Italy - Factors to watch on Dec. 5
05/12/2024 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
Italy's supreme court heard cases related to the
government's plan to divert migrants to Albania on Wednesday,
but will take weeks to rule on its legitimacy, sources said,
leaving Prime Minister Giorgia Meloni's flagship initiative in
limbo.
Italy has for the first time paid compensation to victims of
Nazi war crimes, giving 800,000 euros ($840,000) to the heirs of
a man killed in a 1944 civilian massacre in Tuscany, a lawyer
for the heirs and the Italian Treasury said on Wednesday.
ECONOMY
OECD releases November composite leading indicator data
(1100 GMT).
COMPANIES
STELLANTIS STLAM.MI
The exit pay deal for outgoing CEO Carlos Tavares will be
less than last year's 36.5-million-euro package, the Financial
Times reported on Wednesday.
Stellantis is confident that an expected improvement in
performance could allow the company to pay a dividend in 2025,
finance chief Doug Ostermann said on Wednesday.
Targets deemed unrealistic or destructive by some board
members triggered Tavares' sudden ouster just a month after he
received their full backing, two people with knowledge of the
matter told Reuters.
UNICREDIT CRDI.MI , BANCO BPM BAMI.MI
The Italian lender has until March to evaluate improving its
takeover bid for Banco BPM, CEO Andrea Orcel told an investor
call on Wednesday according to a person who attended the virtual
meeting. UniCredit declined to comment.
Commerzbank's CBKG.DE CEO said on Wednesday the bank was
open to any options from shareholders, but so far it has had no
offer from UniCredit. Bettina Orlopp added that extracting
benefits from a cross-border banking deal remains "very
difficult" without a European banking union, as she repeated
that her bank's focus was on independence in the face of
UniCredit's interest.
Italian Foreign Minister Antonio Tajani said in a RAI
television interview on Wednesday he does not believe there
would be grounds to apply "golden power" legislation to block or
impose conditions on the UniCredit-Banco BPM deal.
ENEL ENEI.MI
Alberto De Paoli, head of countries including the United
States, Brazil and Chile, will soon leave the Italian energy
company, two sources familiar with the matter said, in the
latest management change under CEO Flavio Cattaneo.
AVIO AVI.MI
Due to a mechanical problem, Arianespace on Wednesday
postponed to Thursday the launch of the Avio-made Vega C rocket,
further delaying a return to space for the upgraded Italian
launcher after a two-year hiatus.
The Italian aerospace company has inked a deal with missile
systems provider MBDA Italia valued around 150 million euros.
The agreement, announced on Wednesday, involves Avio supplying
rocket motors for MBDA's CAMM-ER (Extended Range) missiles.
BUZZI BZU.MI , ERG ERG.MI
Cement group Buzzi(BZU.MI) will join the blue-chip stock
index FTSE Mib as of Dec. 23 replacing renewables company Erg,
FTSE Russell, the group which manages the FTSE Mib composition
reviews, said on Wednesday.
MFE-MEDIAFOREUROPE MFEB.MI
The TV group controlled by Italy's Berlusconi family has
asked a group of banks for a 3.4 billion euro ($3.6 billion)
loan to cover any financing it may need related to Germany's
ProSiebensat.1 PSMGn.DE , a source told Reuters.
AQUAFIL ECNL.MI
Ends capital increase.
DIARY
Rome, Prime Minister Giorgia Meloni meets EU Commission Vice
President for Cohesion and Reforms Raffaele Fitto (1530 GMT).
Rome, Industry Minister Adolfo Urso hosts meeting on the
crisis of Glencore's GLEN.L Portovesme zinc and lead factory
in Sardinia (0900 GMT).
Rome, Industry Minister Adolfo Urso attends telecoms
association (ASSTEL) event "Telcos and AI: intelligent networks
for the Country's digital future" (1345 GMT).
Rome, Industry Minister Adolfo Urso hosts meeting on
chemical sector (1600 GMT).
Milan, Deutsche Bank Italian unit presents "Outlook 2025"
(1145 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/