European Market News

Monday March 23, 08:06 AM
Italian Stocks - Factors to watch on March 23

MILAN, March 23 (Reuters) - 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 (*). CAMPARI (Milan: CPR.MI - news) , ANSALDO STS (Milan: STS.MI - news) , CIR These companies join the S&P/MIB index. SEAT PAGINE GIALLE (Milan: PG.MI - news) , L'ESPRESSO and FASTWEB (Milan: FWB.MI - news) leave. BANKS The World Bank is talking to banks involved in eastern Europe to persuade them to hold on to their investments there, the institution's president Robert Zoellick told Corriere della Sera in an interview published on Sunday.. UniCredit (Milan: UCG.MI - news) said it was committed to the region. Intesa Sanpaolo (Milan: ISP.MI - news) confirmed it would seek 4 billion euros in state aid and said it would not pay shareholders anything on 2008 results. International Finance Corporation (IFC) bought 9.75 percent in Egypt's Bank of Alexandria, a subsidiary of Intesa Sanpaolo, for $197 million. FIAT (Milan: F.MI - news) U.S. car maker Chrysler LLC said Fiat would not assume any of its debt under a proposed alliance between them, backing down from a claim it had made just a day earlier. Chrysler's aid request to the U.S. government could rise considerably, a top adviser to President Barack Obama's auto task force told Bloomberg Television. Fiat's new partner in China could be Guangzhou Automobile Industry Group (GAIG) after Chery Automobile Co said on Thursday it had delayed its joint venture with the Italian car maker, Il Sole 24 Ore said on Saturday. Fiat Chief Executive Sergio Marchionne said in September GAIG was one of a number of potential partners it was in talks with. ENERGY, UTILITIES Domestic gas prices could fall by 8 percent and electricity tariffs by 7 percent from April 1, according to research body RIE. The new tariffs for the second quarter will be set shortly by regulators. SNAM RETE GAS (Milan: SRG.MI - news) The gas network operator should see revenues of 3 billion euros in 2009 and earnings before interest, tax, depreciation and amortisation (EBITDA) of 2.3 billion euros, up 50 percent after its purchase of units from parent Eni (Milan: ENI.MI - news) , Il Sole (Milan: S24.MI - news) 24 Ore says on Sunday in its 'Letter to the Investor' column. SAIPEM (Milan: SPM.MI - news) Algeria's Sonatrach and Canadian partner First Calgary Petroleum signed an energy infrastructure deal worth $1.85 billion with Saipem. TELECOMS 3 Italia, owned by Hutchison Whampoa (0013.HK - news) , denied in a statement a report in Corriere della Sera on Saturday that it could be broken up between other operators in the country. Corriere della Sera said Telecom Italia (Milan: TIT.MI - news) could offer Hutchison Whampoa shares in return for a slice of 3 Italia. Last November, 3 Italia Chief Executive Vincenzo Novari said the companies had held talks on a merger but they could not agree on price. GENERALI The insurer has set aside its expansion plans for the United States and said it plans to offer shares as part of its payout on 2008 results. ATLANTIA The toll-road operator pared back its dividend growth policy and warned of weaker margins in 2009. SEAT PAGINE GIALLE Outgoing Chief Executive Luca Majocchi said the group had not received any approach for its Thomson Directories business in the UK, in an interview with the Financial Times published on Saturday. He said its German directories business, Telegate (Xetra: 511880 - news) , had received several 'irrational' offers and was expected to fetch over 100 million euros. Majocchi reiterated that the company's planned capital raising is for investment in online operations. LOTTOMATICA Its U.S. unit GTech has been chosen as preferred bidder for a contract with the New York Lottery, it said in a statement on Sunday. Expected revenues could be over $550 million in the seven-year contract term, which should start in March 2010. SMALL AND MID-CAPS SARAS (Milan: SRS.MI - news) The refiner will focus on its core business in Italy and is not interested in distribution networks, Deputy Chairman Angelo Moratti told Corriere della Sera in an interview on Sunday. 'I think internal growth has an advantage: it allows you greater control over development and it's sustainable long-term,' Moratti said. He added that he was expecting oil prices of around $60-80 per barrel this year, assuming U.S. economic growth of around 1-2 percent. TISCALI (Milan: TIS.MI - news) Founder Renato Soru, returning to the board after several years out of it in politics, told Il Sole 24 Ore newspaper he had thought of selling the company. Soru, who holds 20.1 percent, told the newspaper he had bought newspaper L'Unita 'I was convinced at that point that I would shortly sell Tiscali (TIS.MDD - news) .' * SAFILO (Milan: SFL.MI - news) Private equity funds Apax, Bain, CVC and PAI -- said to be interested in investing in Safilo -- are said to have begun due diligence, Corriere della Sera said without citing sources. The Tabacchi family would want to keep the chairmanship and would want a deal that allows it to buy back shares, it added citing 'some sources'. COBRA (Milan: COB.MI - news) The company sees the growing number of subscribers to its stolen vehicle recovery service helping to keep revenues growing, however slightly, this year. IL SOLE 24 ORE The publisher of Italy's leading business daily said it expected a drop in operating profits this year. It said in a statement on Friday the first quarter was 'harsh,' with a sharp decline generally in advertising sales for print media. But it added that cost-cutting measures should help. COMPANY RESULTS The following companies are among those holding board meetings on results: PININFARINA (Milan: PINF.MI - news) , ANIMA 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........................ 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