January 2, 2017 / 7:27 AM / 9 months ago

Italy - Factors to watch on Jan. 2

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 .

POLITICS (*) Italian President Sergio Mattarella said on Saturday that the country must adopt a new electoral law before a national vote can be called.

ECONOMY

Markit/ADACI releases December PMI manufacturing (0845 GMT).

Transport Ministry releases December car sales data (1700 GMT).

December state sector borrowing requirement data.

COMPANIES

Bourse After Hours market closed.

There could be some 30 IPOs in 2017, Raffaele Jerusalmi, chief executive of Borsa Italiana, told Il Sole 24 Ore in an interview on Saturday.

ATLANTIA, AUTOSTRADE MERIDIONALI

Italy set 2017 toll-road tariffs for 23 different concessions on Friday, with an average increased cost to travelers estimated at 0.77 percent.

UBI

Several papers reported that UBI’s purchase of three small banks rescued last year has been delayed because the European Central Bank has said other potential buyers be consulted again. As a consequence, bank-bailout fund Atlante’s offer for two-thirds of the gross problem loans held by the three small banks is likely to be delayed as well, il Messaggero said on Saturday.

BANCA MONTE DEI PASCHI DI SIENA

With a state-bailout underway, the troubled lender is planning to issue 15 billion euros ($15.77 billion) of debt next year to boost liquidity and restore confidence, newspapers said last week. The first two bonds will be issued in January and February, Il Sole 24 Ore reported on Saturday.

The bank’s board, which met on Friday, is mulling the idea of creating a “bad bank” vehicle for its non-performing loans, which eventually could also take in bad debt from other Italian lenders, the Sole said.

BANCO BPM

Shares in newly merged bank start trading on Milan Stock Exchange. (*) Banco BPM said on Monday the new lender starts off with a share capital of 7.1 billion euros and that the shares of the merging companies are swapped on the basis of the following ratios: one Banco BPM share for every Banco Popolare share and one Banco BPM share for every 6.386 BPM shares, with a cash settlement for any residual fractions resulting from the stock swap by intermediaries.

The own shares held by Banco Poplare and by BPM are canceled with no share exchange, the statement added.

(*) MEDIASET

Silvio Berlusconi has been contacted directly by other shareholders of the group - with a total stake of between 15 to 20 percent - who have declared themselves ready to support the Berlusconi family’s position, in case of need against France’s Vivendi, daily il Corriere della Sera reported on Monday, citing sources close to the matter.

The report added that the investors have been shareholders since the listing of the group, almost twenty years ago, and would allow the Berlusconi family to have an absolute majority in Mediaset.

It added that Vivendi might not want to launch a takeover bid as considered too costly, but could call a board meeting seeking to increase the number of board members to 21 - from the current 17 - though without necessarily being able to do so.

Italy’s Industry Minister reiterated on Monday that the government did not like the methods used by Vivendi in its stake building in Mediaset and that it awaits the decisions by market regulator Consob and the communications authority on the matter, in an interview with Corriere della Sera.

(*) LUXOTTICA

The SEC’s Corporate finance commission has asked the Italian eyewear group several questions on its governance and on the roles of its management, including that of CEO Massimo Vian, reported Il Sole 24 Ore on Saturday. The company answered that the chief operating decision maker is chairman Leonardo Del Vecchio and that any decision taken by Vian, on both products and operations, requires a green light by Del Vecchio, Il Sole 24 Ore added.

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:............................... ($1 = 0.9512 euros) ($1 = 0.9512 euros)

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