January 17, 2019 / 5:03 AM / a month ago

Italy - Factors to watch on Jan. 17

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

Rome, Cabinet expected to meet on citizens’ income and early retirement option.

A cheaper alternative project for a high-speed rail link between Italy and France “is not on the table”, Italian Prime Minister Giuseppe Conte said in an interview published in the La Stampa newspaper on Thursday. Conte added that although global growth was not favourable, it was too early to talk about a budget correction for Italy.

ECONOMY

ISTAT releases November foreign trade data (0900 GMT).

COMPANIES (*) MONTE DEI PASCHI

Italian government might buy the lender’s NPLs through the Treasury’s bad bank SGA to make Monte dei Paschi more appealing for a merger, daily newspaper Il Corriere della Sera reported. If SGA also bought NPLs from a potential buyer, the total need for fresh capital for a new-born third banking group in the country would amount to 2.5-3 billion euros, the report added.

(*) CARIGE

The troubled bank’s top shareholder Malacalza Investimenti sent a letter to ECB to ask for all the documents related to the central bank’s decision to put Carige under special administration, daily Il Sole 24 Ore said. The report added that Malacalza Investimenti does not exclude to appeal to the European Court of Justice against ECB’s decision.

Milano Finanza said the Genoa-based bank will launch a state-backed bond with a size that could be over one billion euros and a three-year maturity. It will carry a yield around 2.5 percent, it added.

The European Commission will evaluate Carige’s state-backed bond program once it is presented by the lender, the EU antitrust commissioner Margrethe Vestager told Il Sole 24 Ore.

(*) INTESA SANPAOLO

The lender’s board has started discussing this week its new composition, as April 30 shareholders’ meeting approaches, Il Sole 24 Ore said. CEO Carlo Messina will keep his position while a confirmation of Chairman Gian Maria Gros-Pietro is in doubt, it added.

MEDIASET

Top shareholder Fininvest bought a further 2.55 percent of the Italian broadcaster increasing its stake to 43.73 percent.

(*) ATLANTIA, SALINI IMPREGILO, FINCANTIERI

Atlantia’s unit Autostrade holds board meeting to approve reconstruction of the collapsed ‘Morandi’ bridge in Genoa.

The agreement with details of the demolition and the reconstruction of the bridge — for which Autostrade will pay — will be signed by Friday, daily Il Corriere della Sera reported.

ENEL

The Italian utility agreed to sell solar plants in Brazil to China’s CGNEI for 700 million euros. The transaction is aimed at freeing up resources to finance Enel’s further renewable development in the country, the company said.

JUVENTUS

Chelsea have agreed a deal to sign striker Gonzalo Higuain on loan from Italian football club until the end of the season, according to reports in the British media.

Juventus secured its eighth Italian Super Cup victory on Wednesday as they beat AC Milan 1-0.

(*) AUTOGRILL

Il Sole 24 Ore said that potential buyers interested in Elior’s concession assets should present their bids by Thursday, adding Autogrill will likely table an cautious offer.

However a source close to the matter told Reuters Elior wanted the offers to be submitted by the end of January, adding Autogrill and a several private equity funds were interested in the asset.

TELECOM ITALIA

Board meeting.

EL.EN.

Ordinary shareholder’s meeting (0830 GMT).

DIARY

Prime Minister Giuseppe Conte attends opening ceremony of the academic year at La Sapienza University in Rome (1045 GMT).

Prime Minister Giuseppe Conte meets governors of earthquake-hit regions in Rome (1400 GMT).

Economy Minister Giovanni Tria speaks before Chamber of Deputies Finance Committee on Banca Carige (1300 GMT).

Bank of Italy Deputy Director General Fabio Panetta attends banking association ABI Executive Committee in Rome (1700 GMT).

Mediobanca Securities holds closed-door “1st Italian Mid-Cap Conference” in Milan.

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:............................... (Reporting By Viviana Venturi)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below