Italy - Factors to watch on September 24
24/09/2024 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 .
ECONOMY
Italy's economic growth last year was weaker than previously
estimated, national statistics bureau ISTAT reported on Monday,
but more positively for the government, the budget deficit and
public debt as a proportion of output were also revised down.
DEBT
Treasury announces sale of BTP and CCTeu bonds, with
relative amounts to be auctioned on Sept. 27.
COMPANIES
UNICREDIT CRDI.MI
German Chancellor Olaf Scholz slammed as "an unfriendly
attack" a move by UniCredit to become the biggest investor in
rival Commerzbank CBKG.DE with a potential 21% stake, in a
sign of growing hostility towards the Italian bank. A source
familiar with the matter told Reuters Barclays helped the
Italian lender build its stake in the German rival with
derivatives.
STELLANTIS STLAM.MI
The automaker is searching for CEO Carlos Tavares'
successor, the company said Monday, after the company's chief
financial officer laid out a plan to strengthen North America
operations by slashing its bloated inventories and cutting
vehicle prices. The company said it was normal for Stellantis to
initiate a search for Tavares' replacement in anticipation of
his contract expiring in January 2026, and that it is still
possible Tavares will stay after that date.
AUTOS
Italy will file an official proposal this week to bring
forward to next year a planned European Union review of the
bloc's ban on the sale of new internal combustion engine cars
from 2035, Industry Minister Adolfo Urso said on Monday.
ENI ENI.MI
The Italian energy group considers Libya a key country for
upstream activities and plans to start exploration in the
Ghadames basin next year, its head of North Africa and Levant
said on Monday.
LEONARDO LDOF.MI
BlackRock BLK.N , the world's biggest asset manager, has
secured Italian government approval to hold a stake of more than
3% in the defence and aerospace group, a government document
showed on Monday.
The Italian defence and aerospace group said on Monday it
increased its stake to 65% and finalised taking control of
navigation systems maker GEM Elettronica, through a
16-million-euro investment.
TENARIS TENR.MI
'Investor Presentation' in London (1100 GMT).
TELECOMS
The Italian broadband network operator Fibercop, in which
KKR KKR.N is a leading investor, plans to cut its workforce by
1,300 through a voluntary early retirement scheme, two sources
with knowledge of the matter told Reuters.
DIARY
Prime Minister Giorgia Meloni and Foreign Minister
Antonio Tajani attend U.N. 79th high-level debate in New York
(to Sept. 24).
Rome, Terna TRN.MI holds news conference to present
award ceremony and exhibition opening '2024 Driving Energy
Award' "The way of the invisible" with Chairman Igor De Biasio,
CEO Giuseppina Di Foggia (0900 GMT).
Rome, think-tank Nomisma presents report on credit cards and
digital payments (0830 GMT); Economy Undersecretary Federico
Freni delivers welcome address.
Rome, Bank of Italy Deputy Governor Luigi Federico Signorini
delivers introductory remarks at workshop "Building a quantum
safe financial system: what role for authorities and for the
private sector?" (0645 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/