August 29, 2017 / 4:03 AM / a month ago

CORRECTED-Italy - Factors to watch on Aug. 29

(Corrects broker name in Telecom Italia item to Bernstein) 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 sells 6.0 billion euros 6-month BOT bills. Subscriptions close at 0900 GMT.

COMPANIES

Bourse After Hours market closed.

(*) BANKS

Rescue fund Atlante 2 has formed a consortium of seven banks, including Banca IMI and Natixis, which will subscribe the securitisation of the senior tranche of non-performing loans of savings banks Cesena, Rimini and San Miniato for a nominal value of 416 million euros, Il Sole 24 Ore said.

INTESA SANPAOLO

The lender said on Monday it would launch a subordinated Tier 2 bond for up to 750 million euros ($898 million) targeted at domestic investors.

(*) GENERALI

The insurer is getting ready to sell its Portuguese assets, several papers said, citing Portuguese daily Jornal Economico. The papers said Caravela Seguros, Liberty Mutual, Zurich Insurance and Allianz were among interested buyers and that the sale process would kick-off after September. The insurer declined to comment.

(*) A2A

The hearing by a high court in Montenegro to examine the utility’s appeal of a temporary seizure of its stake in Elektroprivreda Crne Gore (EPCG) has been postponed to Sept. 15, Il Sole 24 Ore said.

(*) TELECOM ITALIA

Bernstein has downgraded the stock to ‘market perform’ and revised its target price to 0.9 euros per share, citing “weakening fundamental tailwinds, opaque governance and the absence of positive catalysts”.

The government has until Sept. 18 to decide whether to apply the so-called ‘golden power’ over Vivendi’s stake in TIM, La Repubblica said. The golden power enables Rome to veto certain operations including asset sales, merger and any change of control of the company.

BRUNELLO CUCINELLI

Board meeting on H1 results (preliminary results on July 13), followed by conference call (1600 GMT).

ELICA

The group said on Monday it had sold its German subsidiary Exklusiv-Hauben Gutmann and that it expects an improvement in its 2017-19 objectives.

(*) STMICROELECTRONICS

The company has inked a 500 million euro financing with the European Investment Bank for a research and development project, MF said.

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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