March 17, 2017 / 5:02 AM / 5 months ago

Italy - Factors to watch on March 17

The following factors could affect Italian markets on Friday.

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 January foreign trade data (0900 GMT).

COMPANIES (*) LEONARDO, POSTE ITALIANE, ENI, ENEL

Italy is expected to replace the chief executives of Poste Italiane and Leonardo in a round of appointments at state-controlled firms this month, several sources close to the matter told Reuters on Thursday.

Veteran banker Alessandro Profumo, who stepped down as chairman of the troubled Monte dei Paschi di Siena in August 2015, is seen as a frontrunner to take the helm at defence group Leonardo, a source said.

If Profumo were appointed to lead Leonardo, the position of director general, currently held by CEO Mauro Moretti, would be handed over to an internal candidate, such as Fabrizio Giulianini, both Corriere della Sera and il Messaggero reported.

Leonardo chairman Gianni De Gennaro could also leave the company and be replaced by a woman candidate, both dailies added.

The list of choices made by the Treasury could be made public as early as Friday, after market close, several dailies reported.

(*) ENEL

Italy's biggest utility raised its dividend on Friday and confirmed targets for the year after posting a 12.3 percent rise in net profits for 2016. In a statement on Friday, Enel said its net ordinary profit for last year was 3.243 billion euros ($3.5 billion), in line with an analyst consensus and its own target, lifted by a stronger performance in Latin America and Spain.

CEO Francesco Starace said a post-results conference call that he sees potential merger and acquisition (M&A) opportunities in Europe after the French and German elections.

FIAT CHRYSLER

Fiat Chrysler Automobiles said on Thursday it completed the placement of CNH Industrial shares equal to a 1.17 percent stake in the trucks and tractor maker ,via an accelerated bookbuilding to certain institutional investors at a price of 9.05 euros per share.

BANCO BPM

The lender said on Thursday it would launch an cash tender offer worth around 640 million euros to buy back Lower Tier II bonds issued by Banco Popolare and due November 18, 2020.

MONTE DEI PASCHI DI SIENA

The banks said on Thursday that rating agency Fitch had assigned a long-term rating of BBB+ to the state guaranteed note issued on March 15.

(*) IL SOLE 24 ORE Frence's Vivendi had made itself available to take part in the needed recapitalisation for struggling Italian daily Il Sole 24 Ore, but its offer was rebuked by the head of Italy's employers association Confindustria, which controls the daily, La Repubblica said in an unsourced report.

Vivendi could be interested in expanding in the Italian media sector or could be pushed by the desire to improve its image in the country, Repubblica reported.

It added that Confindustria also rejected a proposal from Chinese investors.

CREDEM

Credito Emiliano said on Thursday it would pay a dividend over 2016 results of 0.15 euros per share.

ENAV

CEO Roberta Neri told analysts in a post-results conference call that she does not expect any impact from Alitalia restructuring on the group's activity.

INWIT

The grouo's FY net profit amounted to 97.9 million euro from 83.9 million euro in 2015 pro-forma.

(*) ALITALIA

Unions do not seem willing to accept the cuts envisaged in the company's new industrial plan and the company fears it will not reach a deal with them quickly enough, thus affecting sales for the summer season, La Stampa said in an unsourced report.

Liquidity could run out within a month and the carrier requires some 400 million euros in contingent equity, the report added.

Separately, il Sole 24 Ore said the airline needs 900 million euros to execute its new business plan. The paper added Alitalia would need a further 500 million euros to cover its liquidity gap, as money is seen running out by the end of the month. The paper cited union sources as saying that job cuts could be as high as 3,000-4,000.

IPO

Italian consumer electronics retailer Unieuro said on Thursday the Bourse had given its green light to its IPO.

(*) VENETO BANCA, POPOLARE DI VICENZA

The boards of the two troubled Veneto banks have sent their answers to the European Central Bank's queries over their respective restructuring plans, sources close to the matter told Reuters on Thursday.

Although the lenders intend to go ahead with a state rescue under the "precautionary recapitalisation" scheme and subsequent merger, their boards still have not advanced a formal request for state intervention, the sources added.

RCS MEDIAGROUP

Board meeting on FY results.

BANCO DI SARDEGNA

Saving shareholders' meeting (0900 GMT).

ACSM-AGAM

Board meeting on FY results.

BANCA POPOLARE DI SONDRIO

Board meeting on FY results (preliminary results on Feb. 9).

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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