December 12, 2019 / 5:04 AM / a month ago

Italy - Factors to watch on Dec. 12

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

Italian Prime Minister Giuseppe Conte dismissed criticisms of planned reforms to the euro zone bailout fund on Wednesday, saying the proposals, which have been heavily attacked by right-wing opposition parties, posed no threat to Italy.

MONTE DEI PASCHI DI SIENA

The bank said on Wednesday that the European Central Bank had set a 10.14% minimum CET 1 ratio requirement for 2020. It said that, as of September, its transitional CET1 ratio of 12.6% on fully loaded basis was comfortably above the ECB’s minimum requirements.

TELECOM ITALIA

Telecom Italia and Vodafone will kick off the sale of a stake in their Italian tower business in the coming days after giving the mandate to advisers, two sources said.

(*) NEXI

State lender CDP is in favour of a merger of Nexi and SIA and is getting ready to step up efforts in this direction, Il Messaggero said, adding however at this moment it was looking into the idea of a listing of SIA and had taken no decision.

(*) FIAT CHRYSLER AUTOMOBILES

The United Auto Workers union said on Wednesday that rank-and-file members at Fiat Chrysler Automobiles NV have voted in favour of a new four-year labour contract with the automaker, helping the Italian-American group avoid a strike as it works to merge with France’s Groupe PSA.

(*) FERRARI

Ferrari said it had signed a new syndicated revolving credit facility.

(*) SNAM

The government’s plans for troubled steel maker ILVA involve Italian gas group Snam with talks already under way, La Stampa said, citing an unnamed source.

(*) ENI, ITALGAS

The sale of Eni’s 49% stake in Greek gas distributor Eda Thess to Italgas for 50-60 million euros is picking up speed, MF said.

OVS

The clothing retailer said on Wednesday that its pre-tax profit came in at 11.9 million euros in the first nine months of the year, down from 36.8 million euros in the same period last year.

SAFILO

Italian eyewear maker Safilo said on Wednesday it expected the loss of licences with luxury LVMH brands to wipe 200 million euros ($220 million) off its annual sales and it would cancel its dividend for five years, sending its shares plunging almost 22 percent.

(*) AS ROMA

Talks between Texan businessman Dan Friedkin and AS Roma’s main shareholder James Pallotta have unexpectedly hit a hurdle over how much the soccer club is worth, IlSole 24 Ore said.

(*) BANCA FARMAFACTORING

Farmafactoring is interested in Depobank, MF said.

(*) BANCO BPM, BPER BANCA

The idea of a merger between Banco BPM and BPER Banca is something that could appeal to some of the banking foundation shareholders of the two lenders, MF said, pointing out however it is no more than an idea for now.

Arca, the asset manager 57% controlled by BPER, is drawing interest from private equity players as its shareholders study a sale, MF said.

DIARY

Milan, Industry Minister Stefano Patuanelli expected to address final remarks at report presentation on energy efficiency (0800 GMT).

Rome, Industry Ministry Stefano Patuanelli holds meeting on ILVA with representatives from government, trade unions, special administrators (1600 GMT).

Vado Ligure, Infrastructure and Transport Minister Paola De Micheli attends news conference and opening ceremony of ‘Terminal VADO Gateway’ (0900 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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