May 23, 2019 / 4:01 AM / a month ago

Italy - Factors to watch on May 23

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 .

POLITICS

Italy’s deputy PM Matteo Salvini said on Thursday tax cuts would be the priority if the League party emerged as leading party in the EU vote.

DEBT

Treasury announces sale of CTZ and BTPei bonds, with relative amounts to be auctioned on May 28.

INTESA SANPAOLO

Italy’s biggest retail bank will offload only up to 50 percent of a 10 billion euro portfolio of so-called “unlikely-to-pay” loans whose sale it is negotiating with Prelios, three sources familiar with the matter said on Wednesday.

(*) BANCA CARIGE

European bank supervisors think Italy’s long-struggling Banca Carige should be closed if it can’t find a buyer, contrary to Rome’s plan for a state rescue, four sources close to the matter said.

Carige’s adviser and the Bank of Italy are looking for a very small bank to merge it with in order to take advantage of a draft amendment that would give it deferred tax assets worth some 700 million euros in the case of a tie-up , Corriere della Sera reported.

UNICREDIT

UniCredit is planning to sell up to 5 billion euros of soured loans in addition to three packages of bad loans dubbed Roma, Matera and Capri worth in total 2.4 billion euros that the bank is currently offering, Bloomberg said on Wednesday.

(*) TELECOM ITALIA

Brazilian wireless carrier TIM Participacoes said on Wednesday it is using equipment provided by China’s Huawei Technologies to conduct fifth-generation wireless technology tests in Florianopolis, a city in the south.

ENI

Ivory Coast has awarded four new offshore oil and gas blocks, two to France’s Total and two to Eni, a government spokesman said on Wednesday.

Libyan eastern commander Khalifa Haftar told French President Emmanuel Macron that conditions for a ceasefire were not in place, although he would be ready to talk if those conditions were met. Eni is the biggest foreign oil and gas producer in Libya.

ENEL

Italy’s biggest utility has completed the refinancing of part of its portfolio of non-convertible subordinated hybrid bonds through a non-binding voluntary exchange offer for the repurchase of hybrid bonds maturing on January 2075 and January 2074, company said on Wednesday.

(*) MAIRE TECNIMONT

Maire Tecnimont said it had won orders worth about $700 million for licensing, engineering services, EP and EPC activities.

AUTOGRILL

Annual general meeting (0830 GMT) and board meeting on Q1 results (revenues).

STMICROELECTRONICS

Annual general meeting.

TITANMET

Board meeting on FY results.

Annual general meetings: BASTOGI (0830 GMT), CONAFI (0900 GMT), ITWAY (0700 GMT).

DIARY

Palermo, Prime Minister Giuseppe Conte attends events in occasion of the 27th anniversary celebration of ‘massacre of Capaci’ (0705 and 0800 GMT).

Rome, state lender Cassa Depositi e Prestiti holds annual general meeting.

Milan, ‘Finance & Banking Summit’ on “Banking and Financial Services in the Fintech Era” with European Commission official Mario Nava, Interbank Fund for Deposit Protection President Salvatore Maccarone, OpenjobMetis CEO Rosario Rasizza (0720 GMT).

Milan, UniCredit ends closed-door conference “Italian Investment Conference 2019” (0630 GMT). Plenary session with UniCredit CEO Jean Pierre Mustier and Co-CEO Olivier Khayat, Lavazza CEO Antonio Baravalle, Italmobiliare CEO Carlo Pesenti, Pirelli CEO Marco Tronchetti Provera.

Milan, AIPB-Private Banking Italian Association holds conference on “Innovative and Alternative Assets for Private Banking: Advantages for the Country and for Performance” with Economy Ministry General Director Stefano Scalera (1430 GMT).

Milan, closed-door event “The Future Makers” organised by Boston Consulting Group ends (0630 GMT); expected attendees include Poste Italiane CEO Matteo Del Fante.

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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