Italy - Factors to watch on Dec. 16

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16/12/2024 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 .
    
    POLITICS
    Italy's Prime Minister Giorgia Meloni said on Sunday she
would lead the government responsibly until the end of its
mandate as parliament debates a budget aimed at supporting the
euro zone's third-largest economy while trimming its debt.
        
    ECONOMY
    Italy scales back plans to raise taxes on capital gains from
cryptocurrency such as bitcoin to 42% from 26%. The government
will leave the tax rate unchanged at 26% next year and will
raise it to 33% in 2026 and following years, an amendment to
Rome's 2025 budget showed.
    Italy will focus its domestic web tax on big tech companies
while shunning small and medium-sized enterprises (SMEs) and
publishing groups.
    The Italian economy will expand by 0.7% both this year and
next, the country's central bank said on Friday, cutting
estimates made in October as the monthly flow of data continues
to weaken.
    Bank of Italy releases October data on public finances,
state borrowing and debt.
    ISTAT releases November CPI final data (1000 GMT)    
       
    COMPANIES
    
    BANKS
    BANKS
    Italy will fund next year a cut of the IRES corporate tax
for firms that hire and invest under certain conditions through
an additional contribution from its banks, by allowing fewer
deductions from taxable income, which results in a higher tax
bill for lenders. The measure is worth some 500 million euros.
    Rome's 2025 budget already contains measures to raise more
than 5 billion euros from banks and insurers over the next three
years.
    
    LEONARDO  LDOF.MI 
    Britain, Italy and Japan will set up a joint company to
develop, design and build an advanced stealth jet, they said on
Friday. The new company, in which Britain's BAE Systems
 BAES.L , Leonardo  LDOF.MI  and Japan's Aircraft Industrial
Enhancement (JAIEC) will each hold a 33.3% share, will be
headquartered in Britain, while its first CEO will be from
Italy.
    
    In an interview with La Repubblica on Sunday, CEO Roberto
Cingolani said he was open to considering future collaborations
with Elon Musk's US satellite telecommunications group.
    "For now Starlink is our supplier: it is absolutely normal
for us to buy bandwidth from different satellite constellations.
Obviously in the future I do not exclude other collaborations,"
Cingolani said.    
    
    INWIT  INWT.MI , REPLY  REY.MI 
    INWIT will be included in the Euronext's MIB ESG Index as of
Dec. 23 replacing Reply, Euronext says on Friday. 
    
    A2A  A2.MI , ASCOPIAVE  ASCI.MI 
    The two domestic utilities said on Friday that they had
agreed to extend the exclusive negotiation period for the sale
of an asset portfolio of around 490,000 gas distribution points
in Lombardy to Dec. 24 from Dec. 15.
    
    BANCO BPM  BAMI.MI 
    The agreement to be reached on Monday between the institute
headed by Giuseppe Castagna and the workers' representatives
envisages around 1,000 new hires, La Repubblica reported on
Sunday.
    
    STELLANTIS  STLAM.MI 
    Italy expects to be a central part of Stellantis' future
strategy and wants the Fiat automaker to safeguard the factories
on its territory, Industry Minister Adolfo Urso said on
Saturday.
    
    The Italian government is willing to work with Stellantis on
the carmaker's future strategy provided it keeps jobs and
factories in the country, Prime Minister Giorgia Meloni said on
Sunday.
    
    The government scales back plans to cut by some 4.6 billion
euros the funds set aside to support the country's automotive
industry between 2025 and 2030, by reinstating 200 million euros
per year in 2026 and 2027, an amendment to Rome's 2025 budget
showed.
    
    
    ((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/