Italy - Factors to watch on Jan. 21

Ki Holding SpA

21/01/2019 05:00

MILANO, Jan 21 (Reuters) - 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
    The Italian economy will grow just 0.6 percent this year,
the Bank of Italy said on Friday, slashing a projection of 1.0
percent made a month ago due to trade tensions and a weaker
investment outlook.
    The latest forecasts are bad news for the radical government
which took office in June last year and is trying to boost the
flagging economy without falling foul of European Union budget
rules.  urn:newsml:reuters.com:*:nR1N1W502G  
    
    COMPANIES
    MONTE PASCHI  BMPS.MI , CARIGE  CRGI.MI , UBI BANCA  UBI.MI 
    BPER  EMII.MI 
    Italy is considering merging troubled banks Monte dei Paschi
and Banca Carige with healthier rivals such as UBI Banca as it
scrambles to avert a new banking crisis, sources familiar with
the matter said.  urn:newsml:reuters.com:*:nL8N1YZ0KG   
    
    UBI BANCA, BANCO BPM  BAMI.MI , BPER BANCA  EMII.MI 
    The three banks fall into a second-tier group of European
lenders which are required by the ECB to achieve a 50 percent
coverage of their secured problem loans by the end of 2020 and a
100 percent coverage by the end of 2025, Il Sole 24 Ore reported
on Saturday. For unsecured soured loans the coverage thresholds
are 60 percent in 2020 and 100 percent in 2024.
    
    INTESA SANPAOLO  ISP.MI , UNICREDIT  CRDI.MI 
    Italy's top two banks fall into a group of stronger European
banks which the ECB wants to have a 60 percent coverage of all
secured soured loans by the end of 2020 rising to 100 percent by
the end of 2024. The coverage level demanded for unsecured
problem loans is of 70 percent in 2020 and 100 percent in 2023.
    
    LUXOTTICA  LUX.MI 
    The Italian eyewear maker said on Friday a mandatory
exchange offer it launched after agreeing to merge with France's
Essilor  ESSI.PA  had been 97.5 percent subscribed and would
lead to a delisting of Luxottica shares from the Milan bourse.
 urn:newsml:reuters.com:*:nBIA14lfP4
    
    CARIGE  CRGI.MI 
    Troubled Italian lender Banca Carige said on Friday it had
asked the treasury to tap a state guarantee scheme to issue two
bonds worth 2 billion euros in total.  urn:newsml:reuters.com:*:nS8N1YP0AA
    
    TELECOM ITALIA  TLIT.MI 
    Responding to Vivendi, Telecom Italia's spokesman said on
Friday that FY results issued on Thursday were the outcome of a
strategy plan put in place by former CEO Amos Genish who had
been backed by Vivendi.  urn:newsml:reuters.com:*:nS8N1YP0AD
    TIM said on Friday it had appointed Lorenzo Forina as chief
revenue officer, a newly created role who reports directly to
the CEO and is responsible for developing the company's 
commercial strategy for both consumer and business clients.
    Italian communications regulator AGCOM has given Telecom
Italia (TIM)  TLIT.MI  proposal to confer all of its network
assets into a separate company fully controlled by the group the
thumbs down, according to a document published on its website on
Saturday.  urn:newsml:reuters.com:*:nL8N1ZK0I9  
    
    ATLANTIA  ATL.MI 
    Autostrade per l'Italia General Manager Roberto Tomasi is
set to become the new chief executive of the motorway operator,
replacing Giovanni Castellucci, parent company Atlantia said on
Friday.  urn:newsml:reuters.com:*:nS8N1YP0A8
    
    TREVI FINANZIARIA INDUSTRIALE  TFI.MI 
    A group of around 30 creditor banks has given a final
approval to a restructuring plan that will see them convert into
equity 310 million euros of Trevi's debt  
    
    OVS  OVS.MI 
    AZ Fund Management held 10 percent in the Italian retailer
as of Dec. 13, a filing by Italy's market watchdog showed on
Friday. AZ Fund Management does not intend to acquire control of
Ovs, another filing showed, adding the investor did not have
formal investment goals to achieve in the next six months
regarding further acquisition or disposal in holdings of OVS.
 urn:newsml:reuters.com:*:nS8N1YP0AB
    
    CREDITO VALTELLINESE  PCVI.MI 
    Morgan Stanley cut its stake in Italy's Credito Valtellinese
to 0.44 percent as of Jan. 10 versus 6.2 percent previously, a
filing by Italy's market watchdog showed on Friday.  urn:newsml:reuters.com:*:nS8N1YP0AC
    
    ANSALDO STS  STS.MI 
    Hitachi Rail said it had reached a 99.156 percent stake in
Ansaldo STS.  urn:newsml:reuters.com:*:nBIA28ST5c
    
    KI GROUP  KI.MI 
    Ordinary and extraordinary shareholders' meetings (1400
GMT).
    
    ALITALIA CAITLA.UL
    Airlines Delta  DAL.N  and AirFrance-KLM are in talks with
Italy's national railways Ferrovie dello Stato (FS) to take each
a 15 percent stake in ailing carrier Alitalia CAITLA.UL, Italian
newspapers La Stampa and Il Messaggero reported on Sunday.
    The two newspapers also said that FS managers would meet
Lufthansa representatives in Rome on Monday to discuss the
purchasing of an up to 51 percent stake in Alitalia. 
    Low-cost airline easyJet  EZJ.L  offer for Alitalia is
likely to have been put aside, according to the two papers. 
        
    Trade ex-dividend: ENEL  ENEI.MI  of 0.14 euro per share as
2018 interim dividend; SNAM  SRG.MI  of 0.0905 euro per share as
2018 interim dividend.
    
    DIARY
    Rome, Chairman of the Senate's Finance Committee Alberto
Bagnai attends a book presentation.
    
    ((Milan newsroom, +39 02 6612 9507, fax +39 02 801149, 
milan.newsroom@news.reuters.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/ 

 (Reporting By Viviana Venturi)
 ((viviana.venturi@thomsonreuters.com;))