March 2, 2020 / 5:00 AM / a month ago

Italy - Factors to watch on March 2

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/GENERAL

The death toll from an outbreak of coronavirus in Italy rose by five to 34, the Civil Protection Agency said on Sunday, with the cumulative number of cases totalling 1,694. Schools and universities will stay closed for a second consecutive week in three worst-hit northern regions, where large public gatherings remain banned. Turkey on Sunday banned all flights to and from Italy, while both the United States and Japan advised their citizens not to travel to swathes of the north, including tourist hotspots like Venice.

ECONOMY

Italy will introduce this week measures worth 3.6 billion euros ($3.5 billion) to help the economy withstand the coronavirus crisis, Economy Minister Roberto Gualtieri said on Sunday. The minister adds that the 2019 budget deficit came in at between 1.6%-1.7% of GDP against an original target of 2.2%.

IHS Markit releases February PMI manufacturing (0845 GMT)

ISTAT releases 2019 GDP data (1000 GMT)

Transport Ministry releases February car sales data (1700 GMT)

February state sector borrowing requirement data.

INTESA SANPAOLO, UBI BANCA

Intesa Sanpaolo said on Friday it had hired JP Morgan, Morgan Stanley, UBS and local broker Equita SIM to complete a team of advisers led by Mediobanca supporting Italy’s biggest retail bank in its takeover offer for rival UBI Banca.

UBI, which is already working with Credit Suisse on its defence strategy, is set to enlist also Goldman Sachs to study ways to fend off Intesa’ bid, a person familiar with the matter said on Friday.

The bank said that two of its employees based in Lombardy region tested positive for coronavirus. In a statement issued on Friday the lender said that the colleagues in contact with the workers tested positive were asked to remain in quarantine.

ENI

CEO Claudio Descalzi said in an interview in Saturday’s La Repubblica the group’s new long-term decarbonisation plan called for a certain continuity in management, adding he would be pleased to be able to carry through the strategy and mould the team to make the transition irreversible.

In an interview in Il Fatto on Sunday, Prime Minister Giuseppe Conte said the government had as yet taken no decision on whether it would reappoint Descalzi as CEO or not. He said one principle he applied in these matters was “everyone is useful, but noone is irreplaceable”.

Federated Hermes, the U.S. investment company which focuses on active responsible investing, said Eni’s decarbonisation strategy offered vital support for the goals of the Paris Agreement. “We look forward to continuing our engagement with Eni on the implementation of these plans,” Engagement Professional Andy Jones said.

MONTE DEI PASCHI DI SIENA

Italy is yet to get a definitive answer from EU competition authorities on a plan to rid Monte dei Paschi of most of its soured loan and ease an expected merger, a government source said on Saturday, adding however there had been progress on the issue.

UNICREDIT

A Milan-based employee at UniCredit has tested positive for coronavirus, Italy’s biggest bank said on Friday.

CNH

CNH Industrial N.V. has announced the extension for one additional year of its 4 billion euro committed revolving credit facility to March 2025.

ATLANTIA

The company said on Friday that Chief Executive Carlo Bertazzo has also become Director General as of March 1.

ITALIAN BANKS

Moody’s does not expect the coronavirus outbreak in its current form to materially affect the sector’s capital and liquidity buffers. However, the impact on banks could become more materially negative if the outbreak spreads, of if current restrictions on movement to and from affected areas, and the consequent suspension of business activity, is prolonged and broadened.

ALITALIA

EU competition enforcers opened on Friday an investigation spurred by complaints over a 400-million-euro ($434.7 million) loan due to be granted by Italy to its struggling carrier Alitalia.

Alitalia said on Friday it was reducing flights on 38 national and international routes because coronavirus was leading to fewer passengers.

ERG

ERG majority shareholder San Quirico said on Friday it had requested the introduction of a loyalty share scheme.

POSTE ITALIANE

Italy’s post office will reopen some branches on Monday in the two areas of the country that were sealed off last week to contain the biggest outbreak of coronavirus in Europe.

PIRELLI

Board meeting on FY results (preliminary results on Feb. 19).

SARAS

Board meeting on FY results (morning), followed by conference call (1500 GMT).

DIARY

Rome, Infrastructure and Transport Minister Paola De Micheli convenes main logistic and transport associations (1400 GMT).

Milan, market regulator Consob presents annual report on corporate governance (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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