September 9, 2019 / 4:01 AM / a month ago

Italy - Factors to watch on Sept. 9

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 new government led by Prime Minister Giuseppe Conte seeks to win a confidence vote in the lower house of Parliament.

Italy’s new government should not challenge European Union fiscal rules when it submits its draft 2020 budget to Brussels next month, the head of the euro zone finance ministers, Mario Centeno, said.

ECONOMY

ISTAT releases 2017-2019 research and development in Italy (0800 GMT).

OECD releases July composite leading indicator (1000 GMT).

Italy’s new government should not challenge European Union fiscal rules when it submits its draft 2020 budget to Brussels next month, euro zone finance minister head Mario Centeno said in an interview with Reuters on Sunday.

DEBT

Rating agency Moody’s on Friday left unchanged its rating on Italy’s sovereign debt at ‘Baa3’, with a stable outlook.

Treasury announces sale of BTP bonds, with relative amounts to be auctioned on Sept. 12.

COMPANIES (*) ENI, LEONARDO, POSTE ITALIANE, ENAV, MONTE DEI PASCHI

A plan, dubbed ‘Capricorn’, to transfer stakes in state-owned companies from the Treasury to state lender Cassa Depositi e Prestiti may be the only option for new Economy Minister Roberto Gualtieri to seek to at least partially meet an 18 billion euro target in privatisation revenues this year, la Repubblica reported.

FERRARI

Charles Leclerc triggered a frenzy of Ferrari celebration on Sunday after holding off a race-long Mercedes challenge to take the Italian Formula One team’s first home grand prix victory since 2010. (*) Ferrari will reveal its latest sports car on Monday as the Italian premium automaker pursues an aggressive roll-out of new models to sustain its turbo-charged core earnings and share price growth. (*) FINECO

The asset manager could win access to the Italian ‘Patent Box’ tax relief scheme by the end of the year, la Repubblica’s A&F reported on Monday.

(*) MEDIASET, MEDIASET ESPANA

Mediaset Espana on Monday is expected to announce the number of investors who have exercised their withdrawal right ahead of a reverse merger of the Italian broadcaster’s domestic and Spanish businesses into a Dutch holding, Affari & Finanza/La Repubblica reported on Monday.

FIAT CHRYSLER

French Economy Minister Bruno Le Maire on Saturday poured cold water on the possibility of merger talks between Fiat Chrysler and Renault resuming any time soon, saying the priority for the French car maker was to strengthen its alliance with Nissan and warning against doing “two things at the same time.”

CARIGE

The Malacalza family, Carige’s single largest investor, is not happy with the bank’s rescue plan and has asked lawyers to look at legal options, Il Sole 24 Ore said on Saturday.

To win the support of the Malacalza family, other shareholders in Carige could offer the family of entrepreneurs the possibility to appoint a board member, Corriere della Sera said on Sunday. The newspaper also said no negotiations were currently underway between the Malacalzas and other investors in Carige.

ATLANTIA

According to Saturday’s Il Sole 24 Ore, the group has short-listed four bidders for its automated toll-road payments system Telepass: an Italian consortium comprising FSI, SIA and Generali and three foreign private equity funds - Apax, Partners Group and Warburg Pincus. Atlantia is planning to sell a big minority stake, with a valuation for the whole company pinned at 2 billion euros. The preferred bidder should be picked in early autumn, the paper said.

MONCLER

Protests in Hong Kong do not pose any financial risk to the group, Moncler told Il Sole 24 Ore on Sunday, adding the fashion label would act on variable costs and inventory handling to tackle potential impact from the Hong Kong unrest. Moncler’s strategy in the area does not change, it also said.

TREVI FINANZIARIA

External auditors have been unable to form an opinion on the group’s financial statements for 2017 and 2018 due to the uncertainties as to Trevi’s ability to continue as a going concern in relation to the execution of the capital strengthening and debt restructuring, the company said on Saturday.

LEONARDO

Issues that led to a profit warning in 2017 have been resolved, CEO Alessandro Profumo told reporters in Cernobbio on Saturday. He said the first six months of the year were ahead of expectations and the market was upbeat about the company’s ability to achieve its business plan.

SNAM

The company is working on a bid for a stake in a $6 billion natural gas pipeline in the United States in what would be the gas group’s first foray outside Europe, four sources told Reuters.

SAIPEM

Asked about possible sale of drilling business, the Italian oil services group’s chairman said on Friday the group is not planning any sale.

ENEL, TELECOM ITALIA

The arrival of a new government in Italy is not expected to affect plans for broadband integration between phone incumbent Telecom Italia and Open Fiber, the chairman of Open Fiber said on Friday.

DIARY

Milan, Cattolica University with Equita and Investment Bank present research on “Sustainability: a tailored evaluation for small- and medium-sized companies” with Equita CEO Andrea Vismara, Garofalo Health Care CEO Maria Laura Garofalo; Enel Chairwoman Patrizia Grieco and market regulator Consob Commissioner Paolo Ciocca delivering closing addresses (1330 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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