Italy - Factors to watch on October 19
Italy - Factors to watch on October 19 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 (*).
ECONOMY
Italy said on Friday it had clinched a deal with European Union authorities over measures to limit the impact of sky-high gas prices on electricity costs for households and businesses.
The Italian economy will grow by 1% this year and 0.7% in 2027, the country's central bank said on Friday, hiking previous estimates but also revising up its outlook for inflation.
DEBT
Morningstar DBRS on Friday confirmed Italy's sovereign debt rating at A (low), with a stable trend.
Treasury starts offer of five-year, dual-tranche bond 'BTP Valore' for the retail market; ends on October 23, unless early closure.
COMPANIES
MONTE DEI PASCHI (MPS) BMPS.MI, INTESA SANPAOLO ISP.MI
Goldstone Capital Limited, a shareholder in Monte dei Paschi, backed by Qatari investors, said it supports Intesa Sanpaolo's bid for the Tuscan lender, Bloomberg reported on Friday.
UNIPOL UNPI.MI, BPER BANCA EMII.MI
Italy's competition watchdog on Friday authorised the insurer to buy de facto control of lender BPER Banca.
GENERALI GASI.MI
The Italian insurer said on Friday it had received in-principle approval to launch a Lloyd's syndicate to assume a share of its outward reinsurance placements.
ENERGY SECTOR
The Italian government will introduce in January a temporary cap of €60 per megawatt hour (Mwh) for the gas price paid by gas-fired power stations, the energy minister told Il Messaggero on Sunday.
The government will reimburse utilities running gas-fired stations the difference between the price of gas at the TTF exchange and the cap, if positive. The measure will be funded by increasing system charges in power bills paid by households and companies, the minister said, adding, however, that Rome hoped the move would overall reduce electricity bills.
Rome also aims to cancel the difference between the price of natural gas on Italy's wholesale market PSV and that on the Amsterdam's TTF market, the minister said, without explaining how the measure would be funded.
(*) IREN IREE.MI
Executive Chairman Luca Dal Fabbro said consolidation with larger multi-utilities absorbing smaller ones would be useful to the sector, in an interview with daily La Stampa published on Monday. He added that mergers, including between public and private companies, were a priority to strengthen the sector.
STELLANTIS STLAM.MI
The Franco-Italian carmaker said on Friday it welcomed a deal struck by France and Germany aimed at revising EU auto rules.
WEBUILD WBD.MI, TREVI FINANZIARIA TFI.MI
Italian builder Webuild said on Friday it held a 29.3% of the share capital of the construction and engineering company Trevi, which it is trying to take over.
In a separate statement, Webuild announced on Friday it had waived certain conditions precedent to its voluntary tender offer for all shares of Trevi.
(*) THE ITALIAN SEA GROUP TISGR.MI
Deadline for binding bids for the yacht maker, rival Sanlorenzo SNL.MI is due to submit a binding offer.
(*) M&A, SERIE A
Private equity firm Avenue Capital has emerged as the leading bidder for a minority stake in the company that will hold the international media rights of Italy's top soccer league Serie A, two people with knowledge of the matter told Reuters.
(*) JUVENTUS JUVE.MI, LAZIO LAZI.MI
Lazio's Danish duo made the difference in Turin as Oliver Provstgaard and Gustav Isaksen scored in a 3-0 win over Juventus on Sunday that lifted their side level with Inter Milan at the top of Serie A.
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
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/