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 (*).
ECONOMY
* The EU Commission is set to lift tight controls on Italy's public spending on Wednesday.
The Commission will also make several economic policy recommendations to Italy, asking Rome to reform its labour market and reduce taxation on labour and capital, several Italian newspapers said on Wednesday.
* Italy will have to revise its multi-year budget plan to take into account a worse than expected recession in 2013, Il Corriere della Sera reported on Wednesday. The government forecasts the economy will shrink by 1.1 percent in 2013.
BILL AUCTION AND ECONOMIC DATA
The Treasury sells 8.0 billion euros of 6-month BOTs, short-term bills (182 days). Subscriptions close at 0900 GMT.
ISTAT, May business confidence- 0800 GMT.
Paris-based international organisation OECD releases on Wednesday its updated forecasts for advanced economies.
COMPANIES
Cobra AGM- 0900 GMT.
Fintel Energia Group board meeting on FY results.
Italmobiliare AGM- 0830 GMT.
RCS MediaGroup board expected to hold meeting.
* GENERALI, BANCA GENERALI
The Italian insurer is considering the sale of a stake in its wealth management unit Banca Generali, Il Sole 24 Ore reported on Wednesday. The Italian daily said, however, that Generali had categorically denied this possibility.
* FINMECCANICA
Italy's Economy Ministry will propose delaying the appointment of two new board members at the defence group to replace ex-chairman Giuseppe Orsi, who was arrested in February over allegations of corruption linked to a helicopter contract in India, and Franco Bonferroni. The proposal will be made at a board meeting on Thursday, the ministry said on Tuesday.
* FIAT
The carmaker CEO Sergio Marchionne will meet Italy's Industry Minister Flavio Zanonato on Friday, il Sole 24 Ore said. Fiat could issue a convertible bond to raise financial resources to fund its purchase of the 41.5 percent stake in Chrysler owned by the VEBA healthcare trust fund, the daily said. It also said that VEBA may wait until a U.S. court ruling on the valuation of a 3 percent holding before striking a deal with Fiat on the price of its stake.
* BANCA MONTE DEI PASCHI
The troubled lender will present its restructuring plan to the EU Commission on June 17, Il Sole 24 Ore reported on Wednesday.
* BANCA POPOLARE DI VICENZA
The mid-tier lender has approved a capital hike worth 253 million euros and the issuance of a 253-million-euro convertible bond, Il Sole 24 Ore reported on Wednesday.
ENI
The oil and gas group has struck a deal to buy less gas from Algeria, part of its pledge to review most of its long-term gas contracts with suppliers this year in a bid to cope better with weak demand.
For more details on today's events please see the full agenda in Italian.
For Italian market data and news, click on codes in brackets:
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FTSE IT allshare index
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Block trades..........
Stories on Italy...... <IT-LEN>
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