Italy - Factors to watch on Jan. 29

Abitare In SpA

29/01/2018 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 
    Former prime minister Matteo Renzi triggered uproar in his 
centre-left Democratic Party (PD) at the weekend by packing the 
group's electoral list with close allies and shutting the door 
on internal rivals. urn:newsml:reuters.com:*:nL8N1PM0D7 
     
    ECONOMY 
    ISTAT releases December producer prices data (0900 GMT). 
    Assogestioni expected to release December fund flows data. 
         
    DEBT 
    Treasury offers 6-month BOT bills. Subscriptions close at 
1000 GMT. 
     
    COMPANIES 
     
    BANKS 
    Veteran Italian banker and former Industry Minister Corrado 
Passera topped expectations by raising 600 million euros ($746 
million) from investors with the aim of acquiring a small 
bank. urn:newsml:reuters.com:*:nL8N1PL4MV 
     
    INTESA SANPAOLO  ISP.MI  
    Intesa Sanpaolo said on Friday it learned "with dismay" that 
it could be brought into judicial proceedings against Veneto 
Banca, a lender it purchased last year. "Intesa Sanpaolo will 
not hesitate to defend itself and will exercise all legal and 
contractual rights," the bank said. urn:newsml:reuters.com:*:nI6N1PC009 
    Scandinavian debt collector Intrum Justitia  INTRUM.ST , 
engaged in talks with Italy's Intesa SanPaolo, is eyeing a 51 
percent stake in the bank's soured loan unit and 10-12 billion 
euros in bad debts, two sources close to the matter 
said. urn:newsml:reuters.com:*:nL8N1PL4YU 
     
    BANCA CARIGE  CRGI.MI  
    At its next board meeting, the lender will present the 2018 
budget, confirming targets set out in its industrial plan and 
focused on cutting costs, CEO Paolo Fiorentino told MF in an 
interview published on Saturday.  
    Helped by the recent capital hike, the bank wants to 
re-launch its traditional business of a commercial regional 
bank, lending to small and micro enterprises. Carige wants to 
exceed the bad loan reduction target set by the ECB for the bank 
for 2020, Fiorentino added. As far as unlikely-to-pay loans, the 
CEO said the bank had identified a portfolio worth 500 million 
euros that it could shed and which had attracted interest from 
specialised operators in the market. Talks with the bank's main 
shareholder, Malacalza Investimenti, which had expressed some 
criticism over the management of the recent cash call, were 
constructive, he added.   
    Carige's board meeting, planned for Tuesday, was postponed 
to Feb. 2, Il Sole 24 Ore said on Sunday.  
    The paper added, citing a financial source, that Malacalza 
had a right to ask for more information and to have an answer, 
but that there were no contraposition between the bank's CEO, 
the board and the top shareholder. 
     
    FIAT CHRYSLER  FCHA.MI  
    United Auto Workers President Dennis Williams on Friday 
denied a claim that payments by a Fiat Chrysler Automobiles NV 
(FCA) executive to a union official had compromised contract 
talks or impacted union funds. urn:newsml:reuters.com:*:nL2N1PL1UP 
     
    MEDIASET  MS.MI  
    Italy's soccer league has launched talks with Spanish broker 
Mediapro on its 950-million-euro ($1.18 billion) bid for the 
rights to broadcast Serie A soccer matches for the 2018-2021 
seasons, the CEO of the league's advisor Infront, Luigi De 
Siervo, said on Friday. 
    The league will also prepare a new tender for the rights 
targeting media operators such as Mediaset and Sky that will be 
launched if no deal is reached with Mediapro, De Siervo added. 
     
    TELECOM ITALIA  TLIT.MI   
    Outgoing Deputy Chairman Giuseppe Recchi was appointed CEO 
of medical service provider Affidea, a statement on the Dutch 
company's website showed. Telecom Italia Chairman Arnaud de 
Puyfontaine said he was happy for Recchi to have found a new 
job.  
     
    GENERALI  GASI.MI  
    The low-interest rate scenario has been integrated in 
Generali's business model and the insurer can operate in that 
environment for a long time, CEO Philippe Donnet told MF in an 
interview on Saturday. The executive added that development, 
expansion and growth would be the guiding priorities for the 
company's new business plan.  
     
    CATTOLICA ASSICURAZIONI  CASS.MI  
    Presents 2018-2020 industrial plan (0900 GMT), followed by 
new conference with CEO Alberto Minali. 
    The company is also working on changes to its governance 
model, Il Sole 24 Ore said on Saturday.  
     
    LUXOTTICA  LUX.MI  
    Board meeting on preliminary FY results (sales). 
     
    ABITARE IN  ABIT.MI  
    Annual and extraordinary shareholders' meetings (1600 GMT). 
     
    GUCCI, KERING  PRTP.PA  
    French luxury group Kering  PRTP.PA  said on Friday that 
Gucci boss Marco Bizzarri was fully compliant with his tax 
obligations in Italy, after a French newspaper reported that the 
executive and his employer had benefited from an offshore tax 
scheme. urn:newsml:reuters.com:*:nL8N1PL5IO 
     
    M&A, ALITALIA 
    Industry Minister Carlo Calenda said he would still like to 
reach an accord on the sale of Alitalia before the March 4 
elections although it may challenging to do so, Il Sole 24 Ore 
on Saturday quoted him as saying   
    Corriere della Sera quoted Calenda as saying he would like 
to launch exclusive talks with one of the interested parties 
before the vote.  
    Commissioner Luigi Gubitosi said he agrees with Calenda that 
a deal should be struck soonest, but could not say whether this 
will be before or after the vote, according to an interview with 
Il Messaggero on Sunday.  
     
    IPO, EATALY 
    The food group expects to list on the stock market in the 
first quarter of 2019, chairman Andrea Guerra told La Repubblica 
in an interview on Saturday. The executive added that 2017 
revenues rose 22 percent to 470 million euros, while EBITDA 
totaled 25 million euros. Guerra expects the figures to rise to 
560 million and 35 million this year, respectively.  
     
    ((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/  
 
 
Keywords: ITALY FACTORS/JAN. 29