March 29, 2019 / 5:03 AM / in 25 days

Italy - Factors to watch on March 29

MILANO, March 29 (Reuters) - 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 .

POLITICS

Rome, Cabinet expected to meet to approve package of measures to spur growth between Friday and Monday April 1.

ECONOMY

The Bank of Italy appointed Fabio Panetta as its new deputy governor on Thursday and named two new executive board members.

ISTAT releases flash March CPI and HICP data (1000 GMT).

Rome, Bank of Italy holds annual general meeting (0900 GMT).

Rome, Energy Authority AEEGSI expected to release energy and gas fees effective from April 1, 2019.

TELECOM ITALIA (TIM)

Annual general meeting (1000 GMT).

Warring investors will put their jostle for board seats at the Italian phone group to another shareholder vote on Friday but the focus is already shifting to a potential truce. Vivendi, which is seeking to replace Chairman Fulvio Conti and four other Elliott-backed directors, is expected to lose the vote.

BANKS

Italy is amending securitisation rules to ease sales of so-called ‘unlikely-to-pay’ (UTP) loans by allowing banks to transfer related financing commitments, according to a draft bill.

BANCO BPM

The bank said on Thursday it was in talks with Credito Fondiario and illimity to sell a bad loan portfolio worth up to 778 million euros comprising mainly leasing contracts. (*) According to Il Messaggero, Chief Executive Giuseppe Castagna has told the bank’s board the two offers are not satisfactory at the moment adding he hoped to strike a deal by the end of April. Castagna also said a new three-year plan for the bank’s remaining bad loans would be ready by the end of 2019 and centre on managing the loans internally without resorting to sales, the daily added.

UBI BANCA

The Italian lender said on Thursday it would book 64 million euros in gross charges in the first quarter after signing an agreement with unions over voluntary redundancies.

FIAT CHRYSLER

Fiat Chrysler Automobiles said on Thursday it will eliminate one shift at its Windsor, Ontario, assembly plant where it builds minivans, resulting in the loss of 1,500 jobs.

ENI

A U.S. appeals court on Thursday supported a lower court’s finding that Italian oil producer Eni breached a contract with offshore drilling contractor Transocean Ltd, but voided a $160 million damages award.

It sent the damages decision back to the District Court to recalculate damages based on what work the rig could have performed.

(*) SALINI IMPREGILO

The Italian construction company has won a 608 million euros contract for a section of high-capacity railroad construction between Naples and Bari. Salini is the leader of a consortium that includes also Astaldi.

BUZZI UNICEM

Barclays raised the target price of the Italian cement maker to 21 euros from 20 euros.

BANCA FARMAFACTORING

BFF Luxembourg launched on Thursday the placement of up to 22 million of ordinary shares (about 12.9 percent of capital) of the Italian credit management company through an accelerated bookbuilding process, the bookrunner said.

Following completion of the placement, BFF Lux will continue to be the main shareholder of BFF.

AQUAFIL

Three Hills Capital Partners placed 5.75 percent of capital of the Italian company at 9.66 euros per share through an ABB.

ANIMA HOLDING

Annual and extraordinary shareholders’ meetings (1000 GMT).

GRUPPO CERAMICHE RICCHETTI

Finkéramos SpA ends takeover offer on Gruppo Ceramiche Ricchetti ordinary shares.

IPO NEXI

The Italian payments group expects its shares to debut on the Milan stock market on April 16 with a free float of up to 43.2 percent of capital, Nexi said after receiving a green light to the listing from markets watchdog Consob. Banking shareholders Banco BPM, Banca Popolare di Sondrio , Credito Valtellinese , ICCREA Banca and Banca di Cividale will sell about 21 million shares in the IPO, Nexi added in a statement.

Board meetings on FY results: ALFIO BARDOLLA TRAINING GROUP , AMBROMOBILIARE, ASKOLL, BOMI ITALIA, CFT, COMER INDUSTRIES, DBA GROUP, ENERGICA MOTOR COMPANY, ESAUTOMOTION , GAS PLUS, GPI, GRIFAL, ICF GROUP, ILLA, ILPRA, LUCISANO MEDIA GROUP, M&C, MITTEL, MONDO TV , MONNALISA, NOVA RE, PLT ENERGIA , ROSETTI MARINO, ROSSS, SCIUKER FRAMES, SG COMPANY, SOL, THESPAC , TISCALI (1400 GMT), VIMI FASTENERS , VISIBILIA EDITORE, WM CAPITAL.

DIARY

Assisi, Prime Minister Giuseppe Conte attends ceremony with King of Jordan Abdullah II, German Chancellor Angela Merkel (1100 GMT).

Milan, start of two-day conference on “New Frontiers in Banking: from Corporate Governance to Risk Management” (0645 GMT); expected attendees include BNL BNP Paribas Group CEO Andrea Munari, UniCredit Chairman Fabrizio Saccomanni, ECB official David Marques.

Verona, ‘World Congress of Families - WCF’ starts, with Family Minister Lorenzo Fontana (to March 31); opening ceremony at 0700 GMT.

Sannazzaro de’ Burgondi, news conference to present agreement between Eni and Italian Biogas Consortium (CIB) with Agriculture Minister Gian Marco Centinaio, Eni representative Giuseppe Ricci, CIB President Piero Gattoni (1100 GMT).

Vicenza, 2001 Economy Nobel prize winner Michael Spence, Italian state railways Ferrovie dello Stato CEO Gianfranco Battisti attend conference “Città Impresa 2019” (to March 31).

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:............................... (Reporting By Viviana Venturi)

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