June 23, 2020 / 6:36 AM / 18 days ago

Italy - Factors to watch on June 23

The following factors could affect Italian markets on Tuesday.

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

Italy is preparing a new spending package worth 15-20 billion euros to help its battered economy through the coronavirus crisis, which will push its budget deficit beyond 11% of national output, a government source told Reuters.

DEBT

Italy’s Treasury said on Monday it would offer up to 5.5 billion euros in zero-coupon bonds (CTZ) and inflation-linked bonds (BTPei) at an auction on June 25.

Treasury announces sale of 6-month BOT bills, with relative amounts to be auctioned on June 26.

INTESA SANPAOLO

The Italian bank said on Monday it expected market regulator Consob to clear later this week the publication of the document relating to Intesa’s exchange offer for UBI, after it filed a new draft investor prospectus on Friday, triggering a suspension of the deadline by which Consob’s approval would be normally due.

The bank is ready to sell its leasing business by the end of the year, aiming to cash in 1 billion euros, Il Messaggero reported.

(*) MEDIOBANCA

European Central Bank supervisor Andrea Enria told Il Sole 24 Ore that the authorisation process regarding the request of Leonardo Del Vecchio to increase its stake in Mediobanca up to 20% would take a few weeks to be completed.

ATLANTIA

Autostrade per l’Italia, the toll-road unit of Italy’s infrastructure group Atlantia, told the Italian government that it was willing to continue talks to settle an ongoing dispute over its concession even after June 30.

Autostrade per l’Italia chief executive Roberto Tomasi told Il Messaggero that the company in May sent the government a second proposal to settle the dispute, rounding up the previous 2.9 billion euro offer and providing resources for further maintenance of toll roads.

TELECOM ITALIA

Italy might consider raising its stake in former phone monopoly Telecom Italia (TIM) as part of a plan to speed up the rollout of ultra-fast internet across the country, Prime Minister Giuseppe Conte said on Monday.

CATTOLICA ASSICURAZIONE

The Italian insurer said that the group had a solvency ratio of 133% as of June 12. It added that for the planned 500 million euros capital increase no pre-underwriting agreements had been signed, despite having received many expressions of interest from several banks.

MEDIASET, CAIRO COMMUNICATION - The Italian government is considering a reduction in the share of advertising allocated to the national public broadcasting company RAI, in order to help private broadcasters, which are suffering from the slump in advertising spending due to coronavirus crisis, La Stampa said.

AUTOGRILL

The travel caterer said it entered into an agreement with its lenders for a temporary suspension of the testing of financial covenants for 15 months.

JUVENTUS

Juventus resumed their Serie A campaign with a 2-0 win at Bologna on Monday.

ASTALDI

Court hearing for the approval of composition with creditors.

BORSA ITALIANA

European Union antitrust regulators on Monday warned about the possible anti-competitive effects of the London Stock Exchange’s $27 billion bid for data and analytics company Refinitiv as they launched a four-month investigation into the deal. The European Commission said it was concerned about the combined company’s large market share in the trading of European government bonds because both LSE’s MTS trading venue and Refinitiv’s Tradeweb are already market leaders.

DIARY

Special ‘Telefisco’ videoforum online edition with Economy Minister Roberto Gualtieri, tax agency Director Ernesto Maria Ruffini (0700 GMT).

Bank of Italy presents via videoconference annual report on “The Economy of Sardegna region” with Director General Daniele Franco (1500 GMT).

Leonardo holds workshop on “The Evolution of Cyber Risk and the Impacts on the Life of Italian Companies and Citizens” with Cyber Security Division head Barbara Poggiali (0800 GMT).

State lender Cassa Depositi e Prestiti (CDP) holds online presentation of CDP Venture Capital Fondo Nazionale Innovazione 2020-2022 industrial plan with Industry Minister Stefano Patuanelli, CDP CEO Fabrizio Palermo, CDP Venture Capital President Francesco Bria, CDP Venture Capital CEO Enrico Resmini (0840 GMT).

Italian luxury goods association Altagamma holds webinar on “Altagamma Consumer and Retail Insight 2020” with President Matteo Lunelli Altagamma, Director General Stefania Lazzaroni (0830 GMT).

‘Online Fashion & Luxury Talk’ on “Fashion and new business models” Italian Fashion National Chamber (CNMI) President Carlo Capasa, Hèrmes Italian unit CEO Francesca di Carrobio, Italian luxury goods association Altagamma President Matteo Lunelli, Giglio Group CEO Alessandro Giglio (0800 GMT).

IR Top holds online event on “Smart Tech & Industrial AIM” with Digital Magics CFO Alessandro Malacart, Websolute CEO Lamberto Mattioli, Ilpra CEO Maurizio Bertocco (0900 GMT).

Groupama holds videoconference on “Insurance and Private Capital” (0900 GMT).

Rome, Transport Minister Paola De Micheli and Industry Minister Stefano Patuanelli speak before Chamber of Deputies Transport Committee on the state of air transport with particular reference to Alitalia and the airport system (1030 GMT).

Rome, culture and Tourism Minister Dario Franceschini speaks before Chamber of Deputies Industry Committee on the Government’s initiatives to support the tourism sector seriously damaged by the epidemiological emergency (1000 GMT).

Rome, Chamber of Deputies Speaker Roberto Fico attends online presentation the annual report of the Data Protection Authority (1300 GMT).

Rome, Chamber of Deputies Speaker Roberto Fico receives Ambassador of the Kingdom of Morocco Youssef Balla (1500 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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