February 6, 2017 / 5:01 AM / 6 months ago

Italy - Factors to watch on Feb. 6

6 Min Read

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 .

Economy

Companies

Telecom Italia

Italy's former telecoms monopolist on Friday posted a better than expected 14.4 percent rise in full-year core earnings, helped by cost cuts and its domestic operations returning to growth.

Conference call on FY results and 2017-2019 industrial plan (1300 GMT).

Unicredit

Capital increase starts, close before March 10.

Italy's stock exchange on Friday set the stock's ex-rights reference price at 13.11 euros and the price for the rights at 13.05 euros each.

The banking foundation shareholder CRT, which owns around 2.2 percent of UniCredit, has decided to subscribe up to around 70 percent of its stake in the lender's 13 billion euro capital increase, diluting its holding to around 1.8 percent, Il Sole 24 Ore said on Sunday. Capital Research, which owns 6.7 percent, is likely to subscribe, the paper added.

UniCredit said on Saturday it had signed a deal with trade unions to cut 3,900 jobs in the country as it prepares to launch a record 13 billion euro ($14 billion) share issue next week. (*) Italian banking foundations will likely have a total stake of 5 percent in the bank after the capital increase, reducing its shareholding from the current 5 percent, CorrierEconomia reported on Monday.

Banca Monte Dei Paschi

The Tuscan bank said on Friday it had reached an accord to sell its merchant acquiring business to ICBPI in a 520 million euro deal.

Intesa Sanpaolo, Generali

Italy's top retail bank is still examining a possible tie-up with insurer Generali and will take all the time it needs to make up its mind, it said on Friday.

Italy's top insurer will hold a meeting on Monday to discuss the 3 percent stake it bought in Intesa Sanpaolo in January to fend off unwanted interest from the bank, a person familiar with the matter said on Sunday.

(*) Salvatore Ferragamo

The Ferragamo family, which has a majority stake in the group, will update the governance pact, "without substantial changes", in order for the younger generations to have a written framework agreement, chairman Ferruccio Ferragamo is quoted as saying by CorrerEconomia. The agreement will be presented to Italy's market watchdog in about six months, Ferragamo added.

Exane BNP Paribas raises target price on the group by 11 percent to 30 euros.

Deutsche Bank raises target price to 20.50 euros from 19 euros.

Citigroup raises target price to 30 euros from 26.50 euros.

(*) Italian Banks

The government will loosen conditions for bondholders of four small banks to ask for a reimbursement for losses they have suffered when the lenders were rescued, Corriere said on Monday.

(*) Banca Generali

The asset gatherer is looking at possible partnerships to expand in foreign countries such as Switzerland and China, Director General Gian Maria Mossa told Affari & Finanza on Monday.

(*) Bper, Banca Popolare Di Sondrio

BPER or Banca Popolare di Sondrio could buy the stakes of Banca Popolare di Vicenza and Veneto Banca in joint asset management company Arca Sgr, CorrierEconomia reported on Monday. (*) ALERION

Josef Gostner, the newly-elected chairman and CEO of the company, told CorrierEconomia he will cut employee, financial and maintenance costs at Alerion. He also plans to give Alerion the set up and management of some projects won by Fri-El.

Eni

The Italian energy company said a fire had started at its Sannazzaro de Burgondi refinery in northern Italy on Sunday morning but had been put out immediately.

Poste Italiane

The Italian post office is ready to confirm its dividend policy of an 80 percent payout, Il Sole 24 Ore said on Sunday.

Safilo

CEO Luisa Delgado told Sunday's la Repubblica that the recently-agreed joint-venture between LVMH and rival Marcolin did not change Safilo's plans. She said the group's U.S. retail chain Solstice was not strategic and that Safilo would seek to expand its top-end 'atelier' segment that currently includes Elie Saab and its own Oxydo brand's eyeglasses.

Parmalat

The dairy group's board is due to meet on Monday on the bid main owner Lactalis has launched on the shares it does not already own.

Ei Towers

Trades ex-dividend of 3.60 euro per share as extraordinary dividend.

Interpump Group

Conference call on acquisition of Spanish Group Inoxpa.

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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