November 27, 2019 / 5:00 AM / 16 days ago

Italy - Factors to watch on Nov. 27

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 .

POLITICS

Economy Minister Roberto Gualtieri said on Tuesday Italy will not need help from the euro zone bailout fund, and alarm over the way it is being reformed is misplaced.

Gualtieri also said the Italian economy would grow this year by 0.2% or slightly more, above the government’s most recent official forecast of 0.1%.

Gualtieri is due to speak before the Senate and Chamber of Deputies Finance committees on the ESM bail-out fund reform on Wednesday.

ECONOMY

ISTAT releases November consumer and business confidence data (0900 GMT).

DEBT

Treasury sells 6.5 billion euros new 6-month BOT bills. Subscriptions close at 1000 GMT.

(*) BANCA MONTE DEI PASCHI

Several foreign investment funds, mainly private equity, have started looking at the Italian lender, daily MF said citing Fortress, Bain and Apollo among potential bidders.

ENEL

Europe’s biggest utility aims to spend more to fund growth in clean energy and networks as it speeds up plans to reduce its carbon footprint and meet growing demand for electricity.

The group said on Tuesday it was in no rush to sell its stake in fast broadband unit Open Fiber as phone incumbent Telecom Italia presses ahead with plans to find a partner to fund a tie-up with its smaller rival.

UNICREDIT

Italy’s biggest bank by assets has pledged to halt all lending for thermal coal projects by 2023, joining a growing band of financial companies striving to improve their green credentials.

FIAT CHRYSLER

Italy’s industry ministry pledged 27 million euros in tax benefits for Fiat Chrysler for the production and development of hybrid and electric cars in three of its Italian productions sites.

BPER BANCA

The Italian lender said on Tuesday the capital ratios of the group were significantly higher than the ECB’s minimum capital requirements and that its Phased in CET 1 ratio was 13.23% as of Sept. 30, above the ECB’s minimum CET1 ratio capital requirement of 9% for 2020.

CREDEM

The lender said on Tuesday its capital requirements were significantly higher than the ECB’s minimum capital requirements and that its CET 1 ratio was 13.7%, above the ECB’s minimun CET1 ratio capital requirement of 8% for 2020.

POSTE ITALIANE

Italy’s antitrust authority said on Tuesday it opened a probe over alleged irregular commercial practices in the delivery of mail by the postal operator.

ATLANTIA

A motorway linking the port city of Genoa to Piedmont, in the northwest of Italy, was partially reopened to traffic on Tuesday, the toll-road unit of infrastructure group Atlantia said. (*) Italy’s tax police raided Atlantia’s maintenance unit SPEA office in Genoa to seize documents regarding two bridges of the A26 motorway operated by the toll-road unit of infrastructure group, several Italian newspapers said on Wednesday. SPEA was not available for comment.

ATLANTIA, SIAS

Italy’s government has allocated 250 million euros for the construction and the maintenance of bridges across the country and a further 700 million euros for regional projects aimed at tackling hydrogeological instability, Infrastructure Minister Paola De Micheli said in an interview with Corriere della Sera.

A2A

Italy’s A2A and Czech utility EPH will submit a binding offer for energy company Sorgenia by the deadline of Dec. 15, A2A’s chief executive said on Tuesday.

JUVENTUS, EXOR

The Italian soccer club set a price of 0,93 euros for its previously announced 300 million euros ($330.7 million) right iusse. The price represents a discount of 29% on the theoretical ex-right price (TERP) of Juventus share calculated on closing share price on November 26. Top shareholder Exor, the holding of the Agnelli family, is committed to buy into the capital increase for its portion of the share for 191.2 million euros.

JUVENTUS FC (*) Paulo Dybala curled in a free kick from the unlikeliest of angles to give Juventus a 1-0 Champions League win over Atletico Madrid on Tuesday, which left the Spaniards with a battle to secure a round-of-16 place.

(*) EL.EN

Italian laser equipment maker El.En. said on Wednesday its 50%-owned company Elesta was considering an initial public offering in the first half of 2020.

(*) ALITALIA (unlisted)

The European Commission will give Rome a couple of weeks, or until Christmas at the most, in order to find a new rescue plan for the ailing carrier, la Repubblica reported. It added that if a solution will not be found by then, the European Antitrust will officially declare bankruptcy for Alitalia and condemn a 900-million euro loan given to the airline as state aid.

The Italian government is considering splitting Alitalia into three separate divisions - aviation, ground services and maintenance - as a bid for the whole carrier is no longer an alternative, il Corriere della Sera reported. Lufthansa would be interested in the aviation part and would merge it with its regional division, the report added.

IPO

Yacht maker Sanlorenzo initial public offering starts.

DIARY

Rome, Infrastructure and Transport Minister Paola De Micheli speaks before Senate’s Public Works Committee (1500 GMT).

Rome, Innovation Minister Paola Pisano speaks before Parliamentary Simplification Committee (0730 GMT).

Rome, welfare institute INPS holds seminar on “The debate on fiscal rules in Europe and the proposals of the European Fiscal Board” with President Pasquale Tridico (1600 GMT).

Milan, “Open Banking Forum” with Bank of Italy Deputy Director General Alessandra Perrazzelli, Nexi CEO Paolo Bertoluzzo, Banco BPM CEO Giuseppe Castagna, Illimity Bank CEO Corrado Passera, doValue CEO Andrea Mangoni (0820 GMT).

Turin, “Aerospace & Defence Meetings” ends, Leonardo CEO Alessandro Profumo attends (0840 GMT).

Turin, Agnelli Foundation holds news conference to present its report on school building with President and FCA Chairman John Elkann (1600 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:............................... ($1 = 0.9073 euros)

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