November 13, 2019 / 5:00 AM / a month ago

Italy - Factors to watch on Nov. 13

The following factors could affect Italian markets on Wednesday.

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 .

DEBT

Treasury sells 2.0-2.5 billion euros 0.05% BTP bonds due Jan. 15, 2023; 3.0-3.25 billion euros new 0.85% BTP bonds due Jan. 15, 2027; 1.0-1.5 billion euros following two BTP bonds: 2.70% due March 1, 2047 and 3.85% due Sept 1, 2049. Subscriptions close at 1000 GMT.

MEDIOBANCA

The Italian bank on Tuesday defied calls from its new top shareholder for the bank to return to its investment banking roots by outlining plans to expand its wealth management and consumer credit businesses.

ENEL

Italy’s biggest utility raised its core earnings target for the year after nine-month operating results topped expectations, lifted by its network business in Latin America. Net profit fell 73% to 813 million euros due to impairment charges on some of its coal-fired power plants.

(*) TELECOM ITALIA, ENEL

To facilitate the creation of a new national fast broadband company through the integration of Open Fiber and Telecom Italia, the network could be split in two to avoid potential antitrust concerns, Il Messaggero said. One part would comprise economically-viable areas, the other non-economically viable areas which receive public funding, the daily said, adding infrastructure funds would invest in both companies.

MEDIASET

Italy’s top commercial broadcaster reported a four-fold jump in net profit in the nine months to end-September to 101.5 million euros, as lower costs offset a fall in advertising revenues due to a shortage of high-profile sports events.

Mediaset could lift its stake in German peer ProSiebenSat.1 , a source with knowledge of the matter said on Tuesday but the group’s chief financial officer ruled out a full takeover. (*) Lawyers of Mediaset and Vivendi met on Tuesday to discuss developments in the legal dispute between the two groups, Il Messaggero said, adding the discussion focused on ways for the French group to sell its stake in the Italian broadcaster. Vivendi is asking for an extra 1.2 euros per share on top of the current price, the paper said, without citing sources.

SALVATORE FERRAGAMO

The Italian luxury group posted a fall in third-quarter revenues that dampened signs of recovery in the first half of the year and warned of further weakness ahead under the impact of unrest in Hong Kong and a weak U.S. market.

(*) ASTALDI

With regard to what was reported by media in relation to a probe involving two of the judicial commissioners and the attestor of the creditor composition plan, the company said it had found out about these investigations from the media and confirmed that the Company is continuing its work and carrying out the composition project in the interest of creditors, bondholders, employees, and all the stakeholders.

PRYSMIAN

The world’s largest cable maker’s CEO on Thursday gave guidance for lower core profit this year compared to an indication provided three months ago, due to a slower growth at its telecoms business.

SAFILO

The Italian eye wear maker reported a third-quarter net sales of 212,8 million euros from 208,1 million one yer ago, it said on Tuesday.

DOVALUE

Eurobank’s board concluded on Tuesday that competing offers by U.S. funds group PIMCO and Italian bad loan specialist doValue for the Greek bank’s loan-recovery unit FPS were both satisfactory, banking sources told Reuters.

(*) SALINI IMPREGILO

The Italian builder said on Tuesday a 600 million euros capital increase was fully subcribed.

A2A

Board meeting on Q3 results, followed by conference call (1430 GMT).

TERNA

Board meeting on Q3 results, followed by conference call (1600 GMT).

ARNOLDO MONDADORI EDITORE

Board meeting on Q3 results, followed by conference call.

HERA

Board meeting on Q3 results.

ACEA

Board meeting on Q3 results.

ENAV

Board meeting on Q3 results.

SALINI IMPREGILO

Board meeting on Q3 results.

SNAM

Board meeting on Q3 results (press release on Nov. 14).

DIARY

Bologna, Portugal President Marcelo Nuno Duarte Rebelo de Sousa receives prixe from Bologna University “Sigillum Magnum”, Italian President Sergio Mattarella attends (1400 GMT).

Rome, Bank of Italy Director General Fabio Panetta attends banking association ABI Executive Committee meeting (0900 GMT).

Rome, Foreign Affairs Minister Luigi Di Maio speaks before Chamber of Deputies Foreign Affairs Committee (1300 GMT).

Rome, Industry Ministry Undersecretary Mirella Liuzzi speaks before Chamber of Deputies Transport Committee on 5G and big data (1300 GMT).

Rome, Prime Minister Giuseppe Conte expected to attend conference.

Rome, Industry Ministry Stefano Patuanelli due to attend conference on “Transitione 4.0” (1500 GMT).

Rome, transport and logistics companies association Confetra holds annual assembly; Infrastructure Minister Paola De Micheli delivers closing address (0830 GMT).

Rome, conference on public spending with INPS President Pasquale Tridico; Economy Ministry undersecretary Pier Paolo Baretta delivers closing address (1330 GMT).

Milan, Azimut holds news conference on sustainable investment ecosystem with Chairman Pietro Giuliani (1030 GMT).

Verona, Cariverona Foundation presents “2020-2022 Multiannual Programming Document” with President Alessandro Mazzucco, Director General Giacomo Marino (0930 GMT).

Milan, “Investors’ conference on Italian and European NPLs”.

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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