Italy - Factors to watch on July 27

Centrale del Latte d'Italia SpA

27/07/2020 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 .
        
    POLITICS
    The governor of Lombardy, the Italian region hardest hit by
the coronavirus, denied wrongdoing on Saturday after he was
placed under investigation for suspected fraud over a supply of
medical equipment from a company owned by his brother-in-law.
 urn:newsml:reuters.com:*:nL5N2EW0EF
    The Italian government has decided to extend a state of
emergency due to the coronavirus crisis to Oct. 31, Italy's
Health Minister Roberto Speranza told La Stampa daily on
Saturday. He added that around 20 billion euros are urgently
needed in order to give the Italian health system a boost,
either through new budget deficit or tapping the European Union
bailout fund managed by the European Stability Mechanism (ESM). 
  
    Italy will use 40% of 209 billion euros in grants and loans
it will receive from the EU Recovery Fund to invest in the less
economically developed South of the country, Transport Minister
Paola De Micheli told in an interview with Il Messaggero daily
on Saturday.
    
        
    DEBT
    The Italian Treasury said on Friday it does not see any
critical issue for the country's budget as over 80 billion euros
are expected in the State coffers as of July 31, in line with
previous year's amount.
    Treasury announces sale of BTP and CCTeu bonds, with
relative amounts to be auctioned on July 30.
    
    COMPANIES
    MONTE DEI PASCHI  BMPS.MI  - The European Central Bank has
told troubled Italian lender to strengthen its capital base by
around 700 million euros ($814.45 million) to allow a planned
spin-off of its bad loans portfolio, two sources close to the
matter said on Friday.  urn:newsml:reuters.com:*:nL8N2E33T8
    
    INTESA SANPAOLO  ISP.MI , UBI BANCA  UBI.MI 
    Investors tendered UBI shares in Intesa Sanpaolo exchange
offer accounting for 32,662% of bid's target, Bourse data showed
on Friday.  urn:newsml:reuters.com:*:nFWN2EV0TN
    Intesa expects investor take-up to soar in the last few days
of its takeover bid for rival UBI, two sources close to the
matter said on Friday, adding that acceptance could top 80%.
 urn:newsml:reuters.com:*:nL5N2EV3F7
    
       
    MEDIASET  MS.MI 
    An Amsterdam court has reserved a decision on the planned
merger of Italy's top commercial broadcaster Mediaset and its
Spanish unit  TL5.MC  under a Dutch holding entity until Sept.
1, temporarily halting the operation, Mediaset said on Friday.
 urn:newsml:reuters.com:*:nL5N2EV57E
    
    ATLANTIA  ATL.MI 
    Italian state lender Cassa Depositi e Prestiti (CDP) could
buy a controlling stake in Atlantia's  ATL.MI  motorway unit
Autostrade in an initial public offering to allay investors
concerns over the price of the asset, a source close to the
matter said on Sunday. 
    Activist hedge fund TCI Fund Management said it has
complained to the European Commission over "illegitimate
expropriation" by the Italian government of Atlantia's motorways
unit Autostrade per l'Italia.  urn:newsml:reuters.com:*:nL5N2EV332
    In an interview with Il Messaggero daily on Sunday, TCI's
Chief Executive Cristopher Hohn said other investors could join
the fund's complaint to the European Commission.
    
    GENERALI  GASI.MI 
    Italy's top insurer is more resilient than rivals to
COVID-19 impact since it is less exposed to sectors like credit
insurance and events, general manager Frederic de Courtois said
on Saturday in an interview with Milano Finanza weekly magazine.
     
    CATTOLICA  CASS.MI , GENERALI  GASI.MI 
    Cattolica Assicurazioni's Managing director Carlo Ferraresi
said on Saturday that Cattolica will remain a company separated
from Generali after Italy's top insurer will become its major
shareholder with a 24.4% stake. 
    In an interview with with Milano Finanza weekly magazine,
Ferraresi said that Cattolica will maintain its current
workforce.
    After the cash call up to 500 million euros and other
capital management actions on liabilities, Cattolica's solvency
ratio will stand at around 200%.
    
    NEXI  NEXII.MI 
    Fitch Ratings has downgraded Nexi's long-term issuer default
rating (IDR) and senior unsecured notes to 'BB-' from 'BB', with
the outlook on the IDR 'Stable'.  urn:newsml:reuters.com:*:nFit82S6R0
    
    RETELIT  LIT.MI 
    An administrative court has ruled in favour of the Italian
fibre-optic network group, siding with its complaint against a
decision of the Italian government to exercise its special
vetting powers on the appointment of a new board in 2018,
Retelit said on Saturday.  
    
    BIM  BIM.MI 
    The Italian private bank may play a role in the sector
consolidation as an aggregator, Chief Executive Claudio Moro
said on Saturday in an interview with the Italian financial
weekly Milano Finanza. 
    
    MOLMED  MLMD.MI  
    The biotechnology group said on Friday that investors has
tendered Molmed shares in the takeover bid launched by Japan's
AGC  5201.T  accounting for 93,2% of the company's capital at
the bid's end, exceeding the threshold of 66.67% for the offer
to be accepted.  urn:newsml:reuters.com:*:nBIA2JkH17
    
    NEWLAT  NWLF.MI , CENTRALE DEL LATTE D'ITALIA  CLII.MI 
    The Parma-based owner of the Delverde pasta brand said it
would hold 67.59% of Centrale del Latte d'Italia at the end of
the acceptance period of the mandatory public purchase and
exchange offer ended on Friday.  urn:newsml:reuters.com:*:nBIA1m9619    
    
    RAI WAY  RWAY.MI 
    Trades ex-dividend of 0.2329 euro per share.
    
    ITALGAS  IG.MI 
    Board meeting on H1 results, followed by conference call
(1500 GMT).
    
    MONCLER  MONC.MI 
    Board meeting on H1 results, followed by conference call
(1715 GMT).
    
    PIAGGIO  PIA.MI 
    Board meeting on H1 results, followed by conference call.
    
    DIARY
    Assogestioni releases June fund flows data.
    Health Minister Roberto Speranza attends digital dialogue on
"Pandemia and forms of the politician" (1600 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/