June 13, 2017 / 6:50 AM / a month ago

Italy - Factors to watch on June 13

5 Min Read

The following factors could affect Italian markets on Tuesday.

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 .

Politics

Italy's anti-establishment 5-Star Movement suffered a resounding defeat in local elections, results released on Monday showed, losing ground to traditional parties less than a year before a national vote is due.

Economy

Italy's economy will grow by 1.3 percent this year, the International Monetary Fund said on Monday, raising a previous projection of 0.8 percent thanks to a broader euro zone recovery and supportive fiscal and monetary policy.

Rome, Senate expected to vote mini-budget.

Bank of Italy releases April data on bank lending and domestic government bond holdings at Italy-based banks.

Rome, Economy Minister Pier Carlo Padoan attends assembly of joint stock companies association Assonime (0900 GMT).

Debt

Treasury sells 2.0-2.5 billion euros 0.35 percent BTP bonds due June 15, 2020 and 2.5-3.0 billion euros 1.85 percent BTP bonds due May 15, 2024. Subscriptions close at 0900 GMT.

Companies (*) Italian Banks, Banca Popolare Di Vicenza

It will likely take one week for the European authorities to decide whether they can give assurance to healthy Italian banks that a potential capital injection in Banca Popolare di Vicenza and Veneto Banca will be sufficient to unlock state aid, Il Sole 24 Ore said.

The European Commission is willing to reduce the amount of the private funds to be injected in the two Veneto banks before giving its green light to state aid for the lenders, Il Messaggero said, without mentioning the new request.

According to La Stampa the government is trying to get Brussels to reduce the size of the private fund injection the EU authorities had requested to 700-800 million euros from 1.2 billion euros.

Banca Popolare di Vicenza holds a board meeting.

(*) Banca Carige

The European Central Bank told the bank last Friday it had to present a plan to deal with its bad loans by June 23, Il Sole 24 Ore and MF said. Il Sole 24 Ore added advisers are suggesting Banca Carige to sell its soured loans completely.

Gabriele Delmonte, responsible for the bank's credits, is in pole position to be nominated director general, taking on on an interim basis the powers previously held by the CEO, La Stampa said.

(*) Monte Dei Paschi Di Siena

An agreement between the bank and investors over the sale of the lender's bad loans could be sealed at the end of June, Il Sole 24 Ore said, adding the parties are still discussing about the value of a portion of bad loans.

(*) Italmobiliare, Ovs

Holding company Italmobiliare is looking at a possible investment in high street retailer OVS, Il Messaggero said. A spokesman declined to comment on the report, adding Italmobiliare has many dossier on the table.

(*) Eni

Italian authorities will likely give their green light to Eni to restart production at Val d'Agri field in the coming week, Il Sole 24 Ore said.

Banca Carige

The regional lender said on Monday that three board members resigned due to their due to disagreement over the no-confidence vote against Chief Executive Guido Bastianini.

Avio

Prime Minister Paolo Gentiloni visits plant in Colleferro (0815 GMT).

digital360

Debuts on AIM segment; listing ceremony with CEO Andrea Rangone (0630 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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