Italy - Factors to watch on October 11

Brembo NV

11/10/2024 05:00

The following factors could affect Italian markets on Friday.
    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
    Israeli forces have acted illegally by shooting at positions
used by U.N. peacekeepers in Lebanon, Italian Defence Minister
Guido Crosetto said on Thursday, denouncing it as a possible war
crime.    
    (*) Ukrainian President Volodymyr Zelenskiy met Prime
Minister Giorgia Meloni on Thursday evening. After their talks,
Meloni, staunchly against Ukraine using its Storm Shadows to hit
Russia, said that Italy was determined to help Ukraine for as
long as necessary.    
    
    ECONOMY
    Bank of Italy releases quarterly 'Economic Bulletin'.
    
    DEBT
    Treasury sells following BTP bonds: 1.5-2.0 billion euros
3.45% due July 15, 2027; 1.0-1.5 billion euros 2.65% due Dec. 1,
2027; 3.0-3.5 billion euros 3.45% due July 15, 2031; 1.0-1.25
billion euros 4.15% due Oct. 1, 2039; 1.0-1.25 billion euros
3.45% due March 1, 2048. Subscriptions close at 0900 GMT.
    
    COMPANIES
    BPER BANCA  EMII.MI  
    BPER will not buy back its own shares over the next three
years but rather use dividends to reward investors, its Chief
Executive Gianni Franco Papa said, as the Italian bank on
Thursday hiked its payout ratio to 75% under a new multi-year
strategy.
    
    STELLANTIS  STLAM.MI 
    (*) The car maker confirmed on Thursday that CEO Carlos
Tavares would retire at the end of his contract in early 2026
and announced major senior management changes as it struggles to
turn around its lagging North American operations.
    Italy's ruling parties called on the government to summon
senior Stellantis management to clarify their plans for the
country, a request which could increase friction between Rome
and the automaker, a document seen by Reuters on Thursday
showed.
    Italy's cabinet said on Thursday Stellantis robotics
business Comau will have to preserve production plants and
central functions in Italy as Rome approved under conditions the
sale of a majority stake in the company to One Equity Partners.
    
    MONTE DEI PASCHI  BMPS.MI 
    The company's 16,500 workers will receive a bonus in cash or
welfare benefits to the value of 750 euros this year under a
deal struck by the bank and unions.     
    (*) Italy's Treasury will wait until after the regional
elections in mid-November to further cut its stake in the Tuscan
bank, La Stampa reported on Friday. The daily added that Rome
aims to sell its stake to a consortium of entrepreneurs, headed
by the chairman of Banca Finint and Venice airport managing
company Enrico Marchi, and a commercial partner, which will buy
a minority share but without having governance rights. 
     
    (*) BREMBO  BRBI.MI  
    The premium brake maker said on Friday it bought suspension
technology manufacturer Ohlins Racing from Apollo-backed Tenneco
for $405 million, on a cash free-debt free basis. 
    
    ENERGY
    Italy is looking at U.S. energy group Westinghouse or
France's EDF as potential international partners for a
state-backed company that will build advanced nuclear reactors
in the country, two sources familiar with the matter said on
Thursday.      
        
    (*) M&A - ITA
    Lufthansa's  LHAG.DE  long-promised turnaround of ITA
Airways, crucial to help revive the German airline's fortunes,
is interlinked with Rome airport Fiumicino's ability to
implement an ambitious expansion plan.
    
    DIARY
    President Sergio Mattarella attends Arraiolos Group meeting
in Krakov, Poland.
    Prime Minister Giorgia Meloni attends 11th "EuroMed9"
Southern European Countries Summit in Cyprus (1100 GMT).
    Rome, Stellantis  STLAM.MI  CEO Carlos Tavares addresses
Senate and Chamber of Deputies Industry committees (1130 GMT).
    Rome, Economy Minister Giancarlo Giorgetti holds bilateral
meeting with U.S. Trade Undersecretary Gina Raimondo (1030 GMT).
        Rome, Stellantis  STLAM.MI  CEO Carlos Tavares meets
representatives from trade unions UGLM, AQCFR e FISMIC CONFSAL
secretaries (0800 GMT).
  
        Milan, Brothers of Italy party holds event "Making Italy
grow together" (0830 GMT); expected attendees include Economy
Minister Giancarlo Giorgetti (interviewed via videoconference),
Economy Deputy Minister Maurizio Leo, Milan Stock Exchange CEO
Fabrizio Testa, Eni  ENI.MI  CEO Claudio Descalzi.
  
    Ancona, G7 'Health' ministerial meeting ends.
    Capri, business lobby Confindustria youth section starts
39th conference "Horizons, companies and development in the
Mediterranean" (1300 GMT); ends on 12 October. On Friday
expected attendees include Agriculture Minister Francesco
Lollobrigida, state lender Cassa Depositi e Prestiti (CDP) CEO
Dario Scannapieco, A2A  A2.MI  CEO Renato Mazzoncini, Fibercop
CEO Luigi Ferraris.     
    Marghera, Fincantieri  FCT.MI  CEO Pierroberto Folgiero
attends Elis Consortium CEO meeting "Inclusion for growth" (0930
GMT).
        Vatican City, Pope Francis meets Spanish Prime Minister
Pedro Sanchez (0700 GMT); followed by Sanchez's news conference.
  
        Vatican City, Pope Francis meets Ukrainian President
Volodymyr Zelenskiy (0730 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/