Italy - Factors to watch on July 4

Pininfarina SpA

04/07/2023 05:00

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
 IT/DIA .

    ECONOMY
    ISTAT releases Q1 deficit/GDP ratio data (0800 GMT).
    
    Italy needs to invest more and step up efforts to meet a
European Union 2030 target for lower carbon emissions, a
government document showed, highlighting the country's
challenges to keep up with EU green ambitions.
    
    Italy's Industry Minister Adolfo Urso said on Monday that
airlines benefiting from the country's tourist boom have hiked
their prices too much, and demanded an explanation.
    Urso instructed the government-appointed inflation watchdog
to summon the main airlines operating on Italian routes for
meetings on Tuesday because current fares "are not justified
even by inflation."
    
    DEBT
    Italy posted a state sector budget deficit of 13.2 billion
euros in June compared to 7.1 billion euros in the same month of
last year, the Treasury said in a statement on Monday.
    The ministry blamed the higher deficit on higher spending on
inflation-linked pension payments, and bigger transfers to local
administrations.

    COMPANIES
    STELLANTIS  STLAM.MI 
    New car sales in Italy in June rose by 9.19% year-on-year
just under 139,000 units, the Italian transport ministry said on
Monday.
    According to Reuters' calculations based on ministry data,
Stellantis' group sales fell by 11.23% year-on-year, leaving it
with a market share of 30.94%.  
    Stellantis said on Monday it would invest up to 200 million
euros ($218 million) to ensure its Italian Mirafiori site, the
historic home of Fiat, remains one of its primary locations for
what it is calling its "green campus" programme.
    
    TECHNOPROBE  TPRO.MI  
    The Italian probe card maker said on Monday it had signed a
binding offer to buy 100% of Harbor Electronics, a U.S. company
specialized in the production of printed circuit boards, from
China's Shenzhen Fastprint Circuit  002436.SZ . 
    Under the terms of the offer, Technoprobe will pay a total
amount of approximately $50 million net of any adjustments
related to changes in the availability of cash of the target
company, a statement said.
    
    DIARY
    Rome, Industry Minister Adolfo Urso convenes representatives
from unions of telecommunication sector (1000 GMT).    
    Rome, Anitec-Assinform hold event "Digital to grow,
innovation, growth, transformation" and present annual report
"Digital in Italy in 2023" (0730 GMT); videomessage by business
lobby Confindustria president Carlo Bonomi (0800 GMT); expected
attendees include Anitec-Assinform President Marco Gay (0825
GMT); videomessage by Industry Deputy Minister Valentino
Valentini (0900 GMT); European Parliament representative Irene
Tinagli gives speech "Reform of the Stability Pact and
implementation of PNRR: new challenges for Italy" (1000 GMT);
videomessage by Economy Undersecretary Federico Freni (1015
GMT).
    Rome, H2IT holds "Italian Hydrogen Summit: Towards an
Italian hydrogen strategy"; expected attendees include at
opening plenary session Industry Minister Adolfo Urso,
Environment and Energy Security Undersecretary Claudio Barbaro,
EU Energy Commissioner Head of Cabinet Stefano Grassi (0730
GMT); at round-table discussion "National agencies, enablers of
the hydrogen system" agency for technologies, energy and
environment (ENEA) Director General Giorgio Graditi (0830 GMT);
at round-table discussion "Mobility and territories" FNM
 FNMI.MI  Managing Director Marco Piuri, Alstom Ferroviaria
Chairman and CEO Michele Viale, Apulia region Governor Michele
Emiliano (1030 GMT); at round-table discussion "Industry and
technology" Industrie De Nora  DNR.MI  CEO Paolo Dellacha Marco
Geneletti from Tenaris  TENR.MI  (1230 GMT).
    Rome, Eni  ENI.MI  presents "World Energy Transition Outlook
2023 - 1.5° Pathway" (0915 GMT); expected attendees include
Environment and Energy Security Deputy Minister Vannia Gava,
Energy Authority ARERA Commissioner Clara Poletti, Eni CEO
Claudio Descalzi.
    Lampedusa, Interior Minister Matteo Piantedosi and EU
Interior Affairs Commissioner Ylva Johansson visit the
immigration hotspot (0815 GMT); followed by press conference.
    Turin, Stellantis  STLAM.MI  unit FIAT holds media event
"The future is on track" (1600 GMT).

    
    ((Milan newsroom, e-mail: reutersitaly@thomsonreuters.com))
    
    For Italian market data and news, click on codes in 
brackets:

    20 biggest gainers (in percentage)............ .PG.MI 
    20 biggest losers (in percentage)............. .PL.MI 
    FTSE IT allshare index  .FTITLMS 
    FTSE Mib index........  .FTMIB 
    FTSE Allstars index...  .FTSTAR 
    FTSE Mid Cap index....  .FTITMC 
    Block trades..........  .BLK.MI 
    Stories on Italy......  IT-LEN 
    
    For pan-European market data and news, click on codes in 
 brackets:
  European Equities speed guide................... EUR/EQUITY 
  FTSEurofirst 300 index.............................. .FTEU3 
  DJ STOXX index...................................... .STOXX 
  Top 10 STOXX sectors........................... .PGL.STOXXS 
  Top 10 EUROSTOXX sectors...................... .PGL.STOXXES 
  Top 10 Eurofirst 300 sectors................... .PGL.FTEU3S 
  Top 25 European pct gainers....................... .PG.PEUR 
  Top 25 European pct losers........................ .PL.PEUR 
 
  Main stock markets:
  Dow Jones............... .DJI   Wall Street report ..... .N 
  Nikkei 225............. .N225   Tokyo report............ .T 
  FTSE 100............... .FTSE   London report........... .L 
  Xetra DAX............. .GDAXI   Frankfurt market stories .F 
  CAC-40................. .FCHI   Paris market stories... .PA 
  World Indices..................................... 0#.INDEX 
  Reuters survey of world bourse outlook......... EQUITYPOLL1 
  Western European IPO diary.......................... WEUIPO 
  European Asset Allocation........................ EUR/ASSET 
  Reuters News at a Glance: Equities............... TOP/EQE 
  Main currency report:............................... FRX/