July 13, 2018 / 4:04 AM / 10 days ago

Italy - Factors to watch on July 13

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

Dozens of migrants rescued at sea and brought to an Italian port on Thursday cannot disembark, the country’s far-right interior minister said, reversing a decision by a fellow minister and opening a rift within the government.

Infrastructure and Transport Minister Danilo Toninelli meets European Transport Commissioner Violeta Bulc in Rome.

Italy’s farmers’ association Coldiretti holds national assembly, President Roberto Moncalvo presents annual report in Rome; Deputy Prime Minister and Labour and Industry Minister Luigi Di Maio, Agriculture and Tourism Minister Gian Marco Centinaio attend (0730 GMT).

ECONOMY

The chair of the Eurogroup of euro zone finance ministers said on Thursday that Italy’s new finance minister offered reassurances on Rome’s commitment to respect European Union fiscal rules.

Ratings agency DBRS reviews Italy’s sovereign debt rating.

Bank of Italy releases May data on public finances, state borrowing and debt.

BRUNELLO CUCINELLI

The fashion group said on Thursday net revenue was up 9 percent at current exchange rates in the first half of this year.

FINCANTIERI

The ship builder said on Thursday that Norwegian Cruise Line had confirmed orders for two additional “Leonardo”-class ships. (*) The group is expected to present the road map for the alliance over military ships with France’s Naval group in the next days, Il Sole 24 Ore reported. (*) The ship builder said on Friday it was awarded an order for the construction of 2 gas-powered cruise ships from TUI Cruises, to be delivered in 2024 ad 2026.

SAIPEM

Dario Scannapieco, a senior official at the European Investment Bank, is favourite to be named chief executive at state-backed investor Cassa Depositi e Prestiti (CDP), three sources said on Thursday.

The cash-rich fund holds stakes in a wide range of companies including phone group Telecom Italia, oil and gas major Eni, oil servicing group Saipem and national post office Poste Italiane.

(*) CREVAL

Generali, Allianz and Credit Agricole Cariparma have been shortlisted by the lender which is looking for a partner for Global Broker, an insurance broker in which it has a 51 percent share, Il Messaggero reported. It added that the first two suitors aim to sell their products through Creval while the Franco-Italian group would be thinking of a possible combination between the two groups. Final offers are expected by the end of the month with a decision to be taken by a board meeting called on Aug. 9, the report added. (*) BANCA CARIGE

The lender’s investor Raffaele Mincione, which currently holds a 5.4 percent stake, is seeking a green light from the European Central Bank to increase his stake to 19.9 percent, Il Messagero reported. Authorisation to do so may arrive as soon as early September, the report added.

Mincione has already upped his stake to 9.9 percent and other investment vehicles linked to him hold at least a further 5 percent in the lender, MF reported. In response to this potential threat from Mincione, top shareholder Malacalza could increase his own stake to 29.9 percent from the current 20.6 percent, the report added.

(*) BANCO BPM

Five offers have been made for the lender’s debt collection unit and the related non-performing loans, Il Messaggero reported.

(*) JUVENTUS FC

The club said on Thursday it reached an agreement with Cagliari for the transfer of player Alberto Cerri.

NICE

The group said on Thursday it acquired Fibaro, which operates in the ‘smart-home’ sector.

PORTOBELLO

Retail and advertising services company, debuts on AIM segment.

K.R.ENERGY

Ends capital increase.

CAD IT

Extraordinary shareholders’ meeting (0730 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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