Skip navigation
Newswire

Italy - Factors to watch on July 31

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 (*).

POLITICS

Italy's supreme court on Tuesday began hearing Silvio Berlusconi's last appeal against a jail sentence and ban from public office in a case which could endanger the country's shaky coalition government if the conviction is confirmed.

ECONOMY

Statistics institute ISTAT releases June unemployment data, July flash CPI and HICP data, June industrial producer prices.

Reuters releases July asset allocation.

BONDS

Italian government bonds firmed on Tuesday after a smooth debt auction that defied political uncertainty as a court considered whether former premier Silvio Berlusconi should be jailed.

COMPANIES * FIAT

Fiat won a partial victory on Tuesday in its path to a full buyout of Chrysler after a U.S. judge accepted the Italian carmaker's legal positions in two pivotal disputes with an autoworkers' health-care trust that is a minority Chrysler shareholder.

Fiat's U.S. unit Chrysler, which generates most of the group's net profit, lowered its outlook as it struggled to fill orders due to parts shortages, hitting the Italian automaker's shares.

Fiat said on Tuesday it is preparing the filings for an initial public offering for its Chrysler unit and could submit the filings by the end of the year.

* TELECOM ITALIA

Telecom Italia's Chief Executive Franco Bernabe may discuss a capital hike for the company during in a gathering with the main shareholders scheduled for Wednesday, ahead of a board meeting of Thursday, daily Il Messaggero reported on Wednesday.

* FINMECCANICA

Finmeccanica's unit AgustaWestland will not present any bid to supply helicopters to the U.S. Administration, daily Sole 24 Ore reported on Wednesday. * BANCA CARIGE, POP EMILIA ROMAGNA,

VENETO BANCA, BANCA MARCHE, BANCA ETRURIA

The five mid-tier lenders were the targets of in-depth inspections carried out by Italy's central bank, daily Milano Finanza reported on Wednesday.

* RISANAMENTO

The board of the Italian property developer may give on Wednesday its greelight to a deal with real estate company Idea Fimit to sell its Santa Giulia redevelopment area, daily Corriere della Sera reported.

SAIPEM

Saipem appointed a corporate law veteran to its board on Tuesday as the Italian oil service group seeks to draw a line under profit warnings and a corruption probe that have wiped out half its market worth.

* SNAM

Italian gas transport group Snam said on Wednesday its operating profits rose 0.7 percent in the first half as a strong performance in its storage and transport business offset lower gas demand.

ITALCEMENTI

The cement maker reported on Tuesday a 10.6 percent drop in first-half core earnings, hit by lower sales, and the group said it expected operating results for the second half to be in line with last year.

GEOX

The shoe maker plans to return to growth by closing unprofitable stores, pushing harder into emerging markets and cutting costs through layoffs and a reduced product offering, the company said on Tuesday.

MONDADORI

The book and magazine publisher said on Tuesday it expected a second-half gross operating profit in-line or even higher compared to a year ago, although the full-year 2013 results will be lower.

GTECH

The gaming group on Tuesday reported a 5.2 percent rise in second-quarter earnings, slightly above expectations, and reiterated its guidance for the full year.

BANCA MARCHE

The small lender denying on Tuesday press reports it was in talks with the Bank of Italy over solutions to a capital shortfall. The bank, in which larger peer Intesa Sanpaolo holds a 5.8 percent stake, said it would issue a statement following a board meeting on Thursday to discuss preliminary first-half data.

The following companies are expected to publish interim results on Wednesday:

A2A

ACEA

AUTOGRILL

BANCA CARIGE

BREMBO

ENEL GREEN POWER

FIAT INDUSTRIAL

FINMECCANICA

PARMALAT

RCS MEDIAGROUP

YOOX

SNAM.

For more details on today's events please see the full agenda, available in Italian.