May 9, 2019 / 4:04 AM / 2 months ago

Italy - Factors to watch on May 9

MILAN, May 9 (Reuters) - 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

The Italian government has no intention of pushing the budget deficit above the European Union’s limit of 3 percent of gross domestic product, Economy Minister Giovanni Tria told financial daily Il Sole 24 Ore.

Italy’s coalition parties vowed on Wednesday to patch up their differences and govern for four more years, after Prime Minister Giuseppe Conte sacked a junior minister involved in a corruption scandal despite resistance from the League party.

DEBT

Italian government bond yields rose on Wednesday on concerns over tension within Rome’s ruling coalition, with 10-year bonds rising 10 bps to 2.689 percent at one stage, pushing the gap over Germany to 273 bps, its widest in over two months. .

Treasury announces sale of BTP bonds, with relative amounts, to be auctioned on May 14.

(*) UNICREDIT

Italy’s biggest bank by assets stuck to its targets for 2019 after posting a net profit of 1.39 billion euros, up 24.7 percent from a year earlier and above analysts’ expectations.

(*) TERNA

Italian power grid operator reported a net profit of 186 million euros in the first-quarter, up 1.8 percent from the same of the previous year. The company said that revenues increased 2.7 percent to 537 million euros.

CREVAL

Italian mid-sized bank Creval reported a net profit of 8.4 million euros in the first quarter of the year versus a loss of 30.1 million euros in the same period of 2018. The bank said a new three-year business plan will be presented on June 18.

ENI

A Nigerian court on Wednesday dismissed government claims that subsidiaries of Eni and Petrobras illegally exported crude oil to the United States, but a lawyer representing authorities in the West African country said an appeal had been launched.

ENEL

Europe’s biggest utility said on Wednesday its ordinary core earnings in the first quarter rose 13.9 percent to 4.454 billion euros, above an analyst consensus of 4.278 billion euros.

LEONARDO

Italian defence group confirmed its full-year guidance on Wednesday as it reported double-digit growth in new orders and revenue for the first quarter.

(*) CARIGE

An investment committee at U.S. fund BlackRock has rejected a planned acquisition of the Italian bank, Italian daily La Repubblica said on Thursday.

MEDIASET ESPANA, MEDIASET

The Spanish group controlled by Italian broadcaster Mediaset reported a 53.1 million euro net profit in the first quarter of the year, slightly down from 53.2 million euro a year ago, the company said on Wednesday.

BRUNELLO CUCINELLI

Italian fashion group Brunello Cucinelli reported a 8.1 percent growth in revenue to 160.4 million euro in the first quarter, matching an analyst consensus.

BANCO BPM Italy’s third largest bank said on Wednesday bad loans as a proportion of total loans would fall to 9.9 percent after it struck a deal to sell a leasing soured debts portfolio with a nominal value of about 650 million euros.

Net profit at the end of first quarter came in at 150.5 million euros, down 32.6 percent from a year ago.

UBI BANCA

Italy’s fifth biggest lender shares ended Wednesday trading session up 4.8 percent as the bank posted better than expected revenues in the first quarter after it increased the rates it charges for customer loans.

(*) ASSET MANAGERS

The Italian government published on Wednesday a decree to implement a new Individual Savings Plan (PIR) scheme, which is aimed at encouraging investment in small and medium-sized firms.

The government has amended the legislation on PIRs in the 2019 budget by imposing minimum investment amounts in venture capital and in components of the Aim Italia bourse segment dedicated to SMEs.

(*) M&A - SORGENIA

Tha advisor Lazard has received expressions of interest from potential bidders for the Italian energy company, Il Sole 24 Ore newspaper said. Czech energy group EPH in team with Italian energy company A2A is among the bidders, the newspaper added.

BANCO DI DESIO E DELLA BRIANZA

Annual and extraordinary shareholders’ meetings (0800 GMT) and board meeting on Q1 results.

RECORDATI

Meets analysts (1030 GMT) in London; CFO Fritz Squindo presents Q1 results; CEO Andrea Recordati presents 2019-2021 business plan.

MEDIOBANCA

Board meeting on Q3 results, followed by conference call (1230 GMT).

Annual general meetings: BUZZI UNICEM (0830 GMT), DIGITAL360 (1000 GMT), SCIUKER FRAMES (0900 GMT), SG COMPANY (1300 GMT).

CFT

Annual and extraordinary shareholders’ meetings (0830 GMT).

Board meetings on Q1 results: AZIMUT, BPER BANCA followed by conference call (1600 GMT), BUZZI UNICEM , DIASORIN followed by conference call, MONCLER followed by conference call (1630 GMT), UNIPOL GROUP, UNIPOLSAI, ALERION CLEAN POWER , ANIMA, BANCA IFIS, BANCA MONTE DEI PASCHI DI SIENA followed by conference call (1100 GMT), BANCA POPOLARE DI SONDRIO, BANCA PROFILO , BE, BREMBO (0730 GMT) followed by conference call (1200 GMT), CATTOLICA ASSICURAZIONI (press release on May 10), CEMENTIR followed by conference call, CREDITO EMILIANO, D’AMICO INTERNATIONAL SHIPPING followed by conference call (1200 GMT), DEA CAPITAL, DE’ LONGHI followed by conference call, DOBANK, EQUITA GROUP, FALCK RENEWABLES, FINCANTIERI, INDEL B , ITALMOBILIARE, MAIRE TECNIMONT, MASSIMO ZANETTI followed by conference call (1530 GMT), RCS MEDIAGROUP, SAFILO followed by conference call (1745 GMT), TOD’S, followed by conference call (1545 GMT).

Conference calls on Q1 results: CREDITO VALTELLINESE (0600 GMT), ITALIAONLINE (0830 GMT), TERNA (0730 GMT).

DIARY

Rome, INPS President Pasquale Tridico speaks before Chamber of Deputies Labor Committee (0730 GMT).

Rome, Leonardo CEO Alessandro Profumo informally speaks before Senate Defence Committee (0700 GMT).

Milan, La Scala Philharmonic orchestra holds news conference to present “Concert for Milan” with Milan Mayor Giuseppe Sala, Filarmonic President and UniCredit Chairman Fabrizio Saccomanni, Allianz Italian unit CEO Giacomo Campora, Filarmonic Director Riccardo Chailly (1400 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:............................... (Reporting By Viviana Venturi)

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