June 7, 2019 / 4:04 AM / 3 months ago

Italy - Factors to watch on June 7

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

The leaders of Italy’s ruling parties Matteo Salvini and Luigi Di Maio said in a statement on Thursday that the government was not about to collapse and pledged constructive dialogue with the European Union on budget rules.

ECONOMY

ISTAT releases April retail sales data (0800 GMT).

Bank of Italy releases May data on Target 2 liabilities and European Central Bank funding to Italian banks.

DEBT

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on June 12.

MEDIASET

The board of the Italian broadcaster will discuss next week a plan to move the company’s legal domicile to Amsterdam, Il Messaggero reported. The change would ease a possible merger with German peer ProSiebenSat.1, Il Messaggero said.

UBI BANCA, MONTE DEI PASCHI, BANCO BPM , CARIGE

A number of banks are gearing up to transfer non-performing real estate loans for up to 2 billion euros to a multi-seller programme run by state-owned bad loan manager SGA with the help of Prelios, Il Sole 24 Ore reported.

MONTE DEI PASCHI DI SIENA, ILLIMITY, DOBANK

The state-owned bank has kicked off the sale of a 600 million euro portfolio, dubbed ‘Ismea’, comprising soured loans backed by agricultural assets, Il Sole 24 Ore reported adding doBank and illimity were in the running to buy it. The paper also said U.S. fund Cerberus was the buyer of a 500 million euro portfolio of unlikely-to-pay real estate loans Monte dei Paschi had agreed to sell.

(*) CERVED

A consortium including the Italian credit manager as well as U.S. funds Elliott and Bain Capital has been shortilisted in the race to buy the bad loan unit of Greece’s Eurobank, in a 200-300 million euro deal, Il Sole 24 Ore reported on Friday. The rival suitor is U.S. fund Pimco, the paper said.

FIAT CHRYSLER

FCA withdrew a proposal to merge with French rival Renault after it became clear discussions could go no further, but it remains “open to opportunities of all kinds”, its chairman wrote in a letter to staff.

France was battling to defend its business strategy on Thursday after being blamed for scuppering a $35 billion-plus merger between carmakers Fiat Chrysler (FCA) and Renault only 10 days after the plan was officially announced.

UBI BANCA, MONTE DEI PASCHI, BANCO BPM , CARIGE

A number of banks are gearing up to transfer non-performing real estate loans for up to 2 billion euros to a multi-seller programme run by state-owned bad loan manager SGA with the help of Prelios, Il Sole 24 Ore reported.

MONTE DEI PASCHI DI SIENA, ILLIMITY, DOBANK

The state-owned bank has kicked off the sale of a 600 million euro portfolio, dubbed ‘Ismea’, comprising soured loans backed by agricultural assets, Il Sole 24 Ore reported adding doBank and illimity were in the running to buy it. The paper also said U.S. fund Cerberus was the buyer of a 500 million euro portfolio of unlikely-to-pay real estate loans Monte dei Paschi had agreed to sell.

ENEL

Enel Russia, a unit of Italy’s biggest utility said on Thursday its board had approved the sale of its largest coal power plant to Kuzbassenergo, owned by Siberian Generating Company (SUEK), for at least 21 billion roubles ($323 million).

GENERALI

Italy’s top insurer said on Thursday it would exercise an early redemption option on a perpetual bond worth 50 million euros.

AEROPORTO Di BOLOGNA

The company said in May passengers reached 818,837, up 12% year-on-year.

NETWEEK

board meeting on FY results.

DIARY

Turin, EFPA-European Financial Planning Association Italian unit ends 2019 meeting; expected attendees include ESMA-European Securities and Markets Authority representative Salvatore Gnoni, Italian market regulator Consob representative Tiziana Togna, Azimut CEO Paolo Martini.

Milan, “People Who Have Something to Say” conference ends (0830 GMT); expected attendees include Cabinet undersecretaries Stefano Buffagni and Giancarlo Giorgetti, Lombardy region Governor Attilio Fontana, Veneto region Governor Luca Zaia, FNM Chairman Andrea Gibelli, Retelit CEO Federico Protto.

Rapallo, first of two-day annual conference organised by employers’ association Confindustria Giovani Imprenditori section “Global, the Connection Economy”. Expected attendees include Snam CEO Marco Alvera, state railways Ferrovie dello Stato CEO Gianfranco Battisti, Banca Mediolanum CEO Massimo Antonio Doris, Lombardy region Governor Attilio Fontana, Cabinet Undersecretary Giancarlo Giorgetti, Fincantieri Chairman Giampiero Massolo, state lender Cassa Depositi e Prestiti CEO Fabrizio Palermo, SACE President Beniamino Quintieri.

Milan, conference on “Italy in Europe: the Burden of Public Choices on Business competitiveness”; expected attendees include Microsoft Italian unit CEO Silvia Candiani, Rothschild Italian unit Chairman Federico Ghizzoni, Eni Chairwoman Emma Marcegaglia, illimity Bank CEO Corrado Passera (0730 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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