Italy - Factors to watch on June 26
26/06/2025 05:00
The following factors could affect Italian markets on Thursday. 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 New NATO targets for higher defence and security spending are affordable for Italy as they give countries "total flexibility" on how to reach them, Prime Minister Giorgia Meloni said on Wednesday. DEBT Treasury sells 1.5 billion euros 12-month BOT bills due Oct. 14, 2025; 1.5 billion euros 6-month BOT bills due Nov. 28, 2025. Subscriptions close at 0900 GMT. COMPANIES (*) MEDIOBANCA MDBI.MI, BANCA MONTE DEI PASCHI (MPS) BMPS.MI, GENERALI GASI.MI, UNICREDIT CRDI.MI According to MF daily, shareholders Delfin and Caltagirone will need a separate authorisation from the European Central Bank to go above 10% in MPS, which they would if, as expected, they were to back MPS' takeover bid for Mediobanca. (*) MEDIOBANCA MDBI.MI, BANCA MONTE DEI PASCHI BMPS.MI, BANCA MEDIOLANUM BMED.MI The Doris family is considering selling its total 4.45% stake in Mediobanca, part of which is held through Banca Mediolanum, Il Sole 24 Ore reported on Thursday. The sale would need to be approved by Mediolanum's board, but there is no such item on the agenda for Thursday's meeting, the newspaper said. Banca Mediolanum told Il Sole that no decision has been made. (*) BANCA MONTE DEI PASCHI BMPS.MI The Tuscan bank's board meets on Thursday to approve the share issue for the Mediobanca bid and likely lower the minimum take-up threshold for the offer to be valid which is currently set at the 66.7% level. (*) FINCANTIERI FCT.MI The Italian Navy has placed an order worth around 700 million euros for two new PPA Multipurpose Combat Ships, which are expected to be delivered in 2029 and 2030 respectively, the company said on Thursday. STELLANTIS STLAM.MI The Franco-Italian automaker has begun reviewing its long-term strategic plan, Antonio Filosa told staff on Wednesday, in his first public appearance since officially taking over as the new CEO. LEONARDO LDOF.MI Turkish President Tayyip Erdogan said on Wednesday he had held talks with Britain and Germany regarding Eurofighter jets, built by a consortium of defence companies including Italy's Leonardo, and there were "positive developments" on the issue. (*) POSTE ITALIANE PST.MI The General Manager of the group's payments business Postepay, Laura Furlan, is set to become CEO of the group's insurance arm Poste Vita, MF daily wrote on Thursday. (*) TELECOM ITALIA TLIT.MI Berenberg initiated coverage with a 'buy' rating and a price target of 0.52 euros. (*) INWIT INWT.MI Berenberg resumes coverage with a 'buy' rating and a price target of 12.30 euros. (*) ILLIMITY ILTY.MI, BANCA IFIS IF.MI The shareholders participating in the consultation agreement concerning approximately 27.2% of the share capital have communicated the termination of the agreement by mutual consent, after Banca Ifis on Thursday promised a 5% per share cash premium if subscriptions for its bid for illimity go above 90%. (*) TERNA TRN.MI The Italian electricity grid operator established a new Euro Medium Term Note Programme (EMTN) worth 4 billion euros and updated its existing 12-billion-euro EMTN, a statement said on Wednesday. A2A A2.MI The Italian utility and French tech firm Qarnot inaugurated a data centre in Italy on Wednesday that aims to capture waste heat from computer servers and channel it directly into a local heating grid. ALERION CLEAN POWER ARN.MI Presents industrial plan with Chairman and CEO Josef Gostner (0900 GMT). DIARY Prime Minister Giorgia Meloni attends European Council meeting in Brussels (to June 27). Economy Minister Giancarlo Giorgetti attends "IMF and World Bank Constituency Meeting" in U.S. (to June 27). Rome, Giorgetti attends state auditor hearing on state accounts for the financial year 2024 (0900 GMT). Rome, Economy Ministry Director General for banking and the financial system Stefano Cappiello addresses Senate Banks Committee (1130 GMT). Rome, Senate holds 'question time' session with Industry Minister Adolfo Urso (1300 GMT). Rome, general meeting on 'Cleantech' (0800 GMT); expected attendees include Industry Minister Adolfo Urso, Energy and Sustainable Economic Development (ENEA) Director General ENEA Giorgio Graditi, European Investment Bank Vice President Gelsomina Vigliotti, Invitalia CEO Bernardo Mattarella, steel industry body Federacciai President Antonio Gozzi, Fincantieri FCT.MI Chairman Biagio Mazzotta. Rome, Industry Minister Adolfo Urso attends event "The Italian power generation chain. An extraordinary means of competitive strength" (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/