|
(AFX UK Focus)
2009-11-26 07:59
Italian Stocks - Factors to watch on Nov 26 |
|---|
| Article layout: raw |
|
MILAN, Nov 26 (Reuters) - The following factors could affect Italian markets on Thursday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
FIAT The car maker has enough liquidity to pay debt expiring in 2010 and well beyond, Il Messaggero and La Stampa said, citing Chief Executive Sergio Marchionne at a presentation to investors in London. Marchionne confirmed 2009 targets.
FERRERO The Hershey Trust, the charitable trust that is the major shareholder of Hershey Co, has sought the approval of the Pennsylvania attorney general for a potential $17 billion bid for British confectioner Cadbury, the Wall Street Journal said. Italy's Ferrero and Hershey have said they are considering making bids for Cadbury. A Cadbury workers union met on Wednesday with U.S. suitor Kraft Foods to discuss jobs, pensions and working conditions, said a union official.
ENEL Enel has named Banca IMI, BNP Paribas and UniCredit joint global coordinators for its planned retail bond, Il Messaggero said without citing sources. The banks are mulling an operation of 1.5 billion to 2 billion euros, it said. This month, Enel's top executive said the retail bond would be launched at the start of 2010. Morgan Stanley rates the power company among "least preferred" in the European utilities sector.
UBI BANCA The bank foresees growth in net interest income and commissions next year, Chief Executive Victor Massiah said in a Bloomberg interview carried by Finanza & Mercati. Fourth-quarter profit is foreseen in line with that of the third quarter.
SNAM RETE GAS Morgan Stanley rates the gas network operator among "top picks" in the European utilities sector.
A2A Morgan Stanley rates the regional power company among "top picks" in the European utilities sector.
BUZZI UNICEM ING starts coverage of the cement maker with a "hold" rating. Goldman Sachs cuts its rating to "sell" from "neutral".
ITALCEMENTI ING starts coverage of the cement maker with a "hold" rating. Goldman Sachs raises its rating to "neutral" from "sell". * BANCA POPOLARE DI MILANO Nomura raised its rating on the cooperative bank to "buy" from "reduce". * MEDIASET Spanish phone company Telefonica said it had agreed to buy 21 percent of Digital+, the pay television business of indebted media group Prisa. Expansion reported the deal still left the way open for Mediaset to join Digital+ shareholders, citing sector sources.
SMALL AND MID CAPS
IRIDE, ENIA A merger between the two utilities should be cleared by year-end despite hurdles that threatened to derail it, Iride's chairman said.
PIAGGIO The scooter maker said it was looking at issuing a high-yield bond.
SNAI The gaming company has been contacted by a private equity fund but has received no binding offer. A source close to the issue said Bridgepoint, an international private equity firm, was in touch with Snai. Bridgepoint had no comment.
IT HOLDING
An industrial plan for the fashion group, now in
administration, will be ready in about 10 days, Il Sole 24 Ore
said, citing sources close to the issue. The plan foresees
layoffs of about 40 percent of the workforce, it said.
(Milan newsroom, +39 02 6612 9507, fax +39 02 801149, milan.newsroom@news.reuters.com)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. |
| Stocks |
| Article layout: raw |
|