July 14, 2017 / 4:00 AM / a month ago

Italy - Factors to watch on July 14

The following factors could affect Italian markets on Friday.

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

Ratings agency DBRS reviews Italy's sovereign debt rating.

Reuters releases quarterly poll on Italian economy (0630 GMT).

ISTAT releases June final CPI and HICP data (0800 GMT) and May foreign trade data (0900 GMT).

COMPANIES

INTESA SANPAOLO

Italy's biggest retail bank has signed an accord with trade unions to cut part of the staff of the two Veneto banks it took over earlier this month through early retirements, the UILCA labour union said on Thursday . The agreement also lays the groundwork for the layoff of 3,000 Intesa Sanpaolo workers.

(*) CREDITO VALTELLINESE

The lender said on Thursday it closed the sale of a non-performing loan portfolio worth 1.4 billion euros through a securitisation and the use of a state-guarantee on the senior tranches. The sale has an overall negative impact of approximately 120 basis points on the lender's CET1 ratio.

The sale is estimated at a price of 34.5 percent the gross value of the portfolio, Il Sole 24 Ore.

DOBANK

Shares in the Italian debt collector start trading on the Milan bourse following an initial public offering that valued the company at 704 million euros.

(*) ENI

Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015 after the Trump administration this week approved a drilling plan on leases the company has been sitting on for 10 years.

Production at the group's Italian Val d'Agri field will restart as early as July 19 after a green light by the Basilicata regional authorities, reported Il Sole 24 Ore.

(*) ENI, ENEL

Asked whether he would be open to a cooperation with Enel in Africa over renewable energy, ENI CEO Claudio Desclazi said the group would be available to review projects "with anyone, also with Enel", speaking in an interview with La Stampa. Descalzi added that there were, however, "ties".

(*) FIAT CHRYSLER

European car sales edged up 2.1 percent in June, with Fiat Chrysler and Toyota posting strong gains amid mixed signals from the region's top five markets, according to industry data published on Friday. In June, Fiat sales in Europe were up 7.9 percent, the second biggest monthly rise after Toyota.

(*) TELECOM ITALIA

Main shareholder Vivendi is not likely to give a no confidence vote to CEO Flavio Cattaneo on the day of the July 27 board, reported Il Sole 24 Ore. But lacking an agreement with the CEO, the only way for the French to bring into the company its own manager Amos Genish would be to appoint him as senior advisor to the group's chairman, the report added.

(*) MEDIASET

Banker Ennio Doris, long-time friend of former prime minister Silvio Berlusconi, was key in a vote in June allowing a buyback programme of up to 10 percent of the group's Treasury shares, la Repubblica reported. It added that the vote went through thanks to Doris holding a 2.87 share in the TV group, given the vote required at least 10 percent of the company's minority shareholders and was voted by 12.5 percent of them, the report added.

(*) TELECOM ITALIA, MEDIASET

Telecom Italia's CEO Flavio Cattaneo could be poached by Mediaset to cover a position at the broadcaster's board, if he were to leave the phone group, la Repubblica reported.

(*) BRUNELLO CUCINELLI

The luxury group said on Thursday first-half preliminary revenues were up 9.7 percent at constant currencies and that like-for-like sales rose 4 percent in the first 26 weeks. Chairman and CEO Brunello Cucinelli confirmed a double-digit guidance, for both revenues and profitability, for 2017.

IVS GROUP

Pension fund Enasarco on Thursday launched an accelerated bookbuilding to place with investors a 3 percent stake in IVS. (*) Enasarco said on Friday that the accelerated bookbuilding for the sale of its stake was priced at 11.93 euros per share and that the total amount of the offering was equal to 14.3 million euros.

RCS

The publisher has sold 75 percent of its unit RCS Gaming to South African Sportpesa for "some million (euros)", reported MF.

AS ROMA

The Serie A football club said on Thursday Silva Duarte Mario Rui would be on loan to rival Napoli until June 30, 2018 for 3.75 million euros.

M&A

Ferrovie dello Stato said on Thursday its Busitalia bus unit had signed a preliminary accord to buy Dutch rival Qbuzz as the Italian rail group presses on with plans to expand abroad.

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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