March 16, 2017 / 5:01 AM / 8 months ago

Italy - Factors to watch on March 16

The following factors could affect Italian markets on Thursday.

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 .

DEBT

Italy’s Treasury said on Wednesday it would offer its Aug. 1, 2034 BTP nominal bond in exchange for five BTP bonds maturing in 2017 and 2018 at an exchange tender it will hold on March 17.

POLITICS

Italy’s Senate on Wednesday rejected a no-confidence motion against the sports minister - an ally of ex-Prime Minister Matteo Renzi - who is under investigation on suspicion of having revealed court secrets.

COMPANIES

GENERALI

Italy’s biggest insurer hiked its 2016 dividend on Thursday and pledged higher shareholder returns going forward after posting its best net profit in nine years.

Generali, which is seeking to boost its defences against the threat of a possible takeover, also said it would deliver on its promise to cut costs by 200 million euros a year earlier in 2018 rather than 2019. (*) CEO Philippe Donnet told a briefing he saw no threat of a takeover bid for the insurer, either in Italy or abroad.

Conference call on full-year results at 1100 GMT.

POSTE ITALIANE, TERNA

The Italian post office is looking to expand its parcel business through acquisitions and joint-ventures, CEO Francesco Caio told analyst on Wednesday.

Il Messaggero said on Thursday that CEO Francesco Caio will “likely” be replaced by the CEO of Terna, Matteo Del Fante. Il Giornale said Del Fante could be succeeded at Terna by the CEO of Acea, Alberto Irace.

LEONARDO

The Italian state-controlled aerospace and defence group declared its first dividend in six years on Wednesday after a broad revamp by Chief Executive Mauro Moretti, whose future at the company will be decided in the next few days.

Corriere della Sera wrote on Thursday that Moretti will not be confirmed in the job. Il Messaggero said the treasury could make its choices known on Friday after the market close.

The company holds a conference call on FY results at 0900 GMT.

FIAT CHRYSLER AUTOMOBILES (*) European new car registrations for the group rose 8.3 percent in February, the Association of European carmakers said on Thursday.

CEO Sergio Marchionne said on Wednesday that he has “zero interest in pursuing” merger talks with his counterpart at Volkswagen AG.

The European Commission has completed its mediation in a dispute between Italy and Germany over accusations of emissions cheating software in some Fiat Chrysler models, an Italian transport ministry statement said.

SAFILO

The eyewear group said on Wednesday first-quarter results would suffer as problems in the automation of its Padua warehouse would hurt deliveries shaving an estimated 15-20 percent off quarterly sales compared with last year. Safilo said it would try to make up for the delayed deliveries in the second quarter after reporting a 13 percent drop in adjusted core profit for 2016.

BANCA IFIS

Presents FY results and 2017-2019 strategic plan with CEO Giovanni Bossi (1200 GMT).

BANCA POPOLARE DI VICENZA, VENETO BANCA

Veneto Banca said on Wednesday that shareholders’ take-up of a settlement offer was at more than 50 percent of targeted shares.

Bonds issued by Popolare di Vicenza and Veneto Banca slid further on Wednesday on uncertainty over whether Italy can pull off a state bailout of the two troubled regional lenders as a key deadline nears.

The two banks hold board meetings on Thursday.

ALITALIA, UNICREDIT, INTESA SANPAOLO

The airline expects to return to profit by the end of 2019 by cutting operating and labour costs by 1 billion euros ($1.1 billion) over the next three years and revamping its business model for short and medium-haul flights.

(*) UNICREDIT

CEO Jean-Pierre Mustier has bought shares in the bank for 2 million euros, an internal dealing filing showed.

ENAV

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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