Italy - Factors to watch on May 23

Sanlorenzo SpA

23/05/2022 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
    The European Commission will recommend that Italy cuts taxes
on incomes and labour and presses ahead with a planned review of
real estate values, to curb current spending growth and
gradually reduce debt, daily La Repubblica said on Sunday ahead
of the release on Monday of the Commission's country-specific
recommendations. Brussels is also urging Rome to quickly
implement reforms and investments envisaged in the country's
recovery fund, the report added.
    Toll-road operator SDP, owned by the Toto family, has
formally requested an early termination of its motorway
concession, asking the government for a 2.4 billion euro
contractual compensation, daily Il Sole 24 Ore said on Saturday.
    
    DEBT
    Treasury announces sale of BTP Short and BTPei bonds, with
relative amounts to be auctioned on May 26.
    
    COMPANIES
    MONTE DEI PASCHI DI SIENA  BMPS.MI 
    Italy expects to cap the state-owned lender's cash needs at
around 2.5 billion euros as it negotiates with European Union
authorities a new strategic plan for the bank that will be
unveiled next month, four sources said.  urn:newsml:reuters.com:*:nL5N2X93LM
    
    ENI  ENI.MI 
    The Italian energy group plans to spend at least 2.5 billion
euros in Britain over the next four years as London demands oil
and gas companies to significantly increase their investment in
the country's energy system or face a windfall tax on their
soaring profits, the Financial Times said on Sunday.
 urn:newsml:reuters.com:*:nL3N2XE088
    
    TELECOM ITALIA (TIM)  TLIT.MI 
    The Italian phone group is eyeing a preliminary agreement
with state lender CDP over a long-held plan to merge TIM's
network assets with those of state-backed rival Open Fiber as
early as next week, two sources said on Friday.  urn:newsml:reuters.com:*:nL5N2X94Z3
    
    BPER BANCA  EMII.MI 
    Elliott-backed Italian bad loan specialist Gardant has
teamed up with state-owned rival AMCO in the race to secure the
bad loan business put up for sale by Italy's fifth-largest bank,
three sources with knowledge of the matter said. Bids for BPER's
bad loan recovery unit and a bad loan portfolio the bank will
offload with the management unit are due in a couple of weeks,
one of the sources said. A separate source said the portfolio
could be of a total size of 2.5 billion euros.  urn:newsml:reuters.com:*:nL5N2XC4CR
    
    SAIPEM  SPMI.MI 
    Starts its reverse stock split; ends on May 27.
    
    SHARES TRADING EX-DIVIDEND
    Shares trading ex-dividend on Monday are expected to push
lower Milan's blue-chip index  .FTMIB  by around 1.45%, traders
have said.  urn:newsml:reuters.com:*:nS8N2W50BU
    Over 50 companies will trade ex-dividend on Monday,
including 19 from the main index such as infrastructure group
Atlantia  ATL.MI , energy giant Eni  ENI.MI , insurer Generali
 GASI.MI  and Italy's top lender Intesa Sanpaolo  ISP.MI .      
    
    DIARY
    Industry Minister Giancarlo Giorgetti visits Fincantieri
 FCT.MI  shipyards in Monfalcone (0735 GMT) and Danieli
 DANI.MI  ABS factory in Cargnacco (0915 GMT).
    Milan, presentation of "2022 Champions companies. Italy
generating a future" research, with Milan Stock Exchange CEO
Fabrizio Testa, Innovation Minister Vittorio Colao, Credit
Agricole  CAGR.PA  Italy's Head Giampiero Maioli, Webuild
 WBD.MI  CEO Pietro Salini, Sanlorenzo  SNL.MI  CEO Massimo
Perotti, RCS Mediagroup  RCSM.MI  Chairman Urbano Cairo (0800
GMT).
    Transport Minister Enrico Giovannini holds press conference
to present infrastructure and mobility policy guidelines (1000
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/