Italy - Factors to watch on Dec. 22

Ops Ecom SpA

22/12/2020 05:00

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 (*).
    
    For a complete list of diary events in Italy please click on
 IT/DIA .
    
    GENERAL
    Italy reported 415 coronavirus-related deaths on Monday
against 352 the day before, the health ministry said, while the
daily tally of new infections decreased to 10,872 from 15,104,
reflecting the customary decline in testing over the weekend.
 urn:newsml:reuters.com:*:nR1N2HO008
    
    COMPANIES
    (*) ATLANTIA  ATL.MI 
    The collapse of a motorway bridge in Genoa in which 43
people died in 2018 was caused by a combination of factors,
including insufficient maintenance, a report by technical
advisers appointed by the judge in charge of the investigation
said on Monday.  urn:newsml:reuters.com:*:nL8N2J15GW
    The Italian infrastructure group said on Monday it had
renewed a credit line of up to 900 million euros for its
motorway unit Autostrade per l'Italia.  urn:newsml:reuters.com:*:nL8N2J14YZ
    (*) The due diligence of Italy's state lender CDP on
Autostrade per l'Italia assets showed a need for greater
investments to guarantee the maintenance and operation of the
Atlantia's unit, which could led to a valuation of the toll road
operator lower than 8.5-9.5 billion euros previously thought, Il
Messaggero reported.
    
    TELECOM ITALIA (TIM)  TLIT.MI , TISCALI  TIS.MI 
    Italy's competition authority said on Monday it had opened
an investigation into TIM's FiberCop last-mile network grid,
describing the project as a strategic national project which
required full transparency. As well as TIM, the probe would
concern Fastweb, Teemo Bidco, FiberCop SpA, Tiscali Italia and
KKR & Co. Inc.  urn:newsml:reuters.com:*:nS8N2FY09J
    
    BANKS
    PwC said on Monday the market expected an inflow of fresh
non performing exposures (NPEs) for Italian banks of between
60-100 billion euros in the next 24 months due to the pandemic.
Net of potential mitigating factors, including public support
measures, new NPEs could amount to 50-70 billion. However PwC
said Italian banks were expected to offload between 30-40
billion euros of NPEs a year in the 2021-2023 period.
    
    UNICREDIT  CRDI.MI 
    Italy's no.2 bank said on Monday its board had approved the
exit terms of CEO Jean Pierre Mustier who will be leaving
without any severance payment nor any termination payments other
than the mandatory termination payments, in line with
commitments taken when he joined the bank.  urn:newsml:reuters.com:*:nS8N2FY09G
    
    (*) POSTE  PST.MI  
    The fourth quarter results "will be affected by the new
lockdown but to a lesser extent" than the previous ones, the
state-controlled group's Chief Executive Matteo Del Fante told
la Repubblica. In an interview with the Italian daily the CEO
added that the group is ready to open two structures in China to
deal with the Italian orders of goods from the country. 
    
    MONTE DEI PASCHI  BMPS.MI 
    Fitch said on Monday it had revised its rating watch on the
lender's B rating to 'negative' from 'evolving', following the
capital erosion suffered by the bank due to the materialisation
of some larger-than-anticipated legal risks and the impact of a
spin-off of some assets and liabilities to State-owned bad loan
manager AMCO.  urn:newsml:reuters.com:*:nFit69zPCn
    
    BANCA IFIS  IF.MI 
    The Italian bank appointed Frederik Geertman to take over as
chief executive starting in April after current CEO Luciano
Colombini announced his intention to resign, according to a
statement on Monday.  urn:newsml:reuters.com:*:nL8N2J14UI
    
    ILLIMITY BANK  ILTY.MI 
    Ordinary and extraordinary shareholders' meeting (0900 GMT).
    
    (*) GIGLIO GROUP  GGTV.MI 
    The company successfully completed a share capital increase
reserved to institutional investors and qualified shareholders
at a price of 1.97 euros per share through an 'accelerated book
building' procedure.  urn:newsml:reuters.com:*:nFWN2J10SZ  urn:newsml:reuters.com:*:nBIA4BhMY0    
    
    DIARY
    Rome, Prime Minister Giuseppe Conte meets delegation of LEU
party on 'Recovery Fund' (1200 GMT).
    Rome, Chamber of Deputies examines 2021 budget law (0800
GMT), voting follows (from 1200 GMT).
    Rome, Invitalia CEO Domenico Arcuri speaks before Chamber of
Deputies Industry Committee on ex-Ilva (1200 GMT).
    Web talk "Boosting Italy's potential" with Telecom Italia
Vice Executive Chairman Alessandro Picardi (1630 GMT).
    
    ((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/