Italy - Factors to watch on Feb. 10
10/02/2020 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
The leader of the right-wing League Matteo Salvini told La
Stampa on Sunday his party intended to put forward professionals
and entrepreneurs as candidate mayors for local elections next
year in Turin, Milan, Bologna and Rome.
ECONOMY
The effect of new Chinese virus on the Italian economy is
hard to assess and a significant impact cannot be ruled out, the
Bank of Italy warned on Saturday. urn:newsml:reuters.com:*:nL8N2A80AG
"Health comes first", Health Minister Roberto Speranza told
Corriere della Sera in an interview on Sunday, reiterating that
Italy would keep a block on flights to and from China due to the
coronavirus emergency. He added that the ban was not applied to
cargo flights transporting goods.
The euro zone economy needs support from economic policies
other than the European Central Bank's monetary policy if market
yields are to rise from current extra-low levels, governing
council member Ignazio Visco said on Saturday. urn:newsml:reuters.com:*:nS8N28E0CG
Italy should consider a reform of its VAT, lowering its
value on basic goods while increasing it on luxury ones, Economy
Undersecretary Pier Paolo Baretta told Corriere della Sera in an
interview on Sunday.
(*) Deputy Economy Minister Antonio Misiani told daily la
Repubblica on Monday that there weren't ongoing talks on a
possible VAT reform, but that the tax could be reviewed to make
it more fair.
ISTAT releases December industrial output (0900 GMT).
OECD releases December composite leading indicator (1100
GMT).
DEBT
Italy will always oppose stripping government bonds of their
zero risk-weight status as a bank asset, unless the euro zone
moves to create a new common risk-free asset for lenders to
invest in, Economy Minister Roberto Gualtieri said on Saturday.
urn:newsml:reuters.com:*:nL8N2A80DB
Global rating agency Fitch affirmed Italy's sovereign credit
rating at 'BBB' and outlook at negative on Friday, citing high
level of general government debt, very low trend GDP growth and
economic policy uncertainty. urn:newsml:reuters.com:*:nL4N2A7474
Treasury announces sale of BTP bonds, with relative amounts
to be auctioned on Feb. 13.
COMPANIES
EXOR EXOR.MI
The investment group is in exclusive talks to sell reinsurer
PartnerRe to France's Covea in a deal one source familiar with
the matter said was worth around $9 billion. urn:newsml:reuters.com:*:nL8N2A90H3
BANKS
The Bank of Italy on Saturday called for European rules to
handle smaller banks' crises and urged them to consider mergers
to cut excessively high costs. Visco defended the Bank of
Italy's actions in relation to Popolare di Bari, the biggest
lender in the country's underdeveloped south and the latest bank
to be rescued by the state and other rivals, at the end of last
year. urn:newsml:reuters.com:*:nL8N2A80A9
ATLANTIA ATL.MI
CDP Chairman Giovanni Gorno Tempini on Saturday declined to
comment on a possible investment of the state lender in
Autostrade per l'Italia, motorway unit of Atlantia.
Autostrade is checking conditions of 587 tunnels on its
motorway network, the company said on Friday, adding it had
earmarked 70 million euros for inspections and maintenance of
the passages.
If Italy's government decided to strip Atlantia of its
motorway concession it would simply be a vendetta and the
decision would seriously damage the country, the head of the
national motorway lobby group Fabrizio Palenzona told Il
Messaggero in an interview on Sunday. He suggested that a review
of the national mechanism used to calculate motorway tolls could
be part of the solution to end the unresolved stand-off between
Atlantia and Rome over the revocation of the group's concession.
ENEL ENEI.MI
The Treasury, which is a key investor in the company,
intends to confirm Francesco Starace as chief executive for a
new term, Milano Finanza said on Saturday.
POSTE ITALIANE PST.MI
The generous dividends paid to the Treasury is one of the
reasons why Rome will likely confirm Matteo Del Fante at the
helm of the company, Milano Finanza said on Saturday. The
Economy Ministry own a share of just over 29% of Poste.
LEONARDO LDOF.MI
Telecom Italia's executive Stefano Siragusa could succeed
Alessandro Profumo at the helm of Leonardo, if Profumo steps
down, Milano Finanza said on Saturday.
MEDIASET MS.MI
The Italian broadcaster will submit revised plans to merge
its Italian and Spanish broadcasting units under a Dutch entity
to authorities in the Netherlands, securing a six-month
extension to complete the project, two sources familiar with the
matter said on Friday. urn:newsml:reuters.com:*:nL8N2A66NU
BPER BANCA EMII.MI
Italy's sixth-largest bank is considering taking advantage
of favourable market conditions to issue a subordinated bond,
its chief financial officer said on Saturday. urn:newsml:reuters.com:*:nL8N2A80FE
BUZZI UNICEM BZU.MI
The Italian cement maker said on Friday its 2019 core
earnings would come in at approximately 700 million euros after
posting consolidated net sales of 3.2 billion euros, up 12.1%
compared with the previous year. urn:newsml:reuters.com:*:nBIA6bQ0St
ASCOPIAVE ASCI.MI
The Italian natural gas and power distributor said on Friday
it bought a 3.67% stake in utility Acsm Agam ACAG.MI .
ALITALIA CAITLA.UL
The administrator of the Italian airline met with executives
of U.S. carrier Delta DAL.N to discuss changes in their
alliance for North America, Il Sole 24 Ore reported on Saturday,
adding Delta is still interested in investing in Alitalia.
(*) The ailing carrier might have to pay the national tax
authority up to 40 million euros in arrears on pension
contributions for its employees following wrong calculations of
their wages, daily Il Messaggero said.
(*) POPOLARE DI BARI (unlisted)
Former Creval Chief Executive Mauro Selvetti, former
UniCredit Executive Alessandro Decio and former Veneto Banca
Chief Executive Cristiano Carrus are the three candidates for
the position of CEO of Popolare di Bari, the Italian lender that
was put under special administration in December, Il Corriere
della Sera - L'Economia said on Monday.
(*) UNIEURO UNIR.MI
The Italian consumer electronics retailer has resources to
keep financing its growth independently, its Chief Executive
Gancarlo Nicosanti told La Repubblica-Affari & Finanza.
JUVENTUS JUVE.MI
Hellas Verona produced a huge upset by coming from behind to
beat Serie A leaders Juventus 2-1 on Saturday, inflicting a
third defeat of the season on the Italian champions.
urn:newsml:reuters.com:*:nL8N2A80OG
AS ROMA ASR.MI
The Rome-based club lost 3-2 at home to Bologna on Friday.
urn:newsml:reuters.com:*:nL8N2A76KL
(*) SS LAZIO LAZI.MI
Lazio moved one point behind Serie A leaders Juventus and
Inter Milan with a 1-0 win at Parma on Sunday, setting a new
club record of 18 consecutive unbeaten league games in the
process. urn:newsml:reuters.com:*:nL8N2A90IE
BANCA GENERALI BGN.MI
Board meeting on preliminary FY results, followed by
conference call (1300 GMT).
MONCLER MONC.MI
Board meeting on FY results, followed by conference call
(1700 GMT).
UBI BANCA UBI.MI
Board meeting on FY results, followed by conference call
(1430 GMT).
DIARY
Rome, Bank of Italy holds seminar on "Financial sector
stability and consumer protection of banking and financial
services" with representatives Alessio De Vincenzo, Roberto
Cercone, Margherita Cartechini (0800 GMT).
Rome, Chamber of Deputies Budget Committee examines
'Milleproroghe' decree (1300 GMT).
Rome, Prime Minister Giuseppe Conte delivers speech at the
National Memorial day of the Foibe ceremony in Senate (1500
GMT).
Rome, Prime Minister Giuseppe Conte takes part at meeting on
2023 Agenda on jobs and welfare policies at Palazzo Chigi (1630
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/