Italy - Factors to watch on November 2
Italy - Factors to watch on November 2 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 (*).
POLITICS
Italy's main centre-left opposition leaders on Friday set out a timeline to build an alternative to Prime Minister Giorgia Meloni's government.
Elly Schlein, leader of the Democratic Party (PD), Giuseppe Conte, leader of the 5-Star Movement, and Angelo Bonelli and Nicola Fratoianni, leaders of the Green-Left Alliance (AVS), said talks on a common programme would be completed by the end of November, with primaries to choose the alliance's candidate for prime minister to be held by the end of February.
ECONOMY
Italy plans to impose a 26% levy on capital gains of the wealthy who transfer their tax domicile abroad and hold financial investments worth at least €800,000, the budget law showed. The Treasury expects €3,4 million of higher revenue next year stemming from the measure, rising to €6,7 million the following years.
Italy plans to collect €5.9 billion from the financial sector to help cover tax cuts and spending hikes in next year's budget, the budget bill showed.
As part of the package, Rome will hike by three percentage points the IRES corporate tax on banks and insurers, pocketing €784 million. Italy will also double to 0.8% from 0.4% the band of its tax on financial transactions, in a move expected to garner €1.38 billion.
Over the next three years through 2029, the financial sector's contribution to state finances will amount to almost €12 billion.
S&P Global to release Italy's October manufacturing PMI index (0845 GMT).
DEBT
Treasury to issue Italy's state sector borrowing requirement data for October.
COMPANIES
INTESA SANPAOLO ISP.MI, BANCA MONTE DEI PASCHI DI SIENA BMPS.MI
Intesa will open the tender phase for its Monte dei Paschi buyout bid a few days after markets watchdog Consob approves its offer document, CEO Carlo Messina said in an interview to Class CNBC television as reported by Milano Finanza on Saturday.
"We will then wait for the antitrust authorisations which I'm fully confident about and, in parallel, for the 'golden power' process," Messina said.
The Italian competition authority could require Intesa Sanpaolo to limit its appointments to Generali's GASI.MI board to no more than two independent directors as part of its review on the acquisition of MPS, La Stampa reported on Sunday. Such a measure would not prevent Intesa from receiving the capital benefit from the European Central Bank provided for under the Danish Compromise, the newspaper added.
UNICREDIT CRDI.MI
The Italian bank said on Friday it was committed to financing Germany's medium-sized Mittelstand companies, seeking to allay concerns as it aims for a deal to take over Commerzbank CBKG.DE.
ENERGY SECTOR
Italy will hike by three percentage points the IRAP corporate tax band for companies in the energy sector, the budget bill showed, forecasting higher revenue amounting to €734 million next year. The tax hike is worth around €2.5 billion through 2029.
(*) SNAM SRG.MI
Italian gas storages have reached 91% of capacity, the chief executive of the country's gas transport operator was quoted as saying by daily La Stampa on Monday. This level will allow Italy to mitigate price pressures in the coming months, when gas inventories in countries such as Germany are expected to run down, CEO Agostino Scornajenchi said.
(*) ITALGAS IG.MI
Berenberg on Monday raised the rating on the Europe's largest gas distributor to 'buy' from 'hold and cut the target price to €10.5 from €11.
STELLANTIS STLAM.MI
Transport ministry issues data on Italy's new car registrations in October.
TREVI TFI.MI
Italy's construction group Webuild WBD.MI said on Friday it had raised its stake in Trevi to 34.6%, turning its voluntary bid for the smaller rival into a mandatory, unconditional offer.
(*) SECO IOT.MI
The high-tech company said on Monday it had strengthened its presence in the Asian-Pacific region with the acquisition of a 60% stake in Qiyang Technology and the remaining 45% in Fannal Electronics.
LAZIO LAZI.MI, JUVENTUS JUVE.MI
Lazio came from behind to beat Cagliari 2-1 on Sunday and move three points clear at the top of Serie A, while Juventus eased the pressure on coach Luciano Spalletti with a 2-0 home victory over Napoli.
ITA AIRWAYS (not listed)
The CEO of the Lufthansa-backed LHAG.DE Italian airline, Joerg Eberhart, told Corriere della Sera in an interview published on Sunday that ITA was on track to close the year with a positive operating result. "With a bit of luck, we will do better than in 2025, when EBIT was €25.1 million, despite the crises and higher fuel costs", he said, adding that ITA was "still more than 80% hedged on jet fuel this year".
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
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/