Italy - Factors to watch on Sept. 10

Iniziative Bresciane Inbre SpA

10/09/2018 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
    Italy's yield spread will fall as government actions come
into force, while more radical economic policies will only be
introduced gradually, says Economy Minister Tria.  urn:newsml:reuters.com:*:nL5N1VV0EP
    Italy has never considered leaving the European Union or the
single currency, Prime Minister Giuseppe Conte said on Saturday.
 urn:newsml:reuters.com:*:nL5N1VU0MK
    Italy understands it must tighten its public finances, its
finance minister said on Friday after talks with EU authorities,
signalling that ambitious spending plans set out by Rome would
not conflict with Brussels' fiscal rules.  urn:newsml:reuters.com:*:nL5N1VT3A1
    The government will introduce a ban on Sunday shopping in
large commercial centres before the end of the year, Deputy
Prime Minister Luigi Di Maio said on Sunday.  urn:newsml:reuters.com:*:nL5N1VV0HD
        
    DEBT
    Italy's Treasury said on Friday it would offer 6 billion
euros in one-year bills at auction on Wednesday.  urn:newsml:reuters.com:*:nI6N1UT02I
    Treasury announces sale of BTP bonds, with relative amounts
to be auctioned on Sept. 13.
        
    COMPANIES
    TELECOM ITALIA (TIM)  TLIT.MI 
    Expected to hold board meeting on 5G tender.
    Italian Industry Minister Luigi Di Maio told Il Sole 24 Ore
newspaper on Saturday that he would not allow the sale of
Telecom's Sparkle unit. Telecom Chairman Fulvio Conti declined
to comment. Di Maio also said he had no plans at present to meet
Telecom's French shareholders. 
    The CEO of Vivendi  VIV.PA , Arnaud de Puyfontaine, met
Italy's Prime Minister Conte in Bisceglie, Puglia, on Sunday. De
Puyfontaine told Conte he did not agree with selling Sparkle, Il
Corriere reported on Sunday.
    
    ENI  ENI.MI 
    Eni said on Saturday its Zohr field off Egypt was now
producing 2 bcfd, equivalent to approximately 365,000 boed -- a
year ahead of schedule. It says production will plateau in 2019.
    
    LEONARDO  LDOF.MI , FINCANTIERI  FCT.MI 
    Italian defence group Leonardo said on Friday it was
exercising a right of first refusal over Vitrociset so as to buy
the 98.5 percent of the defence and security services firm it
didn't already own.  urn:newsml:reuters.com:*:nFWN1VT0RJ
    Fincantieri said that Leonardo's decision rendered void an
accord it struck in August to buy jointly with Mer Mec a 98.5
percent stake in Vitrociset. 
    Defence group Leonardo sees positively a tie-up between
Italy's Fincantieri and France's Naval Group as it could create
more opportunities for its business, Leonardo's CEO Alessandro
Profumo said on Sunday.
    
    FINCANTIERI  FCT.MI  ATLANTIA  ATL.MI 
    Rebuilding Genoa's collapsed motorway bridge will cost 150
to 200 million euros, a local authority official said on Sunday.
Fincantieri will lead the work, in cooperation with Atlantia
unit Autostrade per l'Italia  urn:newsml:reuters.com:*:nL5N1VV09U
    Marco Patuano, the CEO of Edizione, Atlantia's main
shareholder, told il Sole 24 Ore on Saturday Atlantia should
continue to operate in Italy, wants tie-up with Spanish
road-toll company Abertis to continue.
    After starting the procedure for revoking the motorway
concession to Autostrade, the government intends to conduct the
process with firmness and serenity and then decide whether there
are enough reasons to strip the company of the concession,
Italy's Prime Minister Giuseppe Conte said on Saturday. 
    
    UNICREDIT  CRDI.MI , SOCIETE GENERALE  SOGN.PA 
    Italy's top bank UniCredit will assess strategic options
when drawing up a new business plan next year, its chairman
said, when asked about a possible merger with France's Societe
Generale.  urn:newsml:reuters.com:*:nL5N1VU0JO
    
    ASSICURAZIONI GENERALI  GASI.MI 
    Generali could buy more boutique asset managers after
entering exclusive talks to take on the majority of France's
Sycomore, the chief executive of Italy's biggest insurer said on
Friday.  urn:newsml:reuters.com:*:nI6N1UT02G
    
    BANCO BPM  BAMI.MI 
    Corrado Passera said on Friday binding bids for up to nearly
10 billion euros in bad loans put on the block by Banco BPM were
due by early November but the sale, which also involves the
bank's debt collection business, was unlikely to close this
year. Passera's Illimity bank is part of a consortium comprising
also Fortress and doBank  DOB.MI  which has been shortlisted by
Banco BPM in the bidding process.
    
    ACSM AGAM  ACAG.MI 
    Investors have tendered shares equivalent to 54 percent of
the regional utility's capital targeted by a public tender offer
which ended on Friday.  urn:newsml:reuters.com:*:nFWN1VT0RK
        
    ASTALDI  AST.MI 
    Fitch has cut the Italian builder's rating to 'CCC-' from
'B' and placed it under 'rating watch evolving' due to delays in
the sale of a bridge in Turkey, which the agency said raised
questions about the timing of a planned equity increase.  urn:newsml:reuters.com:*:nFit7d4Psh
    
    ALITALIA  CAITLA.UL 
    La Repubblica newspaper reports that the government plans to
renationalise Alitalia with a 51-percent stake in the company.
It wants the state railways and a handful of other state
companies to help with the financing of the operation, with at
least 2 billion euros needed. The most likely foreign partners
are U.S. group Delta and EasyJet. 
    
    CAD IT  CAD.MI 
    Extraordinary shareholders' meeting (0730 GMT).
    
    FULLSIX  FUL.MI 
    Orizzonti holding SpA takeover offer on Fullsix shares ends.
    
    SPACE4  SPA4.MI 
    Ordinary and extraordinary shareholders' meetings (1630
GMT).
    
    Board meetings on H1 results: GIGLIO GROUP  GGTV.MI ,
INIZIATIVE BRESCIANE  IB.MI , IRCE  IRC.MI , SIT  SITT.MI ,
ZUCCHI  ZUCI.MI .
    
    ((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/