Italy - Factors to watch on July 31
31/07/2023 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
Italy made an "improvised and atrocious" decision when it
joined China's Belt and Road Initiative (BRI) four years ago as
it did little to boost exports, Italian Defence Minister Guido
Crosetto said in an interview published on Sunday.
ECONOMY
Italy's GDP growth in the second quarter is estimated to
have been "very weak, almost flat" as a result of falling
activity in manufacturing and construction and modest growth in
services, business lobby Confindustria said on Saturday.
It added that Q3 expectations "are slightly more positive."
ISTAT releases Q2 GDP flash data (0800 GMT); CPI July flash
data (0900 GMT); June non-EU foreign trade data (1000 GMT).
BANKS
The European Banking Authority (EBA) said on Friday that
under a stress test adverse scenario in 2025, Italy's five
largest banks would have the following CET1 fully loaded ratios:
Intesa Sanpaolo ISP.MI 10.8%; UniCredit CRDI.MI 12.5%; Banco
BPM BAMI.MI 9%; BPER EMII.MI 7.9% and MPS BMPS.MI 10.1%.
COMPANIES
ENI ENI.MI
The Italian energy group Eni is nearing a deal to sell
around 10% of its low-carbon unit Plenitude to Switzerland's
Energy Infrastructure Partners (EIP), two sources with knowledge
of the matter said on Friday.
The transaction, details of which are still under
discussion, could value the entire unit at below 8 billion euros
($8.83 billion), including debt, the sources said.
INTESA SANPAOLO ISP.MI
Italy's biggest bank on Friday lifted its profit outlook for
the current year and beyond, saying higher rates would continue
to boost revenue after leading to record first-half earnings.
GENERALI GASI.MI , BANCA GENERALI BGN.MI
Banca Generali "is doing very well" and there are no plans
to sell it, Generali CEO Philippe Donnet said in an interview
with Il Sole 24 Ore published on Saturday.
Donnet also said, in response to a question about possible
new share buybacks, that Generali may have about 500 million
euros left for M&A deals, and if they are not used by 2024 they
will be given back to shareholders "as we have always said."
PIRELLI & C PIRC.MI
Ordinary shareholders' meeting to appoint new board of
directors (0830 GMT) in Milan.
LEONARDO LDOF.MI
Italy's state-controlled defence and aerospace group needs
to focus on cybersecurity and space, its new CEO said on Friday,
announcing a new industrial plan for early next year and
reporting rising orders and falling debt in H1 2023.
CNH Industrial CNHI.MI
The Italo-American farm and construction equipment maker
reported better-than-expected operating profit on Friday, though
shares fell as much as 6% as an unchanged revenue forecast cast
doubt on future growth potential.
JUVENTUS JUVE.MI
The Italian Serie A club will not play in Europe next season
after being banned over breaches of UEFA's Club Licensing and
Financial Fair Play rules, Europe's soccer governing body said
on Friday.
INDUSTRIE DE NORA DNR.MI
Board meeting on H1 results, followed by conference call
(1400 GMT); extraordinary shareholders' meeting (1200 GMT).
SARAS SRS.MI
Board meeting on H1 results, followed by conference call
(1430 GMT).
COMPAGNIE INDUSTRIALI RIUNITE (CIR) CIRI.MI
Board meeting on H1 results (0800 GMT).
NEXI NEXII.MI
Board meeting on H1 results.
RCS MEDIAGROUP RCSM.MI
Board meeting on H1 results.
SAES GETTERS SAEI.MI
Ends partial voluntary takeover offer on its own saving
shares.
DIARY
Rome, Antitrust deadline for the conclusion of proceedings
on the investigation into Google on alleged obstacles to data
portability.
Milan Stock Exchange After Hours market closed.
((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/