Italy - Factors to watch on September 11
Italy - Factors to watch on September 11 The following factors could affect Italian markets on Friday.
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
ECONOMY
The Italian government said on Thursday it was extending until September 17 a reduction in excise duties on diesel. The reduction, worth 17 euro cents per litre at the pump, was due to expire at midnight on Thursday.
Italy adopted measures on Thursday aimed at boosting domestic oil and gas production, Prime Minister Giorgia Meloni said. The government will appoint commissioners to help local authorities cut red tape for business licences related to hydrocarbon extraction, Meloni said.
DEBT
Fitch reviews Italy's sovereign debt rating, currently at BBB+ with a stable outlook (from 20:00 GMT)
COMPANIES
(*) STELLANTIS STLAM.MI
CEO Antonio Filosa said at an analyst conference on Thursday that there is a clear split in the global automotive market today: the U.S., and everywhere else.
STELLANTIS, IVECO IVG.MI
The Franco-Italian carmaker said on Thursday it was appointing Michele Ziosi as Chief Public Affairs Officer For Global Coordination And Enlarged Europe. Ziosi will leave his role at truck maker Iveco on September 30.
PRYSMIAN PRY.MI
(*) The world's largest cablemaker said on Friday it had raised €850 million ($988 million) in a capital increase aimed at partially funding the group's planned acquisition of U.S.-based Atkore ATKR.N. Prysmian sold over 7 million shares, equal to about 2.4% of its share capital, through an accelerated bookbuilding to institutional investors at €121 per share, it added in a statement.
UNICREDIT CRDI.MI
The board of Italy's second-biggest bank unanimously approved a capital increase to support its voluntary public exchange offer for all Commerzbank shares it does not already own, the bank said on Thursday.
(*) Berlin will push for Commerzbank CBKG.DE to retain its German identity with a domestic stock market listing and to protect jobs, two people familiar with the matter said, as the bank prepares for a takeover by Italy's UniCredit.
(*) INTESA SANPAOLO ISP.MI
Italy's antitrust authority will soon begin reviewing Intesa Sanpaolo's proposed acquisition of MPS and will assess potential competition concerns, the head of the regulator told daily Il Sole 24 Ore in an interview published on Friday. The probe will assess whether the asset sales agreed with Unipol UNPI.MI will be sufficient or if more are needed and will also examine the potential effects of Intesa's acquisition of a minority stake in Generali GASI.MI.
(*) ENEL ENEI.MI
The energy group said on Thursday it closed the acquisition, from Excelsior Energy Capital, of a portfolio of solar plants based in the U.S. with an overall installed capacity of 810 MW and an expected average output of around 1.6 TWh per year for around $760 million.
SAIPEM SPMI.MI
The oilfield services company said on Thursday it had signed a letter of intent with the Jan De Nul energy group to work on the Rovuma LNG offshore project in Mozambique. The deal will have an initial value of €11 million.
POSTE ITALIANE PST.MI, TELECOM ITALIA (TIM) TLIT.MI
The postal service's offer for the former phone monopoly closes on Friday. It will re-open from Sept. 21-25.
AVIO AVI.MI
The rocket maker said on Thursday its first-half adjusted core earnings rose 7.3% from a year earlier, as it pursues its expansion in the United States and ramps up launcher production.
TREVI TFI.MI, ICOP ICOP.MI
The construction engineering company said on Thursday its board considered a takeover offer from rival I.CO.P (ICOP) was not advantageous for Trevi shareholders.
(*) IPO
Ahead of its listing on Milan's Euronext Growth Market, cosmetics manufacturer Nabla is in talks with a beauty sector company and a manager of the industry that could each become cornerstone shareholders ahead of the IPO which is to raise up to €7 million, daily MF reported on Friday.
DIARY
Turin auto show, with executives attending from Stellantis and other Italian and foreign groups (from 0730 GMT)
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
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/
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