Italy - Factors to watch on Feb 7

Hera SpA

07/02/2024 05:00

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 .
    
    POLITICS
    Italy's government cleared on Tuesday the major
parliamentary hurdle in its plans to overhaul the country's
capital markets, despite warnings from the financial industry
that the proposed legislation could backfire and discourage
foreign investments.
    
    ECONOMY
    ISTAT releases December retail sales data (0900 GMT).
    Bank of Italy releases January data on Target 2 liabilities
and European Central Bank funding to Italian banks.
    
    DEBT
    Italy's Treasury said on Tuesday it would sell 9 billion
euros in 12-month BOT bills at an auction on Feb 9.
    
    COMPANIES
    INTESA SANPAOLO  ISP.MI 
    The lender plans share buybacks in 2024 and expects a higher
profit this year and next, after rising interest rates drove a
76% net income rise at Italy's biggest bank.
    But in comments to reporters, CEO Carlo Messina criticised
the excessive use of buybacks to reward investors, and ruled out
a change of chairman next year. 
    
    STELLANTIS  STLAM.MI 
    Stellantis Chairman John Elkann held talks with Italy's
president and economy minister in Rome on Tuesday, a
spokesperson for the automaker said, amid tensions between the
company and the government. 
        
  
    BANCA POPOLARE DI SONDRIO  BPSI.MI 
    The lender doubled its dividend per share after posting
record-breaking profits in 2023.
    
    BANCA MONTE DEI PASCHI DI SIENA  BMPS.MI 
    Releases FY results (0630 GMT), followed by conference call
(0800 GMT).
    
    BPER BANCA  EMII.MI 
    Board meeting on preliminary FY results, followed by
conference call (1700 GMT).
    
    FINECOBANK  FBK.MI 
    The Italian online bank and brokerage on Tuesday reported a
slip in fourth quarter net interest income (NII) as it sought to
attract customers to asset management products versus government
bonds.
    The bank will decide depending on market conditions whether
to repay an 'Additional Tier 1' (AT1) perpetual bond with a
first call option coming due in the fourth quarter, its chief
executive said.
    
    TELECOM ITALIA (TIM)  TLIT.MI 
    Board meeting on board composition list and to examine offer
on Sparkle unit.
    Telecom Italia directors are expected to seek to improve an
offer of up to 750 million euros from the Italian Treasury for
the telecom's firm submarine cable unit Sparkle, which is deemed
as too low, a source close to the matter told Reuters.
    
    UTILITIES 
    Enel  ENEI.MI  and its smaller rival Hera  HRA.MI  have won
around half of the nearly 5 million customers who will exit
Italy's regulated price regime for electricity at end-June
without picking a free-market supplier, sources said.
    
    TERNA  TRN.MI  
    Blackrock Inc  BLK.N  held 4.9% voting rights in the Italian
grid operator as of Jan 29, according to filing on Tuesday from
market watchdog Consob.    
    
    DIARY
        Rome, Industry Minister Adolfo Urso delivers opening
address at conference "Circular economies ad basis to build
sustainable leadership" (0900 GMT).
  
        Rome, Industry Minister Adolfo Urso attends conference
on "Small- and medium-sized companies and the Made in Italy
challenge: opportunities, tools and actions" (1030 GMT).
  
        Rome, Industry Minister Adolfo Urso attends new postal
stamp ceremony in memory of Pinuccio Tatarella (1600 GMT).
  
    Rome, European Affairs and national recovery and resilience
plan Minister Raffaele Fitto attends a book presentation (1700
GMT).
    Rome, state-backed lender Cassa Depositi e Prestiti (CDP)
unit Simest Chairman Pasquale Salzano speaks before
Parliamentary Committee for the Security of the Republic
(COPASIR) (1300 GMT).
    Milan, Bocconi and Assicurazioni Generali  GASI.MI  hold
inauguration ceremony of new academic position "Generali endowed
chair in European policies - Shaping leadership in Europe" (1715
GMT); Generali CEO Philippe Donnet delivers opening address.
    Milan, UniCredit  CRDI.MI  holds news conference "UniCredit
for Italy for small- and medium-sized companies" in presence and
online with CEO Andrea Orcel, Italian Deputy Head Remo Taricani
(1300 GMT).
    L'Aquila, Prime Minister Giorgia Meloni attends signing of
an agreement for development and cohesion between the government
and Abruzzo region (1400 GMT).
    Montesilvano, Prime Minister Giorgia Meloni at "World Skate
Games" (1630 GMT).
        
  
    
    ((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/