Italy - Factors to watch on Oct. 10

Pierrel SpA

10/10/2018 05:00

The following factors could affect Italian markets on Wednesday.
    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 .
    
    WEDNESDAY OCTOBER 10
    
    POLITICS
    Deputy Prime Minister and Interior Minister Matteo    
Salvini attends ceremony for 40th anniversary of NOCS unit of
Italian Police in Rome (0900 GMT).
    Defence Minister Elsabetta Trenta speaks before the
Parliamentary Committee for the Security of the Republic COPASIR
(0900 GMT).
        
    ECONOMY
    Economic and finance document update Nadef expected to be
presented to the Chamber of Deputies and the Senate.
    ISTAT releases August industrial output data (0800 GMT).
    Bank of Italy releases August data on bank lending and
domestic government bond holdings at Italy-based banks.
    Italian European Affairs Minister Paolo Savona said on
Tuesday the government could change its expansionary 2019 budget
plan if market pressure on Italy intensifies too much, Ansa news
agency reported. urn:newsml:reuters.com:*:nL8N1WP5QF
(*) The leaders of Italy's ruling parties said on Tuesday they
would permit no change to the government's 2019 budget plan,
despite financial market pressure and criticism from the
country's central bank and the parliamentary fiscal
watchdog. urn:newsml:reuters.com:*:nL8N1WP61S
(*) Italy's budget plan  isa "mistake" and the projected rise in
deficit and debt is on the rating agencies' radar, Mark Zandi,
chief economist at Moody's Analytics, told La Stampa in an
interview. urn:newsml:reuters.com:*:nL8N1WQ0PY 
    
    DEBT
    Treasury sells 6.0 billion euros 12-month BOT bills.
Subscriptions close at 0900 GMT.
    For Italy's sovereign debt the timing could hardly be worse:
A budget standoff with Brussels is driving the country's bond
yields to new peaks, just as two credit agencies are weighing
whether to cut their ratings to within one notch of
'junk'. urn:newsml:reuters.com:*:nL8N1WO2HX
    
    COMPANIES
    
    BANKS
    European banking supervisors have stepped up their
monitoring of liquidity levels at Italian banks after a sharp
increase in the country's government bond yields, although there
is no cause for alarm, a senior EU source said on
Tuesday. urn:newsml:reuters.com:*:nL8N1WP5DS
    Italian banks have increased their purchases of government
bonds by 50 billion euros in seven months and, with the increase
in the spread, "there is the risk of a new round of capital
increases and of a reduction in loans to families and businesses
", Il Fatto Quotidiano said.
    
    CARIGE  CRGI.MI 
    The newly-appointed managers of ailing Italian lender Banca
Carige are set to meet with European Central Bank supervisors on
Wednesday, two sources familiar with the matter
said. urn:newsml:reuters.com:*:nL8N1WP5Q7
        
    CERVED  CERV.MI 
    The company said CEO Marco Nespolo has handed in his
resignation and Executive Deputy Chairman Gianandrea De
Bernardis was given all his powers effective immediately. 
    
    ANSALDO STS  STS.MI 
    The company said on Monday it was awarded a major railway
signalling project in Malaysia. urn:newsml:reuters.com:*:nFWN1WP0NN
    
    EDISON  EDNn.MI , SAIPEM  SPMI.MI  
    Russia's Energy Minister Alexander Novak said on Tuesday he
had agreed with Italy's Edison  EDNn.MI  and Greece's
state-controlled gas company DEPA to continue work on a pipeline
project to ship Russian natural gas into Europe.
    Novak also said that the Turkish Stream Project was on track
for first commercial gas at the end of next year. Gas from the
new Nord Stream II pipeline meanwhile would also arrive at that
time and the project will continue even if new sanctions were
imposed, he added.
    
(*) BANCO BPM  BAMI.MI  
    The lender has hired Nomura as an advisor for the sale of
its stake in Agos Ducato, while Credit Agricole is being
assisted by Morgan Stanley.
    
(*) CREDITO VALTELLINESE  PCVI.MI  
    Interviewed by Il Sole 24 Ore, Luigi Lovaglio, the only
candidate for the bank's chairman seat, says that the focus will
initially be on re-launching the lender. Then, "within a couple
of years", the lender will look at a possible tie-up "with an
Italian competitor".
    
    GENERALI  GASI.MI  
    Francesco Gaetano Caltagirone has purchased in recent days
another 0.13 percent of Generali, an regulatory filing showed,
raising its stake to around 4.2 percent.
    
    BANCA GENERALI  BGN.MI  
    The company said net inflows in September amounted to 310
million euros. urn:newsml:reuters.com:*:nFWN1WP0SA
    
(*) BANCA MONTE DEI PASCHI DI SIENA  BMPS.MI  
    The lender's CET 1 ratio is said to have fallen below
regulatory limits set by the ECB, La Stampa said, citing
analysts' calculations. A further rise in the spread would force
the Treasury to intervene again, it added. 
    
(*) TELECOM ITALIA  TLIT.MI  
    Bernstein has cut its price target on the stock to 0.80
euros from 0.85 euros. urn:newsml:reuters.com:*:nFWN1WP0ZP
    
    ENI  ENI.MI 
    CEO Claudio Descalzi attends 'Energy Transition Summit' on
"Driving Energy for Inclusive Prosperity" in Milan (0700 GMT)
and on "Energy as a Bridge through the Mediterranean Region"
(1545 GMT).
    
    TERNA  TRN.MI 
    CEO Luigi Ferraris attends conference on "Energy as a Bridge
through the Mediterranean Region" in Milan (1545 GMT).
    
    PIERREL  PRL.MI 
    Board meeting on results up to Sept. 30, 2018.
    
    M&A, EDIZIONE 
    Edizione, the holding company of Italy's Benetton family,
said on Tuesday it had sold 20 percent of an investment vehicle
through which it holds 29.9 percent of Spanish tower group
Cellnex  to a unit of Singapore's sovereign fund
GIC. urn:newsml:reuters.com:*:nI6N1VP02N
    
    ((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/