Italy - Factors to watch on Jan. 14
14/01/2019 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
Ratings agency DBRS confirmed on Friday its sovereign rating
on Italy at BBB(high), with a 'stable' outlook, despite concerns
of slowing economic growth and a fiscal outlook that will become
more challenging in 2020. urn:newsml:reuters.com:*:nL3N1ZB479
Treasury Minster Giovanni Tria has drawn up a decree in case
of a no Brexit deal vote next week by the UK parliament which
will guarantee operations by UK intermediaries and investment
banks as well as British traders working on the Italian stock
and bond markets to the end of 2020, Il Sole 24 Ore said on
Sunday.
ECONOMY
Italy's Treasury Minister said on Sunday he did not see a
recession on the horizon but acknowledged there could be a
period of economic stagnation. urn:newsml:reuters.com:*:nL8N1ZD0A1
OECD releases November composite leading indicator (1100
GMT)
COMPANIES
BANCA MONTE DEI PASCHI DI SIENA BMPS.MI
Monte dei Paschi di Siena BMPS.MI could start sounding out
investors to place a covered bond next week, a source close to
the matter said, after the European Central Bank warned the
Italian bank about the funding risks it faced. urn:newsml:reuters.com:*:nL8N1ZB55E
BANCA CARIGE CRGI.MI
Nationalising Italy's Banca Carige would not be possible
under European rules, a senior senator has said, countering
suggestions by other members of ruling coalition parties that
this would be an option for the troubled bank. urn:newsml:reuters.com:*:nL8N1ZC0BR
BANCO BPM BAMI.MI , UBI BANCA UBI.MI , MONTE DEI PASCHI
BMPS.MI , BANCA CARIGE CRGI.MI
Banco BPM rules out any tie-ups for the moment given
uncertain market conditions, CEO Giuseppe Castagna said on
Saturday when asked about the bank's interest in rivals Carige
UBI Banca or Monte dei Paschi. urn:newsml:reuters.com:*:nL8N1ZC0CP
ENEL ENEI.MI
Danish energy company Orsted ORSTED.CO , 50.1 percent owned
by the state, said on Sunday that the Finance Ministry had told
it there was no longer political support for continuing
divestment of its power distribution and residential customer
businesses. Sources said Enel was among bidders interested in
the unit. urn:newsml:reuters.com:*:nL8N1ZD0QO
ENI ENI.MI
Abu Dhabi National Oil Co. (ADNOC) said on Saturday it
awarded a consortium formed by Italian oil major Eni and
Thailand's PTTEP two offshore exploration blocks. urn:newsml:reuters.com:*:nL8N1ZC09D
Sharjah National Oil Corporation awarded Italy's Eni
concessions in three areas, Eni said in a statement on Sunday.
urn:newsml:reuters.com:*:nC6N1YW00P
Eni said on Sunday it had signed an exploration MoU in Block
1 offshore Bahrain. urn:newsml:reuters.com:*:nFWN1ZD03A
TELECOM ITALIA TLIT.MI
Telecom Italia's board will meet to vote on a request by top
investor Vivendi to call a shareholder meeting to replace five
board members and appoint new auditors. French media giant
Vivendi in December called for the replacement of five of
Telecom Italia's board members put forward by U.S. activist fund
Elliott, citing a "substantial lack of independence".
A Vivendi spokesman has lamented what he described as the
TIM board's "delaying tactics", asking for the shareholder
meeting to be called as soon as possible. While Vivendi would
like the TIM shareholder meeting to be held by Feb. 15, the
phone group's board is more in favour of calling it for March
28-29, several papers said on Saturday.
Chairman Fulvio Conti said on Friday there was no time limit
under Italian law for a company's board to call a shareholder
meeting at an investor's behest. urn:newsml:reuters.com:*:nS8N1YP091
Vivendi is considering asking investors at the shareholder
meeting to vote on a motion asking for management to be held
responsible legally for the way it has run the company, La
Stampa said on Sunday.
AUTOGRILL AGL.MI
France's Elior wants bids for its Areas business, which
focuses on railways and motorway catering, to be submitted by
the end of January, a source familiar with the situation told
Reuters. urn:newsml:reuters.com:*:nL8N1ZB4XK
ATLANTIA ATL.MI
Autostrade per l'Italia will stump up 439 million euros to
rebuild a collapsed Genoa bridge, two sources told Reuters on
Friday, after Transport Minister Danilo Toninelli said on
Twitter the Atlantia unit had agreed to fund the reconstruction.
urn:newsml:reuters.com:*:nS8N1YP08Y
Autostrade said on Friday its board would meet on Jan. 17 to
approve funding for the rebuilding of the collapsed Genoa
bridge, after the company replied to the bridge commissioner's
request of money funds, expressing reservations on the amount.
urn:newsml:reuters.com:*:nS8N1YP092
BPER BANCA EMII.MI
The Italian regional lender is planning to but the share it
does not yet own in Banco di Sardegna through an equity swap and
a subordinated loan with Fondazione Banco di Sardegna, daily Il
Sole 24 Ore said on Saturday. The banking foundation, a
shareholder of BPER Banca with a 3 percent stake, owns 49
percent of the Sardinia-based lender.
FINECOBANK FBK.MI
The company has finished 2018 with a double digit growth in
net profit, CEO Alessandro Foti told Class CNBC in an interview.
TELECOM ITALIA, WIND TRE, RATELIT and VUETEL
The four companies are said to have submitted an expression
of interest for BT Group's Italian assets, Il Sole 24 Ore said
on Saturday, while Vodafone and Irideos have decided against it.
D'AMICO INTERNATIONAL SHIPPING B7C.MI
The shipping group said on Friday it had paid 825,000 euros
to former CEO Marco Fiori as compensation.
ALITALIA CAITLA.UL
The EU Commission has given informal clearance to a 900
million euro state loan for Italian flagship carrier Alitalia,
Il Messaggero said on Sunday. The Commission has also give a
green light to the state converting some 400 million euros of
the loan into shares, the paper said.
COSTAMP GROUP MOLDC.MI
Ordinary shareholders' meeting (1000 GMT).
GO INTERNET GO.MI
Starts capital increase, ends on Jan 29.
DIARY
Prime Minister Giuseppe Conte (0800 GMT) and Deputy Prime
Minister and Interior Minister Matteo Salvini (0930 GMT) meet
European Migration Commissioner Dimitris Avramopoulos.
Milan, S&P Ratings holds "2019 Italy Annual Press
Conference" (0945 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/