July 23, 2019 / 5:47 PM / a month ago

Italy - Factors to watch on July 24

The following factors could affect Italian markets on Wednesday.

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 said on Tuesday that blocking works on a rail link with France would cost Italy more than completing the infrastructure, taking a stance on an issue that has divided the government coalition for months.

DEBT

Treasury announces sale of six-month BOT bills, with relative amounts to be auctioned on July 29.

UNICREDIT

Any workforce reduction at Italy’s lender will be handled through early retirements, its chief executive said in a letter to staff on Tuesday following media reports the bank was preparing to announce 10,000 job cuts.

TELECOM ITALIA

Italy’s biggest phone group is set to announce on Friday a deal with rival Vodafone to merge their tower infrastructure and jointly deploy fifth generation mobile technology in Italy, a source close to the matter said.

TIM and Inwit said late on Tuesday they had both convened board meetings for July 26 to discuss the partnership project with Vodafone.

(*) FIAT CHRYSLER

Talks with France’s Renault over a possible alliance never stopped as it remains a priority for the Italian-America automaker, although it looks more complicated now as it should engage Renault’s Japanese partner Nissan , daily Il Sole 24 Ore said citing sources. The report added that FCA might reconsider a plan to spin-off its U.S. brand Jeep if talks with Renault should definitively stop.

(*) CARIGE (shares suspended from trading)

Cooperative lender Cassa Centrale Banca is expected to hold a board meeting to discuss its role in the Genoa-based bank’s rescue plan.

Italian depositor guarantee fund FITD, financed by the country’s lenders, does not consider acceptable some of the conditions set by Cassa Centrale Banca to join a rescue plan for Carige, daily Il Sole 24 Ore said.

(*) ATLANTIA

Italian infrastructure group wants substantial changes to a business plan for struggling carrier Alitalia, as the initial one set up by state railways FS and U.S. carrier Delta does not exploit Alitalia’s full potential on north-Atlantic routes, Il Sole 24 Ore said.

ENEL

Italy’s biggest utility said on Tuesday the extraordinary shareholders’ meeting of its Russian subsidiary PJSC Enel Russia has approved the sale of the coal-fired power plant Reftinskaya GRES to JSC Kuzbassenergo, owned by Siberian Generating Company.

(*) IREN

Italian regional utility has financial resources for big M&A deals, Chief Executive Massimiliano Bianca told Il Sole 24 Ore, confirming IREN was looking into rivals Sorgenia and CVA.

Board meetings on H1 results: MONCLER followed by conference call, SAIPEM (press release on July 25), EDISON, FINCANTIERI.

STMICROELECTRONICS

Board meeting on Q2 results (press release on July 25).

DIARY

Public transport strike.

Rome, PM Giuseppe Conte to address Senate on case of alleged Lega Russian fundings (1430 GMT).

Rome, PM Conte attends Interministerial Committee for economic planning (0700 GMT).

Rome, Chamber of Deputies, question time with PM Conte (1300).

Rome, Chamber of Deputies, Commission for Regional Issues, Toninelli hearing (1000), Tria (0630). Rome, Mise, Minister Di Maio attends round table with Whirpool representatives.

Rome, Lower house of parliament expected to hold vote of confidence in the government’s new security bill.

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:............................... ($1 = 0.8964 euros)

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