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Italy - Factors to watch on March 29
March 29, 2017 / 4:04 AM / 8 months ago

Italy - Factors to watch on March 29

The following factors could affect Italian markets on Wednesday.

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

ISTAT releases March consumer and business confidence data (0800 GMT).

DEBT

Treasury sells 6.5 billion euros 6-month BOT bills. Subscriptions close at 0900 GMT.

COMPANIES

ITALIAN BANKS

Banca Popolare di Vicenza posted a 1.9 billion euro ($2 billion) loss for 2016 and said it had suffered severe deposit outflows, raising questions over whether it will be deemed viable by regulators that must approve its request for state aid. (*) The CEO of Banca Popolare di Vicenza will go to Frankfurt on Thursday to discuss with European Central Bank’s officials the possibility to be eligible for a precautionary recapitalisation, MF reported. (*) State funds may be used in vehicles aimed at buying banks’ bad loans, a document prepared for the upcoming meeting of European Finance ministers said, according to Il Sole 24 Ore.

(*) BANCA INTERMOBILIARE

Veneto Banca will pick advisers to decide on the future of its private bank unit, the lender said in a statement on Tuesday.

TELECOM ITALIA

At the request of Consob the company issued a statement detailing the discussions that took place between its board and auditors over Vivendi’s influence on the company.

It said the auditors had reviewed board decisions since 2015 and concluded that board members had, with a few minor exceptions, always backed the positions of directors appointed by Vivendi.

However, the company said its board members - in rejecting the auditors’ conclusions - had ruled out having been swayed by Vivendi’s representatives and said their decisions had been taken independently.

It added that two of its board members had proposed strengthening checks and balances procedures on a voluntary basis for deliberations involving Vivendi and board members appointed by the French group. (*) Telecom Italia will ask Italian market watchdog to say whether French media company Vivendi is controlling the Italian group, Il Sole 24 Ore reported. (*) The phone company will take part in upcoming auctions for soccer rights to be broadcasted on its TimVision platform, its CEO said on Tuesday according to some Italian newspapers.

Telecom could also be interested in buying rights to broadcast soccer matches through digital terrestrial television system and could team up with Mediaset on this, opening the way for a compromise between Mediaset and French media company Vivendi, La Stampa reported.

(*) ATLANTIA, SAVE

French fund Infravia and Deutsche Bank will launch a takeover bid on SAVE in the short term and Atlantia is expected to sell its 22 percent in the airport operator, Il Sole 24 Ore reported on Wednesday.

(*) IPO, AC MILAN

Chinese investors in talks to buy soccer club AC Milan aims to list the club on the Chinese stock exchange or on Wall Street in 2018 to repay the costly financing obtained by U.S. private equity fund Elliott, Il Sole 24 Ore reported.

INTESA SANPAOLO

Italy’s biggest retail bank targets a net non performing loan ratio of 6 percent by the end of 2019 from 8.2 percent at the end of 2016, a source with knowledge of the situation said on Tuesday.

PARMALAT

Lactalis reopens takeover bid on Parmalat shares, ends on April 4.

FINCANTIERI

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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