Italy - Factors to watch on May 13

DiaSorin SpA

13/05/2024 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's government late on Friday presented to parliament an
amendment to spread out the impact of costly incentives for home
renovations, the so-called Superbonus, over 10 years. The
provision applies to work made since early January.
    U.N.-backed human rights experts called on Italy to combat
racial profiling in law enforcement on Friday after collecting
evidence of discrimination by officers.
    
    ECONOMY  
    OECD releases April composite leading indicator data (1000
GMT).
    
    COMPANIES
    BANKS
    Lenders which have purchased tax credits stemming from
Italy's Superbonus home renovation incentive scheme will have to
use them to cut their tax bills over six years from 2025
onwards, according to an amendment the government presented late
on Friday. The measure does not apply to banks that have
purchased credits at 75% of their face value or more. Based on
the amendment, starting from next January banks, insurances and
financial service companies will no longer be allowed to use tax
credits to offset payments of social security contributions.
    
    UNICREDIT  CRDI.MI 
    The bank is in a position to return to its shareholders more
than half of its current market capitalisation -- amounting to
almost 61 billion euros -- over the next three years, thanks to
excess capital and future profits, CEO Andrea Orcel told Milano
Finanza in an interview published on Saturday.
    
    DIASORIN  DIAS.MI  
    The Italian diagnostic company announced on Friday the
restarting of the buyback program already disclosed to the
market on May 8, 2023 and effective from today, in order to
fulfil the obligations deriving from the stock incentive
program. 
    CEO Carlo Rosa said in a post-results call on Friday the
company had a very good performance in China in the first
quarter of the year and it was back to regular business after
COVID.
    
    DIARY
    Economy Minister Giancarlo Giorgetti attends Eurogroup
meeting in Brussels.
    Rome, Industry Minister Adolfo Urso joins talks (via video
conference) at foreign ministry on impact of Red Sea tensions on
Italian economy (0900 GMT).
    Industry Minister Adolfo Urso meets local businesses in
Civitavecchia (1300 GMT) and Civita Castellana (1500 GMT).
    Rome, Think7 starts Italy summit "The G7 and the world:
rebuilding bridges" (1230 GMT); ends on May 14. On Monday
expected attendees include state-backed lender Cassa Depositi e
Prestiti (CDP) CEO Dario Scannapieco (1300 GMT).
    Rome, Cassa Depositi e Prestiti (CDP) holds annual general
meeting; second call scheduled on May 24.

    
    ((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/