Italy - Factors to watch on Dec. 2
02/12/2024 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 .
DEBT
Credit ratings agency Scope said on Friday it had completed
a review of Italy and had taken no rating action. Scope rates
Italy 'BBB+' with a stable outlook.
ECONOMY
November PMI manufacturing HCOB data (0845 GMT).
ISTAT releases October unemployment rate data (0900 GMT) and
Q3 GDP final data (1000 GMT).
Transport Ministry releases November car sales data (1700
GMT).
November state sector borrowing requirement data.
COMPANIES
STELLANTIS STLAM.MI
Chief Executive Carlos Tavares has resigned, the carmaker
said on Sunday adding that the new CEO will be appointed in the
first half of 2025 and that the financial guidance for 2024 has
been confirmed.
UNICREDIT CRDI.MI , BANCO BPM BAMI.MI
UniCredit CEO Andrea Orcel will wait for the release of
Banco BPM's results and the outcome of the bid for Anima Holding
ANIM.MI expected in March before considering a possible
improvement of the terms of its offer for Banco BPM, Corriere
della Sera reported on Saturday.
Preliminary contacts are ongoing between UniCredit and a
group of financial advisers about the bid for Banco BPM, Il Sole
24 Ore and la Repubblica reported on Saturday, mentioning
Mediobanca and Morgan Stanley. No formal mandate has been
assigned, even from Banco BPM, which could pick Lazard, Citi and
Legance as legal adviser, the two newspapers said. Il Sole 24
Ore also mentioned JPMorgan as one of the banks that could help
UniCredit.
The Italian Treasury on Friday denied drafting an emergency
decree to counter UniCredit's takeover bid for smaller rival
Banco BPM after the Financial Times reported Rome was
considering this option.
TELECOM ITALIA (TIM) TLIT.MI
The Italian phone group said on Saturday it had agreed to
the request by Italy's economy ministry and Retelit to extend
the deadline for the receipt of a binding offer for the
acquisition of TI Sparkle until Dec. 16.
LEONARDO LDOF.MI
Roberto Cingolani, chief executive of the Italian defence
group, has taken on the role of interim chief M&A, equity
investments & industrial plan implementation officer,
MilanoFinanza reported on Saturday, adding that Leonardo is
looking at Italy's DEAS and Britain's Becrypt and Adarga, three
companies specialising in cyber security, for a possible
acquisition.
ITALGAS IG.MI
Paolo Gallo, chief executive of Europe's largest gas
distributor, told the Italian newspaper la Repubblica on Sunday
that he did not see any risk to competition in Italy from the
acquisition of smaller rival 2i Rete Gas.
PIAGGIO PIA.MI
The maker of the iconic Vespa scooter will stop production
of its three-wheeled light utility vehicle dubbed Ape at its
Pontedera plant in Italy, Italian newspapers reported on Sunday,
adding that the model will be built in India and sold in India
and Africa, where emissions restrictions are less stringent.
UTILITIES
The Italian regulator for the energy sector ARERA announced
on Friday the weighed average cost of capital (WACC) for Italian
electricity and gas companies in 2025 and also revised other
parameters for the utilities.
The update of all relevant parameters leads to a change in
WACC in 2025 compared to 2024 of minus 60 basis points to 5.90%
in Italgas IG.MI , minus 30 bps to 5.50% for Terna TRN.MI ,
minus 40 bps to 5.50% for Snam SRG.MI gas transportation,
minus 50 bps to 6.1% in storage, minus 50 bps to 6.2% in
liquefied natural gas and minus 40 bps to 5.60% for Enel
ENEI.MI , according to calculations by RBC analysts.
LAZIO LAZI.MI
Rome-based "biancocelesti" lost 3-1 away to Parma on Sunday.
VIVENDA GROUP VVG.MI
The "out of home" advertising agency debuts on Euronext
Growth Milan.
DIARY
Foreign Minister Antonio Tajani attends meeting on
reconstruction of Gaza in Cairo (Egypt).
((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/