Monday January 26, 07:01 AM
CORRECTED-Italian Stocks - Factors to watch on Jan 26
MILAN, Jan 26 (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 (*).
FIAT (Milan: F.MI
- news)
UniCredit Chief Executive Alessandro Profumo said
it was 'important to stand by Fiat,' when asked about a possible
credit line of around 1 billion euros for the car maker at a
conference on Saturday, news agency ANSA reported.
* A right-wing cabinet minister said there would be a
popular revolt if Fiat was given government help, ahead of talks
with the auto sector this week.
The viability of Chrysler, the U.S. carmaker which has just
agreed an alliance with Fiat, hinges on winning $3 billion of
additional government aid and cost savings through concessions
by creditors and employees, Chief Executive Bob Nardelli said on
Friday. He called Chrysler's proposed alliance with Fiat a key
step along its path to proving to lawmakers the car company can
be viable.
Fiat has extended some plant closures in Italy into March.
TELECOM ITALIA (Milan: TIT.MI - news)
Telco, the phone company's controlling shareholder group,
has secured an extension to the end of 2009 for 1.1 billion
euros in financing that expired on Friday, Il Messaggero
reported. The financing was from banks Mediobanca (Milan: MB.MI - news) and
Intesa Sanpaolo (Milan: ISP.MI - news) , both Telco members, it said.
Telco's board is likely to meet on Thursday to consider
Brazil's decision it must buy out minorities in Telecom Italia's
mobile phone unit TIM Participacoes (TCSL3.SA - news) , Il Messaggero
and La Stampa newspapers said on Sunday.
UNICREDIT (Milan: UCG.MI - news)
The bank (NASDAQ: TBHS - news) 's three main shareholder foundations have asked the
Economy Ministry for approval to subscribe to UniCredit's
convertible bonds under a 3 billion euro euro capital hike, Il
Sole 24 Ore reported on Saturday. The bonds, called CASHES,
would be available following a rights issue that ended on
Friday. The foundations have already reserved a total of 1.3
billion euros in CASHES, Il Sole 24 Ore (Milan: S24.MI - news) said.
ENEL (Milan: ENEL.MI - news) , TERNA (Milan: TRN.MI - news)
Italy's energy regulator AEEG has launched a probe into
pricing on the Italian power market, especially in Sicily where
prices have been well above the national mean, AEEG said on
Friday.
Enel could agree as early as Monday a syndicated loan of 8
billion euros it would use to help it buy a further 25 percent
stake in Endesa (Madrid: ELE.MC - news) , La Stampa said on Sunday.
BANCA POPOLARE DI MILANO (Milan: PMI.MI - news)
The cooperative bank sees its fourth-quarter net profit in
line with the rest of 2008 and could pay out a dividend,
Director General Fiorenzo Dalu was quoted as saying in an
interview published on Saturday.
Pop Milano is 'looking very carefully' at the conditions
attached to the government's plan to support banks, Chairman
Roberto Mazzotta said at a conference on Saturday, news agency
ANSA reported. He said the bank had 'very recently' received the
documentation from the government. Mazzotta added that 'nobody
can ask us to suspend dividend payments.'
Pop Milano concluded its buyout of asset manager Anima SGR (Milan: ANM.MI - news) on Friday holding about 94 percent of shares.
SEAT PAGINE GIALLE (Milan: PG.MI - news)
A $4 billion debt burden and uncertainty over the directory
market are expected to hurt demand for the company's planned
rights issue, forcing Mediobanca to take on a bigger
stake.
SMALL AND MID-CAP COMPANIES
TISCALI (Milan: TIS.MI - news)
Management & Capitali has cut its stake in the
broadband provider below 2 percent, it said in a statement on
Saturday. On Sept. 30, bourse regulator Consob said the fund had
6.9 percent of Tiscali (TIS.MDD - news) .
Tiscali will weigh possible moves against U.S. bank
Citigroup Inc (NYSE: C - news) . over a cut in its price target that helped
push the stock sharply lower, the Internet service provider said
on Friday.
RCS MEDIAGROUP
Investor Giuseppe Rotelli could be tempted to sell his 10.9
percent stake in the company, publisher of daily Corriere della
Sera, la Repubblica reported on Saturday.
BENI STABILI (Milan: BNS.MI - news)
The real estate firm should see steady revenues in 2008 and
operating profit should be up 8 percent on comparable terms, Il
Sole 24 Ore said in its Sunday 'Letter to the Investor' article.
For Italian market data and news, click on codes in brackeths: 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 (news) ............... 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 (GLCE.PK - news) : Equities............... Main currency report:...............................
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