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Italy - Factors to watch on Sept. 12

Published 12/09/2016, 04:57 pm
© Reuters.  Italy - Factors to watch on Sept. 12
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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 IT/DIA .

ECONOMY

ISTAT releases January-June Italian regions export data (0900 GMT).

The Italian government will revise down its forecasts for growth and inflation when it presents a new macroeconomic scenario for its budget law, Economy Minister Pier Carlo Padoan told newspaper Il Messaggero on Saturday. sells 6.75 billion euros in 12-month BOT bills. Subscriptions close at 0900 GMT.

COMPANIES

MONTE DEI PASCHI DI SIENA BMPS.MI

The European Central Bank has given a preliminary nod to the possible appointment of Marco Morelli, head of Bank of America Merrill Lynch (NYSE:BAC) in Italy, as chief executive of ailing lender Monte dei Paschi di Siena, a source close to the matter said. The bank's chairman and the head of the appointment committee are due to meet ECB representatives on Tuesday ahead of a board meeting to name the new CEO, La Stampa reported on Monday.

The board meeting for the appointment of the new CEO could take place on Thursday, several Italian newspapers reported at the weekend.

It is up to Monte dei Paschi's management to decide the right window of opportunity for a planned capital increase, Italy's economy minister told Il Messaggero on Saturday when asked whether the bank would put back its cash call to next year. rescue plan for Italian bank Monte dei Paschi will not be modified following the resignation of its boss, the country's economy minister said on Saturday. Intesa Sanpaolo (MI:ISP) CEO Corrado Passera will present a new restructuring plan for the bank to Monte dei Paschi's board, La Stampa reported on Saturday, adding he still had a chance to replace outgoing CEO Fabrizio Viola.

(*) Il Giornale reported on Monday Passera's plan would include a commitment by foreign funds to invest up to 2.5 billion euros in Monte dei Paschi.

UNICREDIT CRDI.MI , POSTE ITALIANE PST.MI , BANCA GENERALI BGN.MI

Only five prospective buyers will be allowed to take part in an auction to acquire UniCredit's asset manager unit Pioneer, Il Sole 24 Ore reported on Saturday, adding the list comprised Allianz ALVG.DE , Amundi AMUN.PA , Banca Generali (MI:GASI), Macquarie MQG.AX and Poste Italiane.

POSTE ITALIANE PST.MI

When asked about a possible delay to 2017 of a further privatisation of the Italian post office, Italy's economy minister told Il Messaggero it was up to the company to decide the timing of its planned share sale. POPOLARE BAPO.MI , BANCA POPOLARE DI MILANO PMII.MI

Banco Popolare and Banca Popolare di Milano said on Friday the European Central Bank had granted the parent company of the group born from a merger of the two lenders a banking licence. boards of BPM and Banco Popolare meet on Monday and they are expected to set the date of shareholder meetings called to approve the merger.

(*) SNAI SNAI.MI

Shareholders including Punto Quota Holding and Zaffiro Societa Semplice have challenged in court the June 9 shareholder decision's to appoint the current board, the gaming company said on Monday. SNAI said it believed the challenge was unfounded and has asked its lawyers to defend SNAI's interests. SES.MI trades ex-dividend of 0.48 euros per share.

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