Italy - Factors to watch on Aug. 3
03/08/2016 07:52
The following factors could affect Italian markets on Wednesday.
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 .
WEDNESDAY AUGUST 3
ECONOMY
Markit releases July service Pmi data (0745 GMT).
Rome, Economy Minister Pier Carlo Padoan speaks on Italian
banking system before Chamber of Deputies (1415 GMT).
Italian state lender Cassa Depositi e Prestiti holds board
meeting on H1 results.
COMPANIES
Bourse After Hours market closed.
(*)ITALIAN BANKS
Italy's prime minister Matteo Renzi scored a political win
last Friday by engineering a private sector rescue of Monte dei
Paschi di Siena BMPS.MI , but the country' banking problems
could continue to dog his government for weeks if not months,
says the Financial Times.
Italian pension fund association ADEPP will not contribute
to the Atlante 2 fund to invest in bad bank loans, il Sole 24Ore
reported.
(*)MONTE DEI PASCHI DI SIENA BMPS.MI
On top of the 8 banks already in the consortium underwriting
the lender's planned 5 billion euro cash call, six more are set
to join as joint bookrunners, including HSBC and Societe
Generale, il Sole 24 Ore wrote.
FT says up to 7 bookrunners should be revealed soon,
including BBVA, Commerzbank, ING and Barclays. It notes
technically JPMorgan could walk away from its pre-underwriting
agreement if no investors want to take up their rights in the
cash call.
La Repubblica says the envisaged rescue plan for the Tuscan
bank is well-constructed but difficult and won't necessarily
succeed, quoting two unnamed European Commission officials. The
plan may not be sufficient, it says citing some officials of the
Italian government.
UNICREDIT CRDI.MI
Board meeting on H1 results, followed by conference call
(1230 GMT).
Bank Pekao SA PEO.WA , Poland's No.2 lender, posted a 12
percent rise in second-quarter net profit on Wednesday, beating
analysts' expectations. urn:newsml:reuters.com:*:nFWN1AJ125
The bank's foundation shareholders have started to look at
the question of recapitalisation but talks will only begin in
earnest in september, MF said.
INTESA SANPAOLO ISP.MI
Intesa's CEO Carlo Messina said he did not expect to have to
match Monte dei Paschi's bad loan coverage levels. He said it
did not make sense to compare the two banks'
situation. urn:newsml:reuters.com:*:nL8N1AJ4S1
POSTE ITALIANE PST.MI
Poste Italiane's operating profit rose 32 percent in the
first half and beat analyst expectations as premium growth at
its insurance division and the disposal of its stake in Visa
Europe boosted results. urn:newsml:reuters.com:*:nI6N1AD01C
A second campaign to raise money for Italian bank rescue
fund Atlante will close on Aug. 8, the chief executive of Poste
Italiane said on Tuesday, adding the group will decide in the
next few days about the amount of its new
contribution. urn:newsml:reuters.com:*:nL8N1AJ5MM
The CEO added the new contribution will likely be smaller
than what it paid into the first campaign.
He added the group was happy with its Poste Mobile unit,
adding there were no news on a potential disposal of the
division. urn:newsml:reuters.com:*:nL8N1AJ5DV
FIAT CHRYSLER AUTOMOBILES FCHA.MI
The parents of the late "Star Trek" movie actor Anton
Yelchin sued Fiat Chrysler Automobiles for negligence and
product liability on Tuesday over the rollaway crash of a Jeep
Grand Cherokee that killed their son. urn:newsml:reuters.com:*:nL1N1AJ1HJ
Chief Executive Sergio Marchionne said the confirmed
full-year forecasts were "the minimum points" expected and
predicted a "phenomenal 2016".
July U.S. auto sales remained strong as consumers continued
to spend on pickup trucks and SUVs but the two biggest
manufacturers in the market failed to hit analysts'
expectations. FCA said its U.S. sales rose 0.3 percent
year-on-year in July. urn:newsml:reuters.com:*:nL1N1AJ0JF
FERRARI RACE.MI RACE.N
The Italian luxury carmaker posted better-than-expected
quarterly earnings on Tuesday, helped by strong demand for its
supercars from Europe and China and margins strengthened by
special edition and personalised models. urn:newsml:reuters.com:*:nL8N1AJ4I5
SALVATORE FERRAGAMO SFER.MI
The luxury goods maker said on Tuesday revenues fell 2
percent in the first six months, weighed down by sales in its
two core markets of Europe and Asia. urn:newsml:reuters.com:*:nI6N1AD018
Outgoing CEO Michele Norsa said full-year revenue and EBITDA
consensus estimates were achievable. urn:newsml:reuters.com:*:nI6N17B009
The CFO added that a gross profit margin of 67 percent
posted in H1 remained a target for rest of year.
(*) MEDIASET MS.MI
After a change of heart by France's Vivendi VIV.PA over a
signed deal for the Italian broadcaster's pay-TV unit, the two
companies have not had any contact, reported la Stampa. The two
groups however might want to verify if there are margins for
dialogue over a new deal, with the French making some first
steps in the next days, the daily addded.
ENAV ENAV.MI
The Treasury said it had raised around 834 million euros
from placing 46.6 percent of Enav's capital, including the
greenshoe option which was fully exercised. urn:newsml:reuters.com:*:nI6N1AD01E
TERNA TRN.MI
Workers at Greece's main utility Public Power Corp. have
appealed to a top Greek court to halt the sale of a stake in
PPC's grid network. Terna is among the companies who have
submitted an expression of interest. urn:newsml:reuters.com:*:nL8N1AJ4NA
RYANAIR RYA.I
Ryanair top management and representatives of local
authorities due to meet Infrastructure and Transport Minister
Graziano Delrio on smaller airports in Rome.
(*)RCS MEDIAGROUP RCSM.MI
Current CEO Laura Cioli is expected to resign after Cairo
Communication CAI.MI has gained control of the publisher, with
a 60 percent stake, wrote il Giornale. The board has still not
decided whether to give in to Cairo's request to voluntarily
resign or to postpone any decision to a September board, the
report adds.
Board meeting on H1 results.
CAIRO COMMUNICATION CAI.MI
Board meeting on H1 results.
PININFARINA PNNI.MI
Ordinary shareholders' meeting (1000 GMT).
ASCOPIAVE ASCI.MI
Board meeting on H1 results.
ASTALDI AST.MI
Board meeting on H1 results.
BANCA FINNAT BFE.MI
Board meeting on H1 results.
BANCO DI SARDEGNA SARIn.MI
Board meeting on H1 results.
BUZZI UNICEM BZU.MI
Board meeting on H1 results, followed by conference call
(1430 GMT).
CAIRO COMMUNICATION CAI.MI
Board meeting on H1 results.
RCS MEDIAGROUP RCSM.MI
Board meeting on H1 results.
SAFILO SFLG.MI
Board meeting on H1 results.
TENARIS TENR.MI
Board meeting on H1 results.
((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/
Keywords: ITALY FACTORS/AUG. 3