May 7, 2020 / 4:02 AM / a month ago

Italy - Factors to watch on May 7

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 .

ECONOMY

ISTAT releases March retail sales data (0800 GMT) and monthly bulletin on the state of the economy in April (0900 GMT).

DEBT

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on May 12.

ENEL

Italy’s biggest utility Enel suffered no significant impact from the coronavirus crisis in the first quarter, adding on Wednesday that its core earnings had risen by more than forecast.

ENEL, TELECOM ITALIA

Asked about its fiber optic unit Open Fiber, Enel’s CFO said priorities had changed, adding one priority was to speed up development of this project. He said the COVID-19 crisis had shown the central role of fiber optic networks in a country.

(*) TELECOM ITALIA

The telecom’s group last-mile network - the cables, mostly made of copper, that run from the street to users’ homes - of which TIM is in talks to sell a minority stake to KKR, could be valued at around 7.5 billion euros, including debt, La Repubblica said. The report said TIM hired Lazard to conduct a ‘fairness opinion’ on the asset’s value. La Repubblica added KKR might need more time to make a binding offer and that exclusive talks with TIM might be extended by a few weeks beyond a current end-June deadline.

(*) UNICREDIT

All of the bank’s shareholders agreed on a proposal to cancel a planned divided payment and none of them complained about it, Chief Executive Jean Pierre Mustier told Il Corriere della Sera in an interview. Asked about Italy’s scheme for a state guarantee for loans to businesses, Mustier said the lender was committing several people exclusively to manage the applications and that the process would be running at full steam in the coming days.

(*) CNH INDUSTRIAL

A planned split of the group in two and listing of its truck, bus and engine business, initially scheduled to be completed by early 2021, will be delayed to the second half of next year or even beyond, daily La Stampa said. On Wednesday CNH Industrial officially said the timeline for the project had been extended as a result of the coronavirus crisis.

FIAT CHRYSLER AUTOMOBILES

Fitch said on Wednesday it had affirms Fiat Chrysler Automobiles at ‘BBB-‘; Outlook Stable.

ATLANTIA

Atlantia said on Wednesday that last week traffic on the motorway network it operates in Italy fell 72.6% year-on-year.

(*) CREDITO VALTELLINESE

The lender said its net profit rose to 25.3 million euros in the first quarter from 8.4 million euros in the same period of last year.

Followed by conference call (0600 GMT).

AUTOGRILL

The Benetton family, Autogrill’s biggest investor, proposed to confirm Paolo Zannonni and Gianmario Tondato da Ruos as chairman and CEO of the company at a shareholders’ meeting scheduled on May 21, Autogrill said on Wednesday.

BPER BANCA

Italy’s sixth-largest lender posted an 87% drop in first-quarter profit on Wednesday after further loan writedowns to offset the early impact of the COVID-19 pandemic.

SAFILO

Italian spectacles maker Safilo reported a steep decline in first-quarter sales on Wednesday as the coronavirus prompted the temporary closure of most of its stores.

MEDIOBANCA

Board meeting on Q3 results, followed by conference call (1200 GMT).

SNAM

Snam said on Wednesday its chairman was to step down to launch a private equity fund.

Releases Q1 results (0600 GMT), followed by conference call (1300 GMT).

BANCA MEDIOLANUM

Board meeting on Q1 results (0800 GMT), followed by conference call (1330 GMT).

BANCO BPM

Board meeting on Q1 results, followed by conference call (1630 GMT).

LEONARDO

Leonardo signed new credit facilities worth 2 billion euros

Board meeting on Q1 results, followed by conference call (1630 GMT).

RECORDATI

Board meeting on Q1 results.

ANIMA

Board meeting on Q1 results.

BANCA MONTE DEI PASCHI DI SIENA

Board meeting on Q1 results, followed by conference call (1000 GMT).

BRUNELLO CUCINELLI

Board meeting on Q1 results (revenues - preliminary Q1 results on April 9), followed by conference call (1600 GMT).

GEOX

Board meeting on Q1 results, followed by conference call (1540 GMT).

MAIRE TECNIMONT

Board meeting on Q1 results followed by conference call.

DIARY

Rome, Senate Question time with Industry Minister Stefano Patuanelli, Labour Minister Nunzia Catalfo, Justice Minister Alfonso Bonafede (1300 GMT).

Rome, Culture Minister Dario Franceschini expected to speak before Chamber of Deputies.

Altagamma Monitor Update holds webinar to present situation and prospects of the world luxury market in light of COVID-19 (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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