Italy - Factors to watch on May 15

Interpump SpA

15/05/2023 07:38

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 leaders promised on Saturday continued military and
financial backing for Ukraine and reiterated support for its EU
membership bid as President Volodymyr Zelenskiy visited Rome for
the first time since the war began.
        (*) Italy's Foreign Minister Antonio Tajani warned in an
interview with Il Messaggero on Monday of a new wave of migrants
from Africa to Europe if the Black Sea deal on grain exports is
not renewed. 
    
    ECONOMY
    (*) The European Commission will forecast Germany's economic
growth this year at 0.2%, while projecting a 1.2% rate for
Italy, Italian daily La Stampa reported on Monday, citing
Brussels-based sources.
    Bank of Italy releases March data on public finances, state
borrowing and debt.
    
    DEBT
    Fitch left its rating on Italy's sovereign debt unchanged at
BBB on Friday and also confirmed a stable outlook. The U.S.
agency revised its 2023 forecast for the Italian economy to 1.2%
from 0.5% previously, due to significant easing of the natural
gas crisis in Europe, a strong rebound in tourism and the
strengthening of global demand. In 2024, Fitch expects the
economy to expand by 0.8%, slower than the 1.3% that it forecast
in March.
        
    COMPANIES
    (*) UNICREDIT  CRDI.MI 
    Italy's second-largest bank is well above the Minimum
Requirements for Own Funds and Eligible Liabilities (MREL) set
by Resolution authorities. 
    
    INTESA SANPAOLO  ISP.MI 
    Goldman Sachs held a 6.42% stake in the Italian bank as of
May 5, mostly through financial derivative contracts.
        
    WEBUILD  WBD.MI 
    A consortium led by Webuild has won two contracts worth a
total of over 3.7 billion euros ($4.07 billion) to build high
speed railway links in southern Italy, the country's largest
construction company said on Friday.
    
    SNAM  SRG.MI  
    The Italian gas grid operator could raise its stake in the
Rovigo regasification terminal to 25-30% from the current level
of around 7%, the La Repubblica newspaper reported on Sunday.
    The paper added that international funds, including KKR
 KKR.N , Macquarie  MQG.AX , BlackRock  BLK.N , Energy
Infrastructure  ENIAQ.UL  and Igneo Infrastructure could buy the
remaining stakes in the facility.
    Current owners ,Exxon Mobil Corp  XOM.N  and Qatar Energy,
have opened the data room to potential bidders, La Repubblica
said, citing financial sources. 
    
    SARAS  SRS.MI 
    Global commodities trader Trafigura has raised its stake in
the Italian refiner to 12.46% from 5.23%, the companies said on
Friday, strengthening Trafigura's foothold over Mediterranean
oil flows.
    
    ILLIMITY  ILTY.MI  
    CEO Corrado Passera told the Milano Finanza newspaper on
Saturday he expects "strong competition" for sight deposits in
the coming months, prompting illimity to increase returns for
sight depositors to preserve its funding structure despite
having nearly 900 million euros in readily available liquidity.
    
    LOTTOMATICA  LTMC.MI 
    Norges Bank held a 3.4% stake as of May 3, the company's
first day of listing. David Sambur (Apollo) had 67.78%,
according to data published by Italy's market watchdog CONSOB.
      
    JUVENTUS  JUVE.MI 
    The Agnellis have become more open to discussing future
options for Italian soccer club Juventus, the only major
loss-making asset in Exor's portfolio, financiers involved in
regular talks with the family told Reuters. 
    Options discussed include the possibility of selling a stake
to a minority partner, but any possible decision is not imminent
and will come only once there is clarity on the accounting and
judicial clouds hanging over the club, sources said.
    Second-half goals by Nicolo Fagioli and Gleison Bremer
secured Juventus a comfortable 2-0 win against second-bottom
Cremonese in Serie A on Sunday, but the result was soured by
another injury to midfielder Paul Pogba.
    
    LAZIO  LAZI.MI  
    A late goal by Sergej Milinkovic-Savic rescued a 2-2 home
draw for Lazio against relegation-threatened Lecce in Serie A on
Friday, but the club's hopes for a top-four finish and a
Champions League spot remain in jeopardy.
    
    IPO, ITALIAN DESIGN BRANDS (IDB)
    (*) Tamburi Investment Partners (TIP) is a long-term
investor in the high-quality furniture and design company, IDB's
Chief Executive Andrea Sasso told Corriere della Sera's
L'Economia.
    IDB's IPO ends on Monday.    
    
    IPO, MISSONI
    Plans for a stock market listing of the Italian fashion
group have been postponed to beyond 2023, the CEO of minority
investor FSI, Maurizio Tamagnini, told the Milano Finanza
newspaper on Saturday.  
          
    INTERPUMP GROUP  ITPG.MI 
    Board meeting on Q1 results.
    
    CREDITO EMILIANO  EMBI.MI 
    Trades ex-dividend of 0.33 euro per share.
        
    DIARY
    Rome, Chamber of Deputies meets on law decree 'Messina
bridge' (1000 GMT).
    Italy, two-day first round of local elections ends, with
polls closing at 1300 GMT. 
    
    ((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/