April 29, 2020 / 4:00 AM / a month ago

Italy - Factors to watch on April 29

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 .

GENERAL

Deaths from the COVID-19 epidemic in Italy climbed by 382 on Tuesday, against 333 the day before, the Civil Protection Agency said, while the total of people infected since the start of the outbreak topped 200,000.

ECONOMY

Italy is preparing measures to give state lender Cassa Depositi e Prestiti (CDP) the financial power to help companies raise capital and strengthen their balance sheets, Economy Minister Roberto Gualtieri said on Tuesday.

DEBT

Rating agency Fitch cut Italy’s credit rating to “BBB-minus” on Tuesday, just one notch above junk, saying the downgrade reflects the impact of the coronavirus pandemic on the euro zone’s third largest economy.

Treasury sells 1.0-1.5 billion euros 1.60% BTP bonds due June 1, 2026; 3.25-3.75 billion euros 0.95% BTP bonds due Aug. 1, 2030; 500-750 million euros CCTeu bonds due Oct. 15, 2024. Subscriptions close at 0900 GMT.

ATLANTIA

The Italian infrastructure group expects COVID-19 to wipe 3 billion euros from its revenues this year at a time when the health emergency is also slowing talks with the government over its lucrative motorway concession.

The group said it had filed a settlement proposal to the government at the beginning of March worth a total of 2.9 billion euros ($3 billion).

Atlantia said Giancarlo Guenzi would leave as general manager end April. The agreement provides for payment of an early retirement incentive of 1.080 million euros gross, plus post-employment benefits.

The company has delayed its Q1 results to June 11 as a result of restrictive measures introduced in several countries where it works to fight COVID-19.

(*) PRYSMIAN

The difficulties that arise from the coronavirus outbreak will affect the world’s largest cable maker’s second-quarter results, Chief Executive Valerio Battista was quoted as saying in Il Sole 24 Ore, adding, however, that the company’s solidity was not at risk.

(*) OVS

OVS top shareholder Tamburi Investment Partners (TIP) is ready to support the Italian clothing retailer in any potential acquisition of rival chain stores struggling with the coronavirus crisis, TIP’s head Gianni Tamburi told la Repubblica daily on Wednesday.

CNH INDUSTRIAL

The vehicle and equipment maker on Tuesday resumed operations at four plants in Italy, a spokesman said, as the country moves towards lifting a nationwide lockdown aimed at curtailing the spread of the coronavirus pandemic.

The group said on Wednesday it had raised 600 million pounds through Bank of England lending programme to large companies.

MEDIASET

A Milan court hearing over a request by Mediaset investor Vivendi to suspend a planned merger of the Italian group’s domestic and Spanish businesses under a Dutch holding company has been postponed by nearly a month, to May 28, due to the coronavirus emergency, two sources with knowledge of the matter said on Tuesday.

PIRELLI

The Italian tyremaker said on Tuesday it had called its annual general meeting on June 18.

AMPLIFON

Board meeting on Q1 results, followed by conference call.

ITALGAS

Board meeting on Q1 results, followed by conference call (1400 GMT).

TENARIS

Board meeting on Q1 results.

HERA

Annual and extraordinary shareholders’ meetings (0800 GMT).

UNIPOLSAI

Annual and extraordinary shareholders’ meetings (0830 GMT).

RECORDATI

Annual general meeting (0730 GMT).

SAIPEM

Annual general meeting (0800 GMT).

IREN

Annual general meeting (0930 GMT).

RCS MEDIAGROUP

Annual general meeting (0830 GMT).

DIARY

Rome, Italian banking association ABI Director General Giovanni Sabatini speaks via videoconference before Senate Industry Committee (0630 GMT).

Rome, representatives of Bank of Italy (0700 GMT) and the parliamentary budget office (0815 GMT) due to speak on economic and financial document (DEF) before Budget committees.

Rome, Bank of Italy Director General Daniele Franco speaks before Parliamentary Committee for the Security of the Republic COPASIR (0830 GMT).

Rome, Chamber of Deputies examines “2020 Economy and Finance Document” and 2020 deficit increase (1430 GMT).

Rome, the government’s special commissioner for the coronavirus emergency Domenico Arcuri due to speak on so-called ‘liquidity decree’ before Chamber of Deputies Finance Committee (1430 GMT).

Rome, Alitalia special administrator Giuseppe Leogrande speaks before Chamber of Deputies Transport Committee on Alitalia’s economic and financial situation and prospects following the coronavirus emergency (0700 GMT).

Rome, Economy and Finance Ministry representative Stefano Cappiello speaks before Chamber of Deputies Parliamentary commission of inquiry into the banking and financial system on task force initiatives for the liquidity of the banking system durin the health emergency (0630 GMT).

Italian Digital Week continues; ends on April 30. Today the focus is on investors “Trend and investment opportunities: is Italy the next big thing?”.

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FTSE IT allshare index

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Stories on Italy...... IT-LEN

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