Italy - Factors to watch on June 24

BAE Systems

Yesterday 05:00

The following factors could affect Italian markets on Wednesday.
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. 

POLITICS
Italian Prime Minister Giorgia Meloni said on Tuesday relations with the United States had to return to normal following a public falling out between President Donald Trump and herself last week.
Italy cannot hold a national election in April because it would not give the government enough time to approve its plans to devolve more powers to regional authorities, Economy Minister Giancarlo Giorgetti said on Tuesday.

ECONOMY
Italy still has a chance of exiting a European Union infringement procedure for its excessive budget deficit this year, Economy Minister Giancarlo Giorgetti said, as the country's 2025 deficit could be revised downwards within the EU's 3% ceiling in September.

DEBT
Italy's Treasury said on Tuesday it would offer new 5-year, 7-year and 10-year BTP bonds in the third quarter of the year.
In its quarterly issuance guidelines, it said that it would also offer a new Short Term BTP bond maturing on October 30, 2028.
(*) The Rome-based Treasury also said, separately, it would sell up to €9 billion in bonds at a June 26 auction. 
        

COMPANIES 
UNICREDIT CRDI.MI
UniCredit Chief Executive Andrea Orcel said on Tuesday it was more likely than initially anticipated that the European Central Bank would declare the Italian bank in control of Commerzbank CGKG.DE, given the outcome of its takeover offer. 

FERRARI RACE.MI 
Ferrari has appointed former BMW Italy head Massimiliano Di Silvestre as its chief marketing and commercial officer, replacing long-serving executive Enrico Galliera.

ENI ENI.MI 
Eni has signed a Memorandum Of Intent with the authorities in Albania to carry out a feasibility study to establish and manage a national strategic hydrocarbons reserve and energy hub.
   
(*) LEONARDO LDOF.MI 
More countries could join the Global Combat Air Programme  fighter project involving Italy, Britain and Japan, the Italian defence minister said on Tuesday, stressing that opening the venture to other nations would allow greater sharing of costs. 
GCAP is an effort to build a next-generation fighter ​by a joint venture of Britain's BAE Systems BAES.L, Italy's Leonardo LDOF.MI and ​Japan Aircraft Industrial Enhancement (JAIEC), which is backed by Mitsubishi Heavy Industries 7011.T.

(*) SAIPEM SPMI.MI

         The general superintendence of Brazil's antitrust watchdog CADE 
    approved the proposed merger
     between energy contractors Subsea7 SUBC.OL and Saipem SPMI.MI without restrictions, a document seen by Reuters showed on Tuesday. 
  

    The energy services group said on Wednesday it signed a legally binding sale and purchase agreement with Saudi Arabia's ADES for the divestment of its shallow water drilling activities in the country, in a transaction worth $285 million.
  

        
  

    (*) MAIRE MTCM.MI 
  
The engineering group on Wednesday said it had signed a memorandum of understanding (MoU) with the Sovereign Wealth Fund of Kazakhstan Samruk-Kazyna to cooperate on the development of a sustainable aviation fuel (SAF) platform in Kazakhstan, leveraging on Nextchem's technology portofolio and expertise.   

        
  

    (*) POSTE ITALIANE PST.MI 
  

    Barclays raised its rating on the state-backed conglomerate to 'overweight' from 'equal-weight' and raised the target price to 35.20 euros from 21.60 euros.  
  

               
ITALGAS IG.MI 
Europe's largest gas distributor Italgas will invest €13 billion ($14.85 billion) through 2032 as it increases the use of artificial intelligence and expands across Italy, it said on Tuesday.

(*) EDISON EDNn.MI 

    Chief Executive Nicola Monti and the head of the group's green power unit present recent investments in the group's wind farms in central Italy in a press conference call. (1200 GMT)
  
   

DIARY 
Berlin, Italian Prime Minister attends meeting with leaders of Germany, Britain, France and Poland where defence issues will be discussed.

        
  

        
  
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
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/