Italy - Factors to watch on September 9

Iren S.p.A.

09/09/2024 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 Prime Minister Giorgia Meloni said on Saturday her
government has not been weakened by a controversy over a
consultancy role offered to the former lover of a minister who
resigned after a tearful televised apology to his wife.
    Meloni also pledged unwavering support for Ukraine after a
meeting with President Volodymyr Zelenskiy on Saturday, in which
they discussed Kyiv's plans to end the war with Russia and
reconstruction efforts.
    
    ECONOMY
    Italy plans to confirm a projected 1% economic growth
estimate for this year in its medium-term structural budget plan
to be presented to the European Commission by Sept. 20, Economy
Ministry Undersecretary Federico Freni said on Saturday.
    Italy sees its economy expanding by at least 1.2% in 2025,
Freni told Reuters on Sunday. Italian daily Il Sole 24 Ore
reported on Sunday Rome would set a 2025 GDP growth target of
1.3% or 1.4% when factoring in the expansionary impact of
planned tax cuts and higher spending.
    
    DEBT
    There is no reason for Italy to change its line to tap
retail investors with dedicated government bond issuance next
year, Treasury junior minister Federico Freni said on Saturday.
    The Italian Treasury said on Friday it would sell 7.5
billion euros in BOT bills at auction on Sept. 11. 
    Treasury announces sale of BTP bonds, with relative amounts
to be auctioned on Sept. 12.
    
    COMPANIES
    AUTOMOTIVE SECTOR
    The European Union should decide already next year whether
to rethink regulation that effectively bans the sale of new
petrol and diesel cars in the 27-nation bloc from 2035, Italy's
Industry Minister Adolfo Urso said on Saturday.
    
    ENERGY
    Italy plans to draft, by early 2025, rules to allow the use
of new nuclear power technologies, the Energy Minister Gilberto
Pichetto Fratin said on Saturday, signalling a potential
reversal of the country's current ban on nuclear power
production.
    Italy is working on the creation of a new company and on a
partnership with a foreign industrial investor to build nuclear
reactors in the country, Industry Minister Adolfo Urso was
quoted as saying by ANSA on Sunday. 
    
    UNICREDIT  CRDI.MI 
    Italy's second largest bank is discussing 1,000 voluntary
layoffs with trade unions, 320 of which have already been
identified and the remaining 680 by 2030, Italian newspapers
reported on Saturday.  
    
    BANCA MONTE DEI PASCHI DI SIENA  BMPS.MI 
    Italy's Treasury will stick to the agreement with the EU on
the sale of its stake in the Italian bank, but not in a hurry,
Economy Ministry Undersecretary Federico Freni said on Saturday.
    
    ENEL  ENEI.MI 
    The Italian utility group is interested in studying new
nuclear power technologies including small modular reactors, the
head of the Italian utility's power grid division said on
Saturday.
    
    LEONARDO  LDOF.MI 
    Defence spending should be deducted from the calculation of
the public deficit, at least in a first stage, to allow European
countries that also belong to NATO to increase their investment
in the sector towards 2% of GDP, Leonardo Chairman Stefano
Pontecorvo told Corriere della Sera on Saturday.
    Collaboration with Rheinmetall on the new tank is
progressing well, and Leonardo is open to further cooperation
with other groups, Pontecorvo added.
        
  
        STELLANTIS  STLAM.MI 
  
    The Franco-Italian car maker said on Saturday it is
recalling 1.46 million vehicles worldwide due to a software
malfunction in the anti-lock brake system that can increase the
risk of a crash.
    
    EDISON  EDNn.MI  
    The Italian utility plans to use proceeds of up to 630
million euros from the sale of its gas storage assets for M&A,
its CEO said on Friday, adding the group was looking at
potential deals both in Italy and abroad.
    
    FERROVIE DELLO STATO (not listed)
    The Italian railways operator will study whether to seek
outside investors, including through a potential bourse listing,
its newly appointed Chief Executive Stefano Donnarumma said on
Saturday.
    
    DIARY
    Milan, "Euronext Sustainability Week" opening event with
Euronext  ENX.PA  Chairman and CEO Stephane Boujnah, Generali
 GASI.MI  Chairman Andrea Sironi, state lender Cassa Depositi e
Prestiti (CDP) Chairman Giovanni Gorno Tempini, Banco BPM
 BAMI.MI  Chairman Massimo Tononi, Snam  SRG.MI  Chairwoman
Monica de Virgiliis, Industrie De Nora  DNR.MI  CEO Paolo
Dellacha, CEO EuroGroup Laminations  EGLA.MI  CEO Marco Arduini,
Iren  IREE.MI  Chairman and Utilitalia Deputy Chairman Luca Dal
Fabbro, Rahul Ghosh from Moody's Ratings (0800 GMT).
    Florence, Leonardo CEO Roberto Cingolani attends 34th
Congress of the International Council if the Aeronautical
Sciences (ICAS) (0730 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/