July 20, 2017 / 4:00 AM / a month ago

Italy - Factors to watch on July 20

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 .

COMPANIES

BANKS

Italian banks have started receiving feedback from the European Central Bank on bad loan reduction plans they submitted in the spring, MF reported. On average, the ECB is not happy with targets which are not considered ambitious enough and recovery estimates that are seen as unrealistic, MF said, adding Frankfurt also wanted more disposals.

Italian banks may need to pay a further 250 million euros into the country's deposit guarantee fund (FITD), Il Messaggero reported. Around 200 million euros would be used to repay retail bondholders hit in the rescue of the two Veneto banks while the rest of the money is needed to ease a sale of three banks rescued from bankruptcy in 2015 to Credit Agricole Italia , it added.

TELECOM ITALIA

Italy's tax police carried out inspections at Telecom Italia's offices on Wednesday following a request by market watchdog Consob to assess how much influence top shareholder Vivendi has on the group's management, two sources familiar with the matter said.

(*) Vivendi could be forced to consolidate Telecom Italia's debt into its accounts if Consob ascertained that the French company "directs and coordinates" the Italian phone group, Il Sole 24 Ore reported.

ASSICURAZIONI GENERALI

Italy's biggest insurer said on Wednesday it had agreed to sell its business in Colombia to Talanx Group and had also completed the sale of its operations in Guatemala as it works to optimise its geographical presence.

Separtely, Talanx said it had acquired more than 90 percent of Generali Colombia Seguros Generales for a price of around 30 million euros.

ENEL

Italy's biggest utility said on Wednesday it had sold 138.6 tWh of power in the first half, up 5.6 percent from a year earlier, thanks to rising demand in its domestic market and in Latin America.

A2A

A Montenegro court has blocked the sale of a 41.7 percent stake in power utility Elektroprivreda Crne Gore by the Italian regional utility, which earlier this month had decided to exercise a put option over its holding.

FINCANTIERI

Italian Prime Minister Paolo Gentiloni spoke on Wednesday to French President Emmanuel Macron in an attempt to unblock Fincantieri's acquisition of STX France as part of a wider cooperation accord between the two countries, Il Sole 24 Ore reported. Fincantieri may tie-up with France's Naval Group, the paper said.

BPER BANCA, POPOLARE DI SONDRIO

The two banks are trying to reach an accord over a new joint bid for a 40 percent stake in asset manager Arca Fondi SGR, MF reported, adding the goal was for BPER to approve the offer at an Aug. 2 board meeting.

PIQUADRO

Annual general meeting (0900 GMT).

SIT (from of Industrial Stars of Italy 2 with SIT)

Expected to debut on AIM 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

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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