May 23, 2017 / 4:01 AM / 3 months ago

Italy - Factors to watch on May 23

The following factors could affect Italian markets on Tuesday.

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 CTZ and BTPei bonds, with relative amounts to be auctioned on May 26.

COMPANIES (*) MONTE DEI PASCHI DI SIENA

Technical talks on state aid between the bank and the European Commission are expected to wrap up in the next few days, Il Sole 24 Ore said, adding a formal agreement will likely be signed in June. The estimate of a capital shortfall of 8.8 billion euro is confirmed, the daily added, citing sources in Brussels.

A deal between the bank and the European Commission could be reached within a month, with the government injecting more than 5 billion euros in the lender, the Financial Times said, adding Brussels is asking the bank to cut the workforce by up to 10,000 people.

The bank is in talks with bank rescue fund Atlante, and U.S. investment firms Forstress and Elliott for the sale of is bad loan portfolio, Il Messaggero reported. (*) INTESA SANPAOLO

Under a new business plan to be presented next year the bank will continue to guarantee high dividends German business daily Boersen-Zeitung quoted Chief Executive Carlo Messina as saying in an interview. Messina told the daily the lender will focus on wealth management and expand in the insurance business. He added the bank would not be willing to invest in a "new" Alitalia but would not rule out granting loans to the airline post-insolvency.

(*) STMICROELECTRONICS

The group's CEO Carlo Bozotti hints to the possibility that vice-CEO Marc Chery takes the helm of the group when his term ends at the end of this year.

(*) IPO

Pirelli is looking to list 35-40 percent of the company in its planned IPO and would like to reserve around 5 percent for retail investors, Il Messaggero said. The banks involved are looking at a valuation of the group of 10-12 billion euros, it said

(*) BANCA POPOLARE DI VICENZA

Popolare di Vicenza and the Italian tax authority are at odds over the possibility that the bank's shareholders are asked to pay taxes on a compensation paid by the bank to cover investment losses.

(*) ALITALIA

Enrico Laghi, one of the commissioners of Italian airline Alitalia, told La Stampa newspaper the carrier is aiming for cost cuts worth 150-200 million euros, excluding personnel-related issues.

TELECOM ITALIA

JP Morgan owns just under 5 percent in Telecom Italia, filings showed on Monday.

ENI

Tunisian security forces firing teargas clashed with protesters on Monday after they burned down two police stations following the death of a young man hit by a police vehicle during protests over jobs in the south.

ALITALIA

Commissioners managing Italian airline Alitalia have picked Rothschild as financial adviser to assist in the company's sale process, a statement said on Monday.

EMAK

Yama launched the sale of about 10 percent of Emak’s share capital.

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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