June 22, 2018 / 6:33 AM / in 5 months

Italy - Factors to watch on June 22

The following factors could affect Italian markets on Friday.

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

Labor Minister and Deputy Prime Minister Luigi Di Maio attends second day of trade union UIL national congress in Rome.

The International Monetary Fund is seeking more clarity from Italy’s new government on its economic plans as it sees that markets are nervous over the country, the fund’s managing director said on Thursday. (*) French President Emmanuel Macron said on Thursday populism was spreading across Europe like a disease that Europeans should fight more vigorously instead of criticising the actions of pro-European governments like his.

(*) ECONOMY

Claudio Borghi, an economist from the far-right League who was picked on Thursday to head the Budget Committee of Italy’s Senate, said he remained convinced that Italy would be better off if it regained its monetary sovereignty, speaking in an interview with Corriere della Sera. He added, however, that a decision to leave the euro would require a complicated process and that the move is was not part of the government’s contract nor was it in that of the centre-right coalition which included the League.

DEBT

Treasury announces sale of 6-month BOT bills, with relative amounts to be auctioned on June 27.

UNIPOL, BPER

Italy’s Unipol said on Thursday it was buying 5.2 percent of BPER Banca to take its overall holding in the regional lender to 15 percent, adding it could buy more. (*) The move will increase Unipol’s influence on BPER’s strategy and will put pressure on the lender’s CEO Alessandro Vandelli to approve a capital hike which the head of Unipol Group sees as “useful to drastically clean the bank from its bad loans”, Corriere della Sera reported, without citing sources. (*) The reason underlying the move is that Unipol intends to promote the merger between its Unipol Banca and BPER, il Messaggero reported. (*) The move could bring to the arrival of new top managers in BPER, including former CEO of BPM and Carige Piero Montani, MF reported.

CAREL

The company said the greenshoe option of its recent IPO had been fully exercised to raise a further 37.8 million euros for the selling shareholders. A total of 40.25 percent of the company is now on the market.

BANCA CARIGE

Banca Carige approved the sale of 50 mln euro unlikely-to-pay loan portfolios.

(*) ASTALDI

The company will not need to sell the assets linked to its third bridge over the Bosphorus but it will be sufficient for the group to receive at least one offer in order for its capital hike to be approved, Il Sole 24 Ore reported, adding the issue will be put to a vote in an upcoming shareholders’ meeting.

(*) MONDADORI

The publisher plans to buy a foreign peer, which is likely to be British, and the operation should be worth around 200 million euros, Il Sole 24 Ore reported.

(*) TELECOM ITALIA

Three week’s after the launch of Iliad’s low-price mobile offer in Italy, Vodafone is set to launch its own low-cost services under the name “Ho”, with a voice, messaging and data bundle priced at just a euro a month more than Iliad, la Repubblica reported.

(*) POSTE ITALIANE

The postal operator will draw up by July a shortlist of the possible insurance companies from which the group will choose a partner for the car insurance offered to clients at its post offices, la Repubblica reported, adding that more than 5 insurers, Italian and foreign, have approached Poste.

(*) SNAM

The Minister for the South Barbara Lezzi has announced that a committee will be set up to evaluate whether to build the final stage of the Trans Adriatic Pipeline (TAP) in Italy, il Messaggero reported. Snam is one of the developers of the project.

(*) A.S. ROMA

Although the project of the club’s stadium in Rome is formally going ahead, despite recent scandals, Rome’s mayor Virginia Raggi and a majority of politicians in her 5-Star party are buying time, il Messaggero reported.

BANCA INTERMOBILIARE

Trinity Investments Designed Activity Company ends full mandatory takeover offer on Banca Intermobiliare shares.

CSP INTERNATIONAL

Annual general meeting (0700 GMT).

ENERGICA MOTOR COMPANY

Warrant (0630 GMT), ordinary (0715 GMT) and extraordinary (0930 GMT) shareholders’ meetings.

(*) M&A

U.S fund KKR is in the lead for the acquisition of Italian chemicals maker Italmatch, Il Sole 24 Ore reported, adding that the sale is in its last stages and 3-4 private equities are interested in picking the group up. (*) IPO

Italy’s Fimer, which produces energy inverters, is set to list on the market after its sales doubled between 2015 and 2017, Il Sole 24 Ore and Corriere della Sera reported. Corriere della Sera added the group has just won an important contract with Enel’s “e-Solutions” division Enel X to supply over 2000 electric car charging units by the end of the year.

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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