Italy - Factors to watch on May 27

Metlen Energy & Metals SA

27/05/2024 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    
    The G7 will explore ways to use the future income from
frozen Russian assets to boost funding for war-torn Ukraine,
finance chiefs from the Group of Seven industrial democracies
said on Saturday, but offered no details of how to do so after
their meeting in Italy.
    
    The European Union should follow the example of the United
States and protect its industry by imposing tariffs on Chinese
products, Italian Industry Minister Adolfo Urso said on
Saturday.
    
    Two pan-European umbrella groups on the furthest right of
the political spectrum have no plans to merge but have plenty of
room to work together in key areas, Italian Prime Minister
Giorgia Meloni said on Friday.
    
    ECONOMY
    There is growing consensus within the European Central Bank
over the need for a first rate cut as inflation is diminishing,
creating the conditions to ease its monetary policy, ECB
policymaker Fabio Panetta said on Saturday.
    
    Recent economic data strengthens the European Central Bank's
confidence about lowering borrowing costs as inflation eases,
ECB board member Piero Cipollone said on Sunday.   
    
    
    DEBT
    The Italian Treasury said on Friday it will offer 6 billion
euros in 6-month BOT bills at austion on May 29. 
    Economy Ministry announces sale of BTP and CCTeu bonds, with
relative amounts to be auctioned on May 30.
    
    COMPANIES
    
    UNICREDIT  CRDI.MI /INTESA SANPAOLO  ISP.MI  
    Italian banks must halt their business in Russia as staying
in the country also brings a "reputational problem," European
Central Bank policymaker Fabio Panetta said on Saturday.
    
    U.S. Treasury Secretary Janet Yellen told Reuters that
European banks face growing risks operating in Russia and the
U.S. is looking at strengthening its secondary sanctions on
banks found to be aiding transactions for Russia's war effort.
    
    POSTE ITALIANE  PST.MI 
    Italian Prime Minister Giorgia Meloni said on Friday that
her government has not yet taken any decision regarding the
possible sale of further stakesin the group, adding that the
company would in any case remain under state control.
    
    STELLANTIS  STLAM.MI 
        Negotiations between the government and the auto maker
will  end in the coming days with an agreement under which
Stellantis commits to increasing its annual production in Italy
to 1 million vehicles, Industry Minister Adolfo Urso said on
Saturday speaking at a business conference in Trento.
  
        Urso also said that in the coming months the country
would be able to attract a second car maker to base part of its
production in the country. 
  
        
  
        FERRARI  RACE.MI 
  
    Ferrari's Charles Leclerc won the Monaco Grand Prix on
Sunday to become the first home winner of Formula One's showcase
race since Louis Chiron raced around the city streets in 1931
    
    DIARY
        Milan, Mytilineos  MYTr.AT  holds event on the occasion
of opening new offices (1530 GMT) with Cabinet Undersecretary
Alessandro Morelli, Deputy Minister of Enterprise and Made in
Italy Valentino Valentini, energy authority ARERA Commissioner
Stefano Saglia, Althesys CEO Alessandro Marangoni, Mytilineos
Energy & Metals Chairman Evangelos G. Mytilineos.
  
        Palermo, Prime Minister Giorgia Meloni signs government
agreement with Sicily regional authorities.
    Turin, Stellantis  STLAM.MI  holds event 'Stellantis future
perspectives' (1500 GMT); CEO Carlos Tavares meets
representatives from trade unions FIM, FIOM, UILM, UGLM, FISMIC
AQCFR.
    
    ((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/