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(AFX UK Focus)
2009-11-25 07:25
Italian Stocks - Factors to watch on Nov 25 |
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MILAN, Nov 25 (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 (*). * BANCA MONTE DEI PASCHI DI SIENA The bank will sell 80-85 of the 135 branches it has to sell for antitrust reasons, Il Sole 24 Ore said without citing sources. Intesa Sanpaolo has agreed to buy 50 branches at an average price of 4 million euros each and a binding offer will arrive at the beginning of next week, it said. Credit Agricole unit Cariparma is favourite over Barclays to buy another batch of 30-35 branches. At the end of the year Monte Paschi will have raised 420 million euros from branch sales, the paper said. The other branches will be sold in 2010. * INTESA SANPAOLO Giovanni Bazoli, chairman of the bank's supervisory board, is confident of finding a shared solution for the nomination of a director general, Corriere della Sera quoted him as saying.
ENEL Italy's biggest renewable energy company, Enel Green Power, said it planned to develop more than 4,000 megawatts of U.S. wind projects after buying a minority stake in Minnesota-based Geronimo Wind Energy.
FIAT Brazil was expected to announce on Tuesday the renewal of industrial tax breaks on more environmentally friendly vehicles, a government source told Reuters. * ENI Investment fund Knight Vinke, which directly owns 1 percent of Eni, said in a letter on Tuesday that Eni's financial gearing has been stretched further by its recent Uganda acquisition. It estimates Eni is facing investments of over 100 billion euros, noting it recently cut dividends to protect its credit rating.
UNICREDIT The bank priced a 750 million euro perpetual bond.
FASHION SECTOR Revenues for the Italian clothing, textile and fashion sectors are expected to drop 16 percent this year to 45 billion euros, according to Sistema Moda Italiana.
SMALL AND MID CAPS * PIAGGIO The company has mandated JP Morgan and Banca IMI to study issuing a high-yield bond of around 100-150 million euros, Il Sole 24 Ore said, citing market rumours. * ANSALDO STS The group is in talks to participate in the DesertXpress high-speed train project linking Las Vegas and California, the company's CEO Sergio De Luca told Il Sole 24 Ore in an interview. He said the company had received orders in the U.S. in the first nine months for $220 million.
TOD'S The luxury shoe maker does not rule out outperforming the shoe market in the next few years, Chairman and Chief Executive Diego Della Valle said. He also reiterated that he expected to close 2009 "very well". * Della Valle also said his family holding's stake in U.S. department store chain Saks was only a financial investment.
IT HOLDING
The Athena consortium of creditors is still interested in
the Ittierre unit of Italian fashion group IT Holding,
the consortium's chairman, Davide Colangelo, said on Tuesday.
Ittierre and IT Holding were placed in administration in
February. Colangelo said the consortium was waiting to know the
position of the Industry Ministry.
(Milan newsroom, +39 02 6612 9507, fax +39 02 801149, milan.newsroom@news.reuters.com)
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