European Market News

Wednesday April 8, 08:14 AM
Italian Stocks - Factors to watch on Wednesday

MILAN, April 8 (Reuters) - The following factors could affect Italian markets on Wednesday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*). * DAVIDE CAMPARI,

PERNOD RICARD The drinks group has agreed to buy the Wild Turkey straight bourbon whiskey brand from France's Pernod Ricard for $575 million in its largest acquisition to date aimed at boosting its U.S. presence. * FINMECCANICA Chief Executive Pier Francesco Guarguaglini told La Stampa newspaper the defense and aerospace group will not 'stand by idly' in the face of a proposal by U.S. Defense Secretary to terminate a presidential helicopter programme. He did not elaborate. FIAT There was an increase of 50 percent in orders in Italy for light commercial vehicles in March from a month earlier, a source close to the industrial group told Reuters on Tuesday, speaking after a fall of 26 percent in vehicle deliveries for the same month. Fiat's market share in this sector in Europe rose to 11.9 percent in March, giving it a first-quarter share of 12 percent, against 11.5 percent a year ago, the source added, citing preliminary estimates. * Goldman Sachs cuts Fiat to 'neutral' from 'buy' and removes it from its 'Conviction Buy' list. * ITALCEMENTI The cement company wants to expand in the Mediterranean, the Middle East, India and southeast Asia, Chief Executive Carlo Pesenti said in an interview in Milano Finanza; he also said the first quarter reflected trends seen in the final quarter of 2008. UNICREDIT German building and loan society Wuestenrot will take over smaller rival Vereinsbank Victoria Bauspar AG (VVB), controlled by a unit of UniCredit SpA, a person familiar with the deal told Reuters on Tuesday. A spokesman for HVB declined to comment. FASTWEB, SWISSCOM The broadband services provider plans to use its cash flow to pay off its debt instead of distributing a dividend, Carsten Schloter, the chief executive of Fastweb's main owner, Swisscom (Virt-X: 874251.VX - news) , said on Tuesday. ENI (Milan: ENI.MI - news) , The oil company will get a $4.2 billion single lump sum payment from Gazprom for the 20 percent stake in Gazprom Neft it is selling to the Russian gas company, a financial source said on Tuesday. Iraq's South Oil Co has issued a tender to drill 20 oil wells in the country's Nassiriya oil field, the company said on its website on Tuesday. Eni is one of the oil companies interested in developing the field. SEAT PAGINE GIALLE (Milan: 266618.MI - news) The telephone directories company will make available from April 20 to authorised brokers the new shares from its 226-for-5 rights issue, a statement said on Tuesday. The issue is due to close on April 17. BANCO POPOLARE Shares in the bank were downgraded by Italy's Banca IMI to 'hold' from 'buy' on Tuesday. TELECOM ITALIA The telecommunications incumbent holds its annual shareholder meeting on Wednesday starting at 0700 GMT. PIRELLI & C Deutsche Bank cuts its rating on the 'hold' from 'buy'. TODS UBS cuts its rating on the shoe maker to 'neutral' from 'buy'. MEDIOBANCA Core (Frankfurt: 257572 - news) shareholders in the investment bank meet on Wednesday to discuss first-half results ended Dec. 31. BANCO POPOLARE DI MILANO The deadline for nominations for board seats, to be voted at the April 25 annual shareholders meeting, closes on Wednesday, Italian news agency Ansa reported on Tuesday. For Italian market data and news, click on codes in brackets: 20 biggest gainers (in percentage)............ 20 biggest losers (in percentage)............. Mibtel (Milan: news) 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 (news) ............. 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 Keywords: ITALY MARKETS/FACTORS Keywords: ITALY MARKETS/FACTORS Keywords: ITALY MARKETS/FACTORS