Italy - Factors to watch on Sept. 30
30/09/2019 05:00
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
IT/DIA .
POLITICS
Cabinet meeting on new targets on GDP growth, deficit/GDP
ratio, debt/GDP ratio (1630 GMT).
ECONOMY
Italy's economy minister suggested on Sunday that the
country's budget deficit would be set at around 2.2% of domestic
output next year, stressing the need for flexibility as Rome
tries to rekindle stalled growth without reigniting friction
with the EU. urn:newsml:reuters.com:*:nL5N26K0CB
Italy will target its budget deficit at around 2.2% of gross
domestic product next year, falling to 1.8% in 2021 and 1.4% in
2022, a political source said on Saturday. urn:newsml:reuters.com:*:nL5N26J08W
European Central Bank policymaker and Bank of Italy's
governor Ignazio Visco said on Saturday recent expansionary
measures agreed by the bank were necessary to counter the risk
of a return to deflation in the euro area. urn:newsml:reuters.com:*:nL5N26J0GE
ISTAT releases August employment rate data (0800 GMT), flash
September CPI and HICP data (0900 GMT).
COMPANIES
ENI ENI.MI
Italian prosecutors are investigating the wife of Chief
Executive Claudio Descalzi as part of a wider probe into
allegations of corruption involving the oil and gas major in
Congo Republic, a prosecution document seen by Reuters showed.
urn:newsml:reuters.com:*:nL5N26I5FI
TELECOM ITALIA TLIT.MI
Chief Executive Luigi Gubitosi has contacted state lender
CDP's Chairman Massimo Tononi to offer him to replace Fulvio
Conti, who stepped down as Telecom Italia's chairman last week,
La Repubblica said on Sunday. The report added that opposing
shareholders Eliott Management and France's Vivendi VIV.PA
might agree on Tononi's name.
Deadline expires for antitrust authority's proceedings
against Telecom Italia over abuse of dominant position in the
fibre-optic market.
UNICREDIT CRDI.MI , DOVALUE DOVA.MI
The lender is in advanced talks with bad loan specialist
doValue over the sale of a 5 billion euro residential mortgage
portfolio, via a securisation deal that would make use of a
state guarantee scheme (GACS), Il Sole 24 Ore said on Saturday.
MONTE DEI PASCHI DI SIENA BMPS.MI
Binding offers for a 300 million euro real estate portfolio
the bank plans to sell are expected by the beginning of next
month, after it received 92 preliminary proposals, Il Sole 24
Ore said on Saturday. Monte dei Paschi will only consider offers
for the entire portfolio, the report said, adding potential
buyers included Hines, Bain Capital, Blackstone, Dea Capital,
Apollo, Cerberus and Pimco.
Rome is weighing options to protect future buyers of Monte
dei Paschi from a number of pending lawsuits to make the bank
more attractive, daily La Stampa said on Saturday. It added one
of the options was to create a bad bank where to place legal
disputes.
BANCA CARIGE CRGI.MI (suspended form trading)
Italian banks want a new management for Carige after they
agreed to save the troubled bank through the FITD depositor
guarantee fund, Il Messaggero said on Saturday. Current special
commissioners should not be part of the bank's new management,
the report added, while candidates to lead Carige include former
Unicredit General Manager Gianni Franco Papa and former Creval
Chief Executive Mauro Selvetti.
FIAT CHRYSLER FCHA.MI
The Italian American car maker and its U.S. unit will pay
$40 million for misleading investors about its monthly sales
figures and will resolve a lengthy probe by the U.S. Securities
and Exchange Commission. urn:newsml:reuters.com:*:nL2N26I10R
ATLANTIA ATL.MI
The Italian infrastructure group said on Friday it had
picked auditor KPMG and engineering firm Ramboll Denmark to
conduct an audit to verify the correct application of internal
procedures at its units Autostrade and Spea. It also appointed
SGS Italia to conduct an assessment of the quality and fitness
of the methodological framework and procedural systems used by
Autostrade and Spea. urn:newsml:reuters.com:*:nS8N26403D
ALITALIA (unlisted), ATLANTIA ATL.MI
Representatives of Italian state railways FS, infrastructure
group Atlantia and U.S. carrier Delta DAL.N could meet again
on Tuesday to try to smooth out divergences over a rescue plan
for ailing Alitalia, officially due on Oct. 15, daily Il
Messaggero said on Saturday.
MEDIASET MS.MI
The Italian broadcaster holds a board meeting on first half
results (1400 GMT), followed by conference call (1600 GMT).
BANCA IFIS IF.MI
The Italian bank has shortlisted Hines, Coima, Partners
group and France's Ardian to present binding offers for a real
estate portfolio it plans to sell, Il Sole 24 Ore said on
Saturday, adding binding offers are expected by mid-October. All
preliminary offers valued the portfolio around 80 million euros,
the report said.
ITALMOBILIARE ITMI.MI
The holding group and its unit Clessidra SGR, a private
equity firm, have got an investment capacity of over 2.5 billion
euros, Italmobiliare's Chief Executive Carlo Pesenti said in an
interview with La Repubblica published on Sunday. Pesenti said
investments will focus on Italian companies, in industries such
as food, fashion, design, healthcare and technology. La
Repubblica added that Italmobiliare alone has got up to 425
million euros to invest in Italian companies.
JUVENTUS JUVE.MI ,
Cristiano Ronaldo helped the Turin side to continue their
unbeaten start to the Serie A season with a comfortable 2-0 home
victory over SPAL on Saturday. urn:newsml:reuters.com:*:nL5N26J0DL
AS ROMA ASR.MI , LAZIO LAZI.MI
Edin Dzeko's goal secured a 1-0 win for AS Roma away to
Lecce on Sunday while Lazio blew away Genoa 4-0 in Rome.
urn:newsml:reuters.com:*:nL5N26K0BI
AC MILAN (unlisted), LVMH LVMH.PA
Both U.S. fund Eliott Mangement and the Arnault family,
which controls the French luxury group LVMH, on Saturday denied
reports of a possible sale of the Milan-based soccer team.
Earlier on Saturday daily La Repubblica had said that Eliott,
which currently controls AC Milan, was in talks with LVMH Chief
Executive Bernard Arnault to sell the Serie A club, for 960
million euros.
BIO-ON ON.MI
The bio-plastics company holds a board meeting on first half
results.
WEBSOLUTE WEBO.MI
Listed on AIM segment.
DIARY
Rome, news conference to present "Frecciarosa 2019" with
Health Minister Roberto Speranza, state railways Ferrovie dello
Stato CEO Gianfranco Battisti (0930 GMT).
Rome, Prime Minister Giuseppe Conte has a live interview on
skuola.net (1330 GMT).
Cabinet meeting on new targets on GDP growth, deficit/GDP
ratio, debt/GDP ratio (1630 GMT).
Rome, Energy Authority AEEGSI expected to release energy and
gas fees effective from Oct. 1, 2019.
Milan, Bank of Italy Milan headquarters Director Giuseppe
Sopranzetti presents report on the economy of Lombardy (0730
GMT).
Milan, CEO of Banco BPM Giuseppe Castagna attends cenference
(0930).
Milan, conference on "Shareholder Activism and ESG: U.S. and
European Perspectives" with Italian Stock Exchange Chairman
Andrea Sironi, Snam SRG.MI CEO Marco Alvera, Assicurazioni
Generali GASI.MI Chairman Gabriele Galateri di Genola (1230
GMT).
Turin, Turin Confindustria body holds annual assembly with
European Parliament President David Maria Sassoli, region
governors Alberto Cirio for Piedmont, Attilio Fontana for
Lombardy, Stefano Bonaccini for Emilia Romagna, Regional Affairs
Minister Francesco Boccia (1100 GMT).
L'Aquila, Industry Minister Stefano Patuelli attends Poste
Italiane's PST.MI inauguration ceremony to re-open the office
in the old town after the earthquake (0900 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/