May 24, 2019 / 4:02 AM / 3 months ago

Italy - Factors to watch on May 24

The following factors could affect Italian markets on Friday.

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

Rome, Prime Minister Giuseppe Conte at working lunch with European Council President Donald Tusk (1100 GMT).

DEBT

Italy will likely axe its customary spring sale of BTP Italia retail bonds, four sources close to the matter said, to avoid a repeat of last November’s flop when Italians were scared off by Rome’s spending plans and a clash with Brussels.

Treasury said on Thursday it would offer up to 3.75 billion euros ($4.2 billion) over the following bonds at auction on May 28.

Treasury announces sale of six-month BOT bills, with relative amounts to be auctioned on May 29.

TELECOM ITALIA

Should a merger with rival broadband group Open Fiber take place, Telecom Italia would retain its network control leaving it open to wholesale competitors, Il Sole 24 Ore reported on Friday.

MEDIASET

Funds such as U.S BlackRock built up short positions on Italy’s biggest broadcaster as they bet any pan-European alliance with other brodcasters would not materialize, MF daily reported on Friday.

UNICREDIT

Recent asset sales by the lender are defensive moves against possible pressure from activist funds for a break-up which the board is opposed to, Il Sole 24 Ore said. The bank’s advisers Goldman Sachs and JPMorgan have warned the board during at least two meetings in recent months that its low market capitalisation exposes it to calls from activist funds for a break-up.

SAFILO GROUP

The Italian spectacles manufacturer said on Friday it had reached an accord to sell its U.S. shop chain Solstice to Fairway, a group of investors active in the eyewear retail business. Safilo said the disposal would help it to focus on its wholesale business, marking a progress in its recovery strategy.

CNH INDUSTRIAL

The truck an tractor maker said on Friday it will restart its buyback program with a repurchase of up 700 million dollar in the company’s common shares.

JUVENTUS FC

Manchester City lawyer and board member Alberto Galassi dismissed rumours coach Josep Guardiola moving to Juventus FC.

ITALGAS

The Italian gas operator said on Thursday it had signed a contract with Greece’s EDA THESS to provide advising on several issues including smart metering, costruction, maintenance and running of gas distribution networks.

GAROFALO HEALTH CARE

Annual general meeting (0900 GMT).

SAES GETTERS

Ends partial and voluntary takeover bid on its own shares.

TELECOM ITALIA (TIM)

Saving shareholders’ meeting (1000 GMT).

Board meetings on FY results: COSTAMP GROUP, IMVEST.

DIARY

Florence, Atlantia Chairman Fabio Cerchiai attends plenary session at “AFIR-ERM “Colloquium Programme” (0645 GMT).

Milan, inauguration ceremony of first experimentation in Italy of advanced vehicle-to-grid services with Nissan Italian unit Chairman and CEO Bruno Mattucci, Enel X unit Global e-Mobility head Alberto Piglia (0900 GMT).

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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