October 16, 2018 / 6:52 AM / a month ago

Italy - Factors to watch on Oct. 16

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 (*) The Italian cabinet on Monday signed off on an expansionary 2019 budget, boosting welfare spending, cutting the retirement age and hiking the deficit to set up a showdown with authorities in Brussels over compliance with EU rules. (*) For a FACTBOX on the 2019 bugdet click on

Rome, European Parliament President Antonio Tajani and Deputy Prime Minister and Interior Minister Matteo Salvini attend general assembly of Unindustria (1030 GMT).

Spoleto, Deputy Prime Minister and Interior Minister Matteo Salvini attends police ceremony (1300 GMT).

ECONOMY

ISTAT releases August orders and sales data (0800 GMT); September final CPI and HICP data (0900 GMT); August foreign trade data (1000 GMT).

Rome, Prime Minister Giuseppe Conte speaks before Senate (0730 GMT) and Chamber of Deputies (1330 GMT) ahead of European Council meeting.

Rome, Economy Minister Giovanni Tria speaks before Supervisory state broadcaster RAI Committee (1200 GMT).

Milan, opening conference ‘allfunds academy’ on “Business Transformation in Asset/Wealth Management” with Bank of Italy representative Carmelo Barbagallo (1515 GMT).

COMPANIES (*) ATLANTIA, AUTOGRILL

Infrastructure fund F2i is weighing options to buy a significant stake in Atlantia’s motorway unit Autostrade per l’Italia, Il Sole 24 Ore reported. The newspaper added that CEOs of Atlantia and Autogrill are at loggerheads with the head of the holding company of the Benetton family Marco Patuano.

(*) ASTALDI, SALINI IMPREGILO

Salini Impregilo is interested in taking the construction assets of struggling group Astaldi, Il Messaggero said.

(*) ENEL

Enel said on Tuesday it will increase its stake In Enel Americas by up to 5 percent.

(*) TELECOM ITALIA

Time will show that the stock is undervalued, Telecom Italia CEO Amos Genish said on Monday in Brussels citing a consensus target of 0.83 euros for Telecom Italia’s shares, Il Sole 24 Ore reported. Genish also praised the new CEO of Tim Brasil Sami Foguel.

(*) BANCA CARIGE

The lender will prepare a plan to launch a 200-million-euro bond to boost its capital base by end-October, Il Messaggero said, adding the issuance could be a convertible bond.

Spinelli, who owns a stake of less than 2 percent in the bank, is ready to buy part of a subordinated bond the lender has to issue to boost its capital base, according to Corriere della Sera.

(*) ALITALIA, LEONARDO, POSTE

EasyJet is still interested in Alitalia, if restructured, a spokesman for the low-cost carrier said on Monday, Corriere della Sera reported. The newspaper also cites Lufthansa, Delta, Wizz Air and China Eastern as possible suitors for the Italian airline.

The government may ask Poste Italiane and Leonardo to support a new rescue plan for Alitalia, Il Messaggero said.

ENI

BP and Eni are to start drilling in Libya within months, the Telegraph said.

UNIPOL

CEO Carlo Cimbri and President of IEO-European Onmcology Istitute attends IEO presentation of research programme (0715 GMT).

MEDIOBANCA

CEO Alberto Nagel attends news conference by Cometa to present a project (0900 GMT).

FALCK RENEWABLES

CEO Toni Volpe attends conference on the future of the Italian electric market, with Acquirente Unico President and CEO Andrea Peruzy (0730 GMT).

IPO PIOVAN IPO-PIOV.MI

Italy’s Piovan has revised the price range of its initial public offering to the lower end of earlier guidance, according to a note to clients issued by a bank involved in the process.

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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