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Italy - Factors to watch on April 20
April 20, 2017 / 4:02 AM / 5 months ago

Italy - Factors to watch on April 20

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 (*).

For a complete list of diary events in Italy please click on .

ECONOMY

Market regulator Consob President Giuseppe Vegas speaks before Chamber of Deputies Foreign Affairs Committee (0630 GMT).

DEBT

Treasury announces sale of six-month BOT bills, with relative amounts to be auctioned on April 26.

Italy’s Treasury said on Wednesday it would offer 5- and 15-year linkers at an auction on Monday.

COMPANIES

Bourse After Hours market closed.

MEDIASET

The Italian private broadcaster would have broken even last year had it not been for the failed sale of its pay-TV unit Premium to France’s Vivendi, the group’s CEO Pier Silvio Berlusconi said on Wednesday.

Mediaset said the failed sale of its pay-TV unit Premium to France’s Vivendi hit the group’s 2016 accounts by 341.3 million euros ($365 million).

The company sees 2017 pay-TV unit revenues at between 630-640 million euros, its CFO said.

(*) Vivendi could decide to freeze part of its Mediaset stake by transferring a 18.8 percent holding to a trust, MF reported citing industrial and advisory sources.

TELECOM ITALIA

Telecom Italia shareholders should not support board candidates proposed by Vivendi, two advisory firms said, potentially dealing a fresh blow to Vivendi chairman Vincent Bollore’s attempts to build a southern European media empire.

BANCO BPM

Italy’s third-largest bank has short-listed Blackstone , Cerberus, Bain Capital Credit and Algebris for the sale of a 700-800 million-euro portfolio of bad loans backed by real estate assets including some hotels, Il Sole 24 Ore reported.

UNICREDIT

Italy’s biggest bank said on Thursday Luca Cordero di Montezemolo was stepping down from his role as deputy chairman ahead of Thursday’s annual general meeting. The move brings forward a planned governance change by cutting the number of deputy chairmen to one.

ATLANTIA

Chinese conglomerate HNA approached Spain’s Abertis in recent months with a proposal alternative to the one put forward by Italy’s Atlantia, Il Sole 24 Ore reported.

A potential tender offer by Atlantia on Abertis shares could be launched at a price of 16 euros, Corriere della Sera reported citing the Spanish press.

BANKS

Italy’s FITD deposit guarantee fund approved on Wednesday a 420 million-euro capital injection into Carim and San Miniato which will pave the way for a takeover of the two ailing banks, as well as of rival lender CariCesena, by Credit Agricole’s Italian unit Cariparma, Il Sole 24 Ore reported.

(*) Carim Chairman Sido Bonfatti told MF in an interview that an exclusive due diligence phase granted to private equity firm JC Flowers would last until mid-May. Bonfatti said an offer by a rival banking group such as Cariparma was better than a private equity investment but added that San Miniato had yet to pick its preferred bidder.

(*) CREDITO VALTELLINESE

The Italian bank has asked advisers Equita and KPMG to look for a insurance partner and Cattolica Assicurazioni would be interested, MF reported.

ITALMOBILIARE

CEO Carlo Pesenti said on Wednesday his family’s holding company was looking for a “big acquisition” but would not invest in infrastructure or in the publishing and financial sectors given excessively high multiples, Il Sole 24 Ore reported.

(*) Italmobiliare is interested in the energy sector and around six months ago briefly considered a possible investment in Edison, Pesenti was quoted as saying in Corriere della Sera.

BRUNELLO CUCINELLI

Annual general meeting (0800 GMT)

MONCLER

Annual general meeting (0900 GMT)

SAIPEM

Board meeting on Q1 results, press release on April 21.

SALVATORE FERRAGAMO

The luxury good group said on Wednesday deputy general manager Massimo Barzaghi would leave the company as of July 31, 2017.

BANCA GENERALI

Annual general meeting (0730 GMT).

BREMBO

Annual and extraordinary shareholders’ meetings (0830 GMT).

EI TOWERS

Annual general meeting (0900 GMT).

ERG

Annual general meeting (0830 GMT).

GEOX

Annual general meeting (0800 GMT).

INWIT

Annual general meeting (1300 GMT).

SARAS

Annual and extraordinary shareholders’ meetings (0830 GMT).

UNIPOL

News conference to present Unipol’s initiative in support of earthquake victims in central Italy, with Chairman Pierluigi Stefanini, CEO Carlo Cimbri (1000 GMT).

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...... IT-LEN

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:...............................

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