Italy - Factors to watch on October 8
Italy - Factors to watch on October 8 The following factors could affect Italian markets on Thursday.
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
POLITICS
European Union authorities should take rising inflation into account when assessing government deviation from budget goals, Economy Minister Giancarlo Giorgetti said, arguing that higher prices can significantly affect governments' fiscal plans.
ECONOMY
Pfizer PFE.N will cut around 330 jobs in Italy at its Sicily plant, labour unions said on Wednesday, making the US drugmaker the latest international company downsizing its Italian operations.
DEBT
Yields on French and Italian debt rose sharply on Wednesday as a global selloff driven by rising energy prices combined with concerns about high debt levels among some euro zone countries to shake bond markets.
Treasury announces details of the medium-long BTP auction on October 13.
COMPANIES
INTESA SANPAOLO ISP.MI, BANCA MONTE DEI PASCHI (MPS) BMPS.MI, BANCO BPM BAMI.MI, BANCA GENERALI BGN.MI
The Benetton family holding company Edizione will tender its 1.45% stake in the Tuscan bank into the takeover bid announced by Intesa Sanpaolo's ISP.MI, a spokesperson said on Wednesday.
(*) The holding company of Italian entrepreneur Francesco Gaetano Caltagirone said on Thursday it will vote against Monte dei Paschi's (MPS) bids for Banco BPM and Banca Generali at a shareholders' meeting scheduled for October 29. It added that it would also vote against the merger between the Tuscan bank and Mediobanca.
(*)BANCA GENERALI BGN.MI, ASSICURAZIONI GENERALI GASI.MI, FINECOBANK FBK.MI
Main stakeholder Generali is considering a takeover bid on outstanding shares of Banca Generali to reach full ownership in the event that the MPS shareholders' meeting votes against the Tuscn bank's defence moves against Intesa, Italian daily Il Sole 24 Ore and Il Giornale reported on Thursday.
Generali is also considering a bid on Fineco Bank FBK.MI, the Italian newspapers added. Generali did not comment on the rumors, according to the media reports.
BPER BANCA EMII.MI, UNIPOL UNPI.MI
The bank said on Wednesday it had renewed its bancassurance agreements with insurer Unipol until the end of 2036.
(*) Unipol's Board of Directors approved the group's €2.5 billion capital increase, the company said on Wednesday, setting the price at €20.56 per share. Subscription rights may be exercised from October 12 through October 26.
DOVALUE DOVA.MI
(*) The board approved its 2027-2029 business plan on Thursday, focusing on expanding digital collections and improving productivity in its NPE servicing operations. It an EBITDA, excluding non-recurring items, €330-350 million by 2029. The company revised down its 2026 core profit target to €270-290 million from a previous guidance of €300 million.
The Board also approved a €10 million share buyback programme.
PRYSMIAN PRY.MI
The Italian cable maker said on Wednesday that shareholders of US electrical products manufacturer Atkore had approved its acquisition by Prysmian, with closing expected on Oct. 19, 2026.
(*)TELECOM ITALIA (TIM) TLIT.MI, POSTE ITALIANE PST.MI
The timeline for the sale of Tim's unit Sparkle could be delayed further, according to two sources familiar with the matter.
(*) RECORDATI RECI.MI
Italian drugmaker Recordati's Board welcomed the increased bid price by Respighi BidCo, considering it as fair.
Respighi BidCo - a vehicle formed by CVC Capital Partners CVC.AS and Belgian investment group Groupe Bruxelles Lamberthas GBLB.BR - said on Tuesday it had raised the price of its offer for the drugmaker to €53 per share
The tender offer obtained the necessary clearances from the antitrust, FDI and FSR, Recordati said on Wednesday on behalf of Raspighi BidCo.
(*) GENS AUREA OROX.MI
Mattina Holding completed the accelerated bookbuilding process for a 5% shareholding of Gens Aurea, the company said late on Wednesday. The ABB raised €62.5 million from the sale of 5 million shares at a price of €12.50 per share, the company added.
DIARY
Rome, government convenes oil companies and refiners to ask for higher output.
Rome, Industry Ministry holds a new meeting with Electrolux on the restructuring plan (1030 GMT).
Piacenza, Energy Dome plant inauguration.
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
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/