March 30, 2017 / 4:00 AM / 6 months ago

Italy - Factors to watch on March 30

The following factors could affect Italian markets on Thursday.

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

Prime Minister Paolo Gentiloni attends Culture G7 in Florence; visits Fincantieri plant in Monfalcone (1000 GMT) and Palazzo del Podesta in Mantua (1300 GMT).

Rome, conference on “The Wealth of the Nation. Financial Education and protection of savings” with Economy Minister Pier Carlo Padoan, Bank of Italy Governor Ignazio Visco, market regulator Consob President Giuseppe Vegas (1300 GMT).

Trani, last hearing in trial of Fitch analyst David Riley, with verdict expected.

Trani, new hearing in case against ratings agency Standard & Poor’s and five of its current and former managers, with verdict expected.

Energy Authority AEEGSI releases energy and gas fees effective from April 1, 2017.

Rome, welfare institute INPS President Tito Boeri attends conference (1415 GMT).

DEBT

Treasury sells 2.0-2.5 billion euros CCTeu bonds due Feb. 15, 2024; 1.75-2.25 billion euros 1.20 percent BTP bonds due April 1, 2022; 2.0-2.5 billion euros 2.20 percent BTP bonds due June 1, 2027; 0.500-0.750 billion euros 2.80 percent BTP bonds due March 1, 2067; 0.500-1.0 billion euros 0,65 percent BTP bonds due Nov. 1, 2020. Subscriptions close at 0900 GMT.

COMPANIES

TELECOM ITALIA

Vivendi is considering putting its chief executive Arnaud de Puyfontaine forward as Telecom Italia’s next chairman, sources told Reuters, potentially aggravating concerns about the French group’s growing influence over Italian companies. The board of Telecom Italia, of which Vivendi is the top shareholder with 24 percent, comes up for renewal in May.

Telecom Italia went live with a website for its new Kena Mobile brand on Wednesday, testing demand for a no-frills alternative to French carrier Iliad, which is set to launch its Free brand in Italy by early next year.

(*) TELECOM ITALIA, MEDIASET

Vivendi will submit its proposal for Telecom Italia’s new board before Italy’s communications regulator AGCOM decides on the compatibility of the Frenh media group’s stakebuilding at both Telecom Italia and Mediaset with Italian regulations, Il Sole 24 Ore said. AGCOM is due to debate the issue on April 11 but an ad hoc meeting could be called with a yet to-be-defined date given the sensitivity of the issue, the paper added.

(*) VENETO BANCA, POPOLARE DI VICENZA

The managers of the two banks will meet officials of the European Central Banks on Thursday, several papers said. The ECB may use the meeting to indicate what the banks’ capital shortfall is and whether they meet the conditions for a precautionary recapitalisation, the papers added.

In an interview with Il Messaggero, Popolare di Vicenza CEO Fabrizio Viola said “given the size of the shortfall to be covered, the most likely option is that of public recapitalisation”. The manager also adds that given simulations carried out, the bank meets the conditions for such a solution.

(*) ENI, ENEL, POSTE ITALIANE

State lender Cassa Depositi e Prestiti could take on the Treasury’s stakes in listed companies, La Repubblica said in an unsourced report. The CDP would not pay in cash but issue privileged shares - giving the right to higher dividends and less governance - that in future would be sold on to institutional investors, the paper added.

(*) BANCO BPM

The deadline for binding offers for a 750 million-euro bad loan portfolio called Project Rainbow put on sale by the bank will be April 10, MF reported.

SAIPEM

The oil services group said on Wednesday it has launched a 500-million euro fixed rate non-convertible bond with a fixed annual coupon of 2.75 percent and a re-offer price of 100 percent.

ENEL

Italy’s biggest utility said on Wednesday it has started construction works at its 754 MW Villanueva photovoltaic plant, the largest photovoltaic facility under construction in the Americas and Enel’s largest solar project worldwide.

Shareholders of Slovakia’s biggest power utility approved a higher cost estimate for a long-delayed nuclear power plant but could not agree on how to finance the extra 800 million euros, company and government officials said on Wednesday. Slovenske is owned by the government, with a 34 percent stake, and a joint venture between Italy’s Enel and privately-held Czech energy group EPH.

FINCANTIERI The Italian shipyard said on Wednesday its 2016 full year revenues was 4.43 billion euros and its net profit non-recurring items was 25 million euros, versus loss 175 million euros a year ago.

Conference call (0700 GMT).

ENI

President Emma Marcegaglia attends conference on “International Workshop on Resource Efficiency” in Rome (1300 GMT).

EDISON

Annual general meeting (0900 GMT).

CERVED

CEO Andrea Mignanelli attends research presentation on “The NPLs Market between Demand and Offer” at Bocconi University in Milan (1530 GMT).

BORGOSESIA

Board meeting to postpone approval of FY results.

LANDI RENZO

Bondholders’ meeting (0800 GMT).

PREMUDA

Extraordinary shareholders’ meeting (1230 GMT).

S.S. LAZIO

Board meeting on H1 results.

UNIEURO IPO-UNE.MI

IPO ends (started on March 20).

BUZZI UNICEM

Board meeting on FY results (preliminary on Feb. 9), followed by conference call (1430 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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