Italy - Factors to watch on July 22
22/07/2025 07:24
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. DEBT The Treasury said on Monday it would sell up to 4.25 billion euros in short-term and inflation linked BTP bonds at an auction on Thursday. COMPANIES (*) UNICREDIT CRDI.MI Chief Executive Andrea Orcel is set to brief the board on Tuesday, called to approve results, with regards to the bank's offer for Banco BPM BAMI.MI, several Italian newspapers reported on Tuesday. The bid, which expires on Wednesday, may be left to expire before a new proposal will be made. According to Corriere della Sera and la Repubblica, Orcel could hold off on a revised offer until September, while MF said it could be done "in a matter of days". In a separate report, Il Messaggero said that market regulator Consob is scheduled to meet on Tuesday and Wednesday to assess a new potential suspension of the current offer. UniCredit may "soon" convert into shares its remaining 8% position in derivatives in Commerzbank, a move that would bring the Italian lender closer to the threshold triggering a buyout offer, MF reported on Tuesday. POSTE ITALIANE PST.MI (*) The State-controlled financial conglomerate is weighing a reorganisation that would place its financial and insurance operations under Bancoposta, enabling the use of the so-called Danish Ccmpromise, MF daily reported on Tuesday. Releases H1 results, followed by conference call (1300 GMT). (*) BPER BANCA EMII.MI JPMorgan JPM.N, which holds a potential 10.06% stake in BPER, could be acting on behalf of an Italian bank, MF reported, citing speculation indicating that the lender is UniCredit. In a separate report, Corriere della Sera, however, said Italy's second-largest lender is not involved. BPER BANCA, BANCA POPOLARE DI SONDRIO BPSI.MI BPER Banca full voluntary takeover bid on Banca Popolare di Sondrio shares continues; ends on July 25. BANCA POPOLARE DI SONDRIO The lender said on Monday that S&P Global Ratings upgraded its long-term issuer rating, raising it to 'BBB' from 'BBB-', and its outlook to 'stable' from 'positive'. (*)ENI ENI.MI Norwegian oil firm Vaar Energi VAR.OL, which is majority owned by the Italian energy group, on Tuesday reported a lower-than-expected operating profit for the second quarter, and said it plans to cut costs while maintaining full-year dividend payments of $1.2 billion this year and next. STELLANTIS STLAM.MI The carmaker expects more impact from U.S. tariffs on vehicles and auto part imports in the second half of 2025, it said on Monday as it reported a preliminary 2.3 billion euro ($2.7 billion) net loss for the first six months of the year. TENARIS TENR.MI, SAIPEM SPMI.MI TotalEnergies TTEF.PA has awarded Tenaris a contract to supply casing and tubing and Rig Direct® services for the GranMorgu project, off the coast of Suriname, the Italian steel pipe maker said in a statement on Monday. In addition, Saipem, which secured an EPCI contract by TotalEnergies, selected Tenaris to provide the seamless line pipe and thermal insulation coatings package for the project, the statement added. AVIO AVI.MI The company has signed two orders worth 60 million euros with MBDA, a joint venture between Leonardo LDOF.MI, BAE Systems BAES.L, Airbus AIR.PA, in France, the Italian aerospace group said on Monday in a statement. DIARY Rome, Energy Services Manager (GSE) Environment and Energy Security (MASE) Ministry present documentary "The Possible Transition" with MASE Minister Gilberto Pichetto Fratin and GSE President Paolo Arrigoni (0800 GMT). Rome, Industry Ministry holds meeting on fashion sector (0930 GMT); Minister Adolfo Urso attends. Rome, Industry Minister Adolfo Urso attends event "Institutional investment in innovative start-ups" (1530 GMT). Rome, Labour Minister Marina Elvira Calderone attends public services association (FIPE) presentation of "Handbook on contractual dumping in the public services" (1300 GMT). Milan, Intesa Sanpaolo ISP.MI Chairman Gian Maria Gros-Pietro attends presentation of the survey on savings and financial choices of Italians 2025 "The Silver Age and savings: family welfare, protection and new horizons" (1230 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/