September 27, 2019 / 4:04 AM / 22 days ago

Italy - Factors to watch on Sept. 27

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 .

ECONOMY

ISTAT releases September consumer and business confidence data (0800 GMT).

DEBT

Treasury sells 3.25-3.75 billion euros new 0.35% BTP bonds due Feb. 1, 2025; 2.5-3.0 billion euros 1.35% BTP bonds due April 1, 2030; 500-750 million euros CCTeu bonds due Jan. 15, 2025. Subscriptions close at 0900 GMT.

ENI

Italian oil and gas group Eni ENI.MI said on Thursday its chief executive, Claudio Descalzi, was under investigation for a conflict of interest issue over dealings in the Congo.

Exxon Mobil Corp has agreed to sell its Norwegian oil and gas assets to Var Energi AS for $4.5 billion, ending its production in a country where it started operations more than a century ago. Eni owns 69.6% of Var.

TELECOM ITALIA (TIM)

TIM has presented shareholders of smaller rival Open Fiber a list of funds that could buy into the fast broadband company as part of plans to create a single nationwide fiber network, three sources close to the matter said.

The chairman of the Italian phone group, Fulvio Conti, stepped down on Thursday in a move that signals an easing of tensions between the group’s main shareholders. (*) The new chairman will be nominated by hedge fund Elliott, Il Sole 24 Ore reported.

ALITALIA, ATLANTIA

Delta Air Lines is ready to invest in the rescue of Italian flagship carrier Alitalia but still believes that a 10% stake is the right level of investment, Chief Executive Ed Bastian told Reuters on Thursday.

BPER, BANCO BPM

Italy’s treasury is in talks with the new European Commission to discuss a plan to exit from the lender’s capital, MF reported adding options under discussion are based on stripping bad assets from the rest of the bank. The daily cites Ubi Banca, BPER and Banco BPM among potential partners for a merger with Monte dei Paschi.

(*) IPO

Davidson Kempner, the controlling investor in bad loan specialist Prelios, is evaluating its exit strategy for the Italian company and could decide to list or sell Prelios in 2020, MF reported.

PIRELLI

Pirelli shareholder Camfin said on Thursday it has underwritten a financial instrument which gives the holding company the right to increase its stake in tyremaker to up to 15%.

AS ROMA

The board of the Rome-based soccer club has called an extraordinary shareholder meeting on October 28 to vote a capital increase of up 150 million euros, the company said on Thursday.

TISCALI

The Italian telecom operator reported a 3.7 million euros loss in the first half of 2019 compared to a profit of 3.3 million euros in the same period of last year, the company said on Thursday. The results were dragged down by non-recurring expenses worth 22.7 million euros, the statement added.

HERA

Hera says public shareholders announced the sale of 14.4 million shares, equal to about 1% of share capital, via accelerated bookbuild.

DIARY

Ceglie Messapica, Prime Minister Giuseppe Conte visits San Raffaele Foundation.

Rome, conference on “Improving work-life balance: opportunities and risk coming from digitalization” with Public Administration Minister Fabiana Dadone (0700 GMT).

Milan, conference on electric mobility continues (0730 GMT); ends on Sept. 28. Expcted attendees include Industry Deputy Minister Stefano Buffagni.

Lido di Venezia, Banca Ifis ends annual “NPL Meeting 2019”; main conference “Run the industry” with Banca Ifis CEO Luciano Colombini, UniCredit official Jose Brena, Credito Fondiario Managing Director Iacopo De Francisco, doValue CEO Andrea Mangoni, Economy Ministry representative Stefano Campiello, Intrum Italian unit Chairman Giovanni Gilli, Banca Monte dei Paschi di Siena official Lucia Savarese, Prelios Group CEO Riccardo Serrini (0700 GMT).

Siena, Fincantieri Chairman Giampiero Massolo attends conference (0830 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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