Italy - Factors to watch on September 16

Brembo NV

16/09/2024 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 .
    
    POLITICS
    An Italian prosecutor on Saturday asked a judge to sentence
right-wing League leader Matteo Salvini to six years in prison
over his 2019 decision to prevent more than 100 migrants from
landing in the country.
    
    The foreign ministers of the Group of the Seven (G7)
industrialised powers on Saturday condemned "in the strongest
terms" Iran's export and Russia's procurement of Iranian
ballistic missiles.
    Italy this year holds the rotating presidency of the G7.
     
    BANKING SECTOR
    Antonio Tajani, leader of the co-ruling Forza Italia party,
said on Saturday his party was opposed to the introduction of a
new tax on banks' profits and denied that Economy Minister
Giancarlo Giorgetti had spoken to his government allies about
such a measure.
    According to Saturday's la Repubblica, Giorgetti told an
Ecofin meeting in Budapest on Friday he was open to discussing
his Croatian counterpart's proposal about taxing banks' windfall
profits. The paper said the discussion among finance ministers
on the subject will be tabled at the November Ecofin meeting.

    An Italian appeals court overturned a 2021 ruling convicting
37 people and three firms for deadly pollution linked to the
former Ilva steelworks on Friday and ordered a retrial, ANSA
news agency said.
    
    Nippon Steel may be interested in buying Ilva, daily Il Sole
24 Ore reported on Saturday. Representatives of Italy's
government and Japan's embassy discussed the potential offer
last week, on the sidelines of the Ambrosetti Forum in
Cernobbio, the newspaper said.
    
    ISTAT releases August CPI final data (0800 GMT) and July
foreign trade data (0900 GMT).
    Bank of Italy releases July data on public finances, state
borrowing and debt.

    COMPANIES
    ENI  ENI.MI 
    The Italian energy group is in talks with several funds over
the potential sale of a minority stake in its renewable and
retail business Plenitude, two sources with knowledge of the
matter said on Friday.

    SAIPEM  SPMI.MI 
    The Italian energy engineering group said on Sunday it had
won an offshore contract worth $4 billion from QatarEnergy, one
of the world's top suppliers of liquefied natural gas (LNG).
           
    STELLANTIS  STLAM.MI 
    Europe's second biggest carmaker is pushing back against any
move by the European Union to delay emissions targets set to
take effect next year, setting up a potential clash with other
manufacturers in the region, the AFP news agency reported on
Sunday.
    "It would be surreal to change the rules now," the group's
Chief Executive Officer Carlos Tavares was reported as saying.
    
    UNIEURO  UNIR.MI 
    The Italian government is concerned about some aspects of
French retailer Fnac Darty's  FNAC.PA  bid for the Italian
consumer electronics retail group, and may seek reassurances
under its so-called Golden Powers to intervene in strategic
sectors, La Stampa and other newspapers reported on Sunday.

    CAMPARI  CPRI.MI 
    Shares in the Italian spirits group fell more than 6% on
Friday with traders citing comments by the company's chief
executive at a conference about a "very soft" environment for
the industry in the current quarter.
    
    UNICREDIT  CRDI.MI 
    The European Central Bank approved the Italian bank's 1.7
billion euros share buy-back tranche.
    
    BREMBO  BRBI.MI , MFE MEDIAFOREUROPE  MFEA.MI  MFEB.MI 
    Euronext, the owner of Milan Bourse, said on Friday that
after its quarterly review it included MFE-MediaForEurope shares
 MFEA.MI   MFEB.MI  in its MIB ESG index while excluding those
of Brembo  BRBI.MI . 
    The decision will be implemented after markets close on
Friday 20 September 2024, and will be effective from Monday 23
September 2024, it added.
    
    DIARY
    Rome, cabinet meeting (1845 CET)
    Rome, G7-IEA Conference on Ensuring an Orderly Energy
Transition at the Bank of Italy (Palazzo Koch) from 0830-1700
CET. Among speakers: Bank of Italy Governor Fabio Panetta;
Italian Economy Minister Giancarlo Giorgetti; Mary Burce
Warlick, Deputy Executive Director of the International Energy
Agency; Irene Heemskerk, Head, Climate Change Centre, European
Central Bank; Mark Carney, Co-Chair for GFANZ and UN Special
Envoy on Climate
Action and Finance; Lapo Pistelli, Director, Public Affairs,
ENI; Riccardo Barbieri Hermitte, Director General, Department of
the Treasury, Ministry of Economy and Finance, Italy; Luigi
Federico Signorini, Senior Deputy Governor, Banca d’Italia. https://www.bancaditalia.it/media/notizia/g7-iea-conference-on-ensuring-an-orderly-energy-transition/?dotcache=refresh
           
    
    ((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/