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Italy - Factors to watch on March 13
March 13, 2017 / 7:53 AM / 9 months ago

Italy - Factors to watch on March 13

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 .

POLITICS

Former prime minister Matteo Renzi wrapped up a three-day event on Sunday designed to mark his political comeback and launch his bid to win back leadership of Italy’s centre-left Democratic party (PD). According to Il Messaggero on Sunday, Renzi could include the idea of a 0.05 percent tax on all financial transactions in his platform for the PD primaries.

ECONOMY

ISTAT releases January industrial output data (0900 GMT) and January-December 2016 Italian regions export data (1000 GMT).

Bank of Italy Governor Ignazio Visco attends conference in Rome (0730 GMT).

DEBT

Treasury sells 7.25-9.0 billion euros over four bonds at auction including a new 7-year BTP nominal bond, due May 15, 2024, which carries a 1.85 percent coupon.

COMPANIES

UNICREDIT

The lender has asked for Alitalia’s business plan to be stress-tested to assess how revenues and cash flows would fare under a worst-case scenario, Il Messaggero and Corriere della Sera reported on Saturday. UniCredit declined to comment.

Bank holds board meeting on Monday on FY results (published on Feb.9)

Under the bank’s new governance structures top managers will not be able to exceed three mandates, Il Messaggero said on Sunday. At least 8-9 members from a streamlined board of 15, from a previous 17, will come from the bank’s big investors. (*) Top executive Marina Natale will likely leave the bank, Affari&Finanza reported on Monday, adding the UniCredit CEO wants to reduce the number of top mangers.

ATLANTIA

The Italian toll road operator expects to receive binding offers for a minority stake in its motorway unit Autostrade per l‘Italia (ASPI) by mid-April, its CEO said on Friday. (*) FERRARI, FIAT CHRYSLER

Sergio Marchionne, Ferrari CEO, will get a financial incentive if he remains at the helm of the sports car maker until 2021, Affari&Finanza reported on Monday.

Fiat Chrysler has had contacts with rival Volkswagen for a possible tie-up but negotiations stopped as the German car maker is focused on its own business, L‘Economia reported on Monday.

Jefferies has started coverage of Ferrari with “BUY” with a target price of 70 euros. (*) ASSICURAZIONI GENERALI

Italy’s Amenduni family plans to double its stake in Ferak, a company that owns 1.16 percent in the insurer, L‘Economia reported on Monday. (*) LUXOTTICA

An agreed 31 percent limit to any shareholder’s voting rights would no longer be valid if a shareholder reached two thirds of Essilor-Luxottica’s capital following a buyout offer, Corriere’s L‘Economia weekly said in an interview with Leonardo del Vecchio. Del Vecchio’s holding company Delfin is allowed to launch a takeover bid on Essilor-Luxottica if another shareholder comes to own more than 20 percent of the group, it said.

ENEL, ENI, FINMECCANICA

Italy is working on a plan to transfer its main assets for up to 50-60 billion euros - including stakes in Eni, Enel, Finmeccanica - to a vehicle which it would then sell on the market to raise money to cut the public debt, Milano Finanza reported on Saturday.

ENI

A Nigerian court is expected to rule on Monday on the request by Royal Dutch Shell and Italy’s Eni to lift the temporary seizing of the OPL-245 oilfield.

(*) EI TOWERS, RAI WAY, MEDIASET

A plan to merge Rai Way with the mast company controlled by broadcaster Mediaset is only a first step of a broader project aimed at creating a single tower operator in Italy, Affari & Finanza said on Monday, adding Mediaset is open to discuss the project.

(*) IPO

Consumer electronics retailer Unieuro could secure a market capitalisation of 350-400 million euros through its initial public offering, IFR reported.

(*) AMPLIFON

The group is interested in expanding through acquisitions in Germany, France and Canada, CEO Enrico Vita told Affari& Finanza on Monday. He added the company would increase marketing investments by 10 percent this year.

ANIMA

CEO Marco Carreri told Milano Finanza in an interview on Saturday that the asset manager was still interested in rivals Aletti Gestielle and Arca and considered the former the best fit as the latter had “a very complicated governance.” He also said the start of 2017 had been negatively affected by concerns over Italy’s banking system and political situation, like the end of last year, though the last few weeks had shown an improvement.

ACEA - Approves 2017-2021 industrial plan (preliminary results on Feb. 6).

IL SOLE 24 ORE

Italy’s top financial newspaper holds an extraordinary shareholder meeting on Monday after it emerged last week its editor was being probed for allegedly issuing false corporate statements.

CIR

Board meeting on FY results (0900 GMT).

SIAS-SOCIETA INIZIATIVE AUTOSTRADALI E SERVIZI

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

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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