Italy - Factors to watch on October 2

Brunello Cucinelli SpA

02/10/2025 05:00

The following factors could affect Italian markets on Thursday.

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

Italy's parliament voted on Wednesday to restore a national holiday on October 4 in honour of St. Francis of Assisi, one of the country's patron saints, almost half a century after it was abolished.

(*) Italian unions called a general strike for Friday in solidarity with the international aid flotilla for Gaza, while protests sprang up in a number of cities late on Wednesday after reports that some of the ships had been intercepted by military personnel.

ECONOMY

ISTAT releases August unemployment rate data (0800 GMT).

COMPANIES

STELLANTIS STLAM.MI

Sales of new cars in Italy in September rose by more than 4% year-on-year, as market leader Stellantis outperformed with sales up 15.3%, according to transport ministry data and Reuters calculations.

(*) BANCO BPM BAMI.MI, ANIMA ANIM.MI

The potential acquisition of a majority stake in Credit Agricole Italia by the Italian bank could be financed both in cash, partly through its own shares, and assets, but without involving Anima, which falls within the scope of the government's special powers — known as "golden power" — over strategic assets, Il Messaggero and Mf both reported on Thursday.

MONTE DEI PASCHI DI SIENA (MPS) BMPS.MI, MEDIOBANCA MDBI.MI

Moody's on Wednesday upgraded the Tuscan bank's senior unsecured debt rating to 'Baa3' from 'Ba1', while downgrading Mediobanca's long-term issuer and senior unsecured debt ratings to 'Baa3' from 'Baa1' following the takeover.

(*) MPS is expected to hold a board meeting late on Thursday to formally put forward JPMorgan banker Vittorio Grilli and Anima CEO Alessandro Melzi d’Eril as Mediobanca's new chairman and chief executive respectively.

GENERALI GASI.MI

The Italian insurer's Generali Investments unit completed the acquisition of a 77% stake in U.S. private direct lending investment firm MGG and its affiliates, Generali said in a statement on Wednesday. The estimated impact on Generali's Solvency II Ratio is approximately -2 percentage points, it added.

ENERGY, UTILITIES

Italy is taking aim at gas transport costs as it seeks to narrow the spread between wholesale gas prices in Amsterdam and Italy as a way of reducing domestic energy bills, Energy Minister Gilberto Pichetto Fratin said on Wednesday.

ENEL ENEI.MI, ENI ENI.MI, TERNA TRN.MI

Italy awarded all 10 gigawatt hours of the capacity it tendered in its first battery storage auction, recording an average price well below the cap set by the regulator, the CEO of grid operator Terna said on Wednesday.

ENEL

Chilean Energy Minister Diego Pardow said his government was still evaluating whether to end a concession for an Enel unit in the capital, with no date yet for a decision. The government accused Enel of being slow to restore power to thousands of customers in Santiago after a storm in 2024.

(*) Enel's subsidiary Enel Green Power North America (EGPNA) said on Wednesday it had closed a swap transaction with Gulf Pacific Power, increasing its net installed consolidated capacity in the U.S. by 285 MW, for a net consideration of about $50 million in cash paid by EGPNA.

The deal, it added, is expected to generate an annual positive net effect of around $50 million on Enel's EBITDA.

(*) Enel said on Thursday its unit Enel Green Power Espana (EGPE), controlled via Endesa, has completed the sale of a 49.99% stake in EGPE Solar 2 to UAE's Masdar for 184 million euros. The deal recognises an enterprise values of EGPE Solar 2 of 368 million euros.

IVECO IVG.MI

The truck maker and the DLL finance company said on Wednesday they have received regulatory approval for their GATE joint venture which will provide rental services for low- to zero-emission vehicles.

BRUNELLO CUCINELLI BCU.MI

The Italian luxury company reaffirmed on Wednesday that it operated in Russia in full compliance with EU regulations, as it posted a 12% increase in revenues in the third quarter, to 336 million euros.

Shares in the cashmere group have been under pressure after a short-seller last week accused the company of misleading investors about its Russian business, an allegation it has denied.

(*) FERRARI RACE.MI

HSBC raised its rating to 'buy' from 'hold' and the target price to 470 euros from 413 euros.

(*) JUVENTUS JUVE.MI

     Villarreal snatched a dramatic 2-2 draw against Juventus in the Champions League on Wednesday, with Renato Veiga's last-minute header denying the Italian side their first win.

(*) PHARMANUTRA  PHNU.MI

Berenberg initiated the coverage on the food supplement and medical devices group with a 'buy' rating and a 85 euro target price.

DIARY

Rome, Cabinet meeting on new budget plan (1700 GMT).

Prime Minister Giorgia Meloni attends '7th European Political Community Summit' in Copenhagen.

Rome, Foreign Minister Antonio Tajani addresses Chamber of Deputies (0730 GMT) and Senate (afternoon) on recent developments in Gaza.

Rome, Economy Minister Giancarlo Giorgetti attends 20th anniversary of tax police 'Guardia di Finanza' Air and Naval Command (0730 GMT).

Rome, business lobby Confindustria presents 'Autumn 2025 Forecast Report' "Investments to Move Italy" (0800 GMT); expected attendees include Economy Undersecretary Federico Freni, industry Minister Adolfo Urso, EU Commission Vice President Raffaele Fitto; Confindustria President Emanuele Orsini delivers closing address.

Rome, Study of Credit Problems Association (ANSPC) holds 57th Credit Day "Banks, Insurance Companies and Other Financial Intermediaries for the Country"s Growth" (0800 GMT); expected attendees include Deputy Finance Minister Maurizio Leo, Bank of Italy Vice Governor and insurance supervisor IVASS President Luigi Federico Signorini, insurers association ANIA President Giovanni Liverani, banking association ABI President Antonio Patuelli.

Milan, "Italian Energy Summit 2025" ends (0730 GMT); on Thursday expected attendees include Energy EU Commissioner Dan Joergensen, Trans Adriatic Pipeline (TAP) Managing Director and Italy Country Manager Luca Schieppati, Utilitalia Director General Anna Maria Barrile.

Milan, A2A A2.MI presents "Life Ventures" with Chairman Roberto Tasca, CEO Renato Mazzoncini (0830 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/