Italy - Factors to watch on Jan. 8
08/01/2018 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 .
ECONOMY
Bank of Italy releases December data on Target 2 liabilities
and European Central Bank funding to Italian banks.
POLITICS
A coalition between Italy's main left- and right-wing
parties cannot be ruled out if no clear winner emerges from the
upcoming general election, the country's economy minister was
quoted on Sunday as saying. urn:newsml:reuters.com:*:nL8N1P20IN
DEBT
Treasury announces sale of BTP bonds, with relative amounts
to be auctioned on Jan. 11.
Italy's Treasury said on Friday it would offer 7.5 billion
euros in 12-month BOT bills at auction on Jan. 10. urn:newsml:reuters.com:*:nI6N1OK009
COMPANIES
ATLANTIA ATL.MI
A deadline expires on Monday for Spain's financial authority
CNMV to rule over the Madrid government's request the regulator
revokes the approval it granted in October to the Italian
group's bid for rival Abertis ABE.MC .
CNMV is very likely to hand the issue over to the Spanish
government as Atlantia in the meantime has sought Madrid's
approval for its bid, Il Sole 24 Ore reported on Sunday.
FIAT CHRYSLER AUTOMOBILES FCHA.MI
Shares in the car maker rose 6.35 percent on Friday,
following an upgrade to "overweight" from JPMorgan. Overall
gains in the first week of the year topped 20 percent and 5.7
percent of the company's capital changed hands in the period,
Reuters data showed. The stock closed at 17.92 euros - just shy
of a new record high hit earlier on Friday and up 94 percent
over the past 12 months - compared with JPMorgan's target price
of 21 euros.
Corriere della Sera on Saturday said it would be a mistake
to see the gains as being fuelled by the prospect of a merger as
there was nothing concrete at present in that respect. Other
newspapers over the weekend also reported merger rumours were
unfounded.
TELECOM ITALIA TLIT.MI
A restructuring plan for the phone group drawn up by
consultancy McKinsey targets 400 million euros a year in savings
and would entail 550 million euros in extraordinary charges, Il
Messaggero reported on Saturday. The paper cited union sources
as saying up to 10,000 jobs could be cut over three years and
that a meeting between unions and the company was scheduled for
Jan. 18.
Also La Stampa spoke of 6,000-10,000 job cuts in the three
years through 2020 quoting a Radiocor Plus report based on union
sources.
INTESA SANPAOLO ISP.MI
The bank saw strong demand Friday for a three-part bond
offering, amassing $10.6bn of orders for the $2.5bn deal.
urn:newsml:reuters.com:*:nL1N1P01A7 urn:newsml:reuters.com:*:nL1N1P01OO
BANCA CARIGE CRGI.MI , CREDEM EMBI.MI , UNIPOL UNPI.MI
Top shareholder Vittorio Malacalza's decision to announce
last week that he may further raise his stake in the bank was
driven by cracks in his relationship with CEO Paolo Fiorentino
and fears that some of the banks' shareholders, including
state-owned SGA and Credito Fondiario, may team up to have more
sway over Carige's future, Il Messaggero wrote on Saturday. The
paper mentioned Cariparma, Unipol and Credem as possible M&A
partners from 2019, adding Malacalza would favour a merger with
Credem.
AZIMUT HOLDING AZMT.MI
CEO Sergio Albarelli ruled out the group could be up for
sale in an interview with Milano Finanza on Saturday, adding
Italy did not offer interesting acquisition targets while there
could be more of them abroad.
MONCLER MONC.MI
The luxury outerwear maker is about to enter Thailand's
market, Il Messaggero reported on Sunday, confirming the group
expects low double-digit growth in 2018.
RETAIL
Italians made 51 million purchases on e-commerce platforms
on Dec. 1-24, up 34 percent from a year earlier, la Repubblica
reported on Saturday quoting data by payments group SIA. Amazon
Italia received 2 million orders on Black Friday, up more than
80 percent from 2016, the paper said.
MARR MARR.MI
Sales at the food group are expected to have risen by 50-60
million euros last year over 2016 with an EBITDA margin of
around 7 percent, in line with the company's guidance, Il Sole
24 Ore reported on Sunday.
JUVENTUS JUVE.MI
The Serie A football club said on Friday it had finalised an
accord with FC Schalke 04 to lend player Marko Pjaca until June
30, 2018. urn:newsml:reuters.com:*:nRSD5Wjljh
BANCA SISTEMA BSTA.MI
The lender said on Friday the Bank of Italy had set a
minimum CET1 requirement of 7.125 percent for 2018. That
compares with the bank's CET1 ratio of 12.4 percent as of Sept.
30. urn:newsml:reuters.com:*:nBIAR5jhb
BRUNELLO CUCINELLI BCU.MI
Board meeting on FY preliminary results (net revenues).
CREDITO VALTELLINESE PCVI.MI
Reverse stock split of one new ordinary share every 10
shares owned takes effect.
((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/
Keywords: ITALY FACTORS/JAN. 8