July 4, 2017 / 4:03 AM / 3 months ago

Italy - Factors to watch on July 4

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 .

ECONOMY

Italy posted a state sector deficit of 8.2 billion euros in June, compared to a surplus of 8.654 euros in June, 2016, the Treasury said in a statement on Monday.

It added the size was affected by the 4.8 billion-euro costs of winding up two failed regional banks in the Veneto region and the delay of tax receipts amounting to about 13 billion euros.

Rome, welfare institute INPS presents its annual report with President Tito Boeri (0900 GMT).

PWC presents report on “The Italian NPL Market: the place to Be” in Milan (0900 GMT).

COMPANIES

BANCA CARIGE

Italy’s Banca Carige approved a series of measures aimed at rebuilding its balance sheet on Monday, including a cash call of up to 500 million euros and a 1.2 billion euro sale of bad loans.

UNICREDIT

UniCredit said it had successfully concluded the disposal of Pioneer Investments to Amundi. It made a capital gain of about 2.1 billion euros on the sale to increase fully-loaded CET 1 ratio by around 84 basis points.

(*) BANCA MONTE DEI PASCHI DI SIENA

A final green light by the European Commission to inject up to 6.6 billion euros of state money into the lender should arrive “today or tomorrow at the latest”, Il Sole 24 Ore reported .

(*) VENETO BANKS

Although 700 amendments have been presented to a government decree passed to wind down two Veneto-based banks the governing majority aims to keep changes to a minimum and approve the decree in Parliament swiftly, Il Sole 24 Ore reported.

(*) ENEL, TELECOM ITALIA

The Chief executive of Italy’s Open Fiber, the broadband business owned by Italy’s biggest utility Enel and state lender CDP, said the group expects to complete the network in 5-6 years and that the business will break even in 2018, in an interview with Il Sole 24 Ore.

CEO Tommaso Pompei added that Open Fiber is thinking of opening up to new investors, after having seen interest from foreign funds, but that Enel and CDP would remain long term shareholders.

Answering a question on whether Telecom and Open Fiber should join forces in certain areas of the country, Pompei answered that the group provides the network but that it is “open to evaluate everything.”

FIAT CHRYSLER

Italian car sales rose 12.88 percent in June and Fiat Chrysler’s market share in Italy was 28.56 percent, from 29.32 percent in May.

Celebration of the 60th anniversary of Fiat 500 in Turin, with top management(0845 GMT).

ATLANTIA

The group said it had called an extraordinary shareholder meeting on August 2 to vote on a capital increase to fund the bid on Spain’s Abertis.

UNIPOL, UNIPOLSAI

Fitch said that Unipol Gruppo and UnipolSai ratings are not affected by the group’s reorganisation of insurance operations and by the banking unit’s restructuring plan.

PIRELLI

Deputy Executive Chairman and CEO Marco Tronchetti Provera attends a book presentation on Pirelli’s advertising in Milan (1700 GMT).

RAI

State broadcaster RAI presents “2017 Autumn Broadcast Programming” in Rome (1800 GMT).

For Italian market data and news, click on codes in brackets:

20 biggest gainers (in percentage)............

20 biggest losers (in percentage).............

FTSE IT allshare index

FTSE Mib index........

FTSE Allstars index...

FTSE Mid Cap index....

Block trades..........

Stories on Italy...... IT-LEN

For pan-European market data and news, click on codes in brackets: European Equities speed guide................... FTSEurofirst 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurofirst 300 sectors................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Reuters survey of world bourse outlook......... Western European IPO diary.......................... European Asset Allocation........................ Reuters News at a Glance: Equities............... Main currency report:...............................

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