June 3, 2019 / 4:03 AM / 2 months ago

Italy - Factors to watch on June 3

The following factors could affect Italian markets on Monday.

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 will present an ultimatum to fractious ruling parties on Monday to speed up government action or face his resignation, Italian newspapers La Repubblica and Il Corriere della sera reported.

The Italian government is confident it can reach a compromise with Brussels and avoid sanctions over its deteriorating public finances, the economy minister said as talk of a looming government crisis grew.

European Economic Commissioner Pierre Moscovici said on Sunday that the EU’s executive arm will make proposals next week aimed at resolving its dispute with Italy over its budget deficit. Moscovici said he preferred dialogue to sanctions as a means to enforce the bloc’s budget rules.

DEBT

Italy’s Treasury has decided to skip the spring offering of its “BTP Italia” bond for the first time since it started selling this type of inflation-linked debt to small savers in 2012, a source with knowledge of the matter said.

ECONOMY

IHS Markit releases May manufacturing PMI (0745 GMT).

Transport Ministry releases May car sales data (1600 GMT).

May state sector borrowing requirement data.

FIAT CHRYSLER

Fiat Chrysler is discussing a Renault special dividend and stronger job guarantees in a bid to persuade the French government to back its proposed merger between the carmakers, sources close to the discussions said.

TELECOM ITALIA

The board of communications watchdog AGCOM will meet on Monday to discuss the level of access TIM is granting to rivals on its fixed-line infrastructure competition and the fees they should pay, Il Messaggero said on Saturday.

(*) BANCO BPM

Italian retail bank Chief Executive Officer Giuseppe Castagna said on Monday that M&A will be part of its new business plan, which is expected in autumn.

BANCA CARIGE

Il Sole 24 ore said on Saturday that private equity fund Apollo had expressed “concrete interest” for the bank, adding a bank could also play a role in the rescue of Carige as an industrial partner.

ENEL

Italy’s largest utility said on Friday it had closed the sale of renewable capacity in Brazil for about 660 million euros.

MEDIOBANCA

The Italian financial group has appointed two executive vice chairmen at its corporate and investment banking division, an internal memo seen by Reuters on Friday showed.

(*) PIRELLI

Berenberg has raised its recommendation to ‘hold’ from ‘sell’ and has cut the target price to 5.40 euros from 6.50 euros. Jefferies has cut its target price to 5.5 euros from 6.3 euros.

CREDEM

Fitch confirmed on Friday the lender’s long-term issuer default rating at ‘BBB’ with a negative outlook, while cut its short-term one by one notch to ‘F3’ from ‘F2’.

ASTALDI

The troubled Italian builder has appointed Paolo Amato as chief restructuring officer to support the company in the ongoing turnaround.

BANCA FARMAFACTORING

“BFF 2023” plan presentation in London (0930 GMT).

CASTA DIVA GROUP

Board meeting (1000 GMT).

NET INSURANCE

Ordinary shareholders’ meeting (1300 GMT).

Trade ex-dividend: BIODUE of 0.10 euro per share; EMAK of 0.045 euro per share; FIRST CAPITAL of total of 0.704 euro per share of which: 0.250 euro per ordinary share and assignment of ordinary shares in the ratio of 1 share for every 26 owned equivalent to 0.454 euro per share; FNM of 0.0225 euro per ordinary share; TINEXTA of 0.228 euro per share.

DIARY

Rome, Italian Prime Minister Giuseppe Conte is expected to give a speech on government future (1500 GMT)

Milan, conference on “The Financial Crisis and Economists” with ECB Supervisory Board President Andrea Enria (1530 GMT).

Milan, “FTSE MIB 10-Year Anniversary” with Enel Chairwoman Patrizia Grieco, market regulator Consob Commissioner Carmine Di Noia, FTSE Russell Southern Europe Managing Director Luca Filippa (0700 GMT).

Milan, state railways Ferrovie dello Stato (FS) Group presents 2019 summer timetable with FS CEO Gianfranco Battisti (1330 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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