Italy - Factors to watch on May 9
09/05/2023 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 to hold meetings with
opposition parties to discuss plans for institutional reforms
(from 1030 GMT onwards).
DEBT
Italy will sell up to 8.75 billion euros in BTP bonds at a
May 11 auction, the Treasury said on Monday.
COMPANIES
BANCO BPM BAMI.MI
Italy's third-largest bank on Monday raised its 2023 profit
goal, after joining peers in posting stronger-than-expected
first-quarter earning thanks to higher interest rates.
In a conference call, CEO Giuseppe Castagna was confident
that the bank would further increase its shareholders'
remuneration policy and said no M6A operation could be as
profitable as organic growth.
ENEL ENEI.MI
Rebel investor Covalis criticised Italy's institutional
investor club Assogestioni for not seeking an independent chair
at Italy's biggest utility and called for a new organisation to
promote corporate governance reform.
LEONARDO LDOF.MI
Annual general meeting expected to approve the Italian
government's nominations of former energy minister Roberto
Cingolani as CEO and former ambassador Stefano Pontecorvo as
chairman (from 0830 GMT).
Cingolani will have the additional role of Director General,
while the head of the Italian unit of European missile maker
MBDA Lorenzo Mariani will return to Leonardo with the role of
co-director general, sources told Reuters.
Italy's antitrust agency has dismissed a
conflict-of-interest complaint against Cingolani's appointment
at Leonardo, the opposition lawmaker behind the complaint told
Reuters on Monday.
TELECOM ITALIA (TIM) TLIT.MI
The phone group has sent a new process letter to KKR KKR.N
and the CDP-Macquarie MQG.AX consortium, who are pursuing
rival bids for TIM's landline grid, asking for clarifications on
their offers and on next steps ahead of the June 9 deadline for
the submission of final offers, two sources close to the dossier
said on Monday.
A2A A2.MI
The Italian utility announced on Monday the mutually-agreed
end to exclusivity on negotiations for the purchase of a 50.1%
stake in EGEA, adding that the negotiations would continue in
the context of a competitive procedure open to others.
BANCA MONTE DEI PASCHI DI SIENA BMPS.MI
Releases Q1 results (before Bourse opening), followed by
conference call (0700 GMT).
TERNA TRN.MI
Annual general meeting (0900 GMT).
FINECOBANK FBK.MI
Board meeting on Q1 results, followed by conference call
(1200 GMT).
BREMBO BRBI.MI
Board meeting on Q1 results (0730 GMT), followed by
conference call (1230 GMT).
DIASORIN DIAS.MI
Board meeting on Q1 results, followed by conference call
(1300 GMT).
BANCA POPOLARE DI SONDRIO BPSI.MI
Board meeting on Q1 results, followed by conference call
(1400 GMT).
BPER BANCA EMII.MI
Board meeting on Q1 results, followed by conference call
(1600 GMT).
INWIT INWT.MI
Board meeting on Q1 results, followed by conference call
(1600 GMT).
AUTOGRILL AGL.MI
Board meeting on Q1 results (revenues up to April 30).
CREDITO EMILIANO EMBI.MI
Board meeting on Q1 results.
FINCANTIERI FCT.MI
Board meeting on Q1 results.
DIARY
Industry Minister Adolfo Urso ends two-day mission to
Romania; bilateral meeting with Romanian Economy Minister Florin
Spataru (0800 GMT); Environment Minister Barna Tanczos (0930
GMT).
The European House Ambrosetti holds closed-door event
"Scenario forum: business and professions" with Economy Deputy
Minister Maurizio Leo (0700 GMT).
PwC Italia holds new meeting online for 'Italy 2023: people,
work, companies' cycle on "Sustainability and EU rules:
implications for companies" with joint stock companies
association Director General Stefano Firpo, Environment and
Energy Security Minister Gilberto Pichetto Fratin (0800 GMT).
Rome, Economy Minister Giancarlo Giorgetti attends
swearing-in ceremony of new Commander General of tax police
'Guardia di Finanza' (1500 GMT).
Rome, banking association ABI representative to speak before
Chamber of Deputies Finance Committee on tax reform (1230 GMT).
Milan, "Made in Steel" starts (0830 GMT); ends on May 11. On
Tuesday Fiera Milano FIMI.MI CEO Luca Palermo, Federacciai
President Antonio Gozzi delivering opening addresses (0830 GMT);
expected attendees include at conference "Words of future" Milan
Stock Exchange President Claudia Parzani (0930 GMT); at
conference "Europe of new markets" Danieli & C. DANI.MI
Chairman Giampiero Benedetti (1230 GMT).
Milan, IRTOP Consulting holds EGM (Euronext Growth Milan)
Investor Day (0800 GMT); expected attendees include Gibus
GBUSS.MI CEO Alessio Bellin (0815 GMT), Lindbergh LDB.MI CEO
Michele Corradi (0830 GMT), SG Company SB SGCO.MI CEO Davide
Verdesca (0845 GMT), Portobello PORTO.MI Chairman Pietro
Peligra (0900 GMT), Laboratorio Farmaceutico ERFO ERFO.MI CEO
Alessandro Cutè (0915 GMT), SCM SIM SCM.MI CEO Antonello Sanna
(0930 GMT), Take Off TKOF.MI CFO Paolo Mongelli (0945 GMT),
Neosperience NSP.MI CEO Dario Malpignano (1000 GMT); First
Capital FICP.MI CEO Vincenzo Polidoro attends round-table
discussion with investors (1015 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/