Italy - Factors to watch on April 5

Rothschild & Co SCA

05/04/2023 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 .
    
    ECONOMY
    Italy wants to allow companies planning to list to issue
special shares that give existing investors a right to cast up
to 10 votes at shareholder meetings for each share owned,
surpassing the current limit of three votes, Treasury
undersecretary Federico Freni said.
    
    March services PMI S&P Global data (0745 GMT).
    ISTAT releases Q4 deficit/GDP ratio data (0800) and    
February retail sales data (0900 GMT).
    OECD releases March composite leading indicator data (1000
GMT).
    
    DEBT
    Treasury announces sale of 12-month BOT bills, with relative
amounts to be auctioned on April 12.
    
    ENERGY
    Italy's regulated household price for gas consumed in March
will fall by 13.4% compared to the previous month, the country's
energy authority ARERA said in a statement on Tuesday.
    
    COMPANIES
    STELLANTIS  STLAM.MI  
    Stellantis and BMW  BMWG.DE  are in talks with Panasonic
Holdings  6752.T  about teaming up to build electric vehicle
battery plants in North America, the Wall Street Journal
reported on Tuesday, citing people familiar with the talks.
    Proxy advisory firm Institutional Shareholder Services (ISS)
is recommending a vote in favour of Stellantis Chief Executive
Carlos Tavares' remuneration after he took a pay cut and
shareholders rejected last year's compensation package.
    
    INTESA SANPAOLO  ISP.MI 
    Italy's biggest bank plans to expand the market share of the
11 banks it controls in central Eastern Europe and Egypt, while
external growth abroad appears less likely, the head of the
foreign subsidiaries' division Marco Elio Rottigni said on
Tuesday.
    
    PIRELLI  PIRC.MI 
    Italy is studying ways to curtail the influence of China's
Sinochem on the Italian tyremaker, in the latest sign of rising
tension between China and Western countries over the control of
key technologies, Bloomberg reported on Tuesday.
    Board meeting on FY results (preliminary FY results released
on Feb. 22).
    
    DE NORA  DNR.MI  
    Italian gas grid operator Snam  SRG.MI  and the De Nora
family have launched an offer to jointly sell a 5% stake in the
electrode maker, Snam said on Tuesday.

    UNICREDIT  CRDI.MI  
    The Italian bank has hired Patrik Zeigherman from Nomura to
head advisory and capital markets in Germany, based in Munich
and reporting to Sam Kendall, head of advisory and capital
markets, according to an internal memo seen by IFR.
    
    EDISON  EDNn.MI 
    Annual general meeting (0900 GMT).
    
    
    DIARY
        Rome, Prime Minister Giorgia Meloni meets with Spanish
Prime Minister Pedro Sanchez (0930 GMT).
  
    Rome, Economy Minister Giancarlo Giorgetti at
Interministerial Committee for Digital Transition (1530 GMT).
    Rome, Chamber of Deputies holds question time session with
Industry Minister Adolfo Urso (1300 GMT).
    Rome, Bank of Italy Banking and Finance Supervision
Department Head Giuseppe Siani speaks before Parliamentary
Committee for the Security of the Republic (COPASIR) (1200 GMT).
    Rome, conference on agriculture industry with Industry 
Minister Adolfo Urso and Agriculture Minister Francesco
Lollobrigida (0800 GMT).
    Rome, American Chamber of Commerce in Italy holds conference
with Industry Minister Adolfo Urso (1430 GMT).
    Rome, event on "PNRR: challenges and opportunities" with
European Affairs, South, PNRR Minister Raffaele Fitto (0700
GMT).
    Milan, 2023 Merger & Acquisition Summit "Mergers and
acquisitions in Italy, major investors, areas of interest and
key players" in presence and online (0730 GMT); expected
attendees include at panel "Rate dynamics, debt pressure and
inflation. How will these affect future M&A market trends?"
Rothschild & Co Italian President Federico Ghizzoni (0745 GMT);
at panel "Private equity continues to be one of the drivers of
the M&A market. What are the future prospects for the sector and
what are the possible risk factors? The liquidity factor to the
advantage of funds" EuroGroup Laminations  EGLA.MI  CEO Marco
Arduini (0830 GMT); at panel "Focus on one of the new areas of
mergers and acquisitions. Football, entertainment and the
transfer of club ownership. How to create value with a club and
the media company model" with soccer team Milan President Paolo
Scaroni, Lazard  LAZAR.UL  Italian CEO Marco Samaja (0945 GMT).
    Milan, EY holds Sustainability Summit (1230 GMT); expected
attendees include Elica  ELC.MI  CFO Stefania Santarelli (1255
GMT).
    Catania, Economy Minister Giancarlo Giorgetti visits
STMicroelectronics plant (0700 GMT).
        L'Aquila, Prime Minister Giorgia Meloni attends mass in
memory of the 309 victims of the earthquake that devastated the
city 14 years ago (1600 GMT). 
  
    
    ((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/