July 2, 2020 / 4:03 AM / a month ago

Italy - Factors to watch on July 2

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

The Netherlands expects tough negotiations before a deal can be reached on the European Union’s proposed Recovery Fund but believes a deal can be reached, Dutch Prime Minister Mark Rutte told Italian newspaper Corriere della Sera.

ECONOMY

ISTAT releases May employment rate data (0800 GMT).

FIAT CHRYSLER

New car registrations in Italy fell for the sixth consecutive month in June, declining 23.13% from the previous year, the transport ministry said on Wednesday.

(*) MEDIOBANCA - GENERALI - UNIPOL

Unipol CEO Carlo Cimbri told La Repubblica he did not understand the industrial rationale of Leonardo Del Vecchio’s investment in Mediobanca, after the Luxottica founder recently asked the ECB to double his stake to up to 20% of the bank’s capital, in which Unipol has 2%. “An affair that has large areas of ambiguity” and that could destabilize the management, he said.

Cimbri also said he considered the proposal by Mediobanca’s small shareholder Bluebell to distribute the 13% stake of Generali held by the bank to Mediobanca shareholders to be “senseless”.

(*) INTESA - UBI

Unipol CEO Carlo Cimbri told La Repubblica he endorsed Intesa’s offer to take over Ubi, saying he is confident that the choice of Ubi’s shareholders would be oriented towards a search for value and not towards the protection of the seats. Unipol has 20% of BPER, which will purchase a part of the branches of the two banks.

(*) ENI

The energy company is ready to apply for the European Innovation Fund to create in Ravenna the largest carbon dioxide capture and storage hub in the world, CEO Claudio Descalzi told Il Sole 24 Ore.

(*) INWIT

Italy’s biggest mobile towers company has concluded its first bond issue for a total amount of 1 billion euros with demand equivalent to approximately 4.5 times the offer.

INWIT is focused for the next 18 months on the merger of TIM and VODAFONE towers, then it will be able to think about an expansion abroad, CEO Giovanni Ferigo told Il Sole 24 Ore.

(*) MEDIA SECTOR

After a collapse during the first four months of the year due to the coronavirus crisis, Italian advertising investments are recovering and could limit the decline to 17% in 2020, the chairman of Italian advertising trade group UPA Lorenzo Sassoli told Il Corriere.

ATLANTIA

The group said the traffic on its motorway network in Italy was down 19.1% in the last week compared with the same period of last year. Passengers at its airports in Rome recorded a 91.1% drop year-on-year in the last week.

MONTE DEI PASCHI

The Italian lender said on Wednesday it had signed a deal to sell a portfolio of real estate assets to French private equity firm Ardian by year-end.

CAMPARI

The spirits group said the move of its registered office to the Netherlands will be signed on July 4 and the settlement of withdrawn shares is scheduled for July 7.

ASCOPIAVE Shareholders representing 2.3% of the capital have exercised their right to withdraw due to governance changes, the group said on Wednesday, adding that the new governance had become effective.

GUALA CLOSURES

Only 8256 shares were tendered to Investindustrial partial voluntary takeover offer on Guala Closures, equal to 0.05% of the Italian bottle caps maker capital, Borsa Italiana said.

DIARY

European Banking Authority (EBA) Director Mario Quagliarello attends online debate on “The Impact of COVID-19 on the EU Banking Sector” (1100 GMT).

BlackRock holds online presentation of its “MidYear Outlook report 2020” (0800 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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