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Italy - Factors to watch on Aug. 30
August 30, 2017 / 4:01 AM / 4 months ago

Italy - Factors to watch on Aug. 30

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 .

EVENTS

Rome, welfare institute INPS presents “Unified Centre for Work Sickness Check-ups” with Chairman Tito Boeri (0800 GMT).

Venice, 74th Venice International Film Festival starts; ends on Sept. 9.

ECONOMY

ISTAT releases July producer prices data (0900 GMT).

(*) Moody’s Investors Service kept its forecast for G20 economic growth at just over 3 percent for this year and next, but warned of geopolitical risks, U.S. protectionism and spillovers from global monetary tightening and China’s deleveraging measures.

DEBT

Treasury sells 2.5-3.0 billion euros BTP bonds due Aug. 1, 2022; 2.0-2.5 billion euros BTP bonds due Aug. 1, 2027; 1.25-1.75 billion euros CCTeu bonds due Oct. 15, 2024. Subscriptions close at 0900 GMT.

COMPANIES

Bourse After Hours market closed.

ENI

Mozambique will charge the Italian energy company $350 million in capital gains tax for its sale of a stake in the Coral South natural gas field to ExxonMobil, the nation’s finance minister said on local television on Tuesday. (*) Former Wind-Tre manager Maximo Ibarra could join the management team of Open Fiber, the telecoms network company owned by Enel and state lender Cassa Depositi e Prestiti (CDP), Corriere della Sera reported.

(*) TELECOM ITALIA

The group’s controlling shareholder, France’s Vivendi , is still looking for a new chief executive and a board meeting to define the new governance could be held at the end of September, Corriere della Sera reported.

The task of newly-appointed operations chief Amos Genish could be to sell the group’s assets in Brazil and negotiate the spin-off of the company’s network in order to cut debt, the report added. Genish is waiting for his visa to work in Rome and could be given the role of director general, it added.

The group’s appointment committee could meet between tomorrow and after tomorrow to evaluate a list of candidates for the position of chief executive and a board will be held on the week of Sept. 11, Il Messaggero reported. Genish, a Telecom Italia manager, deputy chairman Giuseppe Recchi and former Telecom manager Paolo Dal Pino are all possible candidates, the report added.

(*) MEDIASET

Two meetings between Chief Executive Pier Silvio Berlusconi and Vivendi’s Arnaud de Puyfontaine and Vincent Bollore’ in the last months regarding the control of the French group over the private broadcaster have been inconclusive, La Stampa reported. It added that any agreement between the two companies would depend on the solution Vivendi will reach with the Italian government over Telecom Italia.

BRUNELLO CUCINELLI

The Italian luxury goods maker said on Tuesday it expected double-digit growth to continue in the near future after posting a 13 percent rise in core profits in the first half of the year.

Its Chief Executive told a post-results analyst call that debt, expected to be between 30-35 million euros at the end of this year, is not an issue for the group.

(*) FINCANTIERI

Negotiations over the STX France shipyards will be part of a wider plan envisaging a possible alliance between Italy and France over military shipbuilding, la Repubblica reported. Contacts between diplomats of the two countries continued in August and French Economy minister Bruno Le Maire and his Italian counterpart Pier Carlo Padoan are expected to discuss about the issue this weekend at the Ambrosetti Forum in Cernobbio, the report added.

(*) BANCA INTERMOBILIARE

Warburg Pincus, Attestor, JC Flowers and Barents Re have made offers to buy Veneto Banca’s 71 percent share in private banking unit BIM, with the first two favoured in the race, reported Il Sole 24 Ore. The value of BIM could be around 100-150 million euros, against a market capitalisation of just over 175 million euros, the daily reported.

A report in La Stampa added that the sale process could be finalised by mid-September.

(*) BANCA CARIGE

Over thirty subjects are accessing the data room in view of the sale of the lender’s 1.4 billion euro non-performing loan portfolio, Il Sole 24 Ore reported. Offers are expected in the first half of September, the report added, citing sources. The bank is considering 4-5 offers for its Milan offices, for amounts above 100 million euros, from Italian and international funds and big retailers and is expected to make a choice in the first days of September, it reported.

(*) ANIMA HOLDING

The group has called five banks to put together credit lines worth up to 900 million euros for the acquisition of wealth manager Aletti Gestielle from lender Banco BPM, Il Messaggero reported.

AS ROMA

AS Roma has completed the record signing of striker Patrik Schick from Serie A rival Sampdoria on a five-year deal that could eventually be worth 42 million euros ($50.50 million), the Italian soccer club said on Tuesday.

IPO

Italian gaming company Gamenet Group has filed a request to list on the Milan Bourse.

The Italian publicly-owned multiutility Estra said on Tuesday shareholders have approved the process that will lead to the company’s listing on the STAR segment of the Milan bourse in the spring of 2018.

IVS GROUP

The company posted an H1 turnover of 206.7 million euros, up from 183.2 million euros in the first half of 2016.

BIANCAMANO

Annual general meeting to approve 2015 and 2016 FY results (0900 GMT).

VINCENZO ZUCCHI

Annual general meeting (1300 GMT).

WM CAPITAL

Extraordinary shareholders’ meeting (1630 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

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