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Italian Stocks - Factors to watch on Nov 17
MILAN, Nov 17, 2008 (Reuters via COMTEX) --
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 (*).
ITALIAN ECONOMIC PLAN
Italy is preparing a multi-year plan worth 80 billion euros
($101.5 billion) to help its ailing economy, Economy Minister
Giulio Tremonti announced after the meeting of 20 nations to
discuss the global financial crisis.
For a story double click on.
BANKS
A government decree on a 15 billion euro aid programme for
banks should be approved this week, la Repubblica reported on
Saturday. UniCredit, Intesa Sanpaolo, Banca Monte dei
Paschi di Siena, UBI Banca, Banco Popolare , Mediobanca and Banca Popolare di
Milano are the banks that are or could be interested, it
said. The aid will come through perpetual convertible bonds
issued by the banks.
UNICREDIT
The bank won easy approval from shareholders for its 3
billion euro capital increase on Friday despite pricing it at a
35 percent premium to current market val es.
For a story double click on.
ALITALIA
Striking Alitalia staff have hit back at the airline's
management, saying hundreds of flight cancellations over the
last week have been due to Alitalia's need to cut costs rather
than their own industrial action.
For a story double click on.
The business plan for the flag carrier put together by the
CAI consortium foresees no antitrust limits on flights or
prices, Il Messaggero reported on Saturday.
Alitalia's bankruptcy commissioner said he would give a
definitive response to CAI's offer by mid-week, several
newspapers reported.
IMMSI
The holding company of entrepreneur Roberto Colaninno is
studying possible sale of at least part of its Rodriquez
shipyard business to help pay for his investment in the CAI
consortium bidding for Alitalia, La Stampa reported. Potential
investors include Oman's sovereign fund.
CARLO TASSARA SPA
The holding company will sell off its hefty Italian stock
portfolio as soon as possible to pay off 5.5 billion euros in
net debt, Il Messaggero reported on Sunday.
For a story double click on.
* Carlo Tassara's 10 percent stake in power generator Edison
SpA could be one of the first assets put up for sale,
Corriere della Sera said.
TELECOM ITALIA
Telco, the shareholder group that owns 24.5 percent of the
phone company, is studying the refinancing of 3.5 billion euros
in debt, Il Sole 24 Ore reported on Saturday. The move probably
would involve a capital increase, although a convertible bond is
also an option.
* State investment company Cassa Depositi e Prestiti could be
interested in buying part of Telecom Italia's phone network, La
Stampa said. The phone company also is mulling sale of part of
the network as it readies a business plan to be presented next
month, it reported.
* TISCALI
British Sky Broadcasting Group Plc has ready 550
million euros to buy the broadband operator's British assets,
Corriere della Sera reported.
A2A SPA
The regional utility foresees earnings before interest, tax,
depreciation and amortisation of about 1.1 billion euros this
year, with like-for-like growth near double digits, Il Sole 24
Ore said in its Letter to the Investor on Sunday.
SAFILO SPA
Eyewear maker Safilo has prepared countermeasures to bar any
takeover that could be prompted by its fall in market
capitalisation, Executive Vice Chairman Massimiliano Tabacchi
said in comments in la Repubblica newspaper.
FIAT
Chief Executive Officer Sergio Marchionne said on Friday the
U.S. auto industry could disappear without government assistance
and the European Commission should take similar moves for
European car makers.
PARMALAT
The dairy group posted a sharp rise in nine-month net
profits on Friday thanks to legal settlements, but it cut its
2008 outlook for core profit, blaming a weaker global economy.
For a story double click on.
ERG
Oil refiner ERG posted a 49 percent jump in third-quarter
core profit on Friday and said it would trim capital spending by
a third this year as the credit crisis bites.
For a story double click on.
BANCO POPOLARE
The bank's nine-month net profit fell 6.1 percent and it
said it was raising its Core Tier 1 ratio because of the
financial crisis.
For a story double click on.
Credit Suisse cut its rating on Banco Popolare to
"underperform" from "neutral".
FINMECCANICA
JP Morgan cut its price target on the defence and aerospace
company to 12 euros from 20 euros and kept its "neutral" rating.
BUZZI UNICEM
UBS cut its price target on the cement maker to 10 euros
from 12 euros and kept its "neutral" rating on the stock.
FONDIARIA-SAI
Citigroup cut its price target on the insurer to 18 euros
from 30 euros and kept its "hold" rating on the stock.
For Italian market data and news, click on codes in brackets:
20 biggest
gainers (in percentage)............
20 biggest losers (in
percentage).............
Mibtel index..........
S&P/Mib index.........
Indice Mib-30.........
Midex index...........
Allstars index........
Block trades..........
Stories on Italy......
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:............................... Keywords: ITALY MARKETS/FACTORS
(Milan newsroom, +39 02 6612 9507, fax +39 02 801149, milan.newsroom@news
.reuters.com)
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