May 8, 2018 / 4:02 AM / 14 days ago

Italy - Factors to watch on May 8

The following factors could affect Italian markets on Tuesday.

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, “World Press Freedom Day 2018” with Senate Speaker Maria Elisabetta Alberti Casellati, Chamber of Deputies Speaker Roberto Fico; videomessages by U.N. Secretary General Antonio Guterres and European Commissioner for Human Rights Dunja Mijatovic (0730 GMT). (*) President Sergio Mattarella called on Monday for Italy’s bickering parties to rally behind a “neutral government”, saying the only alternative would be a swift re-vote after March’s inconclusive election.

ECONOMY

Rome, Economy Minister Pier Carlo Padoan (1015 GMT) and state auditor representatives (1600 GMT) speak before Chamber of Deputies and Senate special committees.

Bank of Italy releases April data on Target 2 liabilities and European Central Bank funding to Italian banks.

DEBT

Treasury announces sale of BTP bonds, with relative amounts to be auctioned on May 11.

TELECOM ITALIA

Telecom Italia re-appointed Amos Genish as chief executive on Monday, as the phone group enters a new phase after activist fund Elliott wrestled board control from top shareholder Vivendi. (*) The board and Vivendi are planning to ask for the removal of constraints imposed by the golden power decree last year, Il Sole 24 Ore said. (*) Industry Minister Carlo Calenda is about to send to the prime minister his proposal for a fine to be imposed on Telecom Italia for failing to inform the government last year that Vivendi had taken de facto control of the phone group, Il Sole 24 Ore said.

(*) UNICREDIT

Hedge fund Caius Capital has told European authorities that two-thirds of UniCredit’s equity capital is invalid under EU rules unless the Italian bank converts almost 3 billion euros of complex instruments into ordinary shares, imposing heavy losses on some investors, the Financial Times said. UniCredit said in an emailed statement “the regulatory treatment of the Cashes shares has been fully disclosed to the market and confirmed and reviewed by the competent regulators”.

The lender has sent out the teaser for the sale of another 1 billion euros worth of, largely unsecured, non-performing loans, MF said. The binding offers could arrive by June or July why the closing is expected after the summer break, the paper added. (*) FIAT CHRYSLER

The carmaker is considering putting between 1.5-2 billion euros of debt into parts maker Magneti Marelli when it is spun off later this year, MF said, adding the amount was higher than previously planned because of potentially pending fines over emissions from the United States.

BANCA CARIGE

An arbitration college in Milan threw out a request by Banca Carige to annul a distribution agreement with insurer Amissima Vita. The agreement had been signed when Amissima Vita and Amassima Assicurazioni had been sold to Amissima Holdings owned by Fondo Apollo.

SALVATORE FERRAGAMO

Italian luxury goods group Salvatore Ferragamo still has work to do to turn itself around, its chairman said on Monday, as the company warned currency swings and a bias in sales towards lower-margin goods could hit results this year.

FINCANTIERI

Conference call on Q1 results (0700 GMT).

(*) ITALGAS

Conference call (1300 GMT).

The company said first-quarter net profit stood at 74.7 million euros, in line with a consensus provided by the company.

(*) F.I.L.A.

The company said late on Monday its subsidiary Dixon Ticonderoga Company had agreed to buy all of the shares of Pacon Holding Company for an enterprise value of $325 million and $15 million in tax benefits.

(*) PARMALAT

Last year was difficult but it’s time to “act decisively to turn the page” even though it is “going to take some time”, CEO Jean-Marc Bernier told La Repubblica in an interview. The company plans to focus more on higher-margin products and to boost its yoghurt and cheese segment, he added.

BREMBO

Board meeting on Q1 results (0730 GMT).

CAMPARI GROUP

Board meeting on Q1 results, followed by conference call (1100 GMT).

CREDITO VALTELLINESE

Board meeting on Q1 results.

DIASORIN

Board meeting on Q1 results, followed by conference call (1300 GMT).

FINECOBANK

Board meeting on Q1 results.

INDEL B

Board meeting on Q1 results, followed by conference call.

INTESA SANPAOLO

Board meeting on Q1 results, followed by conference call (1300 GMT).

LEONARDO

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

PIAGGIO GROUP

Board meeting on Q1 results, followed by conference call (1230 GMT).

RECORDATI

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

SNAM

Board meeting on Q1 results, followed by conference call (1430 GMT).

PRYSMIAN

Merger with General Cable to be authorised by European Commission Antitrust Authority.

INTEK GROUP

Bond holders’(1100 GMT) and annual (1200 GMT) and saving shareholders’ meetings (1500 GMT).

TECHNOGYM

Annual and extraordinary shareholders’ meetings (0800 GMT).

INNOVATEC

Bond holders’ meeting (1230 GMT).

Annual general meetings: GRUPPO CERAMICHE RICCHETTI (0730 GMT), IVS GROUP (0900 GMT), KOLINPHARMA (1300 GMT), SABAF (0830 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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