June 23, 2017 / 6:43 AM / 3 months ago

Italy - Factors to watch on June 23

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

ISTAT releases April industry orders and sales data (0800 GMT).

DEBT

Treasury announces sale of 6-month BOT bills, with relative amounts to be auctioned on June 28.

COMPANIES

UBI BANCA

Italian prosecutors have requested that the country’s fifth-biggest bank, its chief executive and 29 other people be sent to trial over alleged obstruction of regulators, a source with direct knowledge of the issue said on Thursday. The bank said it was not aware of the prosecutors’ request.

(*) VENETO BANKS

A clumsy attempt by Italy to tackle problems at two Veneto-based banks by allowing a major lender to cherry-pick their prime assets for a pittance has left the government testing the boundaries of European law. With a deal expected within days, critics are concerned that Rome is exploiting loopholes to bend EU rules designed to prevent state bailouts.

The rescue operation for the two Veneto-based banks has received an informal green light from the European Commission, reported Il Messaggero.

The government decree which envisages the effective liquidation of Banca Popolare di Vicenza and Veneto Banca, could be put together “in the next hours” or Monday at the latest, reported Corriere della Sera.

The rescue of the two banks could cost between 12 billion and 13 billion euros, with the State paying 8-9 billion euros of the total, La Stampa reported.

The approval of the plan to rescue the two regional lenders could arrive as early as this weekend, reported Il Sole 24 Ore, adding that the lenders’ soured assets will be grouped in a bad bank with a gross value of 20 billion euros.

Italian Economy Minister Pier Carlo Padoan and European Commission’s Competition Commissioner Margrethe Vestager may talk today, reported la Repubblica

(*) BANCA CARIGE

Italian market watchdog Consob has requested access to the minutes of the lender’s last board meetings, particularly those related to the resignation of three board members and the no-confidence vote against former CEO Guido Bastianini, la Repubblica and Il Sole 24 Ore reported, citing Radiocor news agency.

HERA

A number of local authorities that are part of the utility’s shareholder pact have launched the sale of a combined stake of 1.7 percent in the company through an accelerated book building, Hera said in a statement on Thursday. (*) ENEL

The Italian utility may bid for the Italian assets of Spain’s Gas Natural, for which non-binding offers must be presented by today, reported MF.

(*) ATLANTIA

The Italian road operator will keep Abertis listed, and will maintain its headquarters in Spain as well as its management after it acquires the Spanish operator, Abertis CEO Giovanni Castellucci confirmed in an interview with Corriere della Sera. He added the Italian group would transfer its South American operations to Abertis.

(*) LEONARDO

Senegal Air SA has ordered two ATR 72-600 aircraft in a 50 million euro ($56 million) deal. France-based ATR, jointly owned by Airbus and the Italian group, will deliver the two turboprop planes in November.

(*) GEDI

After the retirement of L‘Espresso Chairman Carlo De Benedetti at the helm of the publishing company, his son Marco will most likely replace him, Il Sole 24 Ore reported.

(*) ALITALIA

The carrier’s three commissioners are expected to announce today they will open the airline’s data room to potential buyers starting from next week, for a time of four to six weeks, reported Il Sole 24 Ore. The commissioners will not disclose how many offers, out of an initial 33, have made it through the first selection il Sole 24 Ore reported, adding the number could be between 10 and 15 and could include British Airways, Delta Airlines, Etihad , Lufthansa and low-cost carriers Easyjet and Ryanair.

BONIFICHE FERRARESI HOLDING

Debuts on main segment.

ERGYCAPITAL

Extraordinary shareholders’ meeting on merger with Intek Group (1030 GMT).

INTEK GROUP

Annual and extraordinary shareholders’ meetings (1300 GMT).

SPACE3

Presents operation of ‘Business Combination’ with Aquafil (0730 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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