Italy - Factors to watch on March 22

Pininfarina SpA

22/03/2019 05:00

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
 IT/DIA .
    
    POLITICS
    Rome, Chinese President Xi Jinping meets Italian President
Sergio Mattarella (1015 GMT); Senate Speaker Maria Elisabetta
Alberti Casellati (1530 GMT); Chamber of Deputies Speaker
Roberto Fico (1610 GMT).
    
    DEBT
    Treasury announces sale of 6-month BOT bills, with relative
amounts to be auctioned on March 27.
    
    COMPANIES
    ENEL  ENEI.MI 
    Europe's biggest utility pledged to grow its green energy
and grids business in Italy and the Americas on Thursday as it
reported a rise in profits and dividends and stuck to its
targets for 2019.  urn:newsml:reuters.com:*:nL8N218644
    
(*) UNICREDIT  CRDI.MI 
    Credit Suisse initiated coverage of the bank with a
'neutral' rating and a target price of 13.30 euros.
    
    INTESA SANPAOLO  ISP.MI 
    Italian investment vehicle Camfin said on Thursday it had
signed a term sheet with Intesa Sanpaolo for the entry of
Italy's biggest retail bank into its capital.  urn:newsml:reuters.com:*:nS8N20Z01M
(*) Italy's biggest bank is in talks to acquire Italian health
insurer Rbm Assicurazione Salute, Il Sole 24 Ore and MF said,
adding the deal could be worth up to 300 million euros.  
(*) Credit Suisse started coverage of the Italian bank with an
'underperform' rating and a target price of 1.80 euros
    
    EXOR  EXOR.MI 
(*) The Agnelli family's holding company acquired stakes in
Sibanye-Lonmin  SGLJ.J , the world's second largest operator of
platinum, palladium and gold mines, and in at least five other
mining companies in South Africa and Canada as part of its
diversification drive, Il Sole 24 Ore said, adding Chairman John
Elkann would explain the move in a soon-to-be published letter
to shareholders. Exor held a stake of around 8 percent in
Sibanye Gold as of Feb. 26, according to a regulatory filing.
    
(*) BANCA CARIGE  CRGI.MI 
    Two consortiums led by BlackRock  BLK.N  and Varde Partners,
respectively, are ready to bid for the troubled bank, according
to MF. The two contenders plan to present their binding offers
by April 5, MF added. Apollo Global Management  APO.N , which
was previously seen as part of the race, is no longer a
contender, the paper said. According to the financial daily, a
planned capital increase to boost the bank's resources could top
700 million euros, versus a previous estimate of 630 million
euros. 
    
(*) TELECOM ITALIA  TLIT.MI 
    The phone group's top two shareholders, French media group
Vivendi  VIV.PA  and activist fund Elliott, are said to be
working on a compromise regarding the board set up that would
see both investors with seven representatives each, MF said. The
choice of the 15th board director, also the chairman, could fall
on a person that has the tacit approval of the company's third
biggest shareholder, state lender CDP, the paper added.
        
(*) PRYSMIAN  PRY.MI 
    Credit Suisse cut its target price on the stock to 20 euros
from 21 euros.
    
(*) DIASORIN  DIAS.MI 
    Berenberg raised its target price on the stock to 100 euros
from 96 euros.
    
(*) SAIPEM  SPMI.MI 
    HSBC cut its rating on the stock to 'hold' from 'buy' and
raised its target price to 5 euros from 4.5 euros.
    
    M&A, ALITALIA
    Junior industry minister Michele Geraci said on Thursday a
Chinese airline could be involved in the rescue of the ailing
Italian carrier.  urn:newsml:reuters.com:*:nR1N1Z900E 
    
    GRUPPO CERAMICHE RICCHETTI  RICC.MI 
    Ordinary and extraordinary shareholder's meeting (1300 GMT)
and board meeting on FY results.
    
    Board meetings on FY results: BANCA POPOLARE SONDRIO
 BPSI.MI  (published on Feb. 11), BRIOSCHI SVILUPPO IMMOBILIARE
 BRUI.MI , EEMS  EEMS.MI , INIZIATIVE BRESCIANE  IB.MI , LU-VE
 LUVE.MI , MASI AGRICOLA  MASIA.MI , NOTORIOUS PICTURES
 NPI.MI , NOVA RE  NR.MI , PININFARINA  PNNI.MI , SIT  SITT.MI ,
SMRE  SMRR.MI , WM CAPITAL  WMC.MI .
    
    DIARY
    Cernobbio, 20th forum organised by trade association
Confcommercio and The European House Ambrosetti on "Market
Players and Scenarios for the 2000s" starts (1000 GMT); ends on
March 23. Expected attendees include trade union CISL Secretary
General Anna Maria Furlan, ECB official Massimo Rostagno.
    Potenza, Deputy Prime Minister and Interior Minister Matteo
Salvini visits the city.
    Rome, "Italy-China Business Forum on Third-Party Market
Cooperation" (0845 GMT).
    
    ((Milan newsroom, +39 02 6612 9507, fax +39 02 801149, 
milan.newsroom@news.reuters.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/ 

 ((viviana.venturi@thomsonreuters.com;))