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Italy - Factors to watch on Jan. 6
January 6, 2017 / 5:01 AM / a year ago

Italy - Factors to watch on Jan. 6

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 .

COMPANIES

Bourse After Hours market closed.

(*) BANCA MONTE DEI PASCHI DI SIENA

The lender could issue bonds of up to 4 billion euros in the next two months, making use of the state-backed guarantees made available by the government, MF said. The bank could issue 1.5-2.0 billion euros in January and the same in February.

The Treasury could buy contingent convertible bonds issued by Monte dei Paschi, Il Giornale said.

(*) UBI BANCA

Non binding expressions of interest for the three small Italian banks rescued in 2015, and which UBI is interested in, are due by Jan. 9, Il Sole 24 Ore said. But the paper said UBI is at the moment the only realistic buyer and could close the deal next week, especially if noone comes forward in the new bidding.

Barring a surprise, none of the funds that had expressed an interest in the 3 banks last summer will come forward again and so the sale to UBI could be announced next week, La Stampa said. The paper said 1,700 job cuts out of a total workforce of 4,800 had been identified but added in the end it might only be 900 people tat are affected over 12-18 months, it said.

BANCO BPM

Credit rating agency DBRS assigned on Thursday a long-term rating of “BBB (low)” to the new lender, Banco BPM said in a statement. The trend on the rating is “stable”.

LUXOTTICA

Societe Generale has cut Loxottica to “hold” from “buy”, price target raised to 53 euros from 51 euros.

BANCA POPOLARE DI VICENZA, VENETO BANCA

Popolare di Vicenza said on Thursday it had appointed former UniCredit’s executive Gabriele Piccini chief commercial officer. At the same time, former Monte dei Paschi’s executive Enrico Maria Fagioli Marzocchi will take the role of chief financial officer. The two executive will also become vice general directors. (*) Around 600 million euros has been set aside by the two troubled regional banks to reimbourse 175,000 shareholders who saw the value of their shares decimated by unfolding crisis at the lenders.

AUTOMOTIVE SECTOR

Brazil’s auto sector has revised downwards its expectations for a rebound in vehicle sales this year to just 4 percent from the high single digits, the Anfavea automakers association said on Thursday, with political uncertainty and a recession still weighing on a market that saw sales slump 20 percent last year.

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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