Italy - Factors to watch on May 11
11/05/2020 05:00
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 .
CORONAVIRUS
Deaths from the COVID-19 epidemic in Italy rose by 165 on
Sunday, against 194 the day before, the Civil Protection Agency
said as the daily tally of new cases fell to 802 from 1,083 on
Saturday. urn:newsml:reuters.com:*:nL8N2CS0FX
ECONOMY
ISTAT releases March industrial output (0800 GMT).
Large Italian companies have requested 18.5 billion euros
($20 billion) in state-guaranteed loans to weather the
coronavirus crisis, state-backed export credit agency SACE said
on Saturday. urn:newsml:reuters.com:*:nL8N2CR07P
Italy's government is readying new measures to support
companies struggling due to the coronavirus crisis, including
tax incentives and hybrid bonds, and aims to access the European
Recovery Fund in the second half of the year, Economy Minister
Roberto Gualtieri said on Sunday. urn:newsml:reuters.com:*:nL8N2CS08X
Italy's government is considering providing state guarantees
for up to 15 billion euros ($16.26 billion) of bonds issued by
the country's banks, a draft decree obtained by Reuters showed
on Sunday. urn:newsml:reuters.com:*:nL8N2CS0EX
DEBT
Italy's Treasury said on Friday it would sell up to 9
billion euros in bonds at an auction on Wednesday. urn:newsml:reuters.com:*:nL8N2CQ1YO
Credit ratings agency DBRS Morningstar cut Italy's trend to
'negative' from 'stable' on Friday, blaming considerable
uncertainty over the economic repercussions stemming from the
COVID-19 outbreak. urn:newsml:reuters.com:*:nL4N2CQ3Z4
Moody's that was set to review ratings on Friday did not
make any changes, leaving the country's outlook at 'stable' and
rating at 'Baa3', one notch above junk territory.
COMPANIES
UBI BANCA UBI.MI , INTESA SANPAOLO ISP.MI
Italy's UBI Banca, the target of an unsolicited takeover bid
by rival Intesa Sanpaolo, said on Friday it could weather the
coronavirus crisis as it reported better than expected net
profit for the first quarter. urn:newsml:reuters.com:*:nL8N2CQ504
The group of core UBI shareholders, which is yet to give an
opinion on the Intesa bid, has traditionally supported the
board's decisions in the past, UBI Banca CEO told Corriere della
Sera on Saturday.
The Lucchini family, which owns 0.65% of UBI Banca, has
exited the so-called Sindacato Azionisti di Brescia shareholder
pact and now supports Intesa's bid on the bank, Il Sole 24 Ore
reported on Saturday. Giuseppe Lucchini, a prominent member of
the family, told the daily that Intesa's bid is a "very good
starting point".
INTESA SANPAOLO
U.S. fund BlackRock was the second largest shareholder in
the Italian bank as of May 7 with a 5.009% stake, Intesa
Sanpaolo said on its website.
MEDIOBANCA MDBI.MI
The Bollore group BOLL.PA cut its stake in the bank by 1%
to 5.7% in January, according to the French company's annual
report published on May 7.
FIAT CHRYSLER FCHA.MI
The carmaker will return to full production at its Italy's
Melfi plant from May 21, unions said on Friday. urn:newsml:reuters.com:*:nL8N2CQ61I
OVS OVS.MI
The retailer is engaging in constructive talks to access
credit lines under the SACE guarantee scheme, OVS said in a
statement on Friday. It also said it would report last year
results on May 26 and Q1 results on July 9.
FINCANTIERI FCT.MI
The shipbuilder's CEO told Milano Finanza on Saturday that
the company would release an updated business plan when it
publishes its first-half results. The CEO also said the priority
was to avoid a fall in the order portfolio.
ENI ENI.MI
Eni's growth objectives in its four-year plan are on an
organic basis and do not depend on acquisitions, the company
said in answers provided to shareholders ahead of its
shareholders' meeting on Wednesday. It added that with regards
to potential sales, there are different options aimed optimising
and de-risking the company's portfolio and these will be
evaluated coherently with the evolving scenario.
(*) SALINI IMPREGILO SALI.MI
The Italian construction group said it was shortlisted to
design and build the Valley Line West Light Rail Transit project
in Edmonton, Canada, a project worth C$1.7 billion ($1.22
billion). urn:newsml:reuters.com:*:nFWN2CS00P
BIESSE BSS.MI
The company on Friday said its Q1 revenue fell to 147.7
million euros from 169 million euros one year ago. It added it
had withdrew its 2020 guidance. urn:newsml:reuters.com:*:nFWN2CQ1CQ
(*) MAIRE TECNIMONT MTCM.MI
After winning a 1.2 billion euros contract in Russia,
announced last week, Chairman Fabrizio Di Amato told La Stampa
on Sunday that the area is "promising" and that new
opportunities will come from it. Di Amato said that he expects
the group to close the year "with a slight fall", adding that
some projects are postponed but the company expects to put them
back on track and win another important contract.
The Italian group said it had finalized an EPC contract with
the Egypt Hydrocarbon Corporation S.A.E. for a new Ammonia plant
in Egypt. The contract's value is approximately $550 million.
urn:newsml:reuters.com:*:nBIA7V7hpf
EDISON EDNn.MI
The sale of the Exploration and production branch is going
in the "right direction", the head of Amber Capital Joseph
Oughourlian told la Repubblica on Sunday.
AS ROMA ASR.MI , JUVENTUS FC JUVE.MI , SS LAZIO LAZI.MI
The companies holding the broadcasting rights to Italy's top
flight Serie A championship, including Comcast's unit SKY
CMSA.O , have not paid the last instalment of the 2019/2020
season, halted due to the coronavirus outbreak, three sources
familiar with the matter said. urn:newsml:reuters.com:*:nL8N2CO778
BANCA MONTE DEI PASCHI DI SIENA BMPS.MI
Chairwoman Stefania Bariatti holds online conference (1000
GMT).
FINECOBANK FBK.MI
Board meeting on Q1 results, followed by conference call
(1200 GMT).
INWIT INWT.MI
Board meeting on Q1 results.
RCS MEDIAGROUP RCSM.MI
Board meeting on Q1 results.
DIARY
Cabinet expected to hold meeting on 'Re-launch Italy'
stimulus package.
Foreign Press Association holds FB live streaming with
Infrastructure and Transport Minister Paola De Micheli on
"Mobility during phase 2" (1300 GMT).
'Milano Capitali' conference starts (from 0800 GMT), ends on
May 14. Three panels with Milan Mayor Giuseppe Sala, Deputy
Economy Minister Antonio Misiani, Italian Banking Association
ABI Director General Giovanni Sabatini, market regulator Consob
President Paolo Savona, Wiener Borse CEO Christoph Boschan,
Euronext CEO Stephane Boujnah, BX Swiss CEO Lucas Bruggeman, MTS
President Maria Cannata, Nasdaq-European Markets President Bjorn
Sibbern, Italian Stock Exchange President Andrea Sironi.
Online conference "Italy generates future" with Bank of
Italy Director General Daniele Franco, Credit Agricole CAGR.PA
Italian unit CEO Giampiero Maioli, Huawei HWT.UL Italian unit
CEO Thomas Miao, Edison EDNn.MI CEO Nicola Monti, Mutti
Chairman Francesco Mutti, Scarpa CEO Diego Bolzonello, Balocco
Chairman and CEO Alberto Balocco (0800 GMT).
Italy's textile and fashion association (SMI) President
Marino Vago holds online news conference to present "Focus
Textile Clothing", survey on the impact of COVID-19 on the
sector in Q1 2020 (1000 GMT).
((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/
($1 = 1.3912 Canadian dollars)