VENICE, JUNE 7 -- President and Mrs. Reagan wound up today what the Italian press has been suggesting is a "second honeymoon" in a 17th-century villa near here and prepared to go their separate ways starting tomorrow.

The Reagans have behaved like honeymooners in at least one respect. The White House today released photos taken by the Reagans of each other with the Olympus camera the White House News Photographers Association gave Mrs. Reagan last month. Mrs. Reagan's picture of the president showed him standing in a garden beside a bronze and stone sculpture by American sculptor George D. O'Neill. In it Reagan is wearing brown slacks and a beige knit sports shirt.

The president's picture of Mrs. Reagan shows her standing in front of a carriage used by Giuseppe Verdi when he visited Villa Condulmer in the 1850s. She is wearing red pants and matching blouse with white collar and cuffs, red belt and pumps and a red sweater.

The White House said Verdi was invited by the villa's owners, the Tornellis, to visit Condulmer following the premiere of his opera "La Traviata." When the carriage arrived, a wheel fell off and Verdi stayed on for four months.

Both photos bore an official credit line, proving the White House PR people know a real photo opportunity when it falls in their laps. In Mrs. Reagan's case, "The White House -- Nancy Reagan"; in the president's, "The White House -- President Reagan."

While Reagan spends Monday through Wednesday at the economic summit with six foreign leaders, Mrs. Reagan will be in Stockholm taking a look at two Swedish projects to curb drug abuse. One is a treatment center for pregnant women; the other involves Swedish entertainers who have organized against drugs.

"She always likes to learn what other countries are doing and share with them what we've done in the United States," Elaine Crispen, the first lady's press secretary, said today.

The first lady's host will be Gertrude Sigurdsen, Sweden's minister of health and social affairs. She will also attend an antidrug forum with Queen Silvia.

In addition, she is scheduled to meet with Ingrid Carlsson, the wife of Sweden's Prime Minister Ingvar Carlsson, and with Lisbet Palme, the widow of his predecessor Olof Palme.

Here in Italy, the pace has been considerably more relaxed as the Reagans took it easy at Villa Condulmer, interrupting their stay only to visit Pope John Paul II yesterday.

Italian newspapers have had a field day describing the Reagans' activities as reported by their correspondents, including one identified only as "Angelo the gardener."

According to these reports, the Reagans have been sleeping late, smiling a lot at each other, holding hands during strolls in the garden and sipping consomme' before going to bed at night.

The mass-circulation Rome daily Il Messaggero said the Reagans started their day with long showers and massages, and beauty treatments for the first lady.

The conservative Bologna daily Il Resto del Carlino and its sister paper in Florence, La Nazione, both reported that the first lady phoned shoemaker Rene Caovilla in Venice, where she had ordered a pair of high-heeled shoes last year on the advice of Anna Craxi, wife of former prime minister Bettino Craxi.

Asked about the reports, Crispen said Mrs. Reagan said the stay has seemed like a second honeymoon.

"Parts of {the stories} are very romantic and interesting, like the Italians, but I don't think there is any way to confirm all the facts," Crispen said.