March 27, 2020 / 5:02 AM / 10 days ago

Italy - Factors to watch on March 27

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 .

GENERAL

Hopes that Italy’s coronavirus epidemic might be in retreat suffered a setback on Thursday when data showed that both the number of new cases and deaths had ticked higher, underscoring how hard it is to halt the disease.

POLITICS

European Union leaders failed to agree on Thursday on the scale of support for their economies battered by the coronavirus, but gave themselves two more weeks to work out details in a dispute between the ailing south and the fiscally conservative north.

Germany views the euro zone bailout fund as the main instrument to help other European countries fight the social and economic impact of the coronavirus crisis, Chancellor Angela Merkel said on Thursday following an European Union leaders summit.

European Union lawmakers approved on Thursday emergency funds to cushion the bloc’s economic slump triggered by the coronavirus pandemic and shore up battered airlines by preserving their landing slots.

ECONOMY

ISTAT releases March consumer and business confidence data (0900 GMT).

DEBT

The Italian treasury said on Thursday it would offer two new BTP bonds with a five-year and a seven-year maturity respectively and a new CTZ zero-coupon bond in the second quarter of this year.

Italy will sell up to 8.5 bln euros in bonds at March 31 auction.

Treasury sells 7.0 billion euros new 6-month BOT bills. Subscriptions close at 1000 GMT.

MEDIASET

German broadcaster ProSiebenSat.1 Media said on Thursday Chief Executive Officer Max Conze had left the company with immediate effect. The news comes days after Italy’s top commercial broadcaster Mediaset increased its stake in ProSieben to just under 20% in a bid that could help it create a pan-European TV platform.

EXOR

The holding company of Italy’s Agnelli family and France’s Covea are committed to finalise a planned sale of re-insurer PartnerRe to Covea despite market turbulence triggered by the conronavirus, daily Il Sole 24 Ore said. The deal makes even more sense now and its terms are not being renegotiated, the report added, citing a source close to Exor.

FIAT CHRYSLER (FCA)

The car maker said on Thursday its plants across the U.S. and Canada intended to remain closed until April 14.

(*) ESSILORLUXOTTICA <ESLX.PA >

The French-Italian spectacles and eyewear maker abandoned its previous financial guidance on Friday, as the maker of Ray-Ban sunglasses takes a hit to its business from the coronavirus crisis, but added that it could not yet assess the fallout.

Its executive vice-chairman said on Friday that the company has not yet taken a decision yet on whether to keep a dividend.

FINCANTIERI

The shipbuilder said on Thursday it extended the suspension of its activities until April 3.

AUTOGRILL, ATLANTIA

Italian travel caterer Autogrill is in talks with airports, motorway operators and other landlords around the world to cut fixed rents, a source close to the company said, as the group faces falling sales due to the coronavirus outbreak.

One source close to the matter told Reuters that Autostrade per l’Italia, part of infrastructure group Atlantia, was open to discuss with both petrol stations and food providers about fixed costs they pay to run their outlets on motorways.

CAMPARI

Annual and extraordinary shareholders’ meetings (0830 GMT).

RCS

The publisher said its full-year net profit fell to 68.5 million euros from 85.2 million euros the previous year.

IL SOLE 24 ORE

The publisher said on Thursday it posted a full-year net loss of 1.2 million euros, versus a 6 million euro loss at end-2018.

IREN

The regional utility said it would start on Friday a second tranche of a buy-back programme on its ordinary shares, worth up to 25 million euros. Goldman Sachs is the intermediary of the deal.

ANIMA HOLDING

Fitch Ratings has placed Anima Holding Long-Term Issuer Default Rating (IDR) and senior unsecured bond rating of ‘BBB’ on Rating Watch Negative (RWN).

AZIMUT

Fitch Ratings has placed Azimut Holding ratings, including ‘BBB-‘ Long-Term Issuer Default Rating (IDR), on Rating Watch Negative (RWN).

MASI AGRICOLA

The wine maker said on Thursday it had cancelled a previous decision to pay a dividend of 0.07 euros a share following the coronavirus outbreak in Italy.

(*) BE

The STAR segment-listed company said on Thursday it had agreed to buy a 51% stake in Doom Entertainment from ZDF, the operational company of Italian singer and producer Fedez, to “create the market leader in production and distribution of digital content”. BE will pay an initial price of approximately 2 million euros for the 51% stake and will enjoy a subsequent earn-out that will allow it to purchase Doom’s entire capital in 2027.

DIARY

Rome, ISS Health Institute holds press conference on trends and updates of the coronavirus emergency, with President Silvio Brusaferro and Head of the National Health Council Franco Locatelli (1030 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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