December 8, 2016 / 5:03 AM / 8 months ago

Italy - Factors to watch on Dec. 8

4 Min Read

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 .

Politics

Prime Minister Matteo Renzi resigned on Wednesday after a bruising referendum loss at the weekend, with most parliamentary factions pushing for an early election in a few months' time.

Economy

Rating agency Moody's has cut its outlook on Italy's Baa2 issuer rating to negative from stable, citing diminished prospects for economic and fiscal reform after Sunday's referendum vote.

OECD releases October composite leading indicator (1100 GMT).

Companies

(*) Banks

A cabinet meeting to discuss a framework for state intervention in the country's banks may be held on Saturday afternoon, Il Sole 24 Ore said.

Monte Dei Paschi Di Siena

The lender has asked the European Central Bank for more time to wrap up a 5 billion euro rescue plan that was thrown into doubt by Prime Minister Matteo Renzi's defeat in a referendum at the weekend.

The bank, the world's oldest, has asked the ECB to give it until January 20 to do the deal, from a previous year-end deadline, it said in a statement on Wednesday.

UNICREDIT (*) UniCredit has agreed to sell a 33 percent stake in Poland's second biggest bank Pekao to two Polish state entities for $2.6 billion in an attempt to strengthen its capital position. (*) UniCredit also launched a placement of Pekao equity-linked certificates to facilitate the disposal of its remaining 7.3 percent stake in the Polish unit by Dec. 15, 2019.

Asked if it was true the bank did not need any support from the state, CEO Jean-Pierre Mustier said "yes... absolutely not".

Poland's biggest lender Bank PKO BP said it had issued a commitment letter to lend up to 3.2 billion zloty to one of its clients. (*) INTESA SANPAOLO

The lender has formalised the sale of some properties to Idea Fimit for 488 million euros, Il Messaggero said.

Leonardo Finmeccanica

Canada is set to select Airbus Group to provide search-and-rescue aircraft, a source familiar with the matter said on Wednesday, with Airbus beating Italy's Leonardo in winning the deal.

Telecom Italia

French media group Vivendi held a stake of 23.925 percent in Telecom Italia as of Dec. 5, a filing by Italian market regulator Consob showed.

Anima Holding

The asset gatherer recorded in November negative net inflows at 140 million euros.

Bourse After Hours market closed.

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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