September 26, 2019 / 4:01 AM / 3 months ago

Italy - Factors to watch on Sept. 26

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 .

POLITICS

Rome, Cabinet meeting (1430 GMT).

Bank of Italy’s Deputy Governor Fabio Panetta is the only candidate to replace Benoit Coeure at the board of the European Central Bank, the head of the Eurogroup of euro zone finance ministers Mario Centeno said on Wednesday.

ECONOMY

ISTAT releases July and August non-EU foreign trade data (0800 GMT).

DEBT

Treasury sells 6.5 billion euros 6-month BOT bills. Subscriptions close at 0900 GMT.

TELECOM ITALIA (TIM)

The chairman of the Italian telecoms group may announce his resignation at a board meeting on Thursday, in a move to help smooth relations between the company’s main shareholders. Chief Executive Luigi Gubitosi or another member of the board could take on the chairman role on an interim basis while the company looks for a permanent replacement, a source close to the matter said. (*) Former UBS executive Innocenzo Cipolletta could be appointed as new chairman, daily La Repubblica said. Open Fiber’s chairman Franco Bassanini is also a candidate, according to daily La Stampa.

(*) FIAT CHRYSLER

Goldman Sachs bankers started working on the possible sale of the group’s automation unit Comau, Mf said.

(*) UBI

The bank has no M&A dossier on the table, but its main shareholder wants to be ready when the time for a merger comes, the chairman of Fondazione Cuneo, which owns 6% of the lender, said in an interview with Il Sole 24Ore.

BANCA CARIGE (shares suspended from trading)

Credit agency Moody’s placed the Italian lender’s issuer ratings under review for an upgrade, following shareholders’ approval of a rescue plan.

(*) POPOLARE DI BARI (unlisted)

The Italian cooperative bank is close to making three acquisitions, including a small bank, chief executive Vincenzo De Bustis said in an interview with daily Il Sole 24 ore published on Thursday.

(*) ALITALIA (unlisted), ATLANTIA

Under a rescue plan for the troubled carrier, Delta Air Lines might increase its stake to 12% from a previously agreed 10% previously, with an investment of 120 million euros, daily La Repubblica said, adding that Italy’s Treasury would take a 15% stake. State railways FS and infrastructure group Atlantia are expected to buy a 36.5% stake each, the report said.

The Italian government wants Delta to increase its stake to at least 15%, il Correire said.

AUTOGRILL

The Italian caterer holds a board meeting on revenues as of Aug. 31.

IREN (*) The regional utility plans to increase its core profits by 200 million euros ($219 million) in six years, to over one billion euros, thanks to organic growth and synergies.

Iren will present its industrial plan to 2024 to nalysts in Milan at 0830 GMT.

AS ROMA

AS Roma suffered their first season’s Serie A defeat as Atalanta stunned the capital side with a 2-0 win at the Stadio Olimpico on Wednesday.

(*) LAZIO

The Rome’s soccer club lost 1-0 to Inter in Milan.

DIARY

Milan, conference on electric mobility starts (0800 GMT); ends on Sept. 28. Expected attendees include regulatory Authority for energy, networks, environment ARERA President Stefano Besseghini, Infrastructure and Transports Minister Paola De Micheli and Undersecretary Salvatore Margiotta.

Lido di Venezia, Banca Ifis holds annual “NPL Meeting 2019”; ends on Sept. 27 (1200 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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