January 9, 2017 / 5:02 AM / 8 months ago

Italy - Factors to watch on Jan. 9

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

ISTAT releases November flash unemployment data (0900 GMT).

Bank of Italy releases December data on European Central Bank funding to Italian banks.

Alitalia’s top management meets Economic Development Minister Carlo Calenda and Transport and Infrastructure Minister Graziano Delrio.

DEBT

Treasury announces sale of BTP bonds, with relative amounts to be auctioned on Jan. 12.

COMPANIES (*) FIAT CHRYSLER

The auto maker on Sunday said it will invest $1 billion to modernize two plants in the U.S. Midwest and create 2,000 jobs, upping the ante as automakers respond to threats from President-elect Donald Trump to slap new taxes on imported vehicles.

Jp Morgan cuts the target price on Fiat Chrysler Automobiles to 8.5 euros from 9.2 euros.

UNICREDIT (*) The CEO Jean Pierre Mustier will invest 2 million euros in shares of the bank, he told CorrierEconomia in an interview on Monday. The group will not inject additional resources into Italian bank bailout fund Atlante, Mustier said.

The lender could launch its capital increase on Feb. 13 and complete it by the end of March, reported il Messaggero on Sunday. The bank’s managers count on the support of old shareholders, especially the banking foundations, and Abu-Dhabi investment firm Aabar, the second largest shareholder, which could commit 650 million euros, the report added.

MEDIASET

Italy’s communications authority (AGCOM) will meet mid-week to discuss its investigation into Vivendi’s stake building in Mediast but is not expected to reach any decision, Il Sole 24 Ore said on Saturday. AGCOM has up to 4 months to look into the anti-trust regulations which stop companies from having an excessive control over the domestic media and tlc markets, but is expected to decided rapidly, added the report.

Saudi Arabia’s King Salman bin Abdulaziz, who holds just under 2 percent of Mediaset shares, Banca Mediolanum Chairman Ennio Doris, with a 0.6 percent stake, Silvio Berlusconi’s former wife Veronica Lario, soccer player Andrea Pirlo and Guido Leiballe, the TV group’s single largest retail investor, could all be potential Berlusconi allies in the battle against Vivendi, Corriere della Sera said on Sunday. (*) The group may join forces with German media company ProSiebensat.1 and France’s Tf1 to compete with Netflix, CorrierEconomia reported on Monday.

FINCANTIERI

After getting a green-light from a South Korean court for its bid to buy a 67 percent share shipbuilder STX France, the Italian company is talking to the French government, which owns the remaining 33 percent, over the governance of the company, il Sole 24 ore reported on Saturday. The operation, which requires approval from the European Antitrust authorities, could be closed as early as end of February, added the report.

POSTE ITALIANE

The Italian post office said it would support initiatives to help some 80,000 clients who have invested in the last ten years in four real estate investment funds through the Poste network and now risk making big losses, several dailies reported on Saturday. A first evaluation of what could be done to support the clients could be carried out at the next board meeting, due in the coming days, reported La Stampa on Saturday.

(*) ENEL

Enel Open Fiber’s plan to connect 9.5 million clients to an ultra-fast telecom network is running ahead of schedule, the Enel’s unit CEO told la Repubblica-Affari & Finanza on Monday.

BANCA POPOLARE DI VICENZA, VENETO BANCA

The two regional lenders aim to close the first phase of examination of their merger plan by the end of January, Il Sole 24 Ore said on Sunday. A capital increase of between 2-2.5 billion euros and the disposal of non-strategic assets will be necessary, added the report, without giving further details.

On Monday, the two banks’ top executives will present a settlement proposal to shareholders whose investment was all but wiped out when the two banks were rescued by banking industry bailout fund Atlante. At 1430 GMT in Padua.

Italy’s populist 5-Star Movement is appealing to Europe’s highest court to obtain compensation for thousands of people whose savings were all but erased by bailouts at the two banks.

BRUNELLO CUCINELLI

Board meeting on preliminary FY results.

ITALGAS

Starts investors meetings ahead of launch of fixed-rate senior unsecured bond.

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

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