September 2, 2019 / 4:00 AM / 16 days ago

Italy - Factors to watch on Sept. 2

The following factors could affect Italian markets on Monday.

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 prime minister said on Sunday he expected to finalise talks over a new government by Wednesday, as 5-Star Movement and once bitter adversary Democratic Party were into intense discussion during the weekend to hammer out a deal on a common agenda and cabinet posts.

The 5-Star Movement said later on Sunday its members were called on Tuesday between 0700 and 1600 GMT to give a green light to a potential coalition accord with PD through a web-based ballot on the movement’s internet platform, dubbed Rousseau.

Italy’s outgoing interior minister, Matteo Salvini, has banned another migrant-rescue ship from docking in the country, using the issue of immigration to pile pressure on his main two political rivals as they seek to form a new government.

ECONOMY

HIS Markit releases August manufacturing PMI (0745 GMT).

Transport Ministry releases August car sales data (1600 GMT).

August state sector borrowing requirement data.

COMPANIES (*) BREMBO

The company is looking for the right M&A target, but there is nothing concrete on the table now, Brembo’s Vice Chairman Matteo Tiraboschi told Il Giornale on Monday.

(*) AUTOGRILL

Citigroup has cut the stock to neutral from buy and reduced the target price to 9.5 euros from 13.2 euros.

(*) FERRARI

Ferrari’s Charles Leclerc held off Lewis Hamilton to win his first Formula One race on Sunday in the Belgian Formula One Grand Prix. It was Ferrari’s first win of the season.

(*) SARAS

Morgan Stanley has cut the target price for the stock to 2.1 euros from 2.3 euros.

MEDIASET, VIVENDI

An Italian court ruled in favour of a petition filed by French media giant Vivendi to vote against Mediaset’s reorganisation plan, the two companies said on Saturday, though the decision will not be enough to scupper the deal.

CNH INDUSTRIAL, EXOR

Cnh Industrial’s truck unit Iveco might be bought by an Asian competitor, daily Il Corriere della Sera reported on Saturday without elaborating further, after a source said the Italian-American group, controlled by Exor, was considering a potential Iveco spin-off, to be announced later this week.

Cnh Industrial heavy engines’ unit Powetrain could be included in a potential Iveco spin-off, Il Sole 24 Ore said on Saturday.

After its spin-off Iveco might enter a joint venture on heavy trucks, Il Giornale said on Saturday, citing Paccar’s European unit DAF as a possible partner and adding that Iveco might eventually be sold.

FIAT CHRYSLER

The Italian-American automaker will start producing the new Alfa Romeo SUV Tonale in the third quarter of 2021, Il Corriere della Sera said on Saturday.

BANCA CARIGE (shares suspended from trading)

The struggling Italian lender said on Friday it would swing to profit in 2021 under a rescue plan based on a 700 million euro rights issue that the bank’s shareholders will have to approve on Sept. 20.

Carige added it had received a binding offer from state-owned vehicle SGA to buy 3 billion euros of its soured loans.

MEDIOBANCA, JULIUS BAER

Swiss private bank Julius Baer said on Friday it had decided to keep its Italian subsidiary Kairos after completing a strategic review and as the asset and wealth manager’s performance improves. Mediobanca’s Chief Executive Alberto Nagel had said in May that the Italian investment bank was looking at Kairos as part of plans to expand its wealth management business.

PRYSMIAN

The world’s largest cable maker aims to strengthen its position in the off-shore wind segment, Il Sole 24 Ore said on Saturday, quoting Prysmian’s executive Hakan Ozmen.

ALITALIA (unlisted), ATLANTIA

The ongoing government crisis in Italy might force Rome to postpone a deadline, set for Sept. 15, for state railways Ferrovie, U.S. carrier Delta and infrastructure group Atlantia to officially present a rescue plan for the former flagship airline, Milano Finanza said on Saturday. The report added that a new bridge loan from the Italian government might then be necessary to keep Alitalia operating.

JUVENTUS

Napoli defender Kalidou Koulibaly scored an injury-time own goal to hand Juventus a 4-3 Serie A victory in Turin on Saturday after the visitors had fought back from three goals down.

AS ROMA, LAZIO

A second-half equaliser earned Lazio a 1-1 draw with AS Roma in a fast and furious Rome derby in Serie A on Sunday.

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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