Italy - Factors to watch on June 23

Saipem SpA

Today 05:00

The following factors could affect Italian markets on Tuesday.

        Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
        
DEBT
The Italian Treasury said on Monday it would sell €6 billion  ($6.86 billion) of BOT bills at a June 25 auction.

(*) ECONOMY 
The introduction of a €2 euro tax on small packages of goods from non-EU countries will be postponed from July 1 to October 1, Italy's government said in a statement on Monday.

COMPANIES  
(*) STELLANTIS STLAM.MI
     Demand for electrified cars continued to underpin growth in Europe's auto market in May, offsetting a sharp decline in petrol and diesel sales and allowing Chinese brands to expand their footprint, data from the European Automobile Manufacturers’ Association (ACEA) showed on Tuesday.
Registrations at Renault RENA.PA , Stellantis and Volkswagen VOWG_p.DE slipped between 1% and 3%, reflecting intensifying competition.
Volvo Cars and Stellantis have warned that European carmakers face higher costs and smaller markets if Brussels pushes too far in its drive to reduce the bloc’s reliance on US technology, the FT reported on Tuesday.
Canadian auto union Unifor began negotiations with Ford Motor F.N on Monday, commencing talks on new contracts with the so-called Detroit Three of Ford, General Motors GM.N and Stellantis to try to improve pay, job security and benefits for its nearly 19,000 members at those companies.
            
ITALGAS IG.MI
Europe's largest gas distributor said on Tuesday it would invest €13 billion ($14.85 billion) through 2032 as it steps up the use of artificial intelligence and expands its activities into new areas across Italy.
The group will present its 2026-2032 industrial plan at 0800 GMT, followed by press conference.

ENI ENI.MI, SAIPEM SPMI.MI
Azule Energy, a joint venture between the Italian energy group, BP BP.L and several other partners, has approved the $5.1 billion Greater PAJ offshore oil project in Angola, company and government officials said at a signing ceremony on Monday.
Italian oilfield services company Saipem said it had won a $1 bln contract on the project.

PRYSMIAN PRY.MI
The world's largest cablemaker said on Monday it had won a €910 million framework contract with the Greek electricity operator IPTO for the development of electrical interconnections for the Greek Dodecanese and North Aegean islands. 
Separately, the company also said it had received notice to proceed with a €460 contract on the Italy-Tunisia ELMED power interconnection.

MONTE DEI PASCHI (MPS) BMPS.MI, MEDIOBANCA MDBI.MI
MPS said on Monday a merger project with Mediobanca was advancing as planned. Wealthier Mediobanca clients and Mediobanca's corporate and investment banking business, as well as its stake in insurer Generali, are to be grouped under a new MPS-owned Mediobanca unit, while Mediobanca's Premier financial advisers service will be combined with MPS' online banking unit Widiba. 

(*) INTESA SANPAOLO ISP.MI
The bank will submit the documentation relating to its €30.6 billion bid for Monte dei Paschi to the relevant authorities on June 26, daily MF reported on Tuesday.

(*) UNICREDIT CRDI.MI
The Italian lender has announced on Tuesday the early redemption on July 22 of €1,25 billion fixed to floating rate callable non-preferred senior bonds due 22 July 2027.
     
(*) AEFFE AEF.MI 
The fashion group said that while talks with turnaround specialist Oxy Capital are still ongoing, it has received some non-binding offers for the purchase of its unit Pollini and it has indentified one of particular interest from an industrial operatore that is mainly active in the Asian market. 
         
(*) B.F. BFG.MI
The farming group said on Monday Italy's government had decided not to exercise its golden powers over the takeover bid launched on the company by its leading investors Arum and Dompé Holdings.
        
IPO, BENDING SPOONS
The Italian technology company that acquires and revamps software businesses, is seeking to raise as much as $1.62 billion in a U.S. initial public offering, according to two people familiar with the matter, in what would be one of the largest IPOs by a European company this year and a rare listing by a major software firm.

DIARY
Prime Minister Giorgia Meloni (1630 GMT), Economy Minister Giancarlo Giorgetti (1300 GMT), Foreign Minister Antonio Tajani (1015 GMT), Defence Minister Guido Crosetto (1230 GMT) and Energy Minister Gilberto Pichetto Fratin (1430 GMT) to be interviewed at an event organised by daily La Verita. 


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/



($1 = 0.8750 euros)