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Italy - Factors to watch on April 27
April 27, 2017 / 4:03 AM / 7 months ago

Italy - Factors to watch on April 27

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 .

POLITICS

Prime Minister Paolo Gentiloni speaks before Chamber of Deputies (0700 GMT) and Senate (0730 GMT) ahead of extraordinary European Council meeting due on Aptil 29.

Economy Minister Pier Carlo Padoan answers question time on Alitalia (1300 GMT).

ECONOMY

ISTAT releases April consumer and business confidence data (0800 GMT) and non-EU foreign trade data (0900 GMT).

Assogestioni expected to release March fund flows data.

DEBT

Treasury sells 7.25-8.75 billion euros over three bonds at auction on Thursday including a new floating-rate CCTeu certificate due in 2024.

COMPANIES

UNICREDIT, INTESA SANPAOLO

Italy’s former Prime Minister Matteo Renzi, who is running to become the leader of the ruling Democratic Party, said if he wins Sunday’s vote he will come up with a plan to rescue loss-making airline Alitalia by mid-May.

(*) German carrier Lufthansa is willing to take on Alitalia but only after the airline goes through a bankruptcy process so that it can be transferred at zero cost, Corriere della Sera reported. Lufthansa is interested only in the around 40 planes that are owned by Alitalia - out of 120 currently in use - and just 3,000 of the airline’s 12,000 employees.

(*) CGIL union leader Susanna Camusso called for state lender CDP to step in to ease a sale of Alitalia to a rival airline.

(*) A board meeting on Thursday is expected to start proceedings to put the airline under special administration with the aim of concluding all necessary steps by May 2, Il Sole 24 Ore reported, adding Luigi Gubitosi and Enrico Laghi were set to be appointed as special commissioners.

(*) Intesa Sanpaolo is looking at ways to cut costs at the carrier while reducing the planned cut in staff wages to 6 percent from the 8 percent cut envisaged in the restructuring plan rejected by workers, la Repubblica reported.

A new plan could lead to talks with Germany’s Lufthansa which had expressed an interest in Alitalia ahead of the workers’ vote but would only pursue talks if an accord with unions could be found, the paper said.

ATLANTIA

A board meeting on Thursday is expected to discuss the sale of a 15 percent stake in the group’s Autostrade per l‘Italia unit, Il Sole 24 Ore reported, adding Allianz Capital Partners was likely to be granted an exclusive to discuss the acquisition.

FIAT CHRYSLER AUTOMOBILES

The group may seek more supplier partners to help it develop and build self-driving vehicles, Chief Executive Officer Sergio Marchionne said on Wednesday.

The Jeep and Ram brands are strong enough to exist as standalone entities outside FCA, Marchionne also said on a conference call with analysts after the company reported record first-quarter results. But he did not elaborate on whether there were any plans for a spin-off of either, like with Ferrari.

ARNOLDO MONDADORI

Chairwoman Marina Berlusconi told Corriere della Sera in an interview that books would be the main target of possible acquisitions. She added the group was looking outside of Italy where antitrust issues would not allow Mondadori to expand further its book business.

(*) TELECOM ITALIA

Top shareholder VIVENDI urged Telecom Italia shareholders in an advertisement published in la Repubblica to back its slate of board candidates at the upcoming annual general meeting. The French group reiterated it was a long-term investor in Telecom Italia and said the Italian phone group represented a key element of its overall media strategy.

ASSICURAZIONI GENERALI

Fitch Ratings said on Wednesday it had affirmed its credit rating on the insurer at ‘A-’ with a stable outlook, despite its recent downgrade of Italy’s sovereign debt ratings.

Group holds annual general meeting.

GRUPPO EDITORIALE L‘ESPRESSO

Board meeting on Q1 results and annual and extraordinary shareholders’ meetings (0900 GMT).

ITALIAONLINE

Annual general meting (1300 GMT), followed by savings shareholders’ meeting (1500 GMT).

STMICROELECTRONICS

The group reported on Thursday a net income of $108 million for the first quarter compared with a loss of $41 million in the same period of 2016 on a 13 percent rise in revenues to $1.82 billion.

CNH INDUSTRIAL

Board meeting on Q1 results, followed by conference call (1330 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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