April 5, 2018 / 4:00 AM / 8 months ago

Italy - Factors to watch on April 5

The following factors could affect Italian markets on Thursday.

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

Markit/ADACI releases March service Pmi data (0745 GMT).

Bank of Italy starts conference on “Financial Stability and Regulation” in Rome; ends on April 6.

COMPANIES (*) TELECOM ITALIA

The company said the shareholders meeting called for May 4 has been properly called and is not affected by a decision by the group’s statutory auditors to supplement the agenda of a shareholders meeting called on April 24 at the behest of activist fund Elliott. The April 24 meeting does not mean the May 4 meeting has been superseded, it said.

Italian state lender CDP is set to buy a stake of up to 5 percent in TIM, two sources close to the matter said on Thursday.

The decision on the share acquisition, including its size, will be taken at CDP’s board meeting on Thursday and CDP intends to buy the shares on the market or in block orders, a source said.

CDP aims to buy the stake in TIM in time to take part in the group’s April 24 shareholder meeting, a source said.

The decision for CDP to buy a share in TIM was taken at a meeting with Italy’s outgoing government last week and is supported by all of the country’s main political parties, several dailies reported on Thursday.

CDP decision is “anti-French” and the state lender could support Elliott’s strategy, Corriere della Sera and la Repubblica reported on Thursday.

The next step would be for TIM to merge with broadband company Open Fiber, which in turn is owned by CDP and state-controlled utility Enel, la Repubblica reported.

MEDIASET

MediaPro will unveil on Friday the terms of the new offer for Serie A TV rights for the 2018-2021 seasons, two sources said. MediaPro representatives met Sky Italia managers on Wednesday. (*) Italy’s antitrust authority has sent a request to both Mediaset and Sky for details on the content deal signed on Friday, La Stampa and Il Sole 24 Ore reported.

ATLANTIA

Atlantia said on Wednesday it intended to exercise an option to sell Abertis’s 29.9 percent stake in Cellnex to Edizione. (*) Spain’s ACS and Atlantia have signed an agreement with ten banks for a 10 billion euros loan to buy Abertis, several newspapers reported.

BANCA MONTE DEI PASCHI DI SIENA

The top executives of bailed-out Italian bank Monte dei Paschi di Siena told investors in London on Wednesday the bank is making progress with its turnaround plan, two fund managers who attended the meetings said.

(*) UNICREDIT

The bank is looking to sell about 2 billion euros of gross bad loans from small and medium companies by the end of 2018, Il Sole 24 Ore reported.

SAIPEM

State lender agency Cassa Depositi e Prestiti and oil major Eni are expected to hold board meetings on Saipem slate of board nominees.

(*) AS ROMA

Barcelona capitalised on two disastrous own goals by AS Roma to thrash the Italian side 4-1 at the Nou Camp on Wednesday and take a huge step towards reaching the Champions League semi-finals for the first time in three years.

BANCA FARMAFACTORING

Annual general meeting (0900 GMT).

SINTESI

Board meeting on FY results.

Bourse After Hours market closed.

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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