Italy - Factors to watch on March 21
21/03/2022 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 .
ECONOMY
Italian gross domestic product is set to grow at a rate of
only 2.3% this year, down from 3.6% forecast in February, think
tank Prometeia said on Friday, citing the impact of Russia's
invasion of Ukraine. urn:newsml:reuters.com:*:nS8N2UK0AD
COMPANIES
ENERGY COMPANIES
Italy on Friday announced a 4.4-billion euro package to curb
energy costs whose funding mostly weighs on producers and
sellers of electricity, natural gas and petrol products, a draft
decree seen by Reuters showed. The levy takes the form of a 10%
one-shot contribution on profit margins if they rose by more
than 5 million euros between October 2021 and March 2022 from
the same period a year earlier. The levy is not applicable if
profit margins rose less than 10%. urn:newsml:reuters.com:*:nL2N2VL1Z0
ENI ENI.MI
Eni and Algerian state-energy company Sonatrach said on
Sunday they had made an important oil and gas discovery in
Algeria's eastern Berkine basin. urn:newsml:reuters.com:*:nL2N2VN09M
The Italian energy group said on Friday it could provide
extra gas to Europe to help reduce reliance on Russian supplies
after Moscow's invasion of Ukraine. Eni made the pledge as it
set out its strategy to 2025, promising investors better returns
and vowing to pick up the pace on its climate ambition to be
carbon neutral by 2050. urn:newsml:reuters.com:*:nL5N2VL3I0
Eni also said on Friday it was not using oil of Russian
origin in operations related to its 20% share in the Bayernoil
refinery in the Germany state of Bavaria. urn:newsml:reuters.com:*:nL2N2VL1TB
Eni said it had lifted a force majeure on exports of
Nigerian Brass River crude oil after it finished repairing a
pipeline that had been damaged by a blast. urn:newsml:reuters.com:*:nL2N2VM086
SAIPEM SPMI.MI
The capital increase in a gross 7.3 billion euro package to
rescue Saipem will be 2 billion euros, Il Messaggero said on
Sunday. Cornerstone shareholders Eni and state lender CDP will
underwrite their stakes in the cash call but will also guarantee
650 million euro more, it said. For their part, banks will
extend a 1 billion euro revolving credit facility, refinance 2
billion euros of bonds and fund a 500 million euro bridge to
bond for an April maturity, the paper said.
FERRARI RACE.MI
Charles Leclerc embarked on Formula One’s new era in
triumphant style, leading team mate Carlos Sainz in a one-two
for a resurgent Ferrari in Sunday’s season-opening Bahrain Grand
Prix. urn:newsml:reuters.com:*:nL6N2VN00O
TELECOM ITALIA (TIM) TLIT.MI
Fitch Ratings downgraded the Italian phone group on Friday
to 'BB' from 'BB+' with a negative outlook, saying that TIM's
proposed spin-off of its network infrastructure created
short-term uncertainty for the rating. urn:newsml:reuters.com:*:nFWN2VL18R urn:newsml:reuters.com:*:nL3N2VL3JX
STELLANTIS STLA.MI
Credit rating agency S&P Global said on Friday it had
upgraded the carmaker' rating to 'BBB' from 'BBB-', citing
stronger-than-expected 2021 performance in terms of EBITDA
margins and free cash flow generation. urn:newsml:reuters.com:*:nS8N2UK0AE
MEDIAFOREUROPE MFEA.MI MFEB.MI
The Italian broadcaster controlled by the Berlusconi family
is set to meet next week with rival Prosiebensat PSMGn.DE , in
which it has become the main investor, as part of a shareholder
roadshow the German group is conducting ahead of its AGM, people
familiar with the matter said.
TELECOM ITALIA TLIT.MI
KKR's KKR.N investment committee is divided on how to
proceed in relation to its non-binding bid for the Italian phone
group with some members wary due to the Ukraine conflict and
others keen to take advantage of the share price drop, Il
Messaggero reported on Saturday citing banking sources who spoke
after a virtual meeting KKR held with TIM's advisers on Friday.
RENEWABLES
Italy has readied measures to promote renewable energy
sources that make use of cutting-edge or very expensive
technologies, such as offshore floating wind farms, Il Sole 24
Ore reported on Saturday
BANCA POPOLARE DI SONDRIO BPSI.MI
Board meeting on FY results (preliminary results released on
Feb.8).
RCS MEDIAGROUP RCSM.MI
Board meeting on FY results.
SECO IOT.MI
Board meeting on FY results.
STMICROELECTRONICS STM.MI
Trades ex-dividend of 0.06 U.S. dollars per ordinary share
as quarterly dividend.
SITI B&T SITI.MI
De-listed as of Monday.
DIARY
...
((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/