April 10, 2018 / 4:01 AM / 3 months ago

Italy - Factors to watch on April 10

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

ISTAT releases February industrial output data (0800 GMT).

OECD releases February composite leading indicator (1000 GMT).

Banking association ABI presents book on “Italy, Europe, Economy and Banks” (1530 GMT) with President Antonio Patuelli, Intesa Sanpaolo Gian Maria Gros-Pietro; Bank of Italy Governor Ignazio Visco delivers closing address in Rome.

DEBT

Italy’s Treasury said on Monday it would offer up to 9.25 billion euros over four bonds at auction on Thursday.

TELECOM ITALIA (TIM)

Telecom Italia plans to take legal action to prevent a vote on board candidates proposed by activist fund Elliott on April 24 as top shareholder Vivendi fights to keep its grip on Italy’s biggest phone group. (*) In a separate statement, TIM’s statutory auditors said on Monday they acknowledged the decision taken by the board and that they would explain before any authority the “absolute correctness of their evaluations as well as the legal grounds and reasons leading to the decision taken”. The auditors added that they acted “with the purpose of carrying out their duties to supervise the compliance of laws... with the aim of protecting the interests of all shareholders and stakeholders.”

Italian fund association Assogestioni said on Monday it had decided not to present a slate proposing candidates for the board of phone group Telecom Italia ahead of a shareholder vote on May 4.

The antitrust watchdog said on Monday it had accepted commitments from Telecom Italia and Fastweb regarding their fiber optic network joint venture, Flash Fiber, and the antitrust procedure started last year was closed. (*) Vivendi’s Bollore will not sell his share in TIM even if the group were to lose its battle against Elliott, and will remain in the board even in a position of minority, La Stampa reported. (*) Elliott’s slate of candidates for the new TIM board could include Fiat Chrysler manager Alfredo Altavilla, former Facebook manager Paola Bonomo, former News Corp CEO Lucia Morselli and Monte dei Paschi manager Elena Cappello, Il Messaggero and Il Sole 24 Ore reported.

ANIMA HOLDING

The company said total net inflows in March stood at 183 million euros.

SAIPEM

The oil service group said in its annual financial report it had lowered the amount of damages it was seeking in arbitration against Gazprom-led South Stream Transport BV over South Stream gas pipeline project to 644.6 million euros.

(*) INTESA SANPAOLO

The final offer by Swedish debt collection group Intrum Justitia for a 12 billion euro bad loan portfolio could be presented by April 27 at a price that is 25 percent above the nominal value of the portfolio, MF reported.

(*) UBI BANCA

The goal of the lender’s shareholder Fondazione Cassa di Risparmio di Cuneo (CRC), which holds a 5.91 share, is to group together investors worth 20-25 percent of the bank’s capital to give greater stability to the lender, MF reports.

(*) AS ROMA

AS Roma are refusing to give up the ghost in their Champions League quarter-final against Barcelona despite facing a three-goal deficit in Tuesday’s second leg.

4AIM SICAF

Annual general meeting (1300 GMT).

BANCA MEDIOLANUM

Annual general meeting (0800 GMT).

MASSIMO ZANETTI

Annual general meeting (0900 GMT).

SPACTIV

Annual general meeting (0730 GMT).

AMBIENTHESIS

Board meeting on FY results.

TOSCANA AEROPORTI

Board meeting on FY results.

(*) ALITALIA

Three consortiums interested in buying the airline will file their offers on Tuesday evening although the government- appointed commissioners of the carrier will postpone to after the summer the sale, Il Messaggero reported.

The cabinet will approve on Tuesday a decree pushing forward the deadline for the offers for the carrier as well as postponing to the end of the year the repayment of the first tranche of a 600 million euro ‘bridge loan’ that would have been due on Sept. 30, Il Sole 24 Ore reported. .

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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