Italy - Factors to watch on June 18

Pierrel SpA

18/06/2019 07:34

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 .
    
    POLITICS
    Italy believes it can satisfy the European Commission's
demands over its public accounts for this year, but the real
sticking point in negotiations is now about 2020, government
sources say.  urn:newsml:reuters.com:*:nL8N23O526
        
    COMPANIES
    BANKS
(*) An Italian parliamentary committee approved late on Monday a
tax measure to spur mergers among banks based in the country's
poorer south, a lawmaker of the ruling League party said,
warning of lenders in the region at risk of default.
 urn:newsml:reuters.com:*:nS8N23O000
    
(*) CREDITO VALTELLINESE  PCVI.MI 
    The Italian mid-sized lender said on Tuesday it would spin
off its bad debts into a separate unit and sell half of them, in
order to roughly halve its gross soured loan ratio to below 6.5%
in 2023.  urn:newsml:reuters.com:*:nS8N23C015
    Creval said on Tuesday Chief Financial Officer Ugo Colombo
and Chief Commercial Officer Roberto Tarricone were leaving the
bank as it appointed a slate of new senior executives.
 urn:newsml:reuters.com:*:nS8N23C017
    French businessman Denis Dumont has increased its stake in
Creval to just above 8%, Il Sole 24 Ore said citing sources
close to the shareholder.
    CEO Luigi Lovaglio presents the bank's new industrial plan
(0900 GMT).
    
(*) UBI BANCA  UBI.MI  
    The lender has mandated KPMG to select a single insurance
partner, Il Sole 24 Ore said, adding non-binding offers would
probably arrive by the end of the month.
    
(*) CARIGE  CRGI.MI  (shares suspended)
    A very low offer for the bank has been submitted to the
adviser of the banking fund that holds Carige's hybrid debt, Il
Sole 24 Ore reported, adding the offer may come from U.S. fund
Apollo. The paper said the fund was likely to reject the offer
at a meeting on Wednesday as too cheap.
    Il Messaggero said new funds for 450-500 million euros would
be injected into Carige, according to the new plan by Apollo
that envisages the U.S. fund investing 120-130 million euros,
while the FITD banking fund and lender Banca Desio would convert
into shares Carige's 320 million euro hybrid bond.
   
(*) UNIPOL  UNPI.MI , BPER BANCA  EMII.MI 
    Unipol has bought an additional 1.2% stake in Italy's
sixth-largest bank for 24.1 million euros, a regulatory filing
showed on Monday. Unipol's shareholding in BPER Banca now stands
at 18.5%.
    
(*) FIAT CHRYSLER  FCHA.MI 
    The car maker's registrations in Europe fell 8.3%
year-on-year in May, while its market share shrank to 7.0% form
7.7% a year earlier, ACEA data showed. Overall registrations in
the region were almost unchanged in May according to ACEA.
    
    HERA  HRA.MI , ASCOPIAVE  ASCI.MI 
    Italian regional utility Ascopiave said on Monday it had
agreed to place its retail gas and power clients in a joint
venture with larger peer Hera in return for a series of gas
distribution assets in the north east.  urn:newsml:reuters.com:*:nL8N23O5N3
    
    AS ROMA  ASR.MI  
    AS Roma's former captain and record goalscorer Francesco
Totti left his job in the management team on Monday, bitterly
complaining that the club's U.S. owner had never given him a
proper role.  urn:newsml:reuters.com:*:nL8N23O52W
    
    FALCK RENEWABLES  AA4.MI  
    Falck Renewables investor places 1.77 pct stake in
accelerated bookbuilding.  urn:newsml:reuters.com:*:nFWN23O0MX
    
    GIBUS  IPO-GIBUS.MI 
    Awnings and pergolas manufacturer Gibus expected to debut on
AIM segment.
    
    PIERREL  PRL.MI 
    Ordinary shareholders' meeting (0830 GMT).
    
    NET INSURANCE  NETI.MI 
    Board meeting to approve update of 2019-2023 industrial
plan.
    
    Annual general meetings: ALFIO BARDOLLA TRAINING GROUP
 ABTG.MI , COSE BELLE D'ITALIA  CBI.MI  (0900 GMT), UNIEURO
 UNIR.MI  (1230 GMT).
    
    DIARY
    Naples, Prime Minister Giuseppe Conte visits Cisco Academy
and Apple Developer Academy (0700 GMT); gives speech at
graduation ceremony; attends conference (0915 GMT); attends
report (1315 GMT).
    Rome, Italian small companies association Confartigianato
holds annual assembly with Deputy Prime Minister and Industry
Minister Luigi Di Maio, Deputy Prime Minister and Interior
Minister Matteo Salvini (0830 GMT).
    Rome, welfare institute INPS holds conference on blockchain
with Deputy Prime Minister and Industry Minister Luigi Di Maio
expected to deliver closing address.
    
    ((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/