June 25, 2020 / 6:45 AM / 12 days ago

Italy - Factors to watch on June 25

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 .

ECONOMY

ISTAT releases May non-EU foreign trade data (0800 GMT).

DEBT

Treasury sells 3.0-3.5 billion euros CTZ bonds due May 30, 2022 and 1.5-2.0 billion euros new 0.65% BTPei bonds due May 15, 2026. Subscriptions close at 0900 GMT.

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on June 30.

(*) GENERALI, CATTOLICA

Italy’s top insurer Generali GASI.MI will buy a 24.4% stake in smaller rival Cattolica Assicurazione CASS.MI for 300 million euros ($337.41 million) in a deal that will boost Cattolica’s finances amid the coronavirus crisis, the companies said.

Cattolica will also launch a cash call for up to 200 million euros ($224.94 million), which Generali has the option to subscribe on a pro-rata basis, they said in a joint statement on Thursday.

FIAT CHRYSLER

Italy has approved a decree offering state guarantees for a 6.3-billion euro ($7.1 billion) loan to Fiat Chrysler’s (FCA) FCHA.MI Italian unit, the Treasury said on Wednesday, paving the way for the largest crisis loan to a European carmaker.

TELECOM ITALIA (TIM)

Telecom Italia (TIM) said on Wednesday it was set to cash in 1.6 billion euros ($1.8 billion) from the sale of direct and indirect stakes in mobile tower group INWIT , as the phone group presses ahead with its planned debt reduction.

TIM, which will hold a board meeting on Thursday, is also in exclusive talks with U.S investment firm KKR for the sale of a 40% stake of its fixed last-mile network.

A source with knowledge of the matter said that KKR could make a binding offer for TIM’s network asset next month, in a deal that could lay the groundwork for a merger of TIM’s fiber assets with those of rival Open Fiber.

(*) ENEL

Italian State lender Cassa Depositi e Prestiti might exercise a pre-emption right on Enel’s stake in Open Fiber should the Italian utility decide to sell its holding in the broadband infrastructure group, La Repubblica said on Thursday.

(*) UBI BANCA, INTESA SANPAOLO

Parvus Asset Management Europe, a major UBI shareholder, will decide whether to accept Intesa Sanpaolo’s takeover offer for the Italian bank after publication of the official document on the deal, Parvus’ founder said on Wednesday.

Italian market regulator Consob might give green light to the offer document of Intesa Sanpaolo’s exchange offer for rival UBI Banca as early as on Thursday, Il Sole 24 Ore daily reported.

(*) BANCA MONTE DEI PASCHI DI SIENA

The board will meet on Thursay to start examining the plan to split the lender into a good bank and a bad bank, MF said. The bank’s aim is to reach a final decision over the weekend and present the plan to get 9.7 billion euros of non-performing loans off its books to the European Central Bank by the end of the month.

UBI BANCA

The bank said on Wednesday it borrowed 12 billion euros of European Central Bank’s TLTRO3 cheap loans as it reimbursed 10 billion euros it had drawn at a previous ECB’s long-term liquidity offer.

ATLANTIA

The infrastructure group said on Wednesday that traffic on its motorway network was down 22.4% year-on-year as of last week, while passenger at Rome Airports were down 93.3% due to coronavirus emergency.

(*) SS LAZIO

Atalanta won against Lazio 3-2 on Wednesday, damaging the Roman team’s Serie A title hopes.

(*) AS ROMA

AS Roma won 2-1 at home against Sampdoria as they resumed their Serie A campaign following the coronavirus stoppage on Wednesday.

DIARY

ISPI holds online round-table discussion “The crisis of world order after the coronavirus” with Fincantieri Chairman Giampiero Massolo (1600 GMT).

PwC holds webinar on “Italy 2021 - Skills to restart the future. Energy” with Tranport Minister Paola De Micheli, Snam CEO Marco Alvera, Iren CEO Massimiliano Bianco, A2A CEO Renato Mazzoncini CEO Carlo Tamburi (1500 GMT).

Banca Mediolanum Chairman Ennio Doris, illimity Bank CEO Corrado Passera, Technogym Chairman Nerio Alessandri attending TV programme ‘Smart Talk’ on “The new scenarios of the economy” (1300 GMT).

Rome, Culture and Tourism Minister Dario Franceschini speaks before Senate Education Committee (0700 GMT).

Rome, Fiat Chrysler Automobiles representatives due to informally speak before Senate Industry Committee (0630 GMT).

Rome, European Affairs Minister Vincenzo Amendola speaks via videoconference before Senate EU Policy Committee (0630 GMT).

Rome, Foreign Affairs Minister Luigi Di Maio and Defense Minister Lorenzo Guerini speak before Senate and Chamber of Deputies Defence committees on Italy’s participation in international missions (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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