June 21, 2017 / 4:02 AM / a month ago

Italy - Factors to watch on June 21

5 Min Read

The following factors could affect Italian markets on Wednesday.

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

Rome, Prime Minister Paolo Gentiloni speaks before Senate (0730 GMT) and Chamber of Deputies (1430 GMT) ahead of European Council to be held on June 22-23.

Economy

Milan, state lender Cassa Depositi e Prestiti SACE present 2017 report on export, with President Beniamino Quintieri and CEO Alessandro Decio, Enel President Maria Patrizia Grieco, FCA EMEA COO Alfredo Altavilla.

Companies (*) Veneto Banks, Intesa Sanpaolo

The deadline to present offers for Banca Popolare di Vicenza and Veneto Banca expires on Wednesday, several newspapers said. Intesa Sanpaolo, which is seen as the most likely taker of the two banks' good assets, may call an extraordinary board meeting on Wednesday, Il Sole 24 ore said.

The paper also said the state would contribute 5 billion euros to a bad bank where the two banks' non-performing loans - 10 billion euros - would be spun off. The state would also put a few hundred million euros in the "good bank", it said.

Besides Intesa, UniCredit and BNP Paribas have also looked at the data room, Corriere della Sera said. Iccrea is no longer interested due to opposition from the European Central Bank to its involvement, Il Sole said.

(*) Monte Dei Paschi Di Siena

The bank's restructuring plan should be presented to the market in the first 10 days of July, Corriere della Sera said, adding it includes 5,500 job cuts and 350-400 branch closures.

BANCA CARIGE (*) Expected to hold board meeting on Wednesday, could appoint new CEO Paolo Fiorentino. Il Sole 24 Ore said the bank's capital increase could be for up to 700-800 million euros, even if the most likely amount is 500-600 million euros.

(*) Alitalia, Intesa Sanpaolo, Unicredit

There is a dozen or so offers that have been given access to the data room in the second round of the sale process to buy Alitalia or its assets, newspapers said. Corriere della Sera said 15 potential bidders were short-listed. The papers list Delta, Lufthansa, Etihad, British Airways, Ryanair and EasyJet. Corriere della Sera says Air France has also presented an offer.

(*) Atlantia, Abertis

Atlantia could sell both Cellnex and Hispasat if its planned takeover of Abertis goes ahead, with proceeds potentially exceeding 2 billion euros, Il Sole 24 ore said.

Leonardo

Italian aerospace and defence company Leonardo will not cut its stake in European missile group MBDA, as the sector is considered strategic for Italy, the head of the country's defence companies association told Reuters on Tuesday.

The German government hopes to complete negotiations with European weapons maker MBDA and its U.S. partner, Lockheed Martin Corp about a multi-billion euro missile defence system by year-end, a ministry spokesman said on Tuesday.

Leonardo will complete the certification for its AW609 aircraft by next year and will make the first deliveries by end-2019, a company executive said on Tuesday.

Credem

Fitch Ratings affirmed Credito Emiliano's (Credem) Long-Term Issuer Default Rating (IDR) at 'BBB' and Viability Rating (VR) at 'bbb'. The Outlook is Stable.

Tbs Group

The board deemed the price of 2.2 euros per share for takeover bid launched by Double 2 on TBS Group adequate.

Lu-Ve

Listing ceremony at bourse main segment MTA (before listed on AIM segment) with Chairman Iginio Liberali (0630 GMT).

For Italian market data and news, click on codes in brackets:

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FTSE IT allshare index

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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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