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CORRECTED-(OFFICIAL)-Italian Stocks - Factors to watch on Nov 3
Tue, 3rd Nov 2009 10:39
MILAN, Nov 3 (Reuters) - The following factors could affect
Italian markets on Tuesday.
Reuters has not verified the newspaper reports, and cannot
vouch for their accuracy. New items are marked with (*).
FIAT
Registrations for cars from Fiat's three brands rose an
annual 15.1 percent in October to 63,716 units while its market
share for the month was 32.58 percent from 31.52 percent in
September. Italy's new car sales in the month rose 15.69 percent
to 195,545 units.
Italian new car orders in October were around 202,000, up 15
percent on the year, car makers' group UNRAE said.
Survival of Chrysler, in which Fiat holds a 20 percent
stake, is far from certain and time is short for Fiat to roll
out the new products the U.S. automaker needs to win back
customers and dealers.
Chrysler ought to produce 3 million vehicles in 2014 and be
in profit in 2011, according to its business plan due on
Wednesday, Corriere della Sera said in an unsourced report.
Fiat should launch its 500 model in the United States in the
second half of 2011, La Stampa said without citing sources.
Chrysler also could be relisted in 2011 and 2012 should mark
production of cars using Fiat technology in Chrysler's U.S.
plants, it said. Dodge models will be gradually replaced, except
for Charger and Challenger.
Italy will take a decision before the end of November on
whether and how to extend car incentives, Industry Minister
Claudio Scajola said in a note on Monday.
U.S. auto sales are likely to remain flat in 2010, former
General Motors Co Director Jerry York said on Monday.
* Fiat's Ferrari luxury car unit expects China to become one
of its top five global markets in five years due to the growing
ranks of wealthy Chinese, an executive said.
UBS raised its target on Fiat to 12 euros from 10 euros,
rating 'buy'.
INTESA SANPAOLO
The bank's chief executive, Corrado Passera, confirmed
guidance for 2009 provided at the beginning of the year. At that
time the bank forecast a solid net profit, albeit below that of
2008, which could be distributed by way of dividend.
The bank's management board chairman, Enrico Salza, said
rumours of a new managing director being appointed to flank
Passera were unfounded.
ENI
Russia's gas giant Gazprom and Eni back plans for
France's utility EDF to join their South Stream gas
pipeline project to bring Russia's gas to Europe, a Gazprom
executive said.
BP and Eni have found 2 trillion cubic feet of gas,
half of what is needed to start up a new liquefied natural gas
train, an executive
of state-owned Egyptian Natural Gas Holding
Co said on Monday.
UNICREDIT
The bank's strategic committee will start looking at plans
on Tuesday to simplify the organisational structure of the bank,
a source close to the situation said.
The bank's reorganisation plan could put at risk 7,000 jobs,
la Repubblica said, citing trade union sources. The newspaper
said the bank did not confirm the estimate.
FINMECCANICA
The metropolitan transport authority of Los Angeles has
broken off talks with Finmeccanica unit AnsaldoBreda on a $300
million contract to supply rolling stock for a light railway, MF
said, citing AnsaldoBreda.
ENEL
The power company's Spanish unit, Endesa, posted
nine-month core profit of 5.8 billion euros, up 6.8 percent.
SAIPEM
Morgan Stanley raised to 'overweight' from 'equal weight'.
BANCA MONTE DEI PASCHI DI SIENA
Deutsche Bank raised its rating on the bank to 'hold' from
'sell'.
MEDIA
Newspaper advertising sales are down 23 percent in the first
nine months of the year while advertising on the Internet is up
5 percent in the same period, La Stampa said, citing data from
the FCP advertising industry body.
TAX AMNESTY
Funds repatriated to Italy are close to reaching 50 billion
euros and can reach the 80-100 billion euros targeted by the
government by the Dec. 15 tax amnesty deadline, MF said in an
unsourced report.
SMALL AND MID CAPS
MAIRE TECNIMONT
The engineering company said on Monday a unit had won a new
contract to develop licensing and technology in the urea sector
in Abu Dhabi.
The engineering group plans to diversify into building
nuclear power plants via an agreement with Toshiba Corp
unit Westinghouse and Finmeccanica unit Ansaldo
Nucleare, MF said citing Maire's chairman.
CAMFIN
The holding company's majority shareholder GPI and creditor
bank Calyon, a unit of France's Credit Agricole,
differ over the plan to restructure Camfin's debt, Il Messaggero
reported without citing sources. Camfin controls industrial
group Pirelli & C.
MARIELLA BURANI FASHION GROUP
South Korea's E.Land Group has sent a rescue proposal to the
Italian fashion group that is looking for capital to fund a debt
and business restructuring plan, MF said in an unsourced report.
For Italian market data and news, click on codes in brackets: 20 biggest gainers (in percentage)............ 20 biggest losers (in percentage)............. FTSE IT allshare index FTSE Mib index........ FTSE Allstars index... FTSE Mid Cap 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............... Wall Street report ..... Nikkei 225............. 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: Equities............... Main currency report:............................... Keywords: ITALY MARKETS/FACTORS
(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.
Italian markets on Tuesday.
Reuters has not verified the newspaper reports, and cannot
vouch for their accuracy. New items are marked with (*).
FIAT
Registrations for cars from Fiat's three brands rose an
annual 15.1 percent in October to 63,716 units while its market
share for the month was 32.58 percent from 31.52 percent in
September. Italy's new car sales in the month rose 15.69 percent
to 195,545 units.
Italian new car orders in October were around 202,000, up 15
percent on the year, car makers' group UNRAE said.
Survival of Chrysler, in which Fiat holds a 20 percent
stake, is far from certain and time is short for Fiat to roll
out the new products the U.S. automaker needs to win back
customers and dealers.
Chrysler ought to produce 3 million vehicles in 2014 and be
in profit in 2011, according to its business plan due on
Wednesday, Corriere della Sera said in an unsourced report.
Fiat should launch its 500 model in the United States in the
second half of 2011, La Stampa said without citing sources.
Chrysler also could be relisted in 2011 and 2012 should mark
production of cars using Fiat technology in Chrysler's U.S.
plants, it said. Dodge models will be gradually replaced, except
for Charger and Challenger.
Italy will take a decision before the end of November on
whether and how to extend car incentives, Industry Minister
Claudio Scajola said in a note on Monday.
U.S. auto sales are likely to remain flat in 2010, former
General Motors Co Director Jerry York said on Monday.
* Fiat's Ferrari luxury car unit expects China to become one
of its top five global markets in five years due to the growing
ranks of wealthy Chinese, an executive said.
UBS raised its target on Fiat to 12 euros from 10 euros,
rating 'buy'.
INTESA SANPAOLO
The bank's chief executive, Corrado Passera, confirmed
guidance for 2009 provided at the beginning of the year. At that
time the bank forecast a solid net profit, albeit below that of
2008, which could be distributed by way of dividend.
The bank's management board chairman, Enrico Salza, said
rumours of a new managing director being appointed to flank
Passera were unfounded.
ENI
Russia's gas giant Gazprom and Eni back plans for
France's utility EDF to join their South Stream gas
pipeline project to bring Russia's gas to Europe, a Gazprom
executive said.
BP and Eni have found 2 trillion cubic feet of gas,
half of what is needed to start up a new liquefied natural gas
train, an executive
Co said on Monday.
UNICREDIT
The bank's strategic committee will start looking at plans
on Tuesday to simplify the organisational structure of the bank,
a source close to the situation said.
The bank's reorganisation plan could put at risk 7,000 jobs,
la Repubblica said, citing trade union sources. The newspaper
said the bank did not confirm the estimate.
FINMECCANICA
The metropolitan transport authority of Los Angeles has
broken off talks with Finmeccanica unit AnsaldoBreda on a $300
million contract to supply rolling stock for a light railway, MF
said, citing AnsaldoBreda.
ENEL
The power company's Spanish unit, Endesa, posted
nine-month core profit of 5.8 billion euros, up 6.8 percent.
SAIPEM
Morgan Stanley raised to 'overweight' from 'equal weight'.
BANCA MONTE DEI PASCHI DI SIENA
Deutsche Bank raised its rating on the bank to 'hold' from
'sell'.
MEDIA
Newspaper advertising sales are down 23 percent in the first
nine months of the year while advertising on the Internet is up
5 percent in the same period, La Stampa said, citing data from
the FCP advertising industry body.
TAX AMNESTY
Funds repatriated to Italy are close to reaching 50 billion
euros and can reach the 80-100 billion euros targeted by the
government by the Dec. 15 tax amnesty deadline, MF said in an
unsourced report.
SMALL AND MID CAPS
MAIRE TECNIMONT
The engineering company said on Monday a unit had won a new
contract to develop licensing and technology in the urea sector
in Abu Dhabi.
The engineering group plans to diversify into building
nuclear power plants via an agreement with Toshiba Corp
unit Westinghouse and Finmeccanica unit Ansaldo
Nucleare, MF said citing Maire's chairman.
CAMFIN
The holding company's majority shareholder GPI and creditor
bank Calyon, a unit of France's Credit Agricole,
differ over the plan to restructure Camfin's debt, Il Messaggero
reported without citing sources. Camfin controls industrial
group Pirelli & C.
MARIELLA BURANI FASHION GROUP
South Korea's E.Land Group has sent a rescue proposal to the
Italian fashion group that is looking for capital to fund a debt
and business restructuring plan, MF said in an unsourced report.
For Italian market data and news, click on codes in brackets: 20 biggest gainers (in percentage)............ 20 biggest losers (in percentage)............. FTSE IT allshare index FTSE Mib index........ FTSE Allstars index... FTSE Mid Cap 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............... Wall Street report ..... Nikkei 225............. 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: Equities............... Main currency report:............................... Keywords: ITALY MARKETS/FACTORS
(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.
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