Italy - Factors to watch on April 24
24/04/2017 07:41
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 .
DEBT
Ratings agency Fitch downgraded Italy's sovereign debt on
Friday, citing the country's sluggish economic growth, fiscal
slippage, weak government, banking problems and political risk
ahead of elections due in 2018. Fitch cut Italy's sovereign
credit rating to 'BBB' from 'BBB+', with a stable
outlook. urn:newsml:reuters.com:*:nL8N1HT5Q1
Details of Italy's extra deficit cuts for 2017, worth about
3.4 billion euros, may be released on Monday.
Treasury sells 1.5-2.0 billion euros CTZ bonds due Dec. 28,
2018; 0.750-1.250 billion euros two BTPei bonds due May 15, 2022
and Sept. 15, 2032. Subscriptions close at 0900 GMT.
(*) GOVERNMENT
Industry minister Carlo Calenda is preparing a new decree
combining golden share rules and other measures to protect
Italian companies from hostile takeovers from foreign groups,
reported Affari&Finanza, without giving details.
COMPANIES
Bourse After Hours market closed.
(*) ATLANTIA ATL.MI
The Italian toll-road operator could spend some 11 billion
euros in cash for the tie-up with Spain's Abertis ABE.MC ,
which could be financed with a bridge loan, il Sole 24 Ore
reported on Sunday. The investment vehicle of the Benetton
family, Edizione, which currently controls Atlantia, could hold
a 25 percent stake in the new company, the report added.
(*) FIAT CHRYSLER FCHA.MI
Negotiations to sell its components business Magneti Marelli
to Samsung 005930.KS have restarted, reported Affari&Finanza
without giving details. The report also quoted Samsung's
vice-president Jae Yong Lee as saying that the two companies
maintain a "friendly relationship".
MONTE DEI PASCHI DI SIENA BMPS.MI
Italy's bank bail-out fund, Atlante, is again talking to the
struggling Tuscan bank about helping it bundle and sell off its
non-performing loans, Il Sole 24 Ore newspaper said on Saturday.
Atlante is considering investing 500 million euros to help Monte
dei Paschi, Sole said.
(*) MEDIOBANCA MDBI.MI
The lender's CheBanca unit aims at doubling its wealth
management clients to 12,000 by 2019, the head of the business
Lorenzo Bassani said in an interview with Affari&Finanza.
(*) PRYSMIAN PRY.MI
The world's largest cable maker is looking at Asia, the
Middle East and North America for a new acquisition, possibly
with a local partner, reported Affari&Fiananza. Once completed
the deal to buy a medium-sized company, the current Chief
Executive Valerio Battista could be ready to step down from his
position and may become executive chairman, the report added.
(*) SAFILO SFLG.MI
The group said on Monday it renewed with Authentic Brands
Group the eyewear license agreement for Juicy Couture for five
years. urn:newsml:reuters.com:*:nFWN1HW00Q
ALITALIA CAITLA.UL , INTESA SANPAOLO ISP.MI , UNICREDIT
CRDI.MI
Workers at Italy's loss-making airline Alitalia will wrap up
voting on a preliminary agreement that foresees job and pay cuts
necessary to keep the airline in business. If workers approve
the plan, the flagship airline, which is 49 percent owned by Abu
Dhabi-based Etihad Airways, will move forward on a
2-billion-euro financing package.
Prime Minister Paolo Gentiloni warned on Saturday that
without the plan's approval "Alitalia will not be able to
survive", appearing to rule out government intervention to save
the airline.
(*) MAIRE TECNIMONT MCTM.MI
The group said on Monday it issued a 40.0 million euros in
bonds, for institutional investors only, to support its new
investment, and has further reduced the cost of the existing
bank debt to 1.95 percent. urn:newsml:reuters.com:*:nFWN1HW00F
D'AMICO INTERNATIONAL SHIPPING B7C.MI
Starts capital increase; ends on May 18.
TRADE EX-DIVIDEND:
AUTOSTRADE MERIDIONALI AUMI.MI of 0,60 euro per share;
BANCA MEDIOLANUM BMED.MI of 0.24 euro per share as final
dividend (interim of 0.16 euro per share as interim dividend on
Nov. 21, 2016); CNH INDUSTRIAL CNHI.MI of 0.11 euro per share;
DE LONGHI DLG.MI of 0.80 euro per share; ENI ENI.MI of 0.40
euro per share as final dividend (0.40 euro as interim dividend
on Sept. 19, 2016); FERRARI NV RACE.MI of 0.635 euro per
ordinary share; FINECOBANK FBK.MI of 0.28 euro per share;
PIAGGIO PIA.MI 0.055 euro per share; PRYSMIAN PRY.MI of 0,43
euro per share; RECORDATI RECI.MI of 0.35 euro per share as
final dividend (interim of 0.35 euro per share as interim
dividend on Nov. 21, 2016), SERVIZI ITALIA SERIT.MI of 0.15
euro per share.
((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/
Keywords: ITALY FACTORS/APRIL 24