Italy - Factors to watch on Jan. 22

Vianini SpA

22/01/2024 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 .
    
    POLITICS
    In a meeting on Saturday, Italian Prime Minister Giorgia
Meloni and Turkey's President Tayyip Erdogan discussed a
memorandum of understanding on migration that could be signed
soon to reduce migrant departures from Libya and the creation of
a corridor for Ukrainian grain exports, according to Italian
newspapers. 
    
    ECONOMY
    "It is obvious that euro zone is entering into a recession,"
Italian Economy Minister Giancarlo Giorgetti was quoted as
saying in Davos by the Corriere della Sera daily on Saturday.
    Italy's GDP growth may have been "better than expected" at
the end of 2023, the CSC research unit of the Confindustria
business lobby said on Saturday, warning however of "new risks"
from trade route disruptions in the Red Sea.     
    The Italian government is discussing the rescue of the
former Ilva steelworks, currently controlled by ArcelorMittal
 MT.LU , with "more than three or four" international players,
Industry Minister Adolfo Urso was quoted as saying by Italian
media. Italian media named on Saturday Arvedi, Vulcan Green
Steel, Metinvest, Acciaierie Venete and Marcegaglia as possible
investors. 
    ArcelorMittal sent a letter to Italy's Prime Minister
Giorgia Meloni saying that it wanted to find a friendly solution
for the former Ilva steelworks and was ready to stay on
temporarily as minority strategic partner before a full exit,
Italian newspapers reported on Sunday.      
    Saudi Arabia wants to increase its investments in Italy
Finance Minister Mohammed Al-Jadaan said in an interview
published on Saturday by Corriere della Sera newspaper, citing
tech and "new industrial sectors" as targets.
    
    DEBT
    Treasury announces sale of BTP Short and BTPei bonds, with
relative amounts to be auctioned on Jan. 25.
    
    COMPANIES
    POSTE ITALIANE  PST.MI  
    Italy's government is considering selling a stake of 10-20%
in the postal service, possibly via an accelerated book-building
like it did with Monte dei Paschi di Siena  BMPS.MI , La
Repubblica daily said on Saturday.
    It added that the operation would unlikely be carried out
before Poste unveils its 2023 results and new industrial plan on
March 20. 
    
    LEONARDO  LDOF.MI 
    Britain's Ministry of Defence said on Sunday it would spend
405 million pounds ($514 million) to upgrade a missile system
now being used by the Royal Navy to shoot down hostile drones
over the Red Sea. The contracts were awarded to the British
division of MBDA, a missiles joint venture owned by Airbus
 AIR.PA , BAE Systems  BAES.L  and Leonardo, the ministry said.
    In a meeting on Saturday Italian Prime Minister Giorgia
Meloni and Turkey's President Tayyip Erdogan discussed possible
deals in the defence sector between the two countries which
could involve Leonardo, the Italian newspapers reported on
Sunday. 
    
    STELLANTIS  STLAM.MI  
    The Franco-Italian company must avoid being drawn into a
price war "bloodbath" that would destroy profitability and might
eventually make many automakers takeover targets, CEO Carlos
Tavares said on Friday.    
    Italy needs a second automotive group based in the country
beyond Stellantis to support the national auto components
sector, Industry Minister Adolfo Urso said on Saturday, adding
that the government must work to this end.
    
    MONCLER  MONC.MI 
    Singapore state investor Temasek will become a direct
shareholder in the luxury group after ending an investment
agreement with CEO Remo Ruffini's holding company Double R, a
statement said on Sunday. Currently Temasek, through Venezio
Investments Pte, has a 16.8% stake in Double R which holds a
23.7% stake in Moncler. 
    
    SNAM  SRG.MI  
    Britain's National Gas and Spain's Enagas  ENAG.MC  have
expressed an interest in buying Snam's 23.7% stake in
Interconnector, the company that owns the gas pipeline between
Belgium and Britain, Corriere della Sera daily reported on
Saturday. 
    Snam's stake could be valued at more than 100 million euros,
it added.
    
    WEBUILD  WBD.MI 
    The group, in a joint venture with Fomento de Construcciones
y Contratas Canada (FCC Canada)  FCC.MC , has signed a contract
for an estimated total value between 0.7 billion euros and 1.3
billion euros to develop and build the 'Pape Tunnel and
Underground Stations (PTUS)' section of the Ontario Line.
    
    IREN  IREE.MI  
    The Italian multi-utility has won 160,000 new customers in
tenders organised as part of Italy's phasing out of regulated
prices for electricity, Chairman Luca Dal Fabbro said in an
interview with Saturday's Milano Finanza. 
    Dal Fabbro also said the company is looking at waste
incinerators and renewables for possible M&A deals in northern
Italy, and has frozen negotiations with BlackRock  BLK.N  on a
possible sale of its gas network assets. 
   
    ACEA  ACE.MI  
    The Italian regional utility has "lots of room to grow" both
in Italy and abroad and is "looking at possible markets," CEO
Fabrizio Palermo said in an interview with La Repubblica daily
published in Saturday.
    Palermo also said his company has a good project and strong
partners to win the contract to build a new waste incinerator in
Rome, along with Hitachi  6501.T , Suez and Vianini  VINI.MI . 
    
    JUVENTUS  JUVE.MI 
    Reverse stock split on ordinary shares.
    
    SERVIZI ITALIA  SERIT.MI  
    Italy's Bourse said on Friday that take-up in Cometa's full
voluntary takeover bid for Servizi Italia reached 64.147% of
tendered shares at the end of the offer period.
    
    ULISSE BIOMED  UBM.MI 
    Ends capital increase.
    
    DIARY
    Rome, Chamber of Deputies meets on ratification of
Italy-Albania Protocol (1100 GMT).
    Milan, Mediobanca  MDBI.MI  presents report "It's all about
it" on digitization of small- and medium-sized Italian companies
(1300 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/