August 23, 2018 / 4:00 AM / 3 months ago

Italy - Factors to watch on Aug. 23

The following factors could affect Italian markets on Thursday.

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

Genoa, state lender CDP CEO Fabrizio Palermo and Fincantieri CEO Giuseppe Bono visit site of the collapsed bridge.

Alzano Lombardo, Veneto Region Governor Luca Zaia and Friuli Venezia Giulia Region Governor Massimiliano Fedriga attend the League’s annual meeting ‘Bèrghem Fest’.

DEBT

Treasury announces sale of CTZ (cancelled BTPei bonds) with relative amounts to be auctioned on Aug. 28.

ATLANTIA

Ratings agency Moody’s said on Wednesday it placed under review for downgrade the ratings of the infrastructure group and its toll-road unit Autostrade per l’Italia and its airport operator unit Aeroporti di Roma.

Its unit Autostrade per l’Italia said on Wednesday it had started making necessary checks to secure the area below Pillar 10 of the viaduct in Genoa and that operations will be carried out in the time strictly necessary and will respect indications by the prosecutor’s office in the city.

CDP taking a stake in Autostrade is not on the state lender’s agenda for now, Il Sole 24 Ore said, adding the government was split on its having a role. The Benetton family might find the CDP buying a stake in its Autostrade unit convenient and might even be prepared to sell its whole stake, offloading 8 billion euros in debt, Il Messaggero said.

The CEO of CDP is scheduled to visit Genoa on Thursday.

FIAT CHRYSLER

The carmaker is pressing ahead with the spin-off of its parts maker Magneti Marelli, a spokesman confirmed in Wednesday after reports investment firm KKR was in talks to acquire the unit.

Earlier on Tuesday the Wall Street Journal reported that global investment house KKR was in talks to acquire the unit and that a potential sale price could exceed the 3.23 billion euros value at which some analysts valued it.

KKR’s bid for Magneti could be worth $6 billion, Il Corriere della Sera said.

MEDIASET

Italy’s populist coalition will review thousands of state contracts with private companies, including Silvio Berlusconi’s media concessions, in a sign of Rome’s toughening line against corporate interests following the Genoa bridge disaster, the FT said. It cited undersecretary for the regions Stefano Buffagni as saying concessions given the private sector needed to be checked to see if they were “overly benevolent”.

PIRELLI

The tyre-maker said on Wednesday it did not see any significant changes in the tyre market that could impact its forecasts for the current year. Earlier on Wednesday German automotive supplier Continental AG cut its 2018 sales and margin guidance.

BANCO BPM

The lender said on Wednesday that it had received the authorisation from the European Central Bank to merge Banca Popolare di Milano into Banco BPM and had filed with the local companies registry.

BANCA CARIGE

There is a risk that the next board of the bank will be split, Il Sole 24 Ore said.

SALINI IMPREGILO

The builder won a 250 million euro contract to build S7 Expressway Lot in Poland.

ACEA

The good performance in organic growth of the utility’s businesses in the first half will be repeated in the second six months, Il Sole 24 Ore cited Acea’s CEO as saying.

(*) COSTAMP GROUP

The company said on Wednesday that main shareholder co.stamp srl had completed a placement through accelerated bookbuilding of 4.35 percent stake.

Bourse After Hours market closed.

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

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