Italy - Factors to watch on October 6
Italy - Factors to watch on October 6 The following factors could affect Italian markets on Tuesday.
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
DEBT
Treasury announces details of the next BOT auction.
(*) A sliding euro is the latest alarm bell for policymakers facing a surge in French borrowing costs that has started to spill over into the broader euro area.
COMPANIES
(*) INTESA SANPAOLO ISP.MI, MONTE DI PASCHI DI SIENA (MPS) BMPS.MI
PLT Holding, the investment vehicle of entrepreneur Pierluigi Tortora, is considering tendering its 1.2% stake in MPS to Intesa Sanpaolo's offer, confirming support to MPS CEO Luigi Lovaglio, La Stampa reported on Tuesday.
The report added that Lovaglio is working with advisers on an updated defence strategy against Intesa's bid, including a possible postponement of the October 29 shareholder meeting as well as proposing an increase in the €4 billion dividend offered in cash and Generali GASI.MI shares.
(*) Dailies MF and Corriere della Sera also reported on the possibility of increasing the component of Generali shares as part of the dividend offered, potentially up to the entire 13.2% holding currently owned by Mediobanca MDBI.MI.
UNICREDIT CRDI.MI
President Vladimir Putin has approved the sale of UniCredit's Russian subsidiary, according to a decree published on the Russian government's website on Monday.
(*) ENEL ENEI.MI
Enel, one of the biggest utilities in Europe, on Tuesday faces a potential regulatory challenge to its lucrative contract to supply electricity to the largest city in the Southern Hemisphere.
Brazil's electricity regulator, Aneel, has scheduled a meeting on October 6 to discuss whether to recommend termination of the Italian power company's licence to distribute electricity across metropolitan Sao Paulo before its 2028 expiry date.
WEBUILD WBD.MI, TREVI TFI.MI
Webuild said on Monday it had further increased its stake in its takeover target to 26.85%, after purchasing on the market at an average price of €5.1639 per share, below its takeover offer price of €5.165.
AVIO AVI.MI
The rocket maker on Monday launched a share buyback programme for up to 1% of its share capital, with an estimated outlay of €15 million.
THE ITALIAN SEA GROUP TISGR.MI
The troubled yacht maker said on Monday it had presented a financial report to the Court of Florence showing that its operating loss had increased to €46.1 million at the end of August, from €25.6 million at the end of July.
(*) RECORDATI RECI.MI
Respighi BidCo - a vehicle formed by CVC Capital Partners CVC.AS and Belgian investment group Groupe Bruxelles Lamberthas- said on Tuesday it had raised the price of its offer for the drugmaker to €53 per share, or €53.71 including the 2025 dividend. The acceptance period has been extended until October 23, the statement added.
(*) TECHNOPROBE TPRO.MI
JP Morgan on Tuesday initiated coverage of the microelectronics and semiconductor company with an 'overweight' rating and a target price of €45 per share.
DIARY
Italian trade union FIM CISL presents its third-quarter report on the output of Stellantis' STLAM.MI Italian plants (0900 GMT).
Rome, Prime Minister Giorgia Meloni meets Lithuanian President Gitanas Nausėda at Palazzo Chigi (1430 GMT).
Milan, Bocconi University event on entrepreneurial ecosystems with Prada 1913.F CEO Andrea Guerra and ION founder and CEO Andrea Pignataro (1615-1745 GMT).
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/