14 de noviembre de 2016 / 5:02 / en un año

Italy - Factors to watch on Nov. 14

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 .

ECONOMY (*) If the “No” camp wins at the constitutional referendum on Dec. 4 some tensions could arise on the markets, Bank of Italy governor Vincenzo Visco told la Repubblica on Monday. He added, however, that reforms will continue in Italy regardless of the outcome of Dec. 4 vote. Visco also said that there are ten banks that are facing difficulties in Italy, but the central bank is dealing with them.

Standard & Poor’s on Friday confirmed its BBB- rating on Italy with a stable outlook. S&P said Renzi’s plan to reduce the role of the Senate and centralise decision-making could help political stability, but a rejection of the referendum would not be significant for Italy’s creditworthiness unless it led to a reversal of structural reforms.

Concerns that Italy could become the next nation to be hit by a global populist revolt, which could sink Matteo Renzi’s premiership in a referendum next month, drove its borrowing costs to their highest level for over a year on Friday.

National Statistics institute ISTAT releases October final CPI and HICP data (0900 GMT).

COMPANIES

UNICREDIT,

Italy’s biggest bank may seek to raise between 10 billion and 13 billion euros in a share issue aimed at dispelling persistent concerns about its capital base, four sources familiar with the matter said on Saturday.

Saturday’s Messaggero said the bank would pick shortly the global coordinators of a planned share issue worth 11-12 billion euros with Mediobanca, JPMorgan and BoFA-ML set to join UBS and Morgan Stanley.

UNICREDIT, POSTE ITALIANE, ANIMA HOLDING

UniCredit has received four binding offers for its asset manager Pioneer, valuing the business at more than 3 billion euros, two sources close to the matter said on Friday adding the offers came from a consortium led by Italy’s post office, France’s Amundi, Australia’s Macquarie and U.S.-based Ameriprise Financial.

MONTE DEI PASCHI DI SIENA

The board of Banca Monte dei Paschi di Siena will meet on Monday to set the terms for a bond-to-equity conversion that is part of the lender’s capital boosting plans, a source familiar with the matter said on Sunday.

According to Sunday’s Corriere della Sera, the Monday board meeting will decide on the bad loan platform sale between Cerved and DoBank.It will also decide on the conversion of subordinated bonds into equity and update on anchor investors. The paper says some 10 sovereign and institutional investors have signed confidentiality agreements to access the data room.

The bank is reaching out to Asian investors, and especially Singapore wealth fund Temesek, Il Sole 24 Ore said on Sunday.

Fortress Group unit DoBank has decided not to bid for Monte dei Paschi’s non-performing loan platform, Ansa newswire said on Sunday.

An alternative rescue plan for the lender sponsored by former industry minister Corrado Passera envisaged classing as non-performing a further 4.4 billion euros in unlikely-to-pay loans older than one year, La Stampa reported on Saturday.

(*) UBI BANCA

The supervisory board of the European Central Bank will evaluate the offer of UBI Banca to buy three of four small lenders rescued last year on Nov. 24, Il Corriere said on Monday. UBI will buy the three lenders for a symbolic price, the newspaper said, adding the bank will agree to boost its capital for an amount of between 250 million and 400 million euros.

INTESA SANPAOLO

Buyout firms have approached the Italian lender and Santander Asset Management over a possible takeover of the Allfunds Bank mutual fund platform which could be worth up to 2 billion euros, sources told Reuters on Friday,

TELECOM ITALIA

Italy’s biggest phone group said on Friday a 1.3 bln euro-worth guaranteed subordinated mandatory convertible bond due in 2016 will convert on Nov.15 into 1.7 bln newly-issued Telecom Italia ordinary shares, equal to around 11.2 percent of the ordinary share capital of the group.

(*) ACEA

The utility will announce in the coming days two acquisitions in the water sector, la Repubblica reported on Monday, adding the group is interested to have a role in the development of a broad band network in Italy and could join forces with Enel Open Fiber.

(*) IPO

Food company Gf group plans to go public through a business combination with a listed company, la Repubblica reported on MOnday.

ATLANTIA

The Italian toll-road opearator said on Friday 9-month revenue rose 3 percent to 4.129 billion euros supported by healthy Italian traffic flows.

UBI BANCA

The bank is awaiting the final go-ahead from the ECB to buy three of four small banks Italy rescued from bankruptcy last year, Milano Finanza reported on Saturday quoting a source close to the matter. The paper said Atlante would buy a portion of the banks’ bad loans while the voluntary section of a deposit guarantee fund would help UBI strengthen their capital.

The bank could announce the acquisition of the three banks at the start of December, Il Giornale and Il Messaggero said on Sunday. Messaggero said bank rescue fund Atlante will be involved in the bad loan side of the deal.

VENETO BANCA IPO-VENE.MI

The Italian regional lender said on Friday it had appointed Massimo Lanza as its new chairman.

CREDITO EMILIANO

The lender said on Friday 9-month net profit was 103 million euros, down 31.4 percent year-on-year.

BANCA GENERALI

In the first two weeks of November the inflow trend continued to be very strong and for the year a double-digit increase in inflows is expected compared to 2015, the asset manager’s managing director Gian Maria Mossa was quoted as saying by Il Messaggero on Sunday.

SALVATORE FERRAGAMO

Board meeting on Q3 results, followed by conference call (1700 GMT).

SOLE 24 ORE

The publisher of Italy’s leading financial daily said on Friday its nine-month net loss more than doubled from the previous year to 62 million euros due to falling advertising revenues and lower sales of add-ons as well as writedowns.

Ordinary shareholders’ meeting (0900 GMT).

CAIRO COMMUNICATION

Board meeting on Q3 results.

MOLESKINE

DM Invest Srl starts full mandatory takeover bid on Moleskine ordinary shares; ends on Dec. 2.

IMMSI

Board meeting on Q3 results.

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:...............................

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below