November 7, 2019 / 5:02 AM / 5 days ago

Italy - Factors to watch on Nov. 7

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 .

ECONOMY

ISTAT releases September retail sales data (0900 GMT).

DEBT

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on Nov. 12.

COMPANIES (*) UNICREDIT, MEDIOBANCA, GENERALI

Italy’s largest bank UniCredit sold its 8.4% stake in investment bank Mediobanca through an accelerated book building, at a price of 10.53 euros per share, in a move that could shake up the country’s financial landscape.

The shares were bought mostly by Anglo-Saxon investors and not a single share went to the bank’s biggest shareholder Leonardo Del Vecchio, according to La Repubblica.

In an interview with La Stampa, Ennio Doris the chief executive of Mediobanca shareholder Mediolanum said he and the other historic shareholders of the investment bank backed its management. Doris also said that he thought Generali was “safe” for the time being thanks to the presence of Italian shareholders - Del Vecchio, Caltagirone and the Benettons - who hold a combined 14 % stake in the bank.

The newspaper also said that Del Vecchio wanted to replace UniCredit and Bollore Group - which is also expected to sell its Mediobanca stake soon - with Italian investors.

UniCredit on Thursday posted a 1.1 billion euro ($1.2 billion) net profit for the third quarter, meeting expectations thanks to trading gains which offset a drop in interest income.

Conference call (0900 GMT) and news conference (1300 GMT).

(*) GENERALI

Italy’s biggest insurer reported a rise in 9-months profit on Thursday that was broadly in line with market estimates, though capital ratios fell due to regulatory changes and low interest rates.

Conference calls with journalists (0700 GMT) and with analysts (1100 GMT).

(*) SALINI IMPREGILO

The company launched the placement of new shares for 600 million euros on Thursday.

BANCO BPM

Italy’s third biggest bank is on track to pay out its first dividend since it was created in 2017, its chief executive said on Wednesday. The lender posted a fall in third quarter net profit with lower interest income and core revenues, but still beat estimates from eight analysts polled by Reuters

TOD’S

The Italian luxury group posted a fall in nine month revenues and said it would be “challenging” to meet analysts’ full year profit forecasts as it steps up investments to bolster sales hit by a weak domestic market and turmoil in Hong Kong.

CREDITO VALTELLINESE

The bank can speed up the pace of bad loans’ disposal to beat its 2020 target, its Chief Executive said on Wednesday. Conference call (0730 GMT).

DOVALUE

Board meeting on Q3 results, followed by conference call (0930 GMT).

BREMBO

Board meeting on Q3 results (0830 GMT) followed by conference call (1300 GMT).

BANCA IFIS

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

MASSIMO ZANETTI

Board meeting on Q3 results, followed by conference call (1645 GMT).

BRUNELLO CUCINELLI

Board meeting on Q3 results (net revenues), followed by conference call (1700 GMT).

LEONARDO

Board meeting on Q3 results, followed by conference call (1730 GMT).

CREDITO VALTELLINESE

Conference call on Q3 results (0730 GMT).

BANCA MEDIOLANUM

Board meeting on Q3 results (0900 GMT).

TELECOM ITALIA (TIM)

Board meeting on Q3 results.

FINCANTIERI

Board meeting on Q3 results.

BUZZI UNICEM

Board meeting on Q3 results.

CREDITO EMILIANO

Board meeting on Q3 results.

ITALGAS

Board meeting on Q3 results, conference call (1630 GMT).

BPER BANCA

Board meeting on Q3 results (press release on Nov. 8).

UNIPOL and UNIPOLSAI

Board meeting on Q3 results (press release on Nov. 8).

CATTOLICA ASSICURAZIONI

Board meeting on Q3 results (press release on Nov. 8).

M&C

Last trading day.

DIARY

Rome, Industry Minister Stefano Patuanelli due to speak about Ilva before Chamber of Deputies (1300 GMT) and Senate (1530 GMT).

Florence, national notary congress “Legality at the center. Growing up in compliance with the law” starts; ends on Nov. 9. Opening ceremony with Chamber of Deputies Speaker Roberto Fico, Prime Minister Giuseppe Conte, Justice Minister Alfonso Bonafede (1400 GMT).

Florence, Prime Minister Giuseppe Conte attends conference “We differently equal - Family, work, society”.

Rome, Interior Minister Luciana Lamorgese speaks befeore Senate Shenghen Committee (1300 GMT).

Rome, Senate Finance Commissione examines the budget bill (0800 and 1400 GMT).

Bergamo, “Festival 4.0” starts; ends on Nov. 10. Expected attendees include Alitalia special administrator Stefano Paleari, state railways Ferrovie dello Stato CEO Gianfranco Battisti, Infrastructure and Transport Minister Paola De Micheli, UBI Banca CEO Victor Massiah.

Milan, ‘Made in Italy 2019 TOP Companies’ conference ends with interview with Brembo Chairman Alberto Bombassei(1330 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:...............................

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