Italy - Factors to watch on Jan. 8

Brioschi Sviluppo Immobiliare SpA

08/01/2019 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 .
    
    ECONOMY
    Bank of Italy releases December data on Target 2 liabilities
and European Central Bank funding to Italian banks.
    
    DEBT
    Treasury announces sale of BTP bonds, with relative amounts
to be auctioned on Jan. 11.
    
    COMPANIES
    
    BANCA CARIGE  CRGI.MI 
    The Italian government approved a decree aimed at shoring up
troubled lender Banca Carige, offering it access to a series of
state-support options including re-capitalisation.  urn:newsml:reuters.com:*:nL8N1Z713A
    Special commissioners expected to meet trade unions (1030
GMT).    
(*) A potential precautionary re-capitalisation would cost 1.2
billion euros, Corriere della Sera said.
(*) The lender's commissioners may pre-announce a new bond
issue, moves to accelerate on the sale of bad debts and other
measures already on Tuesday, Corriere della Sera added. 
(*) The government's decree also includes guarantees on
extraordinary financing issued by the Bank of Italy/the ECB, the
so-called emergency liquidity assistance, Il Sole 24 Ore said. 
(*) In the outcome of stress tests concluded in November
Carige's CET 1 ratio has fallen to 2-3 percent in the worst case
scenario, Il Messaggero said. 
        
    FERRARI  RACE.MI 
    Ferrari appointed Mattia Binotto as their fourth Formula One
principal in less than five years on Monday, with previous
incumbent Maurizio Arrivabene paying the price for their
continuing lack of titles.  urn:newsml:reuters.com:*:nL8N1Z757Z
    
    BRUNO CUCINELLI  BCU.MI 
    Italy's Brunello Cucinelli 2018 revenues rose 8.1 percent to
553 million euros, in line with expectations.  urn:newsml:reuters.com:*:nFWN1Z712J 
(*) J.P. Morgan cut its target price on the stock to 27.50 euros
from 29 euros. urn:newsml:reuters.com:*:nFWN1Z80DY
    
(*) FIAT CHRYSLER  FCHA.MI   FCAU.N 
    Jefferies cut its target price on the stock to $18  FCAU.N 
and 16 euros  FCHA.MI . 
    
(*) BPER BANCA  EMII.MI  
    The lender should present a new business plan in the first
half of February, which will probably include extraordinary
measures such as the acquisition of Unipol Banca, MF said. 
    
(*) SNAM  SRG.MI 
    Exane BNP Paribas raised its rating on the company to
"outperform" from "neutral". 
    
(*) PRYSMIAN  PRY.MI 
    Goldman Sachs has raised its rating on the stock to "buy"
from "neutral" and cut its target price to 21 euros from 22
euros. urn:newsml:reuters.com:*:nFWN1Z80DY
    
    BRIOSCHI  BRUI.MI 
    Brioschi signed a Prelim. Agreement to sell properties and
activities in Shopping Mall in Latina.  urn:newsml:reuters.com:*:nFWN1Z719B
    
    ((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/