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Italy - Factors to watch on Oct. 17
October 17, 2017 / 4:02 AM / 2 months ago

Italy - Factors to watch on Oct. 17

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 .

ECONOMY

Italy’s government approved on Monday a low-key 2018 budget which includes measures to raise youth employment, tackle poverty and encourage investments ahead of an election in the spring.

ISTAT releases August foreign trade data (0800 GMT).

Bank of Italy holds conference on “The Fight Against Money Laundering, International Tax Evasion and the Financing of Terrorism” with Milan’s headquarters Director Giuseppe Sopranzetti in Milan (1230 GMT).

Moody’s holds “Banking Media Briefing” in Milan (1330 GMT).

COMPANIES

BANKS

New European Central Bank rules on impaired debts could hit Italian banks hard and lead them to cut lending to companies, credit rating agency Standard & Poor’s said on Monday.

(*) MONTE DEI PASCHI DI SIENA

Market regulator Consob has asked for more information to be added to the bank’s prospectus to allow its shares to resume trading, la Repubblica said on Tuesday. It said the prospectus could be approved on Friday and the shares could restart trading on Oct. 23.

(*) BANCO BPM

The bank will pick today a new insurance partner in a deal worth around 1 billion euros, several newspapers said. The board will meet to examine the bids put forward by French group Covea Insurance and by Italy’s Cattolica, with the latter seen in pole position, according to Il Sole 24 Ore and Il Messaggero.

(*) CARIGE

The bank’s cash call for up to 560 million euros will start on Nov. 21, Il Messaggero said on Tuesday.

TELECOM ITALIA, VIVENDI

Italy told Telecom Italia on Monday that it wants to have a say in all its strategic decisions, in the strongest sign so far that Rome intends to rein in the growing influence of French group Vivendi over the former state monopoly. (*) Industry Minister Carlo Calenda will meet TIM’s CEO Amos Genish on Thursday, according to Il Sole 24 Ore, which said the main item on the table would be possible separation of the fixed-line network. According to Il Messaggero, the meeting between the two will take place on Friday, and the company will hold an extraordinary board meeting on the same day to discuss the government measures as well as a planned joint venture between TIM and Canal Plus.

M&A, ALITALIA

Germany’s Lufthansa and British budget airline easyJet are two of seven companies that have bid for Alitalia on Monday but the process to rescue Italy’s ailing flag carrier is likely to drag out until late next year.

IL SOLE 24 ORE

A badly-needed 50 million euros ($59.1 million) capital increase at Italy’s top financial daily, Il Sole 24 Ore, will likely start in two weeks’ time, a source close to the matter said on Monday.

ESSELUNGA

Privately-owned Italian food retailer Esselunga expected to issue senior unsecured bond in euros.

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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