Italy - Factors to watch on October 15
15/10/2025 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. ECONOMY Bank of Italy releases August data on public finances, state borrowing and debt. (*) The Treasury on Tuesday signed off the draft budget, which targets Rome's deficit to fall to 2.8% of national output in 2026 from an estimated 3% this year, and it will now be sent to the European Commission for approval. Tax cuts and other expansionary measures over the next three years will average around 18 billion euros per year, the Treasury said, to be funded by spending curbs and increases in revenues from various sources. (*) Italy, whose sovereign assets from bonds to banks have so often been the subject of market crises in recent years, is currently enjoying a windfall as the central bank's vast gold reserves track record-high prices. COMPANIES STELLANTIS STLAM.MI The automaker announced a $13 billion investment in the U.S. on Tuesday, a move it said will bring five new models to the market and add 5,000 jobs in plants across the Midwest over the next four years. BANKS, INSURANCE COMPANIES Italy will garner resources from its banks and insurers to help fund its 2026-2028 budget, the Treasury said on Tuesday after the cabinet signed off on the draft package. Political sources said the financial sector would be called upon to contribute to state coffers with total resources worth between 4.5 and 5 billion euros ($5.80 billion) spread over several years. (*) GENERALI GASI.MI Private equity fund Apax Partners has instructed advisors UBS and Nomura to explore potential buyers for life insurance group GamaLife, MF reported on Wednesday adding that Generali is interested in the Portuguese operations of the company, which would include the bancassurance partnership with Novo Banco. The deal would involve nearly 9 billion euros in life insurance policies across Italy and Portugal, and could be valued at around 600 million euros, MF added. SNAM SRG.MI Spanish gas grid operator Enagas is in talks to acquire Singaporean sovereign wealth fund GIC's 32% stake in Terega, France's second-largest gas transmission operator, according to a Reuters exclusive. Snam is Terega's leading shareholder, with a 40.5% stake. (*) ELES ELES.MI, MARE MARE.MI The semiconductor equipment group said on Tuesday that the takeover bid for the company by Mare Engineering was not agreed and must therefore be considered hostile. TELECOMS Bouygues Telecom, Free-iliad Group and Orange said on Tuesday they had submitted a non-binding offer to acquire a large part of Altice's activities in France for a total enterprise value of 17 billion euros. LUXURY French luxury group LVMH LVMH.PA on Tuesday named Maria Grazia Chiuri, the former Dior women's designer, as the new creative director of Italian fashion label Fendi, with a first collection to be presented in February. (*) M&A, TELEPASS Private equity groups Warburg Pincus, Bain, Stonepeak and Advent, Dutch pension investment company Apg and toll payment company Via Verde are among those interested in the sale of a 49% stake in motorway and parking services group Telepass by Swiss fund Partners Group PGHN.S, MF reported on Wednesday. DIARY Economy Minister Giancarlo Giorgetti and Bank of Italy Governor Fabio Panetta attend FMI/WB-G20/G7 annual meetings in Washington (to October 17). Rome, Prime Minister Giorgia Meloni and King Abdullah of Jordan co-host meeting of the Aqaba Process on countering terrorism and extremism, focusing on West Africa (0800 GMT). Rome, Foreign Minister Antonio Tajani addresses Chamber of Deputies (0700 GMT) and the Senate (0900 GMT) on the situation in Gaza. Rome, Revenue Agency Director Vincenzo Carbone addresses Supervisory Committee on the tax registry (0630 GMT). Rome, Industry Ministry chairs meeting on the Italian fashion industry, to discuss the challenges of ultra fast fashion and of recent cases of alleged worker exploitation in the supply chain (0800 GMT). Rome, farmers lobby Coldiretti and The European House Ambrosetti end 23rd edition "International Forum on Agriculture and Food" (0730 GMT); on Wednesday expected attendees include ENI ENI.MI CEO Claudio Descalzi. Rome, Poste Italiane PST.MI Chairwoman Silvia Maria Rovere as Consorzio ELIS President presents the semester project "Talent Generation" at 'ELIS CEO Meeting' (0830 GMT). Cernobbio, 'ComoLake' conference "Digital Innovation Forum" continues (0700 GMT); ends on October 17. On Wednesday expected attendees include state railways Ferrovie dello Stato (FS) CEO Stefano Antonio Donnarumma, Enel ENEI.MI CEO Flavio Cattaneo. Naples, conference "Stop Piracy – European cooperation to combat piracy" (0730 GMT); expected attendees include communication Authority AGCOM President Giacomo Lasorella, Telecom Italia (TIM) TLIT.MI CEO Pietro Labriola, soccer league Serie A CEO Luigi De Siervo. ((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/