March 20, 2018 / 5:02 AM / a month ago

Italy - Factors to watch on March 20

The following factors could affect Italian markets on Tuesday.

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 .

ECONOMY

Rome, Constitutional Court hearing over appeal against cooperative banks’ reform.

(*) ATLANTIA

Atlantia is likely to exercise an option to buy Abertis’ stake in Cellnex so as to gain a 29.9 percent stake because it wants to avoid having to launch a full takeover bid, Il Sole 24 Ore reported quoting sources. A final decision will be taken at a board meeting just before the option expires on March 23.

(*) TELECOM ITALIA

The company’s board is set to meet on Thursday to address the issue of powers over security matters and the group’s Sparkle unit, Il Sole 24 Ore reported, adding Chief Infrastructure Officer Stefano Siragusa or ex-ambassador Giovanni Castellaneta could be take them on, replacing a Vivendi’s board representative.

BANKS

Italy’s constitutional court meets on Tuesday to rule over an appeal against a landmark reform of large cooperative banks which the government passed in 2015 in an effort to improve governance and make them more attractive for potential investors.

Borja Prado, chairman of Spanish utility Endesa and of Mediobanca’s global coverage, could join Mediaset Espana’s board, in a move that would strengthen ties with Mediobanca, MF reported.

CNH INDUSTRIAL

The truck and tractor maker said on Monday Chief Executive Richard Tobin would step down to pursue another executive opportunity and its board appointed Derek Neilson to replace him in the interim.

FIAT CHRYSLER AUTOMOBILES

The carmaker will never sell the Fiat brand, CEO Sergio Marchionne told journalists on the sidelines of an event, adding the brand had a “great, very specialised future ahead of it”. Beyond Magneti Marelli, FCA will also consider a spin-off of robotics unit Comau but not this year, he added. He dismissed the idea of Tobin becoming his successor, as suggested by Monday’s Corriere della Sera daily.

ASSICURAZIONI GENERALI A decision on the future of Generali Leben could be made before the summer, Giovanni Liverani, the head of Generali Germany, was quoted as saying by Handelsblatt. The paper said several offers have been presented to the Italian company.

STEFANEL

The clothing retailer swung to a net profit of 13.6 million euros in 2017 following a debt restructuring accord with creditor banks, from a loss of 25.5 million euros the previous year.

ORSERO

The group recorded a net profit of 12.8 million euros last year, down from 18.2 million euros the previous year.

Presents FY results (1045 GMT) followed by news conference in Milan (1200 GMT).

CALEFFI

The group posted sales of 57.2 million euros last year, slightly down from 59.2 million euros the previous year.

CATTOLICA ASSICURAZIONI

Board meeting on FY results, press release on March 21.

DATALOGIC

Board meeting on FY results.

ENERVIT

Board meeting on FY results.

IL SOLE 24 ORE

Board meeting on FY results.

PHARMANUTRA

Board meeting on FY results.

POLIGRAFICI PRINTING

Board meeting on FY results.

SIT

Board meeting on FY results.

TELESIA

Board meeting on FY results (1430 GMT).

ZEPHYRO

Board meeting on FY results.

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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