Italy - Factors to watch on February 29

Vincenzo Zucchi SpA

29/02/2016 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 
    Italian Prime Minister Matteo Renzi and European Commission 
President Jean-Claude Juncker met in Rome on Friday to try to 
mend recently tense relations, keeping any lingering differences 
under wraps at a news conference afterwards. urn:newsml:reuters.com:*:nL8N1654WW 
     
    ECONOMY 
    ISTAT releases February flash CPI and HICP data (1000 GMT). 
    Reuters releases January asset allocation poll (1200 GMT). 
     
    IPO 
    SIA  LAZ.N   
    Payment processing group SIA is rumoured to have chosen 
Lazard as global coordinator for its planned listing, but has 
not given a formal mandate, Il Sole 24 Ore reported. 
     
    VERSACE 
    The fashion house is getting ready for its planned market 
listing, Chief Executive Gian Giacomo Ferraris said on Saturday, 
according to Il Sole 24 Ore. 
    The company's board will meet at the end of March and in the 
meantime "we are preparing ourselves for the listing with 
serious discipline, and when the shareholders decide, we will 
respond 'Yes, we can'," Il Sole quoted Ferraris as saying.  
         
    BANKS 
    BANCA POPOLARE DI MILANO  PMII.MI , BANCO POPOLARE  BAPO.MI  
    Advisers for both banks were working over the weekend on 
revised proposals to send to the European Central Bank (ECB) 
after the regulator questioned aspects of their merger plan, Il 
Sole 24 Ore reported. The eventual merger could be announced 
later than the most recent deadline of March 6, Il Sole said.  
    Talks on the planned merger have stalled, and the banks 
might need to have another meeting with the ECB, which could ask 
them to raise their Texas ratio of capital to bad loans, Il 
Messaggero reported.   
    To approve the merger, the ECB might ask the banks to 
offload their bad loans in 24-30 months rather than the five or 
six years originally foreseen, Il Giornale reported.  
     
    UNICREDIT  CRDI.MI  
    Unicredit has decided not to use a state guarantee scheme to 
help banks offload bad debt "for now", the head of the bank's 
Italian operations, Gabriele Piccini, told Il Messaggero. He 
described the scheme as "an opportunity".   
     
    COMPANIES 
    FIAT CHRYSLIER AUTOMOBILES  FCHA.MI  
    The European car market could grow 3 percent annually in 
2016 "if the financial storm dies down quickly", FCA's European 
operations head Alfredo Altavilla told Corriere della Sera.  
    All versions of the Alfa Romeo Giulia will go into 
production in the coming weeks and arrive at dealerships in the 
second quarter, Altavilla said. He repeated a previous statement 
that all Alfa Romeo models will be produced in Italy. 
    FCA has had more than 20,000 orders for its new four-door 
Tipo, Altavilla said.   
     
    TELECOM ITALIA  TLIT.MI   
    Argentine businessman Carlos Newbery is considering making a 
bid for Telecom Italia's stake in Telecom Argentina, Bloomberg 
reported. Reuters could not reach Newbery for comment.  
    In the report, Newbery was quoted as saying he thought a 
previous offer by Mexican financier David Martinez's Fintech for 
Telecom Argentina would be accepted.  
    Telecom Italia separately said the agreement with Fintech, 
which has been blocked by Argentina's telecoms regulator, stands 
until April 2017. 
     
    YOOX NET-A-PORTER  YNAP.MI  
    The merger between Yoox and Net-A-Porter is on track to 
reach its planned goals, Il Sole 24 Ore reported in an analysis 
on the group published on Sunday.  
    Savings through lower investments combined with higher 
revenues for the merged group would have a synergy effect worth 
85 million euros a year starting from 2018, the paper said.  
     
    SALVATORE FERRAGAMO  SFER.MI  
    The fashion and leather brand's chief executive said on 
Sunday he expected the global instability that is affecting the 
luxury sector to subside in the second half of the year. 
    He said sales had been weak so far this year in Hong Kong 
but that market was losing importance, while Japan was "solid" 
and Chinese tourists were boosting business in Thailand. 
Ferragamo expects to continue to make 40 percent of group 
revenue in Asia and Australia, he added.  
    The group is focusing on increasing profitability as "the 
luxury market will probably grow less in the future than it has 
in the past five years", he said.  
     
    METROWEB, VODAFONE  VOD.L , WIND  VIP.O  
    Britain's Vodafone and Vimpelcom's Italian mobile phone unit 
Wind will continue talks with broadband firm Metroweb on 
building a fibre optic network in Italy after the original 
end-February deadline, Il Sole 24 Ore reported.  
     
    A2A  A2.MI  
    A2A and Linea Group Holding (LGH) exclusive talks on tie-up 
end. 
     
    SARAS  SRS.MI  
    Board meeting on preliminary FY results (morning); followed 
by conference call (1400 GMT). 
     
    ANSALDO STS  STS.MI  
    Pending another court hearing scheduled for March 15, 
Hitachi said on Friday it would put in an escrow account the 
difference between its offer price on Ansaldo minorities of 9.5 
euros per share and the raised price of 9.899 euros per share 
the Japanese company was forced to pay by Italian market 
regulator Consob. On the offer's payment day on March 11, 
subscribers to the offer will be paid 9.5 euros per share and 
the money from the escrow account will be paid out to the 
subscribers should the court decide to uphold Consob's decision. 
     
    SAIPEM  SPMI.MI , ENI  ENI.MI  
    The oil contractor said on Friday it had received 3.2 
billion euros of financing from banks and repaid its full debt 
to Eni. urn:newsml:reuters.com:*:nI6N15X00G 
     
    CNH INDUSTRIAL  CNHI.MI  
    Workers at powertrains unit FPT Industrial will stay at home 
for six days between March 24 and April 1 as the company makes 
use of temporary layoffs to adjust for lower demand, the Fiom 
union said on Friday.  
     
    NOVA RE  NR.MI  
    Some 22.8 percent of the shareholders that were targeted by 
Sorgenta's takeover bid subscribed to the offer, raising the 
latter's stake in the company to around 84.8 percent, Sorgenta 
said in a statement on Friday, citing preliminary figures.     
     
    ZUCCHI  ZUCI.MI  
    Board meeting to approve 2014 FY results. 
     
    A.S. ROMA  ASR.MI  
    Board meeting on H1 results. 
     
    S.S. LAZIO  LAZI.MI  
    Board meeting on H1 results. 
     
    DIGITAL BROS  DIB.MI  
    Board meeting on H1 results. 
         
    ((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/  
 
 
Keywords: ITALY FACTORS/FEBRUARY 29