March 18, 2020 / 5:01 AM / 14 days ago

Italy - Factors to watch on March 18

The following factors could affect Italian markets on Wednesday.

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 told his fellow European Union leaders on Tuesday that coronavirus was causing a “socio-economic tsunami” across Europe and that dedicated bonds may be needed to cushion the hit, an Italian government source said.

Italy on Tuesday denied it had called for the euro zone’s bailout fund, the European Stability Mechanism, to be activated to help its economy deal with the impact of the coronavirus outbreak.

CORONAVIRUS

Italy will rush 10,000 student doctors into service, scrapping their final exams, in an effort to help the struggling health service cope with the coronavirus which claimed another 345 lives.

The death toll rose to 2,503 over the past 24 hours, the Civil Protection Agency said, while the total number of confirmed cases increased to 31,506 from a previous 27,980 - the largest number outside China.

(*) ECONOMY

Italy’s Economy Undersecretary Pierpaolo Baretta told Il Messaggero that the 25 billion euro package approved by the government to support the economy battered by coronavirus “will not solve the problem” and that Italy could adopt new measures in April, the value of which will depend on level of the emergency. Baretta added that, if necessary, the government should ask Europe for so-called helicopter money.

Should the crisis linked to the coronavirus outbreak in Italy continue, the government will allocate further money to support autonomous workers economically, Labour Minister Nunzia Catalfo told daily Corriere della Sera in an interview.

ISTAT releases January orders and sales data (0900 GMT) and January foreign trade data (1000 GMT).

DEBT

Italy’s Treasury on Tuesday said it would offer three BTP bonds expiring in 2023 and 2024 in exchange for one BTP bond due in July 2022.

MARKET REGULATOR CONSOB

Italy’s market watchdog Consob said on Tuesday it had introduced a ban on net short positions for all the shares negotiated on the Milan bourse to tackle “strong turbulence” on the market due to the coronavirus outbreak.

(*) FIAT CHRYSLER

The Detroit three automakers and United Auto Workers agreed on Tuesday to curtail production at U.S. factories and limit the number of workers on the job at one time to prevent the spread of the coronavirus among roughly 150,000 factory employees.

In February, new car registrations dropped 7.2% to 1.067 million vehicles in the European Union, Britain and the European Free Trade Association (EFTA) countries, statistics by the European Auto Industry Association (ACEA) showed. Fiat Chrysler’s sales went down 6.9% in February.

ENI

Italian energy group Eni on Tuesday said that all its refineries in Italy were working normally, bar two that had partially reduced volumes for maintenance work.

JUVENTUS

Juventus and France midfielder Blaise Matuidi has tested positive for the coronavirus, the Turin-based Serie A club said in a statement on Tuesday.

POSTE ITALIANE

Two employees of the state-controlled group died due to coronavirus, Corriere della Sera reported.

GENERALI, CATTOLICA, UNIPOL

Insurers have been given an extra two years to implement a new accounting rule aimed at increasing visibility into how they make money.

RECORDATI

Board meeting on FY results (preliminary results on Feb. 14).

SNAM

Board meeting on FY results (press release on March 19).

CATTOLICA ASSICURAZIONI

Board meeting on FY results (press release on March 19).

DIARY

Rome, Economy Minister Roberto Gualtieri attends Italian banking association ABI Executive Committee (0900 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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