February 8, 2017 / 6:09 AM / 8 months ago

Factors to watch on Feb. 8

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 .

DEBT

Treasury announces sale of BTP bonds, with relative amounts to be auctioned on Feb. 13.

COMPANIES

UNICREDIT

UniCredit foundation shareholders Fondazione del Monte di Bologna e Ravenna, Fondazione Cassa di Risparmio di Modena have decided to invest up to 96 million euros in UniCredit’s 13 billion euro cash call.

BANKS

The head of Italy’s bank-bailout fund said on Tuesday the country lacked a clear strategy for shifting 356 billion euros in problem loans. In an extraordinary outburst from a man picked by Rome to help tackle the problem, Alessandro Penati, whose asset manager was chosen to raise private funds for struggling banks, said he felt “bitter and disillusioned”.

(*) INTESA SANPAOLO

Suitors for a 2.5 billion euro bad loan portfolio put on sale by the bank will have to present their binding offers by March 20, Il Sole 24 Ore reported. (*) BANCA MONTE DEI PASCHI DI SIENA

The presentation of the bank’s industrial plan is postponed to the end of the month, as the conversion of the government’s for the rescue of the lender requires more time, reported il Messaggero.

The lender will post 1 billion in losses for 2016 due to new writedown, the report added.

The plan will be examined by the bank’s board on Feb. 23, MF reported.

(*) FIAT CHRYSLER

Fiat Chrysler vehicles were allowed to skip key tests for illegal engine software during Italy’s main emissions-cheating investigation in the wake of the Volkswagen scandal, according to the transport ministry’s own report.

The European Union’s Industry Commissioner Elzbieta Bienkowska said she would not comment an “ongoing procedure” when asked about the mediation by the EU Commission after Germany accused Italian regulators of failing to act on evidence that FCA models used banned defeat devices, in an interview with Corriere della Sera.

“Until the emissions scandal will be defintiely cloed we will not be able to go on and the automotive sector will not be able to maintain its position as leader sector in Europe,” Bienkowska said, adding the Eu had to be “credible and transparent.. for the good of all”

ENI

Egypt paid its $630 million financial obligation in January to Italian oil and gas company Eni to develop the biggest gas fields ever found in the Mediterranean, Rami Aboul Naga, assistant Sub Governor for foreign reserves at the Central Bank of Egypt, told state news agency MENA on Tuesday.

(*) YOOX NET-A-PORTER

The luxury online retailer said on Tuesday revenue rose 17.7 percent last year at constant exchange rates, lifted by sales of the luxury brand flagship stores it operates and strength in the Asia Pacific region.

Its CFO Enrico Cavatorta said the group expects net revenues in 2017 to grow 17-20 percent on an organic basis, in line with the strategic plan guidance.

CERVED

Italy’s Cerved said on Tuesday its Cerved Credit Management Group unit had signed a letter of intent with Barclays Bank to exclusively manage a mortgage portfolio worth about 12 billion euros.

CNH INDUSTRIAL

CNH Industrial unit Iveco holds a news conference to present FY results with brand President Pierre Lahutte (1000 GMT).

IREN

The town council of Genoa voted on Tuesday against a decision paving the way for the sale of a majority stake in Genoa waste company Amiu to Iren. The city of Genoa controls multiutility Iren alongside the city of Turin.

(*) SNAI

The group said on Tuesday that the board of directors approved the proposal to change the company’s name to Snaitech.

(*) PARMALAT

After examining the fairness opinion by advisers Lazard and Leonardo&Co, the board of directors resolved that the tender offer consideration are fair but said that the 2.8 euros per share price “was within the lower part of the range of amounts indicated in the fairness opinion”.

BANCA SISTEMA

Board meeting on preliminary FY results, followed by conference call.

CREDITO EMILIANO

Board meeting on preliminary FY results. (*) IPO

Banks interested in advising Italy’s railway group (IPO-FERRO.MI) on spinning-off its high-speed and long-distance trains business will have to present bids by the end of February, Il Sole 24 Ore reported. The state-owned group plans to list the businesses by the end of the year, the newspaper added, confirming the schedule announced last year.

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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