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Italy - Factors to watch on Aug. 10
August 10, 2017 / 6:39 AM / a month ago

Italy - Factors to watch on Aug. 10

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 (*) The European Central Bank is slightly more likely to announce a change to its asset purchases programme in September than October, a Reuters poll found.

ISTAT releases June foreign trade data (0800 GMT).

DEBT

Treasury sells 6.5 billion euros 12-month BOT bills. Subscriptions close at 0900 GMT.

COMPANIES

Bourse After Hours market closed.

INTESA SANPAOLO

The Italian bank is set to buy Swiss private bank Banque Morval, in a deal worth 150 million to 200 million euros ($176-235 million), a source with knowledge of the matter said on Wednesday.

ENAV

Italy’s air controller said on Wednesday core earnings rose 7.3 percent in the first half of the year, boosted by traffic growth and cost cuts.

ENAV has around 18 million euros in unpaid invoices from airline Alitalia, which has been put under special administration earlier this year, the CEO of the air traffic controller said on Wednesday.

SAVE

The conditions for the launch of a takeover bid on the Italian airport operator have occurred, the company said on Wednesday. (*) The takeover bid at 21 euros per shares will be launched by Agora Investimenti, a company which already holds 60 percent of the group’s shares, several dailies reported.

IL SOLE 24 ORE

The publisher said on Wednesday it confirmed Guido Gentili as editor in chief of the group, its daily Il Sole 24 Ore, Radio 24 and other publications of the group, after the exit of former editor Roberto Napoletano.

The publisher has revised its 2017-2020 business plan to take into account a worse than expected trend in newspapers sales. The revised plan sees 2017 revenue at 258 million euros, down from 275 million euros expected in March, and core profits at 18 million euros, down from 19 mln euros. In 2020 core profits are expected to be equal to 44 million euros, down from 45 million euros estimated in March.

(*) TELECOM ITALIA

There is no change in the control or management of the phone company’s strategic assets by France’s Vivendi hence there conditions for the application of the so-called golden power rule by the Italian government do not exist, states an independent opinion by two Italian lawyers sent by Telecom Italia to Rome on Monday evening, Il Sole 24 Ore reported.

(*) MEDIASET

The private broadcaster has spent 25 million euros to buy Radio Subasio, Il Sole 24 Ore reported.

(*) BANCA MONTE DEI PASCHI DI SIENA

In a meeting last week the Supervisory board of the European Central bank has acknowledged the plan by the Italian government to save the lender, which includes the injection by the Finance Ministry of 8.1 billion euros, Il Messaggero reported.

ERG (*) The group said on Thursday recurring net profit was up 59 percent to 27 million euros as core profits fell 3 percent in the first half of the year. Conference call on H1 results (0900 GMT).

(*) STEFANEL

The group said on Thursday it called an extraordinary shareholders meeting, to be held on September 21 or 26.

ASTM

The company said H1 net profit from continued operations fell to 46 million euros.

SIAS

The group reported H1 net profit from continued operations at 78.8 million euros.

IMVEST

Annual general meeting.

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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