Italy - Factors to watch on October 7

Relatech SPA

07/10/2024 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
    Italy plans to raise taxes on large companies such as
e-commerce groups as it looks for ways to collect additional
cash for state finances, a Treasury official said on Friday.    
    Bank of Italy releases September data on Target 2
liabilities and European Central Bank funding to Italian banks.
    
    DEBT
    Treasury announces sale of 12-month BOT bills, with relative
amounts to be auctioned on Oct. 10.
    
    COMPANIES
    ITALGAS  IG.MI 
    Italy's biggest gas distributor Italgas said on Saturday it
had agreed to buy smaller rival 2i Rete Gas in a 5.3 billion
euro deal, including debt.
    The group will unveil its updated business plan to 2030 on
Monday in Milan.
    
    UNICREDIT  CRDI.MI 
    Cost cuts at Commerzbank  CBKG.DE  if the Italian bank were
to buy its German rival would mostly affect its head office not
its branch network, UniCredit CEO Andrea Orcel was quoted as
saying on Friday.
    Unipol  UNPI.MI  CEO Cimbri is rooting for UniCredit head
Andrea Orcel over a potential acquisition of Commerzbank by the
Italian lender, ANSA reported on Saturday.
    If a market transaction such as UniCredit's deal on
Commerzbank were to be thwarted by national policymakers, the
autonomy of the European Central Bank would be called into
question, Italian Banking Association Head Antonio Patuelli was
quoted as saying by ANSA.
    
    UNICREDIT  CRDI.MI , NEXI  NEXII.MI 
    The two companies have agreed to extend their existing
payments partnership in Italy, Austria and Germany until 2036,
Corriere della Sera reported on Sunday.  
    
    ENI  ENI.MI 
    The Italian energy company said on Sunday it had signed with
the state-backed Japan Organization for Metals and Energy
Security (JOGMEC) a preliminary agreement to cooperate on LNG
procurement, as Eni also seeks investors for its LNG projects.
    
    STELLANTIS  STLAM.MI 
    The Jeep parent is taking 'drastic measures' to conserve
cash, the Wall Street Journal said on Friday. 
        
        LEONARDO  LDOF.MI 
  
    Italian prosecutors accused seven people and two
sub-contractors of crimes including fraud and breaching airplane
safety rules following an investigation into suspected flawed
parts produced by an Italian company for Boeing  BA.N .
    The prosecutors launched their investigation in late 2021
after Boeing said some parts for its 787 Dreamliner plane
supplied by a company working for the Italian aerospace group
had been improperly manufactured.
        
    MONTE DEI PASCHI DI SIENA  BMPS.MI 
    Rome aims to sell up to around 15% of the lender in an
upcoming share placement, with the government's stake in the
bailed-out bank falling to as low as 12%, two sources close to
the matter told Reuters on Friday.
    A deal with Monte dei Paschi is not part of Unipol's
 UNPI.MI  strategy, Unipol  UNPI.MI  CEO Carlo Cimbri was quoted
as saying by ANSA on Saturday. Cimbri, however, said that the
insurance group might consider investing in a stake in the
Tuscan bank if it were linked to the acquisition of a sales
network for its insurance products.    
        
    TELECOM ITALIA (TIM)  TLIT.MI 
    The Italian phone group said on Friday it entered exclusive
talks with Italy's Treasury and its partner Asterion to
negotiate a binding offer for the telecoms group's subsea cable
unit Sparkle by Nov. 30.
        
    POSTE ITALIANE  PST.MI 
    The Treasury said on Friday it had hired Intesa Sanpaolo,
Mediobanca, UniCredit, Citi, Deutsche Bank and JPMorgan as
global coordinators for the sale of around 14% stake in postal
service. Barclays, BNP Paribas, Morgan Stanley, Société Generale
and UBS will act as bookrunners, it added.
    The share sale could be launched on Oct. 21, Il Sole 24 Ore
reported on Saturday. 
    
    JUVENTUS  JUVE.MI 
    French soccer player Paul Pogba's doping suspension has been
cut to 18 months from an initial four years, the Court of
Arbitration for Sport (CAS) said on Friday. "The suspension is
now 18 months, starting Sept. 11, 2023," CAS director general
Matthieu Reeb told Reuters.
    Juventus conceded their first Serie A goal this season as a
late Razvan Marin penalty snatched a 1-1 draw for visitors
Cagliari on Sunday.    
    
    LAZIO  LAZI.MI 
    The club beat Empoli 2-1 at home on Sunday 
        
    RELATECH  RLT.MI 
    Gemini BidCo Srl starts full mandatory takeover bid on
Relatech ordinary shares; ends on Oct. 25.
    
    SALCEF GROUP  SCFG.MI 
    Saldib SpA starts full mandatory takeover bid on Salcef
Group ordinary shares; ends on Nov. 8.
    
    DIARY
    Economy Minister Giancarlo Giorgetti attends Eurogroup
meeting in Luxembourg.
    Rome, representatives from Bank of Italy (1400 GMT), state
auditor (1445 GMT); ISTAT (1530 GMT); Parliamentary Budget
Office (UPB) (1615 GMT) address Senate and Chamber of Deputies
Budget committees on the budget plan.
    
    ((Milan newsroom, e-mail: reutersitaly@thomsonreuters.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/