July 13, 2017 / 4:02 AM / 15 days ago

Italy - Factors to watch on July 13

6 Min Read

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

The European Commission signalled on Wednesday it may again grant Italy some flexibility around its deficit-cutting commitments for next year but warned that the national debt must fall, an official letter showed.

The Italian government won a parliamentary vote of confidence on Wednesday on its plan to wind down two troubled local banks in the northern Veneto region.

Milan, news conference to present 2017 ICE trade institute's report "Italy in the International Economy" with ISTAT President Giorgio Alleva, (0830 GMT); followed by round-table discussion with Lamborghini Chairman and CEO Stefano Domenicali, state lender Cassa Depositi e Prestiti CEO Fabio Gallia.

Debt

Treasury sells 2.25-2.75 billion euros 0.35 percent BTP bonds due June 15, 2020; 2.0-2.5 billion euros 1.85 percent BTP bonds due May 15, 2024; 1.5-2.0 billion euros following two BTP bonds: 2.45 percent due Sept. 1, 2033 and 4.0 percent due Feb. 1, 2037. Subscriptions close at 0900 GMT.

Companies (*) Telecom Italia, Mediaset

The group's top shareholder Vivendi insists on giving its manager Amos Genish an executive role inside Telecom Italia, reducing the power of the CEO of the Italian group Flavio Cattaneo, Il Sole 24 Ore reported on Thursday.

Cattaneo will soon fly to Paris to talk with Vivendi's top executives, Il Corriere della Sera reported, adding the French media group is mulling to appoint Genish as director general. According to Il Corriere della Sera, the tensions between Cattaneo and Vivendi emerged after Telecom Italian failed to cooperate with broadcaster Mediaset on tenders for Italian soccer TV rights.

Telecom Italia's committee for appointments could hold a meeting by the end of the month to discuss the tensions emerged between Vivendi and the CEO of the Italian group, said La Repubblica, adding Vivendi's Vincent Bollore intends to give executive powers to Genish.

Generali

The Italian insurer has put its 44 billion euro ($50 billion) German life insurance portfolio up for sale as it restructures in Europe, sources close to the matter said. "A sale of certain portfolios within the German perimeter could be just one of several strategic options we said we would evaluate," a Generali spokesman said on Wednesday.

Monte Dei Paschi Di Siena

Rating agency Moody's upgraded on Wednesday the lender's long-term deposit rating to B1 from B2, outlook stable, and confirmed its long-term senior unsecured rating at B3.

(*) Banca Carige

The bank has put on the block a building in the centre of Milan, which has an estimated value of 100 million euros, Il Corriere della Sera said.

Saving shareholders' meeting (0830 GMT).

(*) Massimo Zanetti Group

The coffee company is interested in buying Genoa soccer club, according to MF.

Dobank

Italy's doBank said on Wednesday it set the price for its initial public offering at 9 euros per share, giving the Italian bad loan manager a market value of 704 million euros ($803 million), excluding treasury shares. (*) The group said on Thursday the demand from investors was 4.65 times the shares on offer in the IPO.

Brunello Cucinelli

Releases preliminary revenues on H1 results.

Erg

The group launched on Wednesday the issue and placement of a 100 mln euros non-convertible bond with institutional investors, in order to raise funds for new investments in the renewable energy sector and to refinance investments in hydroelectric plants in Italy.

Juventus f.c.

The club said on Wednesday it signed an agreement with FC Bayern Munchen for the temporary acquisition, until June 30, 2018, of player Douglas Costa de Souza for 6 million euros.

Intek Group

Saving shareholders' meeting (1300 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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