Italy - Factors to watch on Dec. 3

Banco di Desio e della Brianza

03/12/2024 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
    Tommaso Foti, a close ally of Prime Minister Giorgia Meloni,
was on Monday appointed Italy's new EU and regional affairs
minister, taking on the daunting task of overseeing the spending
of EU post-COVID funds.
    
    DEBT
    Italy posted a state sector budget deficit of 5.1 billion
euros ($5.35 billion) in November, widening from a deficit of
1.29 billion euros in the same month of 2023, the Treasury said
on Monday.
    
    COMPANIES    
    STELLANTIS  STLAM.MI  
    The automaker is considering Chief Purchasing and Supplier
Quality Officer Maxime Picat and Chief Operating Officer for
North America Antonio Filosa as internal candidates for the CEO
position, a source told Reuters on Monday. The source added that
external candidates are also being considered.
    Outgoing CEO Carlos Tavares clashed with Stellantis' board
over his plans to quickly turn around the ailing U.S. business
by cutting costs, rather than focusing on long-term strategy,
investors and bankers familiar with the matter said on Monday.
    The Italian government wants to protect jobs and supply
chains in its talks with Stellantis and aims to achieve its
goals at a planned meeting with the company on Dec. 17, Prime
Minister Giorgia Meloni said on Monday.
    New car sales in Italy fell by 10.8% year-on-year in
November, transport ministry data showed on Monday. Stellantis
held a 24.9% share of the market, compared to 25.15% in the
previous month, according to Reuters calculations.
    
    UNICREDIT  CRDI.MI  
    The Italian government is ready to use its special vetting
powers if UniCredit's takeover bid for smaller rival Banco BPM
goes against the national interest, Prime Minister Giorgia
Meloni said on Monday.
    Fitch affirmed the bank's long-term IDR and senior preferred
rating at BBB+, and said the Banco BPM  BAMI.MI  transaction
would not affect the rating.
    
    SALVATORE FERRAGAMO  SFER.MI  
    The Italian luxury group said on Monday that an impairment
test on its full-year financial statements is likely to lead to
an overall cumulative write-down in the range of 70-90 million
euros.  
    
    LEONARDO  LDOF.MI  
    An agreement between Italy, Britain and Japan on the Global
Combat Air Programme (GCAP) for a new fighter jet will be signed
on Dec. 13, the CEO of Leonardo Roberto Cingolani said on
Monday, adding it will be seen on that day whether Saudi Arabia
will join in. 

    DIARY
        Rome, Cabinet meeting (1100 GMT).
  
        Barcelona, Bank of Italy Governor and ECB board member
Fabio Panetta to speak at the 20th Spain-Italy Dialogue Forum. 
  
        Rome, Industry Minister Adolfo Urso chairs meeting on
Eni Versalis (1700 GMT).
  
        Rome, general assembly of logistics association ALIS;
expected attendees include Foreign Minister Antonio Tajani,
Infrastructure and Transport Minister Matteo Salvini, Civil
Protection and Sea Minister Nello Musumeci, Environment and
Energy Security Minister Gilberto Pichetto Fratin, Defence
Minister Guido Crosetto, Interior Minister Matteo Piantedosi.
  
        Rome, Italian Nuclear Association (AIN) holds meeting
"The Italian industry and the opportunities of the new nuclear
power" (0800 GMT); expected attendees include Industry Minister
Adolfo Urso, Environment and Energy Security Minister Gilberto
Pichetto Fratin (via video message).
  
        Rome, Industry Minister Adolfo Urso attends event
"Southern Italy on the move, the challenge of sustainable
mobility in the South" (1200 GMT).
  
        Rome, National Cybersecurity Agency (ACN) Director
General Bruno Frattasi presents the work of the G7 Cybersecurity
Working Group (1600 GMT).
  
    Rome, "Space and underwater conference" (0800 GMT); expected
attendees include Leonardo  LDOF.MI  CEO Roberto Cingolani,
Fincantieri  FCT.MI  CEO Pierroberto Folgiero, Civil Protection
and Sea Minister Nello Musumeci, Industry Minister Adolfo Urso,
Cabinet Undersecretary Alessio Butti, Italian Space Agency (ASI)
Director General Luca Salamone, Energy and Sustainable Economic
Development (ENEA) Director General Giorgio Graditi.
    Milan, 6th edition 'GeoEconomy talk' on "Innovative
companies and growth strategies" (0815 GMT); expected attendees
include ECB board member Piero Cipollone (via recorded message),
Deutsche Bank  DBKGn.DE  Italian CCO Roberto Parazzini, Banco
Desio  DESI.MI  CEO Alessandro Decio, Electrolux  ELUXb.ST 
Italian CEO Manuela Soffientini, Terna  TRN.MI  CFO Francesco
Beccali, Credito Emiliano  EMBI.MI  director General Angelo
Campani, Mastercard  MA.N  Italian Country Manager Luca Corti.
    Milan, Morningstar DBRS presents "2025 Credit Outlook Milan"
(0745 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/