Italian stocks – Factors to watch on Dec 1

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 (*).

DEBT CRISIS

Prime Minister Mario Monti pledged measures on Wednesday to ensure that Italy meets its goal of balancing the budget even if economic prospects worsen, and said no approach for help had been made to the International Monetary Fund.

European Union finance ministers expect the European Central Bank to step in forcefully to calm bond markets if EU leaders agree to move towards fiscal union at a summit on Dec, 9, the Polish EU presidency said on Wednesday.

* FINMECCANICA

Guido Venturoni, a veteran board member of Finmeccanica, said in an interview with il Corriere della Sera on Thursday that if asked he would accept to replace Pier Francesco Guarguaglini as chairman of the defence group but for a short period of time.

Chairman Pier Francesco Guarguaglini could resign as early as this week over a corruption probe that has engulfed the Italian defence company and exposed a boardroom power struggle, senior company, and political sources said.

BANCA POPOLARE EMILIA ROMAGNA

The bank said on Wednesday it saw a positive contribution of 59.8 million euros to its 2011 consolidated result from release of deferred tax credits. The accounting move will also result in a positive effect of around 13 basis points on its Core Tier 1 Ratio, the bank said.

UNIPOL

The insurer said on Wednesday an accounting operation on deferred tax credits will have an impact of 8 percentage points on its solvency margin. * EDISON

Italian regional utility A2A, which leads the groups of core Italian investors in Edison, said it had agreed with France’s EDF to extend a shareholder pact to Dec 30, delaying the restructuring of Italy’s second largest producer.

* LUXOTTICA

Italy’s Luxottica, the world’s No. 1 eyewear maker said it had signed a deal to buy 100 percent of Brazilian eyewear group Tecnol, which has an enterprise value of around 110 million euros, the company said in a statement on Thursday.

* TELECOM ITALIA MEDIA Businessman Tarak Ben Ammar said in an interview with MF newspaper on Thursday that he had no intention to launch an offer for the Italian media company and its La7 TV channel.

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