Italy - Factors to watch on June 4

Toscana Aeroporti SpA

04/06/2018 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 .
    
    POLITICS
    Giuseppe Conte was sworn in on Friday as Italy's prime
minister, heading western Europe's first anti-establishment
government bent on overhauling European Union rules on budgets
and immigration. urn:newsml:reuters.com:*:nL5N1T33YU
    S&P Global Ratings said on Friday that the formation of the
new government in Italy should have no immediate effect on its
sovereign credit ratings on the country.
    There is no threat of a new sovereign debt crisis in the
euro zone despite an anti-establishment coalition government
taking power in Italy, European Commission President Jean-Claude
Juncker said in remarks published on Saturday. urn:newsml:reuters.com:*:nL2N1T323I
    Germany's Angela Merkel has offered her most detailed
response to French President Emmanuel Macron's ideas for
reforming Europe, seeking to avert a damaging rift with Paris at
a time of high anxiety over Italy and growing transatlantic
tensions. urn:newsml:reuters.com:*:nL5N1T50F1
    
    ECONOMICS
    Italy posted a state sector budget deficit of around 7.9
billion euros in May, increasing slightly from a deficit of
7.568 billion euros in the same month last year, the Treasury
said on Friday.  urn:newsml:reuters.com:*:nR1N1M602M
    Italy's new Economy Minister Giovanni Tria said on Friday
that none of the country's parties wanted to leave the euro zone
and neither did he.  urn:newsml:reuters.com:*:nR1N1M602L
    Credit rating agency S&P said on Friday that the formation
of the new government in Italy should have no immediate effect
on its sovereign credit ratings on Italy (BBB/Stable/A-2).
    Italy's new anti-establishment government will change the
labour reform introduced by the previous administration, Labour
and Industry Minister Luigi di Maio said. urn:newsml:reuters.com:*:nL5N1T50EZ
    
    DEBT
    German Chancellor Angela Merkel has ruled out debt relief
for Italy, saying in a newspaper interview published on Sunday
that the principle of solidarity among euro zone member states
should not turn the single currency bloc into a debt-sharing
union. urn:newsml:reuters.com:*:nL5N1T40LC
    
    COMPANIES
    
    UNICREDIT  CRDI.MI 
    Italy's biggest bank, UniCredit, is exploring a merger with
France's Societe Generale in a move that would see the European
banks leading the way for banking mergers on the continent, the
FT said on Sunday. urn:newsml:reuters.com:*:nL3N1T50H6
    
    FIAT CHRYSLER  FCHA.MI 
    The car maker departing Chief Executive Sergio Marchionne
delivered a plan on Friday to ramp up sport utility vehicles and
invest 9 billion euros ($10.5 billion) in electric and hybrid
cars in a bid to double operating profit by 2022.  urn:newsml:reuters.com:*:nL5N1T31MQ
    Fiat Chrysler (FCA) wants to set up its own car financing
business in the United States under a new five-year plan and is
in talks with Santander Consumer USA  SC.N  to buy its share in
their joint venture.  urn:newsml:reuters.com:*:nL5N1T356S
    Italian car sales fell 2.78 percent in May, according to
data released by the country's Transport Ministry. Fiat
Chrysler's share of the Italian car market stood at 27.77
percent the same month according to Reuters calculations.
 urn:newsml:reuters.com:*:nI6N1SN00V
    Fiat Chrysler said on Friday its U.S. sales in May climbed
11 percent to 214,294, on the strength of retail deliveries to
individual customers. urn:newsml:reuters.com:*:nL2N1T30M0
    BREAKINGVIEWS -Fiat Chrysler shareholders have waved the
yellow flag on Sergio Marchionne's victory lap. urn:newsml:reuters.com:*:nL2N1T31CL
   
    SAIPEM  SPMI.MI 
    The company is said to have won a pipeline contract from
Qatargas worth more than $1 billion related to the Barzan gas
project, according to Il Sole 24 Ore on Saturday.  
    
    BANCA MONTE DEI PASCHI DI SIENA  BMPS.MI 
    The lender is preparing to sell around 2 billion euro worth
of unsecured loans, Il Sole 24 Ore said on Sunday. Work on the
transaction was launched in the last few weeks and the sale will
kick-off in September, the paper added. 
    
    GENERALI  GASI.MI , POSTE ITALIANE  PST.MI , UNIPOLSAI
 US.MI 
    Offers for the Post Office's plans to distribute car
insurance are expected in the coming days, MF said on Saturday.
Unipol, Generali and some foreign players have shown interest,
while Cattolica and Reale Mutua have decided to not take part in
the process, the paper added. 
    
    PRYSMIAN  PRY.MI  
    The closing of Prysmian's acquisition of General Cable is
expected to occur on June 6, the two companies said in a
statement. 
    
    ANSALDO STS  STS.MI 
    Swiss bank UBS had a potential holding of 7.232 percent in
Italy's Ansaldo STS as of May 23, a filing published by Italy's
market watchdog showed on Friday.  urn:newsml:reuters.com:*:nI6N1SN00W
     
    ARCA ASSET MANAGER
    The sale of the combined 40 percent stake in Arca held by
Popolare di Vicenza and Veneto Banca, the two Veneto banks under
liquidation, has officially kicked off and expressions of
interest are due June 12, La Repubblica and Il Sole 24 Ore said
on Saturday. Binding bids are due July 10. BPER and Banca
Popolare di Sondrio are seen in pole position to acquire the
stake, the papers added, although the sale could turn out
otherwise. 
       
    Trade ex-dividend: BioDue  BIO2.MI  of 0.06 euro per share;
Emak  EM.MI  of 0.035 euro per share; Tecnoinvestimenti
 TECNO.MI  of 0.14 euro per share; Toscana Aeroporti  TYA.MI  of
0.531 euro per share.

    ((Milan newsroom, +39 02 6612 9507, fax +39 02 801149, 
milan.newsroom@news.reuters.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/