Italy - Factors to watch on Aug 27

Mon Aug 27, 2012 11:49am IST

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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 (*).

EURO ZONE CRISIS

The head of Germany's Bundesbank stepped up his opposition to the European Central Bank's latest moves to battle the euro zone's debt crisis on Sunday, saying that plans to buy bonds risked becoming a drug on which governments would get hooked.

Germany's finance minister reaffirmed on Saturday his opposition to giving Greece more time to carry out promised reforms, a day after Greek Prime Minister Antonis Samaras pleaded in Berlin for "more air" to implement the painful measures.

Italian Economy Minister Vittorio Grilli expects the economy to contract by 2.1 percent this year and remain flat next year as the worsening global crisis hits the prospects of a recovery, the daily Corriere della Sera said on Saturday.

Italy will offer up to 3 billion euros of zero-coupon bonds (CTZs) and up to 750 million euros of bonds linked to euro zone inflation (BTPEIs) at its regular end-month auction on Aug. 28, the Treasury said on Friday.

*European shares were expected to open flat to lower on Monday, tracking modest losses in Asia, with investor sentiment likely to be dominated once again by speculation as to whether key central banks would launch new stimulus measures.

UNICREDIT

U.S. authorities are investigating UniCredit's German unit HVB as part of a global crackdown on possible violations of sanctions on Iran that has already cost Standard Chartered a hefty settlement.

MONTE DEI PASCHI DI SIENA

Italy's market watchdog Consob is not aware of any new investors having built a stake above 2 percent in Banca Monte dei Paschi di Siena, whose shares have risen sharply in heavy volumes over the past week, a source close to Consob told Reuters on Friday.

MEDIOBANCA

The investment bank has not received any request for a spin-off of its shareholdings, Il Sole 24 Ore said on Saturday citing sources close to the bank cited by Italian newswire ANSA.

FONDIARIA-SAI, PREMAFIN, UNIPOL

The Ligresti family, former owners of Fondiaria-SAI, will aim for a board seat when shareholders of holding Premafin meet in September to choose a new board which majority shareholder Unipol is poised to control, Il Sole 24 Ore and other Italian newspapers said in the weekend.

PRELIOS

Following media reports on Friday, Italian real estate management company Prelios said on Saturday it had received a letter of interest from U.S. asset management company Fortress and an Italian consortium for a stake in the company.

Fortress and the consortium, formed by a former executive from Italy's largest real estate fund Fimit and the Merloni family, have confirmed their interest in completing due diligence and defining the conditions for a binding offer, Prelios said. The company will examine the interest at its Tuesday board meeting.

FIAT

The launch of the new Fiat Punto model may be delayed to 2015, Italian newspapers reported on Saturday citing market speculations, adding that no decision had yet been taken by the group.

Fiat is considering strengthening its partnership with Japan's Mazda among options for the future of its Italian plants, La Repubblica said on Sunday without citing its sources.

RCS MEDIAGROUP

The loss-making publishing group is working on a plan to reduce debt to be approved when shareholders meet for an extraordinary meeting in October, chief executive Pietro Scott Jovane said on Friday without providing details.

TELECOM ITALIA

Findim, the second-biggest shareholder in Telecom Italia, has written down its 4.99 percent stake in the phone operator to 1.5 euros per share from 1.7 euros per share following a similar move by main shareholder Telco, Il Sole 24 Ore said on Saturday.

SMALL & MID CAPS

GEOX

The maker of "breathable shoes" is targeting revenues of around 100 million euros in China and Hong Kong in 2016 as a result of new planned store openings in the region, Il Sole 24 Ore said on Sunday citing the company's three-year industrial plan.

Geox expects revenues of around 820 million euros in 2012 from 887.3 million euros in 2011, with a net profit of 23-26 million euros from 50.2 million euros in 2011, the newspaper said.

YOOX

The online fashion retailer is preparing to unveil a new version of its platform on Sept.3, MF-Milano Finanza said on Saturday citing the group's chief executive.

SOPAF

*Sopaf said on Friday its board had decided to seek a judicial agreement with creditors to avoid financial collapse and will assess whether it can continue operating as a company.

DMAIL

*Shares are suspended pending a statement, the Italian stock exchange said on Monday.

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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