February 3, 2017 / 5:01 AM / 10 months ago

Italy - Factors to watch on Feb. 3

The following factors could affect Italian markets on Friday.

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

Italy will present measures to curb its 2017 budget deficit by the end of April in response to the European Commission’s demands that it tighten up its public accounts, Economy Minister Pier Carlo Padoan said on Thursday.

Markit releases January service Pmi data (0845 GMT).

ISTAT releases basket of goods used to calculate inflation in 2017 (0900 GMT) and January flash CPI and HICP data (1000 GMT).

Trani, new hearing in trial over alleged market manipulation charges against rating agency Standard and Poor‘s.

COMPANIES

INTESA SANPAOLO, GENERALI

Intesa said on Friday that possible industrial combinations with insurer Generali were still merely the subject of “a case study”.

On Thursday the lender denied it was preparing an all-share offer for Generali after shares in the insurer rose in response to speculation that a bid was on its way. It was not clear if the bank had decided to drop its interest in Generali completely or whether it was looking at different options.

Intesa is looking for a “friendly” solution on Generali and not a hostile move that would push Generali’s price higher, La Stampa said, citing sources. The lender is taking time, it said.

Intesa releases preliminary full-year results on Friday.

(*) BANKS

The government will not force ailing banks to publish a black-list of their big debtors when it amends a decree on weak lenders, Il Messaggero reported.

(*) BANCO BPM

French insurer Covea is pressing to become the sole partner of the Italian bank for bancassurance business, Il Messaggero reported. Unipol is also a current insurance partner.

(*) TELECOM ITALIA

TIM Participaçoes, Brazil’s second-largest wireless phone company controlled by Telecom Italia, said on Thursday it aims to trim capital spending in the next three years while expanding its operating margins and maintaining positive revenue growth.

The phone group will present preliminary full-year results and plan on Friday.

FERRARI

CEO Sergio Marchionne said on Thursday the group’s 2017 guidance reflects the right level of prudence and that the 2017 industrial free cash flow guidance of between 280-300 million euros is conservative.

Chief Financial Officer Alessandro Gili said on Thursday 2017 capex will be north of 350-360 million euros.

Ferrari shares raced to a new high on Thursday after the Italian sports car maker beat quarterly sales and earnings estimates, and gave stronger than expected forecasts for 2017.

VENETO BANCA IPO-VENE.MI

The bank said on Thursday it issued two state-backed bonds for 3.5 billion euros.

<CAMPARI

The Italian beverage group said on Thursday it signed an agreement to acquire Bulldog London Dry Gin for $58.4 million. The closing is expected by mid-February.

ALERION CLEAN POWER

The group said on Thursday it appointed Josef Gostner as Chairman and CEO.

SALVATORE FERRAGAMO

‘Investor Day’ in Florence (0900 GMT).

PIQUADRO

Board meeting on sales Q3 results.

IPO, SPACE 3

Space 3 said on Thursday it has requested to be listed on the Milan bourse, on the MIV segment.

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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