May 26, 2017 / 6:56 AM / 7 months ago

Italy - Factors to watch on May 26

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

Taormina, G7 head of State and government starts; ends on May 27.

ECONOMY

ISTAT releases May consumer and business confidence data (0800 GMT).

Rome, market regulator Consob holds conference on “Business Judgement Rule and Supervision of Financial Markets”, with President Giuseppe Vegas (0900 GMT).

DEBT

Treasury sells 3.0-3.5 billion euros new CTZ bonds due May 30, 2019 and 0.750-1.5 billion euros following two BTPei bonds: 1.30 percent due May 15, 2028 and 2.55 percent due Sept. 15, 2041. Subscriptions close at 0900 GMT.

COMPANIES

BANCA POPOLARE DI VICENZA, VENETO BANCA

Both banks hold board meetings.

Italy’s economy minister sought to reassure investors on Thursday that they will not be hit in a rescue of two ailing regional banks, Popolare di Vicenza and Veneto Banca, after fears of a full “bail-in” hit the lenders’ debt.

Pop Vicenza said in a statement on Thursday it had started the procedure to issue more bonds guaranteed by the state for up to 2.2 billion euros; Veneto Banca also started the same procedure, for additional bond issues of up to 1.4 billion euros.

(*) BANCA MONTE DEI PASCHI DI SIENA, INTESA SANPAOLO , UNICREDIT

A deal to restructure the debt of energy group Sorgenia paves the way for a possible early repayment of about 200 million euros in debt for the bank shareholders that include Monte Paschi, Intesa, UniCredit and UBI Banca, Sorgenia’s CEO said in an interview in Corriere della Sera. Debt, which stood at 1.7 billion euros in March 2015, is now under 900 million, he said. The deal opens the way for a sale of the group further down the line, he added.

MEDIASET

The Italian soccer league has set June 10 as the deadline to submit bids for Serie A broadcasting rights for the 2018-2021 seasons, a league spokesman said.

(*) BANCA CARIGE, GENERALI

The relationship between the bank’s top shareholder Vittorio Malacalza and CEO Guido Bastianini is said to have deteriorated ahead of the bank’s planned capital increase, Il Sole 24 Ore said. One of the issues is if the cash call fails, Generali may be asked to convert a 80 million euro bond into equity, which would turn the insurer into a significant shareholder and dilute Malacalza’s stake. Generali is said to have no interest in converting the bond, the paper added.

(*) LEONARDO

The new CEO Alessandro Profumo will not allow a breakup of the group, MF said, citing the executive. “I am not here for that”, MF reported him as saying to Leonardo managers.

(*) ASTALDI

The Italian infrastructure company is looking to expand into Argentina, the company’s chairman said on Thursday, as it vies for contracts in a massive government infrastructure push.

CARRARO

Ends capital increase.

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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