12 de julio de 2016 / 4:04 / hace un año

Italy - Factors to watch on July 12

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 .

GENERAL

Prime Minister Matteo Renzi meets Milan Mayor Giuseppe Sala.

A referendum on Italian constitutional reform planned for the autumn will be held on either Oct. 9 or Nov. 6, the prime minister said on Monday.

ECONOMY

Bank of Italy releases May data on bank lending and domestic government bond holdings at Italy-based banks.

DEBT

Treasury sells 6.5 billion euros of 12-month BOT bills.

COMPANIES

ITALIAN BANKS

Italy’s troubled banks do not represent an acute crisis and bailing out lenders will have an impact on private investors, the leader of euro zone finance ministers said on Monday, reacting to Rome’s plans to back its banking sector with state aid.

Earlier, Italian Prime Minister Matteo Renzi said an agreement to safeguard Italy’s struggling banks within European Union rules is within reach.

Italy’s treasury aims to approve a decree offering banks a state guarantee to help them sell their bad loans by the beginning of August, a source close to the matter said on Monday.

The first sale of a bad loan portfolio backed by an Italian state guarantee scheme is ready and could be launched in the next few weeks, one of the advisors said on Monday. (*) Some specialist investors such as Fortress and Lone Star are weighing a possible investment in bank rescue fund Atlante to buy non-performing loans from Italian lenders, Il Sole 24 Ore said in an unsourced report. (*) Corriere della Sera said foreign banks with units based in Italy could inject money in Atlante. (*) Cassa Depositi e Prestiti, Poste Vita and Banca Mediolanum are among investors who could inject fresh funds in Atlante to let the fund buy soured loans, Il Messaggero said.

(*) MONTE DEI PASCHI

In few days the bank will announce the sale of 25 billion euros of gross non-performing loans, Il Sole 24 Ore said, adding bank rescue fund Atlante would be involved in the transaction.

The scheme to intervene on Monte dei Paschi has been decided, La Stampa reported. The lender will be recapitalised by the state with convertible bonds and it will sell a big part of its 24 billion in bad loans to bank fund Atlante, in which state lender Cassa Depositi e Prestiti will further invest, the newspaper said.

UNICREDIT, FINECOBANK

UniCredit’s board on Monday approved the launch of a strategic in-depth review under its new chief executive as it seeks to boost its capital position and improve profitability.

Unicredit’s CEO said the lender is working with Spain’s Banco Santander to find a solution to progress with the Pioneer deal after the Financial Times had earlier reported that the two banks were set to abandon it.

The bank said on Tuesday it had successfully placed 10 percent of its online broker FinecoBank at 5.40 euros per share, pocketing 328 million euros ($363 million).

VENETO BANCA IPO-VENE.MI

Quaestio, the asset manager running Italian bank rescue fund Atlante, which owns 98 percent of Veneto Banca, said it has proposed to appoint Beniamino Anselmi and Cristiano Carrus respectively as Chairman and Chief Executive of the regional lender at the shareholder meeting of Aug. 8. Quaestio added it would advance the proposal to cut the number of board members from 14 to 11.

RCSM.MI, CAIRO COMMUNICATION

The board of the Milan-based publisher said the offer by Investindustrial and current RCS shareholders was adequate and their industrial plan coherent with the current strategy. It added that the offer by Cairo Communication was also financially adequate but its business plan does not add value to the publisher.

Cairo Communication included a cash component in its takeover offer for Italian publisher RCS MediaGroup after many interested funds and RCS shareholders asked for one, Chairman Urbano Cairo said in an interview with Reuters on Monday.

The media group presents the programmes for the 2016/2017 seasons of its LA7 network (0900 GMT). (*) Andrea Bonomi, head of the Investindustrial fund, told several Italian newspapers that rival offer by Cairo Communication is worth 0.14 euros less than initially accounted for as the cash portion of the bid is funded through debt.

ENAV IPO-ENAV.MI

The privatisation of Italy’s air traffic controller ENAV has got off to a good start with the order book for its initial public share offer covered on the first day of the institutional offer, four sources close to matter said on Monday.

TELECOM ITALIA, TIM PARTICIPACOES

The phone group’s Brazilian unit has laid off 1,700 call center employees, union representatives said on Monday, highlighting efforts to cut costs in the worst recession in decades.

POSTE ITALIANE

Senate Public Works Committee meets on Poste Italiane privatisation.

TAMBURI INVESTMENT PARTNERS

Extraordinary shareholders’ meeting (1500 GMT).

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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