March 9, 2020 / 5:03 AM / 20 days ago

Italy - Factors to watch on March 9

The following factors could affect Italian markets on Monday.

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

OECD releases January composite leading indicator (1100 GMT).

DEBT

Treasury announces sale of BTP bonds, with relative amounts to be auctioned on March 12.

Italy’s Treasury said on Friday it would offer 6.5 billion euros of 12-month BOT bills at an auction on Wednesday.

An official from Italy’s Treasury department told Reuters on Sunday that there would be no change to the schedule for government bond auctions, under which sales of short- and medium-term notes are due to take place this week.

ECONOMY

Italy’s financial markets will open as usual on Monday, but traders are expecting a wild start to the week after the government ordered a lockdown of large parts of the north of the country, including the financial capital Milan, to fight the coronavirus.

Italy ordered a virtual lockdown across much of its wealthy north, including the financial capital Milan, in a drastic new attempt to try to contain a outbreak of coronavirus that saw the number of deaths leap again sharply on Sunday. (*) Italy’s government will further increase spending in a “massive shock therapy” to offset the economic impact of the coronavirus outbreak, the Prime Minister Giuseppe Conte told daily la Repubblica on Monday, adding it would use the flexibility envisaged by European budget rules “in full”.

INTESA SANPAOLO, UBI BANCA

The bank will not raise the value of its bid for smaller rival UBI Banca, the chief executive of Italy’s top retail bank said on Saturday.

Intesa Sanpaolo said on Friday it had filed with market regulator Consob the offer prospectus for UBI Banca bid.

INTESA SANPAOLO

Italy’s top retail bank is ready to donate up to 100 million euros to Italy to tackle the coronavirus outbreak and grant up to 5 billion euros in loans to companies affected by the epidemic, the lender’s chief executive said on Saturday.

UNICREDIT

Independent non-executive director Isabelle De Qismes resigned from the bank’s board, the lender said on Friday.

ITALIAN BANKS

The potential capital increase to rescue cooperative bank Popolare di Bari - put under special administration in December - could rise to 1.6 billion euros from an expected 1.4 billion euros, Il Messaggero reported on Saturday, citing banking sources. The report added that a meeting of the depositor protection fund (FITD) has postponed the decision to March 18.

TELECOM ITALIA

Italy’s competition watchdog said on Friday it had fined the former phone monopoly 116 million euros ($131 million) for abusing its dominant position in the broadband market in an attempt to obstruct the entrance of rivals. TIM said in a note it deemed the decision unwarranted, adding it would appeal it.

Vodafone and Telecom Italia (TIM) on Friday secured conditional EU antitrust approval to merge their mobile tower infrastructure into TIM’s mast unit INWIT.

POSTE ITALIANE

The Italian post office operator pledged to keep mail deliveries and automatic teller services working as it raised its full year sales and earnings targets despite the country experiencing Europe’s most severe coronavirus outbreak.

ATLANTIA The group said on Friday it would push back to Apr. 28 the board meeting that will approve the company’s 2019 full-year results.

FIAT CHRYSLER (FCA)

The Chief Executive of PSA group told La Repubblic on Saturday he would present a strategic plan for the company born after the merger with FCA “rapidly” after the closing of the $50 billion deal.

Asked whether FCA’s Mirafiori plant in Turin could be used to produce electric batteries after the merger, Tavares said “we will look at what is already being done and will try to make the various projects converge”.

MEDIASET

Italy’s top commercial broadcaster will see falling advertising revenues in the next months due to the coronavirus outbreak and the subsequent cancellations of major events, pushing it, like many other TV groups, to review its strategy, Milano Finanza reported. (*) Mediaset said on Sunday it had suspended its ‘Le Iene’ after a person working for the popular TV program had tested positive to coronavirus.

FERROVIE DELLO STATO IPO-FERRO.MI

The railway operator will invite tenders for a total of 20 billion euros for investments in infrastructure and technology by the end of the year, the Chief Executive wrote in a letter to the government, Il Sole 24 Ore reported on Saturday.

AS ROMA

Talks between the Italian Serie A soccer club and a group led by U.S. billionaire Dan Friedsking are slowing down due to the coronavirus outbreak in Italy, Il Messaggero reported on Saturday. The report added that the U.S investors now believes that the price of just over 700 million euros they were ready to pay doesn’t reflect the true value of the club anymore.

(*) JUVENTUS

The club got back to the top of Serie A with a 2-0 victory over title rivals Inter Milan at an empty Allianz Stadium on Sunday.

TISCALI

The company said on Saturday it would postpone its meeting of board of directors to March 30, from the originally scheduled March 18.

GENERALI

Board meeting on FY results (preliminary results on Feb. 10).

ACEA

Board meeting on FY results.

BREMBO

Board meeting on FY results (0830 GMT), followed by conference call (1300 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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