April 23, 2018 / 4:03 AM / a month ago

Italy - Factors to watch on April 23

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

Former prime minister Silvio Berlusconi branded the 5-Star Movement a danger for Italy on Friday, killing off any lingering chance of a coalition tie-up between his rightist bloc and the anti-establishment party.

DEBT

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on April 27.

The Treasury said on Friday it would offer six billion euros in six-month bills at an auction on Thursday.

BANKS

The European Central Bank has warned lenders it is checking their 2017 earnings to make sure they haven’t taken improper advantage of a new accounting rule in order to minimise the hit from loan losses, an Italian daily reported on Saturday.

TELECOM ITALIA

Activist investor Elliott International has hired broker Equita SIM to help it win over institutional investors in its battle for control of the Italian phone group, Il Sole 24 Ore reported on Saturday.

A judge is due to rule on Monday on an appeal by Telecom Italia’s board against a decision by its statutory auditors to include a motion proposed by activist fund Elliott to replace six board members in the agenda of a shareholder meeting on April 24.

ENEL

Brazil’s power company Neoenergia on Friday raised its takeover bid for power distribution company Eletropaulo Metropolitana SA to 29.40 reais from 25.51 reais per share, according to a securities filing.

CPFL Energia, owned by China’s State Grid has contacted banks to assess a possible offer, sources have told Reuters, adding a bid remained unlikely at present.

Enel is set to relaunch its bid, Il Sole 24 Ore said on Sunday.

UNICREDIT

The bank’s chairman Fabrizio Saccomanni told Il Corriere dellaSera on Sunday there were no more systemic risks for Italian banks, adding that while he acknowledged there had been a need to strengthen regulatory and oversight rules after the banking crisis, now perhaps was a time when a period of stabilisation was necessary. (*) Barclays raised its price target on the company to 19.50 euros from 19 euros and raised its rating to ‘overweight’ from ‘equalweight’.

FIAT CHRYSLER (*) Morgan Stanley raised its bull case on the company to 50 euros from 35 euros, while it’s price target on the stock remains at 23 euros.

(*) BANCA MONTE DEI PASCHI DI SIENA

Barclays raised its rating in on the bank to ‘equalweight’ from ‘underweight’, cut its target price to 2.75 euros from 3.80 euros.

BANCA CARIGE

Carige could double its value if it accepted to be bought, investor Raffaele Mincione told Corriere della Sera on Saturday.

SALVATORE FERRAGAMO

The Italian luxury goods maker appointed former Gucci executive Micaela Le Divelec as general manager on Friday, postponing selection of a new chief executive.

SAIPEM

The oil services group said on Friday it had won new drilling and offshore E&C contracts worth around $190 million.

SNAM

The Italian energy company has joined a consortium led by Mubadala Development and EIG Global Energy Partners which last week submitted one of three bids for a natural gas pipeline Brazil’s Petrobras is selling, Bloomberg News reported on Friday quoting people knowledgeable on the matter.

RETELIT

Investor Raffaele Mincione was quoted as saying in Saturday’s Corriere della Sera he didn’t want to overpay to win a control war over Retelit and if he were defeated at a shareholder meeting on April 27 he would wait to increase his vehicle’s holding to 29.9 percent until he could do so at a reasonable price.

ASTM

ASTM, the holding which controls constructor and concessionaire Gavio, is likely to reach its business targets on sales and geographic growth to 2021 ahead of time, Il Sole 24 Ore said on Sunday citing its CEO Alberto Rubegni.

BANCA GENERALI

Board meeting on Q1 results.

MODELLERIA BRAMBILLA

Full and voluntary takeover offer on ordinary share by Co.Stamp S.r.l. ends.

SOGEFI

Annual general meeting (1400 GMT) and board meeting on Q1 results.

BIOERA

Board meeting on FY results.

BOERO BARTOLOMEO

Board meeting on FY results.

KI GROUP

Board meeting on FY results.

The following companies hold annual general meetings: UNIPOLSAI, CAMPARI GROUP, DIASORIN, EI TOWERS, ERG, RAI WAY, CALTAGIRONE EDITORE, BANCA SISTEMA, ENERVIT, INTERPUMP GROUP, PHARMANUTRA, PIERREL , POLIGRAFICI PRINTING, REPLY, SITI-B&T GROUP, SNAITECH, SOFTEC, DIGITAL MAGICS, EXPERT SYSTEM

Trade ex-dividend: AUTOSTRADE MERIDIONALI of 1.0 euro per share; BANCA IFIS of 1.00 euro per share, BANCA MEDIOLANUM trades ex-dividend of 0.20 euro per ordinary share as final dividend (interim dividend of 0,20 euro per ordinary share on Nov. 20, 2017); CNH INDUSTRIAL of 0.14 euro per ordinary share; DE LONGHI 1.00 euro per share; FERRARI N.V. of 0.71 euro per ordinary share; FINECOBANK of 0.285 euro per share; ITALIAN WINE BRANDS of 0.40 euro per share; LUXOTTICA of 1.01 euros per share; PIAGGIO of 0.055 euro per ordinary share; PITECO of 0.15 euro per ordinary share; PRYSMIAN of 0.43 euro per share; RECORDATI of 0.43 euro per share as final dividend (interim dividend of 0.42 euro per share on Nov. 20, 2017); UNICREDIT of 0.32 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:...............................

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below