Italy - Factors to watch on March 12

Acea SpA

12/03/2024 05:00

The following factors could affect Italian markets on Tuesday.
    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
    Italian Prime Minister Giorgia Meloni and her right-wing
allies have kept control of the central region of Abruzzo,
election results on Monday showed, bouncing back from a shock
defeat in Sardinia two weeks ago.
    
    ECONOMY
    ISTAT releases monthly bulletin on the state of the economy
in January and February (1000 GMT).
    
    DEBT
    Treasury sells 7.5 billion euros 12-month BOT bills.
Subscriptions close at 1000 GMT.
    
    COMPANIES
    TELECOM ITALIA (TIM)  TLIT.MI  
    Shares in the Italian phone group fell again on Monday after
publication of details of the cashflow and debt levels of the
venture created by the planned sale of its fixed line network
failed to convince investors.
    The negative market reaction increases pressure on Pietro
Labriola, who is seeking a second mandate as CEO at a
shareholder meeting next month and aims to finalise the network
sale to U.S. fund KKR  KKR.N  later this year.
    
    INTESA SANPAOLO  ISP.MI  
    Italy's biggest lender said on Monday it had received a
green light from the European Central Bank (ECB) for a buyback
operation of up to 1.7 billion euros, to be launched in June
pending approval at an upcoming annual general meeting. 
    
    M&A, ION-PRELIOS
    Italy on Monday approved with conditions ION's acquisition
of credit manager Prelios after the fintech group disclosed
financing details on the deal that Rome had requested, two
government sources told Reuters.
    
    BANCO BPM
    Italy's third-largest bank said on Monday it had
successfully launched a Tier 2 bond for 500 million euros, with
orders a 2.5 million euros and a ten-year and a quarter (June
2034) maturity, callable five years after issuance.  
    
    FINECOBANK  FBK.MI  
    The bank said on Monday it had successfully completed a
tender offer of one series of its additional Tier 1 notes worth
around 168 million euros, out of an aggregate nominal amount
outstanding of 300 million euros. 
    It also said it had received regulatory approval from the
ECB to call the remaining amount of the notes not purchased in
the offer at the first available date, on Dec. 3.
    
    GAMING SECTOR
    Italy's government approved on Monday a decree setting the
terms for the tender to run the national Lotto game, a draft
seen by Reuters shows. Rome expects to raise more than 1 billion
euros from the nine-year concession.
    The current concession, due to expire next year, is held by
International Game Technology (IGT)  IGT.N .
    
    ASSICURAZIONI GENERALI  GASI.MI 
    Releases FY results (0600 GMT), followed by news conference
(0900 GMT) and conference call (1100 GMT).
    
    LEONARDO  LDOF.MI 
    Releases FY results and industrial plan (preliminary FY
results released on Feb. 29), followed by presentation (1000
GMT).
    
    A2A  A2.MI 
    CEO Renato Mazzoncini presents 2024-2035 strategic plan in
Milan (1100 GMT).
    
    ITALGAS  IG.MI 
    Board meeting on FY results, followed by conference call
(1400 GMT).
    
    TOD'S  TOD.MI 
    Board meeting on FY results (preliminary 2023 sales results
released on Jan. 24), followed by conference call (1700 GMT).
    
    SAIPEM  SPMI.MI 
    Board meeting on FY results (preliminary FY results released
on Feb. 28).
    
    DIARY
    Economy Minister Giancarlo Giorgetti attends ECOFIN meeting
in Brussels.
    Rome, representatives from automotive industry lobby ANFIA
speak before Senate Industry Committee on the state of
automotive industry in Italy (1330 GMT).    
    Rome, Digital Italy Agency (AGID) holds conference
"Artificial Intelligence for Italy" (0830 GMT); expected
attendees include Cabinet Undersecretary Alessio Butti, Poste
Italiane  PST.MI  CEO Matteo Del Fante, Fincantieri  FCT.MI  CEO
Pierroberto Folgiero, state lender Cassa Depositi e Prestiti
(CDP) CEO Dario Scannapieco, state railways Ferrovie dello Stato
(FS) CEO Luigi Ferraris, Acea  ACE.MI  CEO Fabrizio Palermo,
Italian Bishops' Conference (CEI) President Cardinal Matteo
Maria Zuppi, IBM  IBM.N  Italian CEO Stefano Rebattoni, Fastweb
CEO Walter Renna, B7 Chairwoman Emma Marcegaglia; Alessio Butti
delivers closing address.
    Rome, Industry Ministry holds meeting on future of Marelli's
Crevalcore plant.
    Industry Minister Adolfo Urso's agenda on Tuesday:
    * attends Unindustria meeting in Rome (0900 GMT);
    * attends via videoconference meeting "109 Cities, one
Country - Italy's regional capitals" (1000 GMT);
    * attends presentation of report "Enterprise Italy towards
G7" with Edison Foundation Vice President Marco Fortis, B7
Chairwoman Emma Marcegaglia in Rome (1400 GMT).
    Bolzano, Prime Minister Giorgia Meloni signs 'Agreement for
development and cohesion between the government and the
autonomous province of Bolzano' (1445 GMT).
    Teramo, Environment and Energy Security Minister Gilberto
Pichetto Fratin attends inauguration ceremony of the academic
year at University Campus (1000 GMT).
    Trento, Prime Minister Giorgia Meloni signs 'Agreement for
development and cohesion between the government and the
autonomous province of Trento' (1050 GMT).
    Verona, 3rd edition 'LetExpo 2024' starts; ends on March 15.
On Tuesday expected attendees include Veneto region Governor
Luca Zaia, Infrastructure and Transport Minister Matteo Salvini
(1000 GMT); Defence Minister Guido Crosetto (1115 GMT); Industry
Minister Adolfo Urso (1130 GMT); state lender Cassa Depositi e
Prestiti (CDP) unit SIMEST Chairman Pasquale Salzano (1145 GMT);
A22 Brennero Motorway CEO Diego Cattoni (1430 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/