March 13, 2020 / 5:02 AM / a month ago

Italy - Factors to watch on March 13

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

Italy rounded on European Central Bank President Christine Lagarde on Thursday after comments that reawakened fears over the country’s public finances as it battles Europe’s worst coronavirus outbreak.

Italy’s death toll from the coronavirus epidemic shot past 1,000 on Thursday as the economic impact worsened, with much of the country at a standstill and the Milan bourse posting its largest ever one-day fall.

MARKETS

Italian market regulator Consob said on Thursday it was introducing an outright short-selling ban on 85 stocks, including all the top names on the Milan bourse, on Friday.

(*) ASSICURAZIONI GENERALI

Italy’s top insurer on Friday confirmed all targets set in its strategic plan through 2021 despite the uncertainty caused by a coronavirus crisis, after posting a record operating profit in 2019.

ITALIAN BANKS

Fitch Ratings on Thursday said it had changed its outlook on Italy’s banking sector to negative from stable due to a coronavirus crisis which will pressure revenues and weaken asset quality amid an economic slowdown and loan payment suspensions.

Pressure on ratings is most likely for banks that have been less proactive in reducing soured loans, with large-scale disposals much more challenging in the current environment. Ratings vulnerability will also be high for banks that are still restructuring due to higher execution risks.

(*) MONTE DEI PASCHI DI SIENA, ENI, ENEL , LEONARDO, TERNA

There is no agreement between the two parties in the ruling coalition on new appointments at state-owned companies whose boards are coming up for renewal, Il Sole 24 Ore reported, adding PM Giuseppe Conte’s proposal to extend the mandates of current top executives given the coronavirus emergency had been rejected.

(*) ATLANTIA

The Italian infrastructure group is still holding discussions with Italian infrastructure fund F2i over the sale of its stake in motorway unit Autostrade per l’Italia, la Repubblica reported.

TOD’S

Italian luxury group Tod’s warned on Thursday that it was difficult to forecast the impact of the spreading coronavirus after 2019 core profits beat market expectations despite ongoing investments to support sales.

LEONARDO

Italian defence group Leonardo said on Thursday that a coronavirus outbreak could cause temporary and selective stops in production at some of its plants, but added the epidemic would not impact its medium-term fundamentals.

MONTE DEI PASCHI

The state-owned bank said on Thursday it would not hold its annual general meeting on April 6 as scheduled due to an escalating coronavirus crisis.

CERVED GROUP

Board meeting on FY results (preliminary results on Feb. 12), followed by conference call.

DIARY

Rome, Italy’s government expected to approve emergency decree to support the economy amid a coronavirus outbreak.

Rome, Labor Minister Nunzia Catalfo expected to announce guidelines on pension reform.

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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