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Italy - Factors to watch on July 6
July 6, 2015 / 4:05 AM / 2 years ago

Italy - Factors to watch on July 6

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 .

DEBT

Italy has experienced much worse market conditions than it is at the moment and can sell bonds normally, the head of the Debt Management Office Maria Cannata was quoted as saying by several newspaper. She called “very aggressive” an estimate made by Standard & Poor’s that rising bond yields as a result of a ‘Grexit’ could cost Italy 11 billion euros from now until end-2016.

Prime Minister Matteo Renzi told Il Messaggero on Sunday S&P estimate was based on “Figures that are in no way realistic, not even in the Italian economy’s darkest days, a few years ago.”

The paper says the 11 billion euro cost assumes the BTP-bund spread remaining at 650 basis points for a year.

* EURO ZONE

Greek Finance Minister Yanis Varoufakis, whose forceful denunciations of creditors alienated many of his euro zone colleagues, resigned on Monday, saying Prime Minister Alexis Tsipras believed it would help smooth the path to a new aid deal.

His resignation comes after Greeks delivered a resounding ‘No’ to the conditions of a rescue package with international creditors, casting the country into uncharted waters and a possible exit from Europe’s common currency.

COMPANIES

TELECOM ITALIA

The CEO of French media group Vivendi will meet the top managers of the Italian phone company on Wednesday in Rome, daily Il Sole 24 Ore reported on Saturday. * After an incoming management reshuffle, Italian state fund Cassa Depositi e Prestiti may even decide to buy a stake in Telecom Italia, la Repubblica said on Monday.

FIAT CHRYSLER

The listing of Ferrari may value the sports car unit at at least 10 billion euros, FCA CEO Sergio Marchionne said on Friday.

Consolidation continues to be necessary in the auto industry but there is nothing new to report on Fiat Chrysler’s desire for a tie-up with General Motors, FCA CEO Sergio Marchionne said on Friday.

ENI

The Italian oil major said on Friday independent board member Luigi Zingales had resigned over divergences about the role of the board.

Egypt has raised the prices it pays Eni and Edison for the natural gas they produce in the country, an official with state-owned gas company EGAS said on Sunday.

BANCA MONTE DEI PASCHI

The bank CEO will fly to Frankfurt at the end of July to tell the European Central Bank on how the lender is implementing the plan to strengthen its capital base, Il Sole 24 Ore reported on Saturday.

UBI BANCA

Credit rating agency Standard & Poor’s said on Friday it had revised outlook on the lender to stable from negative and had affirmed its BBB-/A3 ratings.

IPO

Rome is looking at selling around 40 percent of wholly-owned Poste Italiane, the head of the technical office of the Economy Ministry Fabrizio Pagani told financial daily Il Sole 24 Ore on Saturday.

PRIVATE EQUITY

Italy’s Investindustrial is sounding out prospective buyers for Polynt Group, a provider of intermediate polymers and composites, Il Sole 24 Ore reported on Sunday. The chemical group could be valued around 1 billion euros, according to the paper.

VIANINI LAVORI

Italy’s Caltagirone family holding company FGC Finanziaria said on Friday it had reached a stake of 88.5 percent in builder Vianini Lavori after a public tender it launched on the group was 40.6 percent subscribed.

Trade ex-dividend: BREMBO 0,20 euro per share as special dividend; COMPAGNIA DELLA RUOTA 0.0260 euro per category A share as ordinary and special dividend; TREVI 0.07 euro per share.

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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