Italy - Factors to watch on Oct. 19

Iniziative Bresciane Inbre SpA

19/10/2020 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 .
    
    
    CORONAVIRUS
    Italy registered 11,705 new coronavirus cases on Sunday, the
health ministry said, up from the previous record of 10,925
posted the day before  urn:newsml:reuters.com:*:nL8N2H90HJ
    
    
    ECONOMY
    Italy has approved a new stimulus package in its 2021 budget
to foster an economic rebound from the recession caused by the
coronavirus crisis, a government statement said on Sunday after
a late-night cabinet meeting.
    Among measures to support the health and education system,
the government will set up a 4 billion euro ($4.7 billion) fund
to compensate companies worst hit by coronavirus lockdowns.
 urn:newsml:reuters.com:*:nL8N2H90J7
    
    
    COMPANIES
    ATLANTIA  ATL.MI     
    The infrastructure group holds a board meeting at 1600 GMT
the day after a deadline expired for exclusive talks with state
lender CDP over the sale of its Autostrade per l'Italia unit.
    CDP is expected to present an offer for 88% of Autostrade
together with investment funds Macquarie and Blackstone late on
Monday, two sources with knowledge of the matter said, adding
Atlantia could extend its board meeting to allow directors to
evaluate the offer. CDP could use the tool of equity syndication
to allow other institutional investors, including infrastructure
fund F2i, to take part in Autostrade's deal, one of the sources
said. F2i is advised by Intesa Sanpaolo on the deal.
    The state lender will likely create a vehicle with Macquarie
and Blackstone and possibly other Italian investors to submit a
bid for Atlantia's stake in Autostrade, which will be valued at
around 9 billion euros, Il Sole 24 Ore wrote on Saturday. 
    Several Italian newspapers reported that CDP may need more
time to present an offer.
    CDP's proposal values Atlantia's stake in Autostrade at 9
billion euros, La Repubblica said. The infrastructure group
would pocket 7 billion euros from the sale of its shareholding,
after a discount of 2 billion to take into account both legal
risks related to the Genoa bridge collapse and debts owed to the
state lender, La Repubblica said.
    On Saturday Atlantia agreed to sell a minority stake in
Telepass to transform the toll-road payment unit into a
pan-European multi-service platform for consumers and
businesses.  urn:newsml:reuters.com:*:nL8N2H80FA   
    
    ENEL  ENEI.MI 
    Europe's biggest utility may agree the sale of its 50% stake
in Italian broadband firm Open Fiber by the end of 2020, Il Sole
24 Ore reported on Saturday.
    Australian fund Macquarie, which offered 2.65 billion euros
for Enel's stake in the broadband network last month, may
increase its bid as it now values Open Fiber at 7.5 billion
euros including debt, the Italian daily reported.
    
    LEONARDO  LDOF.MI 
    Chief Executive Alessandro Profumo should not quit after he
was found guilty of false accounting in his previous role as
Chairman of Banca Monte dei Paschi di Siena, Italy's Economy
Junior Minister Antonio Misiani told news website Affaritaliani
on Friday. The ruling can be appealed. 
    
    BANCA MONTE DEI PASCHI DI SIENA  BMPS.MI 
    Italian Prime Minister Giuseppe Conte has given the green
light to measures needed for a bad loan clean-up at the Tuscan
bank and the eventual sale of the state-owned bank, a government
official said.  urn:newsml:reuters.com:*:nL8N2H75JC
    
    BANKS 
    Lando Sileoni, the head of Italy's biggest banking union
FABI, told Il Sole 24 Ore on Sunday the sector's unions and
Italy's ABI banking lobby stood ready to introduce new measures
and encourage remote-working to protect bank staff if the
healthcare situation worsened.
    State-owned lender Monte dei Paschi said on Saturday it had
adopted new measures to contain the spread of COVID-19 while
continuing to operated, making its branches accessible to
customers only by appointment as of Monday. 
    
    
    TENARIS  TENR.MI 
    Tenaris agreed to form a joint-venture with Inner Mongolia
Baotou  600010.SS  to build a steel pipe premium connection
threading plant in Baotou. Under the agreement, Tenaris will
hold 60% of the joint-venture.  urn:newsml:reuters.com:*:nFWN2H70LF
    
    ASTM  ATMI.MI 
    The tollroad operator said on Friday it had won two tenders
for concessions of motorway sections in Northern Italy.
 urn:newsml:reuters.com:*:nFWN2H70XX
        
    BANCA MEDIOLANUM  BMED.MI 
    Trades ex-dividend of 0.34 euro per share as final dividend
(interim dividend of 0.21 euro per share on Nov. 18, 2019).
    
    INIZIATIVE BRESCIANE  IB.MI 
    Starts capital increase; ends on Nov. 5.
    
    DIARY
    Enel  ENEI.MI  presents its new digital payment App "Enel X
Pay" and its strategy for mobile banking services (0930 GMT).
    Rome, Prime Minister Giuseppe Conte attends insurers'
association ANIA annual meeting (0900 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/