Italy - Factors to watch on Sept. 17

Notorious Pictures SpA

17/09/2018 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
    ISTAT releases July foreign trade data (0800 GMT).
    
    ECONOMY AND POLITICS
    (*) Italian Prime Minister Giuseppe Conte, Deputy Prime
Ministers Luigi Di Maio and Matteo Salvini and Economy Minister
Giuseppe Tria meet in Rome on Monday to discuss the 2019 budget
in an effort "to start pinning down some numbers", Corriere
della Sera reported.  urn:newsml:reuters.com:*:nL8N1W30J9
    The government is considering tax breaks for small Italian
investors who buy domestic government bonds and keep them to
maturity, Il Sole 24 Ore reported on Saturday. The goal is to
have households buy 20 percent of Italy's annual debt issuance,
Infrastructure Undersecretary Armando Siri told the newspaper.
La Repubblica said on Sunday that it was unclear whether Italy's
Finance Minister Giovanni Tria was in favour of this measure. 
    A flat tax on personal income will be postponed to 2020,
Finance Undersecretary Massimo Bitonci was quoted as saying by
la Repubblica daily on Sunday.
    Only taxpayers who owe up to 1 million euros to Italy's tax
agency will be eligible for a tax amnesty under discussion in
Italy, Bitonci told Corriere della Sera on Sunday. 

    
    COMPANIES
    FIAT CHRYSLER  FCHA.MI 
    Fiat is weighs new approaches for its Magneti Marelli car
parts unit after the carmaker received a low offer from KKR
 KKR.N , Bloomberg reported on Sunday.  urn:newsml:reuters.com:*:nL3N1W20AB
    There is room to reach an accord with KKR over Magneti
Marelli in the next few days despite the fact that KKR is now
offering less than 5 billion euros for the unit, Il Sole 24 Ore
reported on Sunday.
    Pietro Gorlier, CEO of Magneti Marelli CEO, could become
FCA's new head of EMEA, Il Sole said.
    
    FERRARI  RACE.MI   RACE.N 
    In presenting a new business plan this week, newly appointed
CEO Louis Camilleri will confirm a previous target to increase
the company's core profit to 2 billion euros by 2022, Il Sole 24
Ore said on Sunday. The production of sports cars will rise by
20 percent to 12,000 units by 2022, it said. 
    
    POSTE ITALIANE  PST.MI , ALITALIA  CAITLA.UL 
    The government is studying a plan under which Poste Italiane
and state-owned railway group Ferrovie dello Stato would buy
struggling carrier Alitalia to prepare it to a partnership with
a rival, Il Corriere della Sera said on Sunday.
    
    BANCA CARIGE  CRGI.MI 
    An Italian judge will decide over top investor Malacalza's
request to freeze the voting rights of three rival shareholders
headed by Raffaele Mincione just before a Sept. 20 shareholder
meeting, several newspapers reported on Sunday.
    Il Messaggero said on Saturday Mincione would present a
legal complaint on Monday asking a court to allow him and his
partners to exercise their voting rights over 15.2 percent of
the bank's capital at the Sept. 20 meeting.
    
    (*) TAMBURI INVESTMENT PARTNERS  TIP.MI 
    Giovanni Tamburi told la Repubblica Affari&Finanza on Monday
that a plan to list high-end food retailer Eataly in 2019 had
not changed.
       
    ATLANTIA  ATL.MI 
    Italy's Prime Minister Giuseppe Conte repeated on Friday
that the government would pursue the revocation of Autostrade's
motorway concession. He added the government does not want
Autostrade to have a role in the reconstruction of Genoa bridge.
    A general reduction in the cables of the stays of Genoa
collapsed bridge did not, in anyway, affect the safety of the
infrastructure, Autostrade per l'Italia said on Saturday citing
official documents and responding to a media report.
    The CEO of state-controlled Anas told la Repubblica on
Sunday the group was ready to operate more motorways in the
country. 
    
    TELECOM ITALIA  TLIT.MI 
    CFO Piergiorgio Peluso could leave the company, MF said on
Saturday, reiterating that former Fiat Chrysler top executive
Alfredo Altavilla could replace the phone group's current CEO
next year.
    
    (*) MEDIASET  MS.MI  
    League leader Matteo Salvini has provided reassurances to
Silvio Berlusconi at a weekend meeting about the fact that the
government does not plan to cap television advertisements
contrary to comments by Junior Minister Vito Crimi, several
newspapers reported.
    
    TREVI GROUP  TFI.MI 
    Italy's Trevi Finanziaria Industriale SpA has informed Bain
Capital Credit of its decision to reject the binding offer it
put forward to rescue the ailing engineering firm.
    The group is working now at a plan stand-alone which
envisages a capital increase. This plan will be presented at a
board meeting to be held by end-September.  urn:newsml:reuters.com:*:nL3N1W05N3
    
    CREVAL  PCVI.MI 
    A group of institutional investors said on Friday it had
presented a slate of candidates to represent minority
shareholders in the bank's board. Shareholders in the bank will
vote on the appointment of a new board at a meeting on Oct. 12. 
    
    MITTEL  MTTI.MI 
    The company's board said on Friday it considered "not fair"
the price offered in a takeover by Progetto Co-Val.  urn:newsml:reuters.com:*:nBIAbnPNRt
    
    STMICROELECTRONICS  STM.MI 
    Trades ex-dividend of 0.06 US dollars per ordinary share as
quarterly dividend.
    
    RETELIT  LIT.MI 
    Investor Fiber 4.0 has increased its stake in the group to
12.82 percent, it said in a statement on Saturday.
    
    Board meetings on H1 results: GABELLI VALUE FOR ITALY
 GVALU.MI , NOTORIOUS PICTURES  NPI.MI .
    
    ((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/