March 6, 2018 / 5:00 AM / 9 months ago

Italy - Factors to watch on March 6

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 .

POLITICS

Former Italian prime minister Matteo Renzi resigned on Monday as leader of the centre-left Democratic Party (PD) after a bruising defeat in a national election.

Italian centre-right leader Silvio Berlusconi aims to strengthen a centre-right coalition which won the most seats at a national election in Sunday in order to form a government, his party said in a statement on Monday.

ECONOMY

The uncertainty surrounding Italy’s election vote has no immediate impact on the country’s sovereign credit rating, ratings firms S&P Global and DBRS said on Monday.

ISTAT releases monthly bulletin on the state of the economy in February (0900 GMT).

FIAT CHRYSLER AUTOMOBILES

The car maker is looking to spin off auto-parts business Magneti Marelli to its shareholders via a Milan listing that will not raise money by selling new shares, four sources familiar with the matter said.

TELECOM ITALIA

Activist investor Elliott Management is building a stake in the Italian telecoms operator to counter how its largest investor Vivendi is running the company, Bloomberg reported, citing sources.

The board meets to approve 2017 earnings and a new business plan.

La Stampa reported the group could announce it will return to pay a dividend and possibly say it is looking at deals involving tower masts unit INWIT. Former Ansaldo STS executive Stefano Siragusa could be appointed as head of the group’s fixed-line network which Telecom Italia is expected to spin off, the paper said.

LUXOTTICA

The Italian eyewear group said on Tuesday it had acquired a 67 percent stake in Fukui Megane, a family-owned Japanese manufacturer specialising in the production of titanium and solid gold spectacles.

BANCA MONTE DEI PASCHI DI SIENA

CEO Marco Morelli is working to identify cost cuts for up to 100 million euros the bank will be forced to make if it fails to meet goals set by the EU Commission under its restructuring plan, Corriere della Sera reported. The paper said the first quarter was proving disappointing in terms of revenues and profitability, adding Morelli was looking to cut general and consultancy spending, as well as sell more assets including some properties.

POSTE ITALIANE, ASSICURAZIONI GENERALI, UNIPOL

Italy’s post office is discussing possible partnerships in non-life insurance with players such as Unipol and Generali, Il Sole 24 Ore reported. Generali would be the preferred choice for an exclusive, wider ‘bancassurance’ cooperation which is also being considered and could even entail Poste taking a stake in the insurer, the paper added.

FINECOBANK

The online bank does not envisage any extraordinary operations, its CEO told Il Sole 24 Ore when asked if FinecoBank could play a role in the reorganisation of the asset management sector.

UNICREDIT

The bank said the last trading date for savings shares would be March 9.

DANIELI & C.

Board meeting on H1 results.

GRUPPO WASTE ITALIA

Board meeting on 2016 and 2017 FY results.

PININFARINA

News conference to present “World Debuts 2” with Chairman Paolo Pininfarina and CEO Silvio Pietro Angori (1315 GMT).

SAIPEM

Releases FY results, followed by conference call (0930 GMT).

BANCA CARIGE

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

BANCA IFIS

Board meeting on FY results (preliminary FY results on Feb. 8) followed by conference call.

TELECOM ITALIA

Board meeting on FY results, also on 2018-2020 industrial plan.

UBI BANCA

Board meeting on FY results (preliminary FY results on Feb. 8).

YOOX NET-A-PORTER

Board meeting on FY results (preliminary FY results on Jan. 15), followed by conference call (1700 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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