November 9, 2018 / 4:00 AM / 8 days ago

Italy - Factors to watch on Nov. 9

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

Rome, Deputy Prime Minister and Industry and Labor Minister Luigi Di Maio attends a conference (0800 GMT), holds news conference at Foreign Press Association (0900 GMT) and attends TV programme “Accordi e disaccordi” on Chanel 9 (2200 GMT).

Rome, Deputy Prime Minister and Interior Minister Matteo Salvini attends conferences at 0915 GMT and 1000 GMT.

ECONOMY

Bank of Italy releases September data on bank lending and domestic government bond holdings at Italy-based banks.

Rome, Economy Minister Giovanni Tria meets Eurogroup President Mario Centeno (1115 GMT).

Rome, Economy Minister Giovanni Tria, representatives of Bank of Italy, trade unions, insurers’ association ANIA due to speak before Chamber of Deputies Budget committees on mini-budget (from 0900 GMT); to be continued on Monday Nov. 12.

TELECOM ITALIA

Telecom Italia on Thursday said it is no longer able to confirm its net debt to core earnings target for the end of the year, citing adverse competitive and regulatory environment at home and the weakening of the exchange rate in Brazil. The phone group also took a 2 billion euro good will writedown.

The group holds a conference call on results (1300 GMT).

UNICREDIT, INTESA SANPAOLO,, UBI BANCA , MONTE DEI PASCHI, BANCO BPM

Italy’s top five banks have agreed to inject 2.75 billion euros ($3.12 billion) of fresh money into an interbank deposit protection fund (Fitd) to strengthen a safety net against market speculation, Italian newspaper Il Messaggero reported on Friday.

LEONARDO

Italy’s Leonardo said on Thursday it saw sustainable growth in the long-term after it posted a year-on-year rise in third-quarter revenues and orders, lifted by a multi-billion euro helicopter order from Qatar.

The defence group said in a presentation it expected helicopter profitability to go back to double digits in 2020.

UNICREDIT

The bank said on Thursday its CEO would invest 1.2 mln euros in bank’s shares, debt.

(*) CARIGE

Following an inspection of the bank’s credit situation conducted by the Bank of Italy on behalf of the ECB Italy between April and August, Carige was asked for additional provisions “around one hundred million euors”, Il Fatto Quotidiano said, citing sources from the central bank. The bank did not comment.

MARIE TECNIMONT

Maire Tecnimont CEO Pierroberto Folgiero told Reuters on Thursday the sharp fall in the share price after Q3 results was due to “emotivity” not linked the group’s fundamentals. He said the fact that an increase in working capital could weigh on the share price was frustrating. “To pay attention to just one quarterly movement in a company where the life cycle is three years would be paradoxical,” he said. Maire Tecnimont shares fell 7.75 percent on Thursday.

SALVATORE FERRAGAMO

Italian luxury goods maker Salvatore said its outlook for the year remained cautious after posting a 3.3 percent drop in nine-month sales, hit by currency swings and due to weakness in some divisions and geographic areas.

BPER BANCA

The bank reported a Q3 net profit of 50.2 million euros.

The lender CEO Alessandro Vandelli said on Thursday he expected to unveil a new business plan in early 2019.

ATLANTIA

The collapse of a bridge in Genoa, which claimed 43 lives, has cost companies in the Italian city around 422 million euros ($482 million) in damages, the Genoa Chamber of Commerce said. The chamber’s estimate was based on a survey of hundreds of companies affected after the bridge operated by a unit of Italy’s Atlantia collapsed on Aug. 14.

FINCANTIERI

The shipbuilder said on Thursday that nine-month revenue rose to 3.88 bln euros.

Fincantieri holds a conference call on Q3 results: (0800 GMT).

CREDEM

Italian lender Credito Emiliano said on Thursday nine-month net profit rose to 151 mln euros.

FIAT CHRYSLER

Brazil’s President Michel Temer on Thursday signed into law hundreds of millions of dollars in incentives for automakers such as General Motors Co and Volkswagen to produce locally and continue developing engines that run on both gasoline and ethanol. The bill also renews incentives for the car industry to have assembly plants in the poorer Northeast region of Brazil, where Ford Motor Co and Fiat have factories.

ALITALIA

The state appointed commissioners running Alitalia will complete their examination of the proposals received for the sale of the company next week, a source close to the matter told Reuters on Thursday.

EQUITA

The Italian broker said on Thursday its 9-month net profit rose 33 percent year-on-year.

ITALMOBILIARE

The group said on Thursday its Q3 operating result turned to profit of 5.4 million euros.

BANCO DESIO

Banco Desio 9-month net profit fell to23.3 million euros.

TERNIENERGIA

Chairman and CEO Stefano Neri and Softeco Sismat CEO and TerniEnergia adviser Laura Bizzarri present to analysts and press some points of a qualitative nature of the ‘Recovery and Recovery Plan’ in Genoa (0800 GMT).

A2A

Inauguration ceremony for the new plastic recovery plant with Chairman Giovanni Valotti, CEO Valerio Camerano in Cavaglia (1100 GMT).

ALFIO BARDOLLA TRAINING GROUP

‘Investor Day’ (1000 GMT).

CATTOLICA ASSICURAZIONI (*) The company said nine-month net profit rose to 72 million euros from 21 million a year ago.

Results followed by conference call (0830 GMT).

GAROFALO HEALTH CARE

Listing ceremony (0630 GMT).

(*) UNIPOL and UNIPOLSAI

Italy’s second-largest insurer said on Friday its individual solvency ratio fell in the first nine months of this year “mainly due to the increase in the spread on Italian government bonds”.

The insurer’s consolidated net profits rose to 862 million euros ($977.85 million) in the first nine months of this year, from 430 million euros in the same period last year, including a capital gain from the sale of its shares in Popolare Vita, a joint venture with Banco BPM.

Followed by conference call (1100 GMT).

(*) M&A, ALITALIA

Anglo-Canadian fund Brookfield is interested in the new Alitalia that should emerge from a possible tie-up between the airline and railways group Ferrovie dello Stato, Il Sole 24 Ore said, citing financial sources.

Board meetings on Q3 results: TERNA followed by conference call, ANIMA, ATLANTIA, BANCA FINNAT, BANCA MONTE DEI PASCHI DI SIENA, BIALETTI INDUSTRIE, DOBANK followed by conference call, M&C, POLIGRAFICA SAN FAUSTINO , RCS MEDIAGROUP, ZIGNAGO VETRO (0900 GMT).

Conference calls on Q3 results: FINCANTIERI (0800 GMT), TELECOM ITALIA TIM (1300 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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