Italy - Factors to watch on Dec. 9
09/12/2024 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
Syrian rebels entered the residence of the Italian
ambassador in Damascus on Sunday, but did not harm him or his
security staff, Italian Foreign Minister Antonio Tajani said,
calling for a peaceful transfer of power in the country.
The European Union and South America's Mercosur bloc have
finalised a free trade agreement, the European Commission said
on Friday but it faces a tortuous battle for approval in Europe
given French and Italian opposition.
DEBT
Treasury details sale of BTP bonds to be auctioned on Dec.
12.
COMPANIES
UNICREDIT CRDI.MI , BANCO BPM BAMI.MI
France's Credit Agricole upped the stakes in a banking
battle over Banco BPM on Friday, by using derivatives to raise
its holding in the Milanese lender that has become a takeover
target for UniCredit.
Credit Agricole had informal backing from the Italian
government before making that move, two sources close to the
matter told Reuters on Saturday.
UniCredit is ready to sit down with Credit Agricole, a
spokesperson for the Italian bank said in a LinkedIn post on
Saturday.
UniCredit may have already signed derivative contracts with
an investment bank in order to enter into Banco BPM with a
significant initial stake at the right moment, daily Il Sole 24
Ore reported on Saturday.
Banco BPM is preparing to give Citigroup C.N and Lazard a
mandate to advise over the unsolicited takeover bid by
UniCredit, two people close to the matter said on Friday. Banco
BPM, Citi and Lazard all declined to comment.
Banco BPM is considering asking market regulator Consob for
an exemption from the so-called passivity rule, which stops
takeover targets from taking actions against buyout bids without
the approval of shareholders, Il Sole 24 Ore reported on Sunday.
Banco BPM's CEO Giuseppe Castagna told reporters on Saturday
that he was "very pleased" about Credit Agricole's raising of
its stake. He said the move "confirmed their support" for Banco
BPM.
UNICREDIT
The bank said on Friday a German probe over alleged tax
evasion concerned a single former client, after its Munich
offices were raided in an investigation into a possible 200
million euro ($212 million) fraud.
GENERALI GASI.MI
The insurer aims to clinch a preliminary agreement with
Natixis SA within its investor day on January 30 to combine
their asset management operations, potentially adding to a wave
of deals across the industry, Bloomberg News reported on Friday.
STELLANTIS STLAM.MI
Stellantis said on Friday it planned to rejoin European auto
lobby ACEA, which it had left at the beginning of 2023, in a
move that might flag a more cautious stance for the automaker on
its electrification plans.
A U.S. automotive start up is in advanced talks to take over
Stellantis' closed-down factory in Grugliasco, Italy, daily La
Repubblica said on Sunday, adding that a deal could be sealed by
March.
UNIEURO UNIR.MI
Fnac Dary and Holdco said on Friday they reached 95.45% of
the Italian electronics distributor group share capital.
JUVENTUS JUVE.MI
The Turin giants salvaged a 2-2 draw at Bologna on Saturday,
neutralising a two-goal lead by the hosts, but manager Thiago
Motta said he was not satisfied by the performance.
LAZIO LAZI.MI
Lazio denied Napoli the chance to return to the top of the
Serie A standings with a 1-0 away win on Sunday, their second
victory this week over Napoli, following their midweek Coppa
Italia success.
ASKOLL EVA EVAS.MI
Starts capital increase; ends on Dec. 23.
G RENT GSRE.MI
Starts capital increase; ends on Dec. 23.
LANDI RENZO LR.MI
Ends capital increase.
MONRIF EDII.MI
Monti Riffeser Srl reopens full voluntary takeover bid on
Monrif shares; ends on Dec. 13.
VISIBILIA EDITORE VE.MI
Ends capital increase.
DIARY
Economy Minister Giancarlo Giorgetti attends Eurogroup
meeting in Brussels.
Rome, Cabinet meeting chaired by Prime Minister Giorgia
Meloni (1600 GMT).
Rome, Fincantieri FCT.MI presents Fincantieri Foundation
and its new mission with Fincantieri Chairman Biagio Mazzotta,
Fincantieri CEO Pierroberto Folgiero, Fincantieri Foundation
Presidente Fausto Recchia (1030 GMT).
Milan, former ECB president and Italian premier Mario Draghi
receives think tank ISPI's annual award (1730 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/