July 7, 2017 / 4:01 AM / 3 months ago

Italy - Factors to watch on July 7

The following factors could affect Italian markets on Friday.

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 (*) Euro zone growth is picking up but underlying inflation is still weak so the European Central Bank should adjust its policy carefully and flexibly to avoid abrupt market moves, ECB board member Benoit Coeure told two European newspapers.

ISTAT releases May retail trade data (0800 GMT).

Bank of Italy releases June data on Target 2 liabilities and European Central Bank funding to Italian banks.

DEBT

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on July 12.

Treasury sells maximum of 2.0 billion euros 5.75 percent BTP bonds due Feb. 1, 2033 in bond swap of following five bonds: 4.50 percent BTP bonds due Aug. 1, 2018; 3.50 percent BTP bond due Dec. 1, 2018; 4.25 percent BTP bonds due Feb. 1, 2019; 4.25 percent BTP bonds due Sept. 1, 2019; CCTEU bonds due April 15, 2018. Subscription close at at 0900 GMT.

COMPANIES

BANKS

European Union finance ministers are expected to call for a tweak to banking rules next week that could force lenders to set aside more capital against new loans that may turn bad, according to a draft document seen by Reuters. (*) The President of Italy’s parliamentary Finance committee Francesco Boccia said the country lacked a comprehensive approach in dealing with its banking sector since the recession and the responsibility for the latest events is the past centre-right governments’ and former Prime Minister Mario Monti‘s, speaking in an interview with Corriere della Sera.

VENETO BANCA, BIM

Veneto Banca, one of two troubled regional lenders Italy is winding down, said on Thursday it had started the process to sell its controlling stake in private banking group BIM.

ENI

The energy group started oil production from the 45,000 barrel-per-day Sankofa field offshore Ghana on Thursday, giving a boost to the West African country’s plans to use its oil resources to revive its economy.

ATLANTIA

The motorway operator said on Thursday it had successfully placed a series of notes under its EMTN programme for a total of 1 billion euros. The demand was four times greater than the offer, the company said, adding that the proceeds from the issue will be used for general corporate purposes, including to fund its offer on Spain’s Abertis.

FIAT CHRYSLER

Industry-wide automobile production in Brazil fell 15.4 percent and sales slipped 0.3 percent in June from May, the national automakers’ association said on Thursday.

FINECOBANK

The company said its net sales amounted to 456 million euros in June, up 9 percent year-on-year.

SALINI IMPREGILO

The group said on Friday it won a $580 million contract, with Lane Construction Corporation, for the construction of the Northeast Boundary Tunnel in Washington D.C.

ACEA, HERA <HRA.MI, IREN, A2A

Almost 40 percent of water distributed for consumption in Italy is lost, mainly due to very old network infrastructure and lack of investments, La Stampa reported, citing the ‘Blue Book’ report by the association of utility companies Utilitalia.

(*) CALTAGIRONE EDITORE

Minority shareholders, holding about 4.4 percent, have written to Milan’s stock exchange and the national market regulator Consob to signal that the price offered per share by the Caltagirone family aimed to delist the company is too low and that shares are worth at least 3.85 euros, la Repubblica reported.

PIRELLI

The company said it had successfully concluded refinancing of credit lines for 4.2 billion euros.

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

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