May 10, 2017 / 4:03 AM / 3 months ago

Italy - Factors to watch on May 10

7 Min Read

The following factors could affect Italian markets on Wednesday.

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 .

Politics

Rome, state lender Cassa Depositi e Prestiti representatives informally speak before Senate EU Policies Committee on 'Juncker Plan' (1100 GMT).

Vatican City, round-table discussion on diplomacy with Vatican State Secretary Cardinal Pietro Parolin, Italian Prime Minister Paolo Gentiloni (1600 GMT).

Economy

ISTAT releases March industrial output data (0800 GMT).

OECD releases March composite leading indicator (1000 GMT).

Bank of Italy releases March data on bank lending and domestic government bond holdings at Italy-based banks.

Bari, Economy Minister Pier Carlo Padoan attends conference on Europe (0900 GMT).

Debt

Treasury sells 6.5 billion euros 12-month BOT bills. Subscriptions close at 0900 GMT.

Companies

(*) Eni

The Italian oil and gas group confirmed its full-year targets on Wednesday after posting its best quarterly profits in two years thanks to higher oil prices and increased production.

Conference call (1000 GMT).

Mediaset

The private broadcaster said on Tuesday it expected to report both an operating and net profit this year after a strong improvement in the first quarter.

The group said it sees positive Q2 group advertising revenues, after a "flat" April.

(*) Saipem

The group said it was awarded a new EPCI contract from ExxonMobil for the development of the offshore field "Liza" in Guyana and also acquired or changed orders of other new conracts in the North Sea and West Africa. The new acquisitions are worth a total of $500 million.

Campari

The group's strategy shift to focus more on the U.S. market helped the drinks group to report stronger than expected first-quarter earnings, lifting its shares to a record high.

Assicurazioni Generali

Board meeting on Q1 results, press release on May 12. (*) The insurer does not need a capital increase at the moment but will consider one if there is a good acquisition opportunity that requires it, Chief Executive Philippe Donnet told La Stampa in an interview.

(*) Banca Monte Dei Paschi Di Siena

Monte dei Paschi has reached a broad agreement with Brussels on its restructuring plan, Il Messaggero said. The paper added that talks are flagging with the European Central Bank on securitisation of Monte dei Paschi's soured loans where the bank is looking for other investors besides bank rescue fund Atlante II, which does not have sufficient funds.

Banca Carige

The lender posted a 41 million-euro first-quarter loss, hit by further loan writedowns.

Bper

The bank's Q1 net profit halved, hit by a 17 million euro writedown for its stake in bank bailout fund Atlante.

Safilo

The Italian glass maker reported a steep drop in first quarter net sales after a new IT system at its Padua distribution centre disrupted deliveries. Sales for the January-March quarter fell 21.3 percent.

(*) Ovs

Gruppo Coin said it had placed around 11 percent of OVS at 6.11 euros per share through an accelerated bookbuilding to international institutional investors and transferred a stake of 0.935 percent to certain top managers. The proceeds from both transactions amount to around 166 million euros.

(*) Telecom Italia, Vivendi

Part of concessions offered by Vivendi to the European Commission as it is set to rule over the French media group's sway at the Italian phone group is for Telecom Italia to sell its stake in broadcasting services group Persidera, Il Sole 24 Ore said.

Unicredit

Board meeting on Q1 results, press release on May 11.

Mediobanca

Board meeting on Q3 results.

Ubi Banca

Board meeting on Q1 results. (*) The closing of UBI's acquisition of the three good banks is expected on Wednesday with bank bailout fund Atlante taking up 2.2 billion euros of their non-performing loans, Il Sole 24 Ore said.

a2a

Board meeting on Q1 results, followed by conference call (1330 GMT).

Brunello Cucinelli

Board meeting on Q1 revenues results, followed by conference call (1600 GMT).

Poste Italiane

Board meeting on Q1 results, followed by conference call (1600 GMT).

Unieuro

Board meeting on FY results, followed by conference call (1430 GMT).

Astaldi

Board meeting on Q1 results.

Banca Finnat

Board meeting on Q1 results.

Enav

Board meeting on Q1 results.

Geox

Board meeting on Q1 results, followed by conference call (1530 GMT).

Hera

Board meeting on Q1 results.

Prysmian

Board meeting on Q1 results, followed by conference call (1600 GMT).

UNIPOL and UNIPOLSAI

Board meeting on Q1 results (preliminary, press release on May 11).

Ascopiave

Presents Q1 results.

Alitalia

Former chairman Luca Cordero di Montezemolo told La7 television on Tuesday it would be impossible to save the airline without change to the business model, even if someone were to invest "mountains of money".

Chamber of Deputies Transport Committee meets on urgent measures for continuity of the Alitalia service.

Trade unions and Alitalia special administrators meet (1500 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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