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Italy - Factors to watch on Dec. 13

Published 13/12/2016, 06:50 pm
© Reuters.  Italy - Factors to watch on Dec. 13
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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 IT/DIA .

POLITICS

Newly appointed Italian Prime Minister Paolo Gentiloni unveiled his government on Monday, keeping almost all the outgoing ministers in place in a sign of continuity aimed at reassuring financial markets. releases October industrial output (0900 GMT).

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

COMPANIES

BANKS

The European Commission is ready to discuss with Italy a variety of possible solutions to problems in the country's banking sector, the vice president of the EU executive said on Monday. CRDI.MI

Board meeting on strategic review. (*) Italy's largest bank said on Tuesday it would raise 13 billion euros ($13.83 billion) in the country's biggest share issue to clean up its balance sheet and boost longer-term profitability. lender said the ECB had set its minimum 2017 transitional CET1 ratio requirement at 8.75 percent. is to buy rival Pioneer Investments from UniCredit for 3.6 billion euros ($3.8 billion), a deal that will extend the French asset manager's reach in Europe and bring in much needed capital for the Italian bank. MONTE DEI PASCHI DI SIENA BMPS.MI

Italy is ready to pump capital into Monte dei Paschi di Siena if the ailing bank fails to get the 5 billion euros ($5.3 billion) it needs to remain in business from private investors, a Treasury source said on Monday. market regulator Consob has only received "preliminary and generic" information regarding Monte dei Paschi's board meeting on Sunday which sought to breathe new life into a privately-funded rescue plan, a source close to the watchdog said on Monday. Ongoing attempts to see through a privately funded rescue of Monte dei Paschi are partly aimed at shielding the bank's top executives from damages requests were the lender to be bailed out by the state with losses imposed on its investors, Corriere della Sera reported.

Italy has yet to reach an accord with the European Commission over how to reimburse retail bondholders in Monte dei Paschi if the state stepped in to rescue the bank, the paper said.

MEDIASET MS.MI

Vivendi (PA:VIV) said on Monday it holds just over 3 percent of Mediaset and could raise that to as much as 20 percent in a move the Italian broadcaster's top investor called a first step towards launching a hostile takeover bid for the company. ENEI.MI

The energy group sees no change to its ultrafast broadband plans following the resignation of Prime Minister Matteo Renzi, CEO Francesco Starace said on the sidelines of a conference. ENI.MI

The Italian energy company will sell a 30 percent stake in its giant Egyptian offshore gas field Zohr to Russia's Rosneft for $1.575 billion, pressing ahead with asset sales to fund investments and offset weak oil prices. ITALIANE PST.MI

Moody's has changed the company's outlook to 'negative' from 'stable' and affirmed it's 'Baa2' rating. GASI.MI

The insurer has named Marco Sesana Italy country manager and Timothy Ryan new group chief investment officer. BANCA UBI.MI

UBI said the ECB has fixed the minimum 2017 phased-in CET 1 ratio requirement for the lender at 7.5 percent. POPOLARE DI VICENZA

Ordinary shareholders' meeting (0900 GMT).

BANCA POPOLARE DELL'EMILIA ROMAGNA EMII.MI

The lender said that ECB has set its 2017 minimum CET 1 ratio requirement at 7.25 percent. AMPF.MI

The company said Ugo Giorcelli had resigned from his position as CFO. INCI.MI

Bond holders' meeting (1030 GMT).

OPENJOBMETIS OJM.MI

Celebrates first year of IPO with CEO Rosario Rasizza (1130 GMT).

AC MILAN

Serie A club AC Milan holds shareholders' meeting (0930 GMT).

The Chinese consortium seeking to buy Italian soccer club AC Milan is expected to pay an agreed second 100 million-euro ($106 million) deposit by Tuesday, a day later than originally scheduled, two sources close to the matter said on Monday.

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