD0FZ
Saturday's Messaggero said the bank would pick shortly the
global coordinators of a planned share issue worth 11-12 billion
euros with Mediobanca, JPMorgan and BoFA-ML set to join UBS and
Morgan Stanley.
UNICREDIT, POSTE ITALIANE PST.MI , ANIMA HOLDING ANIM.MI
UniCredit has received four binding offers for its asset
manager Pioneer, valuing the business at more than 3 billion
euros, two sources close to the matter said on Friday adding the
offers came from a consortium led by Italy's post office,
France's Amundi, Australia's Macquarie and U.S.-based Ameriprise
Financial. urn:newsml:reuters.com:*:nL8N1DB9YI
UniCredit is expect to draw a shortlist with its advisers on
Monday which should include Poste and Amundi, Il Messaggero
reported on Saturday adding offers were worth 3.7-4.0 billion
euros.
MONTE DEI PASCHI DI SIENA BMPS.MI
The board of Banca Monte dei Paschi di Siena will meet on
Monday to set the terms for a bond-to-equity conversion that is
part of the lender's capital boosting plans, a source familiar
with the matter said on Sunday. urn:newsml:reuters.com:*:nL8N1DE0L5
According to Sunday's Corriere della Sera, the Monday board
meeting will decide on the bad loan platform sale between Cerved
and DoBank.It will also decide on the conversion of subordinated
bonds into equity and update on anchor investors. The paper says
some 10 sovereign and institutional investors have signed
confidentiality agreements to access the data room.
The bank is reaching out to Asian investors, and especially
Singapore wealth fund Temesek, Il Sole 24 Ore said on Sunday.
Fortress Group unit DoBank has decided not to bid for Monte
dei Paschi's non-performing loan platform, Ansa newswire said on
Sunday.
An alternative rescue plan for the lender sponsored by
former industry minister Corrado Passera envisaged classing as
non-performing a further 4.4 billion euros in unlikely-to-pay
loans older than one year, La Stampa reported on Saturday.
INTESA SANPAOLO ISP.MI
Buyout firms have approached the Italian lender and
Santander Asset Management over a possible takeover of the
Allfunds Bank mutual fund platform which could be worth up to 2
billion euros, sources told Reuters on Friday, urn:newsml:reuters.com:*:nL8N1DC4FM
TELECOM ITALIA TLIT.MI
Italy's biggest phone group said on Friday a 1.3 bln
euro-worth guaranteed subordinated mandatory convertible bond
due in 2016 will convert on Nov.15 into 1.7 bln newly-issued
Telecom Italia ordinary shares, equal to around 11.2 percent of
the ordinary share capital of the group. urn:newsml:reuters.com:*:nI6N1D302A
ATLANTIA ATL.MI
The Italian toll-road opearator said on Friday 9-month
revenue rose 3 percent to 4.129 billion euros supported by
healthy Italian traffic flows. urn:newsml:reuters.com:*:nI6N1D3024
UBI BANCA UBI.MI
The bank is awaiting the final go-ahead from the ECB to buy
three of four small banks Italy rescued from bankruptcy last
year, Milano Finanza reported on Saturday quoting a source close
to the matter. The paper said Atlante would buy a portion of the
banks' bad loans while the voluntary section of a deposit
guarantee fund would help UBI strengthen their capital.
The bank could announce the acquisition of the three banks
at the start of December, Il Giornale and Il Messaggero said on
Sunday. Messaggero said bank rescue fund Atlante will be
involved in the bad loan side of the deal.
VENETO BANCA IPO-VENE.MI
The Italian regional lender said on Friday it had appointed
Massimo Lanza as its new chairman. urn:newsml:reuters.com:*:nI6N1D302B
CREDITO EMILIANO EMBI.MI
The lender said on Friday 9-month net profit was 103 million
euros, down 31.4 percent year-on-year. urn:newsml:reuters.com:*:nI6N1D302C
BANCA GENERALI BGN.MI
In the first two weeks of November the inflow trend
continued to be very strong and for the year a double-digit
increase in inflows is expected compared to 2015, the asset
manager's managing director Gian Maria Mossa was quoted as
saying by Il Messaggero on Sunday.
SALVATORE FERRAGAMO SFER.MI
Board meeting on Q3 results, followed by conference call
(1700 GMT).
SOLE 24 ORE S24.MI
The publisher of Italy's leading financial daily said on
Friday its nine-month net loss more than doubled from the
previous year to 62 million euros due to falling advertising
revenues and lower sales of add-ons as well as writedowns.
urn:newsml:reuters.com:*:nBIA113c0
Ordinary shareholders' meeting (0900 GMT).
CAIRO COMMUNICATION CAI.MI
Board meeting on Q3 results.
MOLESKINE MSK.MI
DM Invest Srl starts full mandatory takeover bid on
Moleskine ordinary shares; ends on Dec. 2.
IMMSI IMSI.MI
Board meeting on Q3 results.
((Milan newsroom, +39 02 6612 9507, fax +39 02 801149,
milan.newsroom@news.reuters.com))
For Italian market data and news, click on codes in
brackets:
20 biggest gainers (in percentage)............ .PG.MI
20 biggest losers (in percentage)............. .PL.MI
FTSE IT allshare index .FTITLMS
FTSE Mib index........ .FTMIB
FTSE Allstars index... .FTSTAR
FTSE Mid Cap index.... .FTITMC
Block trades.......... .BLK.MI
Stories on Italy...... IT-LEN
For pan-European market data and news, click on codes in
brackets:
European Equities speed guide................... EUR/EQUITY
FTSEurofirst 300 index.............................. .FTEU3
DJ STOXX index...................................... .STOXX
Top 10 STOXX sectors........................... .PGL.STOXXS
Top 10 EUROSTOXX sectors...................... .PGL.STOXXES
Top 10 Eurofirst 300 sectors................... .PGL.FTEU3S
Top 25 European pct gainers....................... .PG.PEUR
Top 25 European pct losers........................ .PL.PEUR
Main stock markets:
Dow Jones............... .DJI Wall Street report ..... .N
Nikkei 225............. .N225 Tokyo report............ .T
FTSE 100............... .FTSE London report........... .L
Xetra DAX............. .GDAXI Frankfurt market stories .F
CAC-40................. .FCHI Paris market stories... .PA
World Indices..................................... 0#.INDEX
Reuters survey of world bourse outlook......... EQUITYPOLL1
Western European IPO diary.......................... WEUIPO
European Asset Allocation........................ EUR/ASSET
Reuters News at a Glance: Equities............... TOP/EQE
Main currency report:............................... FRX/
Keywords: ITALY FACTORS/NOV. 14