May 14, 2020 / 4:04 AM / 23 days ago

Italy - Factors to watch on May 14

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 .

CORONAVIRUS

Deaths from the COVID-19 epidemic in Italy climbed by 195 on Wednesday, against 172 the day before, the Civil Protection Agency said in Wednesday, but the daily tally of new cases fell to 888 from 1,402 on Tuesday.

POLITICS

The Italian government approved on Wednesday a long-delayed, 55-billion-euro ($59.6 billion) stimulus package aimed at helping Italy’s businesses and families survive the coronavirus lockdown.

ECONOMY

ISTAT releases March foreign trade data (0800 GMT).

FIAT CRHYSLER, EXOR

The Italian-American car maker and French rival Peugeot decided not to distribute a planned ordinary dividend on their 2019 results, due to the current COVID-19 crisis. However they confirmed that preparations for their planned 50-50 merger were advancing well and that the closing of the deal was expected on schedule, before the end of the first quarter of next year.

ATLANTIA

The infrastructure group said that last week traffic on the motorway network its operates in Italy was down 57.2% year-on year.

DIASORIN

The diagnostics group received on Tuesday approval from Canadian authorities to sell its COVID-19 antibody tests but will not supply its testing kits to the Italian government, Chief Executive Carlo Rosa said on Wednesday.

FINCANTIERI

Thyssenkrupp is exploring several strategic options for its warship unit, ranging from combining it with Italy’s Fincantieri to creating a national champion with German peers, a person familiar with the matter said.

Fincantieri board meets on Q1 results.

MEDIASET

The Italian broadcaster has built a stake in German rival ProSiebenSat.1 Media as it sees industry consolidation as inevitable but it will retain a flexible stance and may consider other partners, the group’s CFO said on Wednesday.

PIRELLI

The tyre-maker said it would take its worst hit from the COVID-19 crisis in the current quarter after reporting a 36% drop in first-quarter operating profit.

Investment vehicle Camfin, which holds a stake of just above 10% in the company, said it had finalised a partnership agreement with China’s Niu family to create a joint venture that could allow Camfin to control a 18% stake in the tyremaker.

PIRELLI, PREMBO

Asked about a potential tie-up with premium brakes maker Brembo, which in April said it had bought a 2.43% stake in Pirelli with a “non-speculative, long-term approach,” Pirelli’s chief executive said there was nothing concrete at present but did not rule it out.

(*) INTESA SANPAOLO, UBI BANCA

Intesa Sanpaolo could soon ask the European Central Bank to investigate share transactions among UBI Banca’s investors who are part of the so-called ‘Car’ shareholders’ pact, daily Il Messaggero said on Thursday. Intesa Sanpaolo, which has launched a takeover bid over UBI Banca, suspects that the stake controlled by Car rose above the 19.9% threshold without the ECB’s authorisation, the report added.

(*) TELECOM ITALIA, INWIT

The telecoms group will take a decision at a board meeting on Monday to sell another 8% stake in mast company INWIT, bringing its shareholding below 25%, MF said. The report said that Vodafone, INWIT’s other main shareholder, would also cut its stake by 8% and added that Advent fund might buy the 16% cumulative stake sold by the two telecoms groups.

TOD’S

Sales at the luxury group dropped almost 30% in the first quarter of the year as the coronavirus pandemic forced store closures across the globe.

SAIPEM

The oil services group has been awarded by Nigeria LNG Limited the contracts for the Nigeria LNG Train 7 Project. The overall value of the contracts is above 4 billion dollar and Saipem’s share amounts to around 2.7 billion dollar.

JUVENTUS, ROMA, LAZIO

Italy’s Serie A clubs voted in a favour of re-starting the season on June 13 during a general assembly on Wednesday, if the government allows.

(*) IMA

The group, along with the Angelini’s Fameccanica, is producing machinery needed to make protective masks for a state-coordinated effort aimed at increasing production of personal protective equipment, the national commissioner for the COVID-19 emergency Domenico Arcuri told Corriere della Sera in an interview

(*) ERG

The group said on Thursday it revised downwards by some 4% its full-year consolidated Ebitda guidance after Q1 adjusted net profit was down to 53 million euros.

ENEL

Annual general meeting (1200 GMT).

BANCA GENERALI

Board meeting on Q1 results, followed by conference call (1200 GMT).

SARAS

Board meeting on Q1 results (morning), followed by conference call (1400 GMT).

EDISON

Board meeting on Q1 results.

UNIPOL and UNIPOLSAI

Board meeting on Q1 results.

ARNOLDO MONDADORI EDITORE

Board meeting on Q1 results, followed by conference call.

ENAV

Board meeting on Q1 results.

MASSIMO ZANETTI

Board meeting on Q1 results, followed by conference call (1545 GMT).

RAI WAY

Board meeting on Q1 results, followed by conference call.

DIARY

FT Digital Dialogues “Global Economic Crisis” online conference ends; expected attendees include Bank of Japan Governor Haruhiko Kuroda, French Economy and Finance Minister Bruno Le Maire, Irish EU Affairs Minister Helen Mcentee, Bank of England Governor Andrew Bailey, Sanofi CEO Paul Hudson, Novartis CEO Vasant Narasimhan.

DBRS Morningstar holds webinar on “Coronavirus Update - European Credits’ Rating Actions and Outlook” (1400 GMT).

‘Milano Capitali’ conference ends (0800 GMT); expected attendees include AIFI President Innocenzo Cipolletta, Investindustrial representative Andrea Bonomi, Tamburi Investment Partners Chairman and CEO Giovanni Tamburi, FSI CEO Maurizio Tamagnini, Fondo Italiano d’Investimento SGR President and state lender Cassa Depositi e Prestiti (CDP) Chief Economist Andrea Montanino, Mediobanca Head of Private Banking Angelo Vigano.

Rome, Regional Affairs Minister Francesco Boccia speaks before Chamber of Deputies Fiscal Federalism Implementation Parliamentary Committee (0630 GMT).

Rome, Justice Minister Alfonso Bonafede speaks before Chamber of Deputies Justice Committee on the situation in Italian prisons following the COVID-19 emergency and on the recent measures by the judiciary (1030 GMT).

Rome, Italian Olympic Committee CONI holds extraordinary board meeting.

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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