Italy - Factors to watch on April 8
08/04/2024 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 .
ECONOMY
The European Commission is likely to stick to its current
forecast of a 0.7% growth for the Italian economy in 2024 when
it publishes a new set of economic projections in June, EU
Commissioner for Economy Paolo Gentiloni said on Friday.
Bank of Italy releases March data on Target 2 liabilities
and European Central Bank funding to Italian banks.
Italy is set to pick state lender Cassa Depositi e Prestiti
(CDP) and asset manager Invimit to run a fund it is setting up
to support the country's key supply chains, a source familiar
with the matter said. CDP will co-manage the upcoming vehicle
through its majority-owned Italian Investment Fund, the source
added.
DEBT
Italy does not expect its debt to top 140% of gross domestic
product (GDP) this year despite higher than forecast spending
for home renovation incentives, a junior minister said ahead of
a new set of government economic projections.
The Italian Treasury said on Friday it will offer 8 billion
euros in 12-month BOT bills at auction on April 10.
Treasury announces sale of BTP bonds, with relative amounts
to be auctioned on April 11.
COMPANIES
UNICREDIT CRDI.MI
The Italian bank's ongoing presence in Russia exposes it to
reputational risks, leading governance adviser Glass Lewis said
in a controversy alert published on Friday. The lender's
shareholders meet on April 12 to approve full year results and
hand Chief Executive Andrea Orcel another three-year mandate.
Glass Lewis also urged shareholders to reject a proposed
increase in Orcel's pay.
TELECOM ITALIA TLIT.MI
Minority investor Merlyn hopes to win support from leading
shareholder Vivendi VIV.PA at this month's AGM after it
proposed replacing TIM CEO Pietro Labriola and pursuing a
different strategy than the one put forward by the CEO, Merlyn's
chairman candidate Umberto Paolucci, a former Microsoft
executive, told la Repubblica in an interview on Saturday.
Paolucci also said the terms of a deal, worth up to 22
billion euros, to sell TIM's fixed network to KKR KKR.N needed
to be improved.
In a letter to other TIM investors ahead of a shareholder
vote to renew TIM's board, Merlyn said the plan presented by the
outgoing board was not financially sustainable and could trigger
a capital increase in the event of prolonged delays in
completing the sale of the TIM's fixed network to KKR.
POSTE ITALIANE PST.MI
The Italian postal service has started working on the
official documents for the public share offer that is set to cut
the state's stake and bring in privatisation revenues, Corriere
della Sera reported on Saturday.
ENI ENI.MI
Carbon transport and storage could cost less than 80 euros a
metric ton on average in the coming years, the group's Chief
Operation Officer for Natural Resources told The New York Times
on Friday.
LAZIO LAZI.MI
AS Roma beat Lazio 1-0 in the Rome derby on Saturday.
UNIPOL GROUP UNPI.MI
Starts full voluntary takeover bid on UnipolSai US.MI
shares; ends on April 26.
YOLO GROUP YOLO.MI
Starts capital increase, ends on April 24.
DIARY
Industry Minister Adolfo Urso takes part in talks with
French Economy Minister Bruno Le Maire and German Economy and
Climate Minister Robert Habeck on industrial policy, ecological
transition and green technologies in Paris.
Rome, UniCredit CRDI.MI Chairman Pier Carlo Padoan attends
report presentation "Financing Investment at Times of High
Public Debt: 2023 European Public Investment Outlook" at event
"European Policies and Institutions to Face the Challenges of
the Transition" (1430 GMT).
Milan, annual conference "Private capital, between wealth
and development" (0730 GMT); expected attendees include joint
stock companies association Assonime Director General Stefano
Firpo, Generali GASI.MI Chairman Andrea Sironi, Milan Stock
Exchange CEO Fabrizio Testa, Lottomatica LTMC.MI CEO Guglielmo
Angelozzi, Bank of Italy Deputy Governor Alessandra Perrazzelli,
Economy Ministry representative Marcello Sala.
Milan, state owned lender Cassa Depositi e Prestiti (CDP)
unit CDP Venture Capital SGR holds news conference to present
2024-2028 industrial plan "Shaping future" (1230 GMT).
Bologna, E-Cells Lab holds inauguration ceremony with
Ferrari RACE.MI CEO Benedetto Vigna (0830 GMT); followed by
visit to the laboratory (0930 GMT) and press point.
Portici, Infrastructure and Transport Minister Matteo
Salvini attends presentation of infrastructure projects for the
Country "L'Italia dei Sì 2023-2032 - Projects and major works in
Italy" (1300 GMT).
Trieste, Economy Minister Giancarlo Giorgetti attends event
"Selecting Italy – Foreign investment attraction and regional
value chains" (0930 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/