European Market News

Wednesday December 10, 08:35 AM
Italian Stocks - Factors to watch on Dec 10

MILAN, Dec 10 (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 (*). ALITALIA (Milan:

AZA.MI - news) The final details of a partnership agreement between the CAI consortium taking control of Italy's Alitalia and Air France (Paris: FR0000031122 - news) -KLM will be agreed on Wednesday, business daily MF said in an unsourced report. For a full story, please double click on ENI SPA (Milan: ENI.MI - news) Libya should face no political obstacles to its purchase of an interest in oil major Eni, though buying a stake of 10 percent or more would be cause for concern, Italy's foreign minister said. For a full story, please double click on. ENEL (Milan: ENEL.MI - news) Enel will probably buy Spanish builder Acciona's 25 percent stake in Spain's Endesa (Madrid: ELE.MC - news) in mid-January at a discount to the agreed price of 11 billion euros, Finanza & Mercati said in an unsourced report. Last week, Enel denied a media report it had offered 12 billion euros for the stake. For more on Enel double click on BANCO POPOLARE (Milan: BP.MI - news) New Chief Executive Pier Francesco Saviotti is working to speed up sale of assets designed to bolster the cooperative bank's capital ratios, Il Sole 24 Ore (Milan: S24.MI - news) reported. Work is nearly completed on the 751 million euro Eracle real estate fund, it said. Saviotti aims by the end of the year to rebalance the capital ratios and lighten the bank's liquidity requirements for affiliate Banca Italease (Milan: BIL.MI - news) , the newspaper said. Rumours of a capital increase or cut in dividend are 'speculation'. Saviotti plans to cut the dividend to avoid a capital increase as well as rationalising the bank's holdings and more joint ventures, MF reported. Saviotti also will oversee a governance revamp, including a two-board system and organised as a federation of local banks, it said. CARLO TASSARA SPA Creditor banks are seeking a replacement to Pier Francesco Saviotti as chairman of the holding company with Saviotti's appointment as chief executive of Banco Popolare, Il Sole 24 Ore reported. INTESA SANPAOLO (Milan: ISP.MI - news) The bank (NASDAQ: TBHS - news) has received clearance from the Bank of Italy for its Omega real estate fund, Corriere della Sera reported. Omega will group 285 properties valued at 1.166 billion euros, it said. * Supervisory Board Chairman Giovanni Bazoli and Director General Pietro Modiano met on Tuesday to discuss reorganisation of retail operations, Corriere della Sera reported. TISCALI SPA (TIS.MDD - news) Pay-TV group British Sky Broadcasting Group Plc said it could make sense to buy the British unit of Italian broadband operator Tiscali to increase greatly the number of households it can reach. For a full story, please double click on. GABETTI PROPERTY SOLUTIONS (Milan: GAB.MI - news) Gabetti has agreed with financial institutions that they will not revoke outstanding credit lines before Jan. 31. For a full story, please double click on. TELECOM ITALIA MEDIA (Milan: TME.MI - news) Telecom Italia Media is preparing to sell off two digital multiplexes and an unnamed U.S. private equity fund is interested in the assets, MF reported, citing qualified market sources. The value of the deal is between 200 million euros and 300 million euros and the two parties are in talks about a letter of intent. FINMECCANICA SPA (Milan: FNC.MI - news) DRS Technologies Inc (NYSE: DRS - news) , a unit of the aerospace and defence company, has recently received a $531 million contract ceiling extension from the U.S. Army for production of the JV-5 vehicle computing and display system, Finmeccanica said. ANIMA SGR (Milan: ANM.MI - news) Banca Popolare di Milano (Milan: PMI.MI - news) 's buyout offer for all of asset management company Anima will run from Dec. 15 to Jan. 23, the Milan bank said on Tuesday. For a full story, please double click on. BULGARI (Milan: BUL.MI - news) Morgan Stanley (NYSE: MS - news) has cut its rating on the jeweller to 'equal weight' from 'overweight'. 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........................... 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