March 21, 2018 / 5:03 AM / 4 months ago

Italy - Factors to watch on March 21

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 .

DEBT

Treasury announces sale of CTZ and BTPei bonds, with relative amounts to be auctioned on March 26.

BANKS

A ruling by Italy’s constitutional court 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 was delayed to Wednesday, sources said.

ATLANTIA

Atlantia has no plans to buy all of Spanish telecom towers group Cellnex which is controlled by its bid target Abertis, the Italian firm’s chief executive Giovanni Castellucci has said.

CREDITO VALTELLINESE

Creval’s share issue which ended on Tuesday was fully subscribed for 699.7 million euros, the Italian mid-sized lender said in a statement.

(*) UNIPOL, BPER BANCA

Unipol has sent a letter to the board of Bper Banca urging the latter to appoint a stronger new board when the current one comes up for renewal, but without asking to be represented among its directors, Il Sole 24 ore said.

(*) EDISON

The company is set to create a newco for its E&P activities and is looking for an industrial or financial partner for exploration in the Mediterranean and in the North Sea, La Repubblica said, citing management comments to unions. (*) BANCA CARIGE

The bank’s board will meet on Tuesday to launch a process for the sale of around 1.5 billion euros of non-performing loans, Il Messaggero said. Raffaele Mincione has raised his stake in the bank to above 7 percent and three foreign funds aligned with him are getting their stake towards 4.99 percent, the paper added.

(*) LEONARDO

The defense group could hire between 500-600 people after an agreement with unions over 1,100 voluntary early retirement exits, Il Messaggero said, citing the company’s CEO Alessandro Profumo. The executive added that the company’s helicopter unit “has almost resolved all its problems”.

(*) TELECOM ITALIA

There is pressure on deputy chairman Giuseppe Recchi to resign, Il Sole 24 Ore said. Former CEO Franco Bernabe could take over Recchi’s mandate over security and Sparkle, and temporarily could also take on the executive functions held by chairman Arnaud de Puyfontaine, who may suspend them while the strategy discussions with activist investor Elliott are ongoing, the paper added.

GENERALI, BANCA GENERALI

Banca Generali and Generali Italia have renewed their agreements for the bank’s distribution of Generali insurance products, reinforcing commercial synergies and opportunities, the two companies said in a joint statement.

UNICREDIT

Several funds holding a combined stake of around 1.6 percent proposed two candidates for the bank’s board of directors ahead of a shareholders meeting on April 12 on top of the list already presented by the board, the bank said on Tuesday.

A2A

The utility is working on further acquisitions of smaller companies a local level to grow, CEO Valerio Camerano said after presenting the company’s business plan to 2022.

The utility is also interested in private equity group Terra Firma’s sale of solar power assets in Italy and is considering whether to bid for them in partnership with others, Camerano added.

YOOX NET-A-PORTER

The company said Chief Executive Federico Marchetti had tendered his shares in the takeover offer launched by Richemont.

FIAT CHRYSLER

Chairman John Elkann attends news conference by Agnelli Foundation to present “School of Entrepreneurship & Innovation” in Turin (1430 GMT).

MAIRE TECNIMONT

Chairman Fabrizio Di Amato receives honour degree in chemical engineering by Politecnico University in Milan (1630 GMT).

HERA

The company said its subsidiary Hera Comm had purchased 49 percent of Sangroservizi, a company which offers natural gas sales to roughly 7,000 customers, from the municipalities of Atessa, San Vito Chietino and Paglieta.

CATTOLICA ASSICURAZIONI

Releases FY results.

IMMSI

Board meeting on FY results.

RAI WAY

Board meeting on FY results, followed by conference call.

TERNA

Board meeting on FY results (preliminary FY results on Feb. 20).

ALFIO BARDOLLA TRAINING GROUP

Annual general meeting (1000 GMT).

DIGITAL360

Extraordinary shareholders’ meeting (1430 GMT).

ACOTEL

Board meeting on FY results.

BANCA INTERMOBILIARE

Board meeting on FY results (preliminary FY results on Feb. 9).

B&C SPEAKERS

Board meeting on FY results (1000 GMT).

ESPRINET

Board meeting on FY results.

FILA

Board meeting on FY results.

MITTEL

Board meeting on FY results (of 15 months: Oct. 1, 2016-Dec. 31, 2017).

MONRIF

Board meeting on FY results.

POLIGRAFICI EDITORIALE

Board meeting on FY results.

TAS GROUP

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

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