June 26, 2017 / 7:00 AM / 4 months ago

Italy - Factors to watch on June 26

The following factors could affect Italian markets on Monday.

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 centre-right parties were the big winners in mayoral elections on Sunday, partial results showed, in a vote likely to put pressure on the centre-left government ahead of national elections due in less than a year.

Rome, “Women’s Forum 2017” starts (1200 GMT); ends on June 27. Expected attendees include European Union’s foreign policy chief Federica Mogherini, European Parliament President Antonio Tajani, European Industry Commissioner Elzbieta Bienkowska, Intesa Sanpaolo CEO Carlo Messina, Italian Economy Minister Pier Carlo Padoan.

Rome, Enel presents installation plan of the new electric meter “Open Meter” with Prime Minister Paolo Gentiloni, Enel CEO Francesco Starace (0800 GMT).

Milan, INPS President Tito Boeri attends conference on “The Human Technopole Case” (0800 GMT).

ECONOMY

ISTAT releases May non-EU foreign trade data (0800 GMT).

Rome, agreement between European Investment Bank (EIB) and state lender Cassa Depositi e Prestiti (CDP) to finance reconstruction in the areas of Central Italy, with EIB Deputy Chairman Dario Scannapieco, Economy Minister Pier Carlo Padoan, CDP CEO Fabio Gallia (0930 GMT).

DEBT

Italy’s Treasury said on Friday it would offer 6.75 billion euros ($7.6 billion) in six-month bills at auction on Wednesday.

COMPANIES

VENETO BANCA, POPOLARE DI VICENZA, INTESA SANPAOLO

Italy began winding up two stricken Veneto-based banks on Sunday in a deal that will see their good assets transferred to Intesa Sanpaolo and could cost the state up to 17 billion euros ($19 billion). (*) Intesa Sanpaolo said on Monday its planned acquisition of the good assets of Banca Popolare di Vicenza and Veneto Banca could lead to the closure of around 600 branches and the departure, on a voluntary basis, of around 3,900 staff.

A group of four international investment funds offered to inject 1.6 billion euros ($1.79 billion) of fresh capital into two ailing Italian banks in Veneto at the end of May, sources told Reuters, but their plan was not pursued by Rome.

MONTE DEI PASCHI DI SIENA

The bank is due to hold a board meeting on Friday to approve a restructuring plan that is a key part of its bailout by the state, Il Sole 24 Ore said on Sunday.

(*) BANCO BPM

The lender has already shed 2.5 billion euros of non-performing loans out of the total sale of 8 billion euros agreed with the ECB, the bank’s CEO Giuseppe Castagna told Corriere della Sera’s L‘Economia insert in an interview. The bank could sell additional 5-6 billion euros in NPLs on top of the 8 billion agreed with the ECB, he added.

(*) TELECOM ITALIA, OPEN FIBER, ENEL

Enel’s broadband unit Open Fiber has clinched a deal with Roman utility ACEA to lay fiber optic cables in the capital, La Repubblica’s Affari&Finanza insert said on Monday, citing source close to the company. The official announcement should arrive after the summer, the paper added.

FINCANTIERI

A committee that must authorise the use of public funds to boost exports has approved the financing of a deal worth almost 4 billion euros ($4.47 billion) signed by the state-owned ship builder to build seven ships for Qatar, Il Sole 24 Ore said on Sunday. This will pave the way for a pool of banks to grant a loan to fund the order, it said.

UBI BANCA

The lender said, as of Friday, it had not been notified of any request from prosecutors for bank to be sent to trial.

DIASORIN

‘Investor Day’ (1030 GMT).

IPOs

PIRELLI

The company is close to completing a 4.2 billion euros financing deal with banks that will reduce the cost of debt and extend reimbursement deadlines in view of its planned re-listing on the market in the fourth quarter of the year, Il Sole 24 Ore said on Sunday.

ESSELUNGA

A board meeting of the supermarket chain should be held this week to approve the takeover by Esselunga of its property company Villata, Il Sole 24 Ore said. This will cost 1.3-1.5 billion euros which will be provided by a loan financed by a syndicate comprising Citigroup and other banks, it said. The ultimate goal is to list the retailer by 2020, with Mediobanca possibly involved as an adviser for the IPO.

Without an IPO in the next 3-4 years, Giuliana Albera and Marina Caprotti - who have a combined 70 percent stake in Esselunga - would have to buy out Giuseppe and Violetta Caprotti, Il Sole said, adding that a possible scenario could also see an investor buying Giuseppe and Violetta’s minority stake in the group.

Trade ex-dividend: STMICROELECTRONICS of 0.06 euro US dollar per ordinary share as quarterly dividend; ZEPHYRO of 0.30 euro per ordinary share.

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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