Italy - Factors to watch on Aug. 16

illimity Bank SpA

16/08/2023 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
    Prime Minister Giorgia Meloni on Monday took "full
responsibility" for last week's shock decision to impose a
one-off bank tax that has been blamed for causing lasting damage
to her government's credibility with financial markets.
    
    COMPANIES
    TENARIS  TNR.MI 
    The pipe maker said on Tuesday it had struck a deal to buy
from Canada's Mattr  MATR.TO  its Bredero Shaw International
unit, which holds Mattr's pipe coating business, for $166
million on a cash-free (but including working capital),
debt-free basis.
    
    BANKS
    In reiterating that the tax measure should be amended to
allow banks to deduct its cost from their overall tax burden,
Forza Italia leader Antonio Tajani said in comments to Tuesday's
Corriere della Sera that smaller banks should be exempted.
    
    NON-PERFORMING LOANS 
    Italy's parliament will discuss after the summer measures to
help troubled borrowers, la Repubblica and MF reported on
Tuesday, in a move that would affect the loan recovery industry.
Borrowers would be given the right to extinguish their debt -
provided the loan is worth up to 25 million euros and became
impaired between January 2015 and January 2021 - by paying the
price the bank received when it first sold it off plus a 20%
premium.
        
    JUVENTUS  JUVE.MI 
    Switzerland midfielder Denis Zakaria has signed a five-year
deal to join AS Monaco from Juventus, the two clubs said on
Monday, in a move that will yield a net 4.6 million euro benefit
for Juve's 2023/24 earnings.
    
    Milan Stock Exchange After Hours market closed.
    
    
    DIARY
    Bank of Italy releases June data on public finances, state
borrowing and debt.
    
    ((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/