August 2, 2019 / 4:00 AM / 4 months ago

Italy - Factors to watch on Aug. 2

The following factors could affect Italian markets on Friday.

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, Prime Minister Giuseppe Conte holds talks with European Commission President Ursula von der Leyen (1000 GMT).

ECONOMY

ISTAT releases industrial output June data (0800 GMT) and retail sales June data (0900 GMT).

COMPANIES

Bourse After Hours market closed.

TELECOM ITALIA

Telecom Italia (TIM) broadly met forecasts with its second-quarter core earnings on Thursday as its Brazilian business offset stalling growth and tougher competition in the domestic market for Italy’s biggest phone group. (*) TIM is looking for an infrastructure fund to buy the 50% stake in broadband group Open Fiber held by utility Enel to promote the integration of Open Fiber and TIM’s fibre network, la Repubblica said.

UNICREDIT

UniCredit has found no evidence so far of any customer data having been accessed or compromised in relation to a major data breach at Capital One Financial Corp, the bank said in a memo to staff on Thursday.

PIRELLI

Italian tyremaker Pirelli cut its revenue guidance for the second time this year, joining a string of suppliers hit by a broader auto industry downturn during the last quarter.

ENEL, TELECOM ITALIA

Europe’s biggest utility Enel confirmed full-year targets on Thursday after core earnings jumped 13.4% in the first six months, driven by its green energy and network business.

The head of Italian utility Enel said he was prepared to take his time to work on a broadband deal between the company’s Open Fiber venture and Telecom Italia.

Enel CEO Francesco Starace said he remained sceptical on large M&A deals for next few years.

MEDIASET

Mediaset is open in the future to being a minority shareholder in the pan-European media alliance it is putting together, the Italian broadcaster’s chief executive was quoted as saying on Friday.

The broadcaster reported a 10.5% fall in domestic advertising sales in the first half of the year, feeling the impact of the loss of rights to Serie A and Champions League soccer matches.

SAIPEM

Saipem said it had joined the JV for implementation of the Arctic LNG2 Project with a share in the operation of about 2.2 billion euros.

(*) ATLANTIA

A consortium comprising state lender fund FSI, electronic payment group SIA and, possibly, insurer Generali is one of the initial bidders for Atlantia’s Telepass unit, Il Sole 24 Ore said. Ten big investment funds have also made non-binding offers, including General Atlantic, Warburg Pincus, Partners Group, KKR, TPG, Advent and Bain Capital, it said.

Board meeting on H1 results.

UNIPOLSAI, UNIPOL GRUPPO

Insurer UnipolSai said its attributable net profit in the first half was 364 million euros. Individual Solvency II ratio was 264%.

Parent group Unipol said its consolidated net profit in the period was 740 million euros from 644 million euros.

SALINI IMPREGILO

State lender CDP gave a green light on Thursday to Salini Impregilo’s plan to create a national building champion, several papers said. CDP will stump up 250 million euros to help cover a capital increase of 600 million euros to create the new hub.

PRYSMIAN

Prysmian targets FY EBITDA of 1 billion euros though not officially revising guidance, CEO Valerio Battista told analysts at a post-result conference call.

FIAT CHRYSLER

Fiat Chrysler’s sales of new cars in Italy declined by 19.4% year-on-year in July, against a 0.1% contraction in the market, Reuters calculations based on transport ministry data showed on Thursday.

AUTOGRILL

Italian travel caterer Autogrill said it was sticking with a full-year target of doubling last year’s free cash flow after extraordinary expenses in the first half dragged it down.

UNIPOL and UNIPOLSAI

Conference call on H1 results (1000 GMT).

TELECOM ITALIA TIM

Conference call on H1 results (1100 GMT).

FERRARI

Board meeting on H1 results, followed by conference call (1300 GMT).

UBI BANCA

Board meeting on H1 results, followed by conference call (1300 GMT).

A2A

Board meeting on H1 results, followed by conference call (1300 GMT).

SAFILO

Board meeting on H1 results, followed by conference call (1600 GMT).

ASCOPIAVE

Chairman Nicola Cecconato holds news conference to present strategic plan and partnership with Hera in Pieve di Soligo (1300 GMT).

BUZZI UNICEM

Board meeting on H1 results.

DOVALUE

Board meeting on H1 results, followed by conference call.

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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