Italy - Factors to watch on May 2

Sanlorenzo SpA

02/05/2023 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 (*).
    
    For a complete list of diary events in Italy please click on
 IT/DIA .
    
    POLITICS
    Italy's right-wing government on Monday approved measures to
boost jobs and workers' pay, amid hostile reactions from unions
and opposition parties over accompanying welfare cuts and looser
rules on short-term job contracts.
    
    Economy Minister Giancarlo Giorgetti told the Il Sole 24 Ore
newspaper on Saturday that there is room for negotiation with EU
partners both over the reforms of EU budget rules and of the
eurozone bailout fund.
    
    ECONOMY
    April PMI manufacturing S&P Global data (0745 GMT).
    ISTAT releases March non-EU foreign trade data (0800 GMT)
and April CPI flash data (0900 GMT); March producer prices data
(1000 GMT).
    Transport Ministry releases April car sales data (1600 GMT).
    April state sector borrowing requirement data.
    ECB releases March data on Italian banks domestic government
bond holdings.
    
    COMPANIES
    
    BANKS
    Italy is working on a windfall tax on its banks to fund
relief measures for families hit by rising inflation, a
government source said. The Treasury intends to implement the
scheme in the next few weeks, the source added.
    
    ENEL  ENEI.MI 
    Proxy adviser Frontis Governance has urged shareholders in
Enel to back a list of candidates for the new board promoted by
the hedge fund Covalis and reject names put forward by the
Treasury, a report seen by Reuters showed. Frontis Governance
advises Switzerland's Ethos, a group of pension funds and other
investors.
    
    Outgoing CEO Francesco Starace told Il Sole 24 Ore newspaper
on Sunday he would be ready to stay on a temporary basis to help
the transition towards a new management, regardless of whether
Covalis' or the Italian Treasury's board candidates prevail. He
reiterated he would not be available for another term as CEO. 
    
    ENI  ENI.MI  
    The CEO of the Italian oil and gas company, Claudio
Descalzi, said in an interview with the La Stampa newspaper on
Saturday he does not expect any "big shocks" on the energy
markets this year. 
    
    Libya’s state National Oil Corporation (NOC) said in a
statement on Sunday that the Mellitah Oil and Gas complex, a
joint venture with Italy's Eni, will halt work as of May 1 for
maintenance work expected to last about three weeks. 
    
    TELECOM ITALIA (TIM)  TLIT.MI  
    CEO Pietro Labriola is expected to propose to directors to
seek further improvements of multi-billion bids for the
company's landline grid at a board meeting on May 4, two sources
familiar with the matter said on Friday.
    
    Italy's telecoms authority AGCOM has received a green light
from the European Commission to raise wholesale prices for
access to TIM's landline grid, a person close to the matter said
on Friday.
    
    NEXI  NEXII.MI 
    Italian banks, payments firms and retailers meet on Tuesday
in a renewed push to clinch a deal to cut fees on small
electronic transactions, with shop owners pushing to set a 0.6%
fee cap on payments worth up to 30 euros, people familiar with
the matter said.
    
    LEONARDO  LDOF.MI  
    The Italian defence group said on Monday it finalised the
sale of the air traffic management business of its U.S.
subsidiary Selex EX to Indra Air Traffic, a company controlled
by Spain's Indra Sistemas  IDR.MC .
    The deal was originally announced in November.          
    
    SANLORENZO  SNL.MI  
    The Italian luxury yacht maker said on Friday it signed a
binding offer to buy a further 33% stake in high-end furniture
maker Duerre, securing overall control of the company. The
closing is expected in the coming days, it added.
    
    RAI WAY  RWAY.MI  
    The TV and radio signal company said on Friday it had
appointed Roberto Cecatto as its new chief executive officer and
general manager. 
    
    ENAV  ENAV.MI  
    The Italian air traffic management company said on Friday it
had appointed Pasqualino Monti as its new chief executive
officer.  
         
    AMPLIFON  AMPF.MI 
    Board meeting on Q1 results, followed by conference call
(1200 GMT).
    
    CAMPARI GROUP  CPRI.MI 
    Board meeting on Q1 results, followed by conference call
(1100 GMT).
    
    UNICREDIT  CRDI.MI 
    Board meeting on Q1 results, press release on May 3.
    
    DIARY
    Rome, Italian Prime Minister Giorgia Meloni meets Austrian
Chancellor Karl Nehammer (1300 GMT)
        Rome, meeting on digital payments commissions (1200
GMT).
  
    Rome, The European House-Ambrosetti holds event
"Strengthening Saudi - Italian cooperation for a common and
sustainable development - Italy's economic overview" (0720 GMT);
expected attendees include at session "Sustainability,
hoard-to-debate sectors and circular economy" Danieli & C
 DANI.MI  Vice Executive President Andrea Diasparro (0930 GMT);
Economy Undersecretary Lucia Albano.
    
    ((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/