November 6, 2018 / 5:00 AM / 11 days ago

Italy - Factors to watch on Nov. 6

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

Italy’s Finance Minister Giovanni Tria said on Monday the country’s budget for next year will not change despite calls from EU peers and the EU Commission to amend it so that it would be in line with European Union laws.

Euro zone finance ministers said on Monday they agreed with the European Commission that Italy’s 2019 draft budget broke EU budget rules and said they would like Rome to cooperate with the EU executive to prepare a revised draft in line with EU laws.

Rome, Prime Minister Giuseppe Conte and Deputy Prime Minister and Industry and Labor Minister Luigi Di Maio attend conference (0845 GMT).

Milan, cycle and motorcycle ehibition EICMA first of two-day dedicated to the press; expected attendees include Deputy Prime Minister and Interior Minister Matteo Salvini (1000 GMT).

ECONOMY

Markit/ADACI releases October PMI services (0845 GMT).

Rome, Bank of Italy and market regulator Consob hold conference on “Towards the Discipline of the Capital Market Union?” with Bank of Italy Governor Ignazio Visco, Consob Vicar President Anna Genovese (0830 GMT).

ENI

The Italian oil major will look at the Iran sanctions measures to see if it can use Iranian crudes to allow it greater flexibility in procuring supplies, a spokesman said on Monday.

(*) MEDIASET

Italian broadcaster Mediaset has exercised an option to give Sky control of a company that holds the technical, maintenance and administrative assets of its pay-TV unit Premium, Il Sole 24 Ore said on Tuesday. Spokesmen for Mediaset and Sky Italia declined to comment.

Mediaset’s Italian advertising revenues rose 2.5 percent in the first nine month of this year, the company said in a statement.

Investment banks are hypothesizing about a potential tie-up between Mediaset and France’s biggest private TV broadcaster TF1 , Il Sole 24 Ore said.

(*) TELECOM ITALIA

The phone group’s board will discuss on Thursday when to call a shareholder meeting to choose an auditor, a source close to the company said. The shareholder meeting could be a chance for Vivendi to seek an increase in the number of board members to boost its position compared to activist fund Elliott, Il Messaggero said.

Jefferies cut its price target on the stock to 0.75 euros from 1 euro.

(*) TELECOM ITALIA, MEDIASET

An administrative court in the Lazio region has asked the European Court of Justice to rule on the validity of the decision by Italian communications regulator to ask Vivendi to reduce its stake in either Telecom Italia or Mediaset, La Repubblica said.

LUXOTTICA

Leonardo Del Vecchio plans to propose Luxottica Chief Executive Francesco Milleri as CEO of the new merged group EssilorLuxottica, a spokesman for the Luxottica founder said on Monday.

ATLANTIA

Rating agency Standard & Poor’s has cut the rating of Atlantia to BBB from BBB+ citing uncertainty regarding the motorway concession managed by Autostrade unit after the collapse of a bridge in Genoa.

(*) FINCANTIERI

The company has signed a contract for the creation of a cruise hub in Shanghai that will function as an industrial dock to help the construction of two cruise ships whose construction has already been announced in 2017, according to some newspapers.

GAROFALO HEALTH CARE

Ends IPO (started on Nov. 1).

TPS

Capital increase ends (started on Oct. 15).

Board meetings on Q3 results: BANCA GENERALI followed by conference call (1300 GMT), ENEL followed by conference call (1700 GMT), FINECOBANK, INTESA SANPAOLO followed by conference call (1400 GMT), SNAM (also to approve 2019-2022 strategic plan - press release on Nov. 7), UBI BANCA (press release on Nov. 7), BRUNELLO CUCINELLI followed by conference call (1700 GMT), CAMPARI GROUP followed by conference call (1200 GMT), FALCK RENEWABLES, INWIT followed by conference call, ITALIAONLINE, TXT E-SOLUTIONS .

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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