May 2, 2017 / 4:00 AM / 5 months ago

Italy - Factors to watch on May 2

Milan, May 2 (Reuters) - - 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

Markit/ADACI releases April PMI manufacturing (0745 GMT).

ISTAT releases March unemployment data (0800 GMT).

Transport Ministry releases April car sales data (1600 GMT).

April state sector borrowing requirement data.

POLITICS

Former Prime Minister Matteo Renzi easily regained the leadership of the ruling Democratic Party (PD) on Sunday with an overwhelming victory in a primary election among party members. Renzi won about 70 percent of the some 1.8 million votes cast. The other two candidates had about 20 percent and 10 percent, according to the party’s website.

COMPANIES

Milan Stock Exchange presents companies admitted to ‘Elite’ (1200 GMT).

LUXOTTICA

The world’s largest eyewear group Luxottica said like-for-like sales fell 3.5 percent in the first quarter, hit by a recently introduced policy of reducing discounts and promotions online and across its retail network.

BANCA CARIGE

The board said on Friday it had approved the sale of a portfolio of bad loans worth 950 million euros to a securitisation vehicle by the end of June.

BANCA POPOLARE DI VICENZA

Deposits have started to return to Popolare di Vicenza after an outflow helped to drive the troubled Italian bank’s direct funding down 14.4 percent last year, its chief executive said on Friday.

The shareholder meeting has voted in favor of the confirmation of CEO Fabrizio Viola for 2017 and 2018.

Veneto Banca and Popolare di Vicenza could reach a preliminary deal with bank fund Atlante II to sell part of its bad loans wrapped through a securitisation, Milano Finanza said.

MONTE DEI PASCHI

An inspection on the bank’s loans by the European Central Bank has unveiled additional losses for the lender, La Stampa reported on Saturday. The newspaper said that there is no final decision, but there is a risk that the state would have to inject more than the 6.6 billion euros estimated some months ago.

ALITALIA

Shareholders’ meeting and possible board meeting.

Alitalia on Saturday denied press reports saying the CEO Cramer Ball was negotiating a multi-million severance package. In a statement the carrier also said that the sale to Etihad Airways of landing and take-off slots at London Heathrow Airport, plus the sale of Alitalia’s Millemiglia loyalty programme was fully transparent and at market prices.

The carrier will need a bridge loan of around 500 million euros, several newspapers reported on Saturday.

The European Commission will not have to approve the bridge loan for the carrier because the state will lend money to the Alitalia at market conditions, without triggering state aid rules, Il Sole 24 Ore reported on Saturday.

A decree to put the carrier under special administration will likely open the way to a quick sale of the carrier, Il Messaggero said on Saturday, mentioning Lufthansa as a possible buyer, together with creditor banks.

Il Messaggero said a petition is circulating among Alitalia’s employees to ask for re-opening the talks on a restructuring plan rejected some days before.

Low-cost carrier Ryanair could be interested in buying Alitalia, Corriere della Sera said on Saturday.

Mauro Moretti, former CEO of Leonardo, could be the right manager to restructure Alitalia, Milano Finanza said.

Italy’s former Prime Minister Matteo Renzi will present an alternative plan for Alitalia by May 15, he said on Friday in a TV interview on Tg5.

Industry Minister Carlo Calenda told Sky TG24 television on Sunday that a sudden collapse of Alitalia would be a great shock for Italy’s GDP.

POSTE ITALIANE

The board of the group appointed Matteo Del Fante Chief Executive and Maria Bianca Farina on Friday, confirming the nominations made by the government last month.

ENAV

The Italian air traffic controller is worried about the difficult situation of Alitalia but it sees scarce effects on its business, the CEO said on the sidelines of the shareholder meeting.

PARMALAT

The chairman of the dairy group told the shareholder meeting that top investor Lactalis had not bought additional shares in the company following a takeover on the Italian group.

Parmalat CEO Yvon Guerin said on Friday he sees room for possible acquisitions, also in Italy.

The group will hold a shareholder meeting on May 29 to vote whether to sue directors who managed the company between 2011 an 2012. (*) The company said on Tuesday that its LAG Holding subsidiary had acquired two companies operating in the dairy sector in the United States. The enterprise value of the acquired business was set at around $130 million.

(*) FINCANTIERI

The company said that Vard, 74.45 percent-controlled by Fincantieri, had secured a a contract for the design and construction of a research expedition vessel.

(*) AUTOGRILL

Credit Suisse raised its price target on the stock to 9.10 euros from 8.20 euros and cut its rating to ‘underperform’ from ‘neutral’.

(*) PRYSMIAN

Barclays raised its target price on the stock to 29 euros from 24 euros.

DAVIDE CAMPARI

The shareholder meeting of the beverage group on Friday approved a stock split its ordinary shares with a nominal value of 0.10 euros each into new shares with a nominal value of 0.05 euros apiece.

MONDADORI

The publisher said on Friday it has finalised an agreement on the disposal of the business units involved in the logistics activities of Mondadori Libri and Mondadori Retail to Ceva Logistics Italia.

STEFANEL

The fashion retailer said on Friday it posted a loss of 25.3 million euros in 2016 from a negative result of 7.7 million euros the previous year.

CERVED

Conference call on Q1 results (1330 GMT).

TERNIENERGIA

Annual and extraordinary shareholders’ meetings (0700 GMT) and board meeting on Q1 results.

Trades ex-dividend: AEROPORTO DI BOLOGNA of 0,277 euro per ordinary share; BANCA IFIS of 0.82 euro per share; BANCA SISTEMA of 0.076 euro per ordinary share; B&C SPEAKERS of 0,40 euro per share as ordinary dividend and 0.60 euro per share as special dividend; CERVED of 0.218 euro per share and 0.029 euro per share as special dividend; GEFRAN of 0.25 euro per share; HEALTH ITALIA of 0.081 euro per ordinary share; MAIRE TECNIMONT of 0.093 euro per share; NOTORIOUS PICTURES of 0.0529 euro per share; SAES GETTERS of 0.550000 euro per ordinary share and of 0.566626 euro per saving share; SAVE of 0.69493 euro per share; TECH-VALUE of 0.06 euro per share.

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:...............................

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below