Italy - Factors to watch on June 1
01/06/2023 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 cabinet on Wednesday approved a bill to create a
fund to support domestic firms, the industry minister said in a
statement, in a move aimed at shoring up strategic supply
chains.
The upcoming national strategic fund for "Made in Italy"
products will have an initial endowment of 1 billion euros
($1.10 billion) in state cash, the statement said, adding it
would also aim to boost procurement of "critical raw materials."
The head of Italy's central bank Ignazio Visco on Wednesday
backed the introduction of a minimum wage to address social
inequalities, in comments that contrast with the position of
Rome's right-wing government.
COMPANIES
STELLANTIS STLAM.MI
The Moody's ratings agency on Wednesday upped the outlook
for the Italo-Franco-American carmaker to positive from stable,
citing its "continued progress in terms of margins and leverage
improvements".
It also said a long-term rating upgrade to Baa1 from Baa2 is
"likely" if the company is able to sustain adjusted EBITA
margins of more than 8% and keep its debt/EBITDA ratio below
2.0x.
LEONARDO LDOF.MI
Italy's government on Wednesday lifted an arms embargo on
Saudi Arabia linked to the war in Yemen, saying it was no longer
necessary given the improved situation on the ground and
Riyadh's role in peace mediation efforts.
TELECOM ITALIA (TIM) TLIT.MI
Italian state lender CDP will hold a board meeting on
Thursday but it will not discuss the bid for TIM's landline
grid, a source said, adding that CDP is still working on the
matter with its partner Macquarie MQG.AX ahead of a June 9
deadline set by TIM to receive improved offers for the asset.
MAIRE TECNIMONT MTCM.MI
The Italian engineering group said on Wednesday it would
work with the government of Azerbaijan on possible joint
projects on renewable energy, energy efficiency and energy
transition.
FINECO FBK.MI
The Italian bank will enter the FTSE EuroMid index from June
19, FTSE Russell said.
FTSE MIB
No changes in the FTSE MIB blue chip index following a
quarterly review, FTSE Russell said.
ECONOMY
May PMI manufacturing HCOB data (0745 GMT).
ISTAT releases April unemployment rate date (0800 GMT).
Transport Ministry releases May car sales data (1600 GMT).
May state sector borrowing requirement data.
DEBT
Treasury announces coupons of new 4-year 'Btp Valore', BTP
bond for retail investors only.
COMPANIES
AUTOGRILL AGL.MI
Dufry DUFN.S ends full mandatory takeover bid on Autogrill
ordinary shares.
DIARY
Moldova, Italian Prime Minister Giorgia Meloni attends
second European Political Community (EPC) meeting to discuss
issues affecting the continent, including security and energy.
Oslo, NATO Foreign ministers meeting ends; Italian
Foreign Minister Antonio Tajani attending.
Washington, Italian Industry Minister Adolfo Urso starts his
visit to U.S.; ends on June 2.
Rome, Italian President Sergio Mattarella attends a concert
in honour of accredited diplomatic corps; senior institutional
figures attending (1600 GMT).
Rome, government holds meeting with state auditor 'Corte dei
Conti'; expected attendees include European Affairs, South and
PNRR Minister Raffaele Fitto, Cabinet Undersecretaries Alfredo
Mantovano and Giovanbattista Fazzolari; Corte dei Conti
President Guido Carlino, Deputy President Tommaso Miele,
Attorney General Angelo Canale, Secretary General Franco Massi.
Rome, Joint Operations Command (COVI) Chief General
Francesco Paolo Figliuolo speaks before Senate and Chamber of
Deputies Foreign Affairs and Defence committees on Italy's
participation in foreign military missions (0600 GMT).
Rome, state lender Cassa Depositi e Prestiti (CDP) holds
annual general meeting on 2nd call.
Turin, "Economy International Festival" starts (0900 GMT);
ends on June 4. On Thursday expected attendees include EU
Competition Commissioner Margrethe Vestager via videoconference
(0900 GMT); expected attendees include at opening ceremony
Piedmont Governor Alberto Cirio, Turin Mayor Stefano Lo Russo
(1000 GMT); dialogue with 2001 Economy Nobel Prize winner
Michael Spence (1030 GMT); John Elkann, Chairman for Stellantis
STLAM.MI , Ferrari RACE.MI , Exor EXOR.AS (1200 GMT); EU
Economy Commissioner Paolo Gentiloni (1300 GMT); Intesa Sanpaolo
ISP.MI Chairman Gian Maria Gros-Pietro (1400 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/