August 7, 2018 / 4:04 AM / 3 months ago

Italy - Factors to watch on Aug. 7

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

Bank of Italy releases July data on Target 2 liabilities and European Central Bank funding to Italian banks. (*) Italy’s Deputy Prime Minister Di Maio said on Tuesday government senior officials would meet on Wednesday to discuss next year’s budget, speaking in a radio interview.

DEBT

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on Aug. 10.

Italian two-year borrowing costs dropped below one percent on Monday as investors hunted for yield, though some of the bullishness was tempered by government officials’ comments that renewed fears about their commitment to fiscal discipline.

COMPANIES

Bourse After Hours market closed.

(*) UNICREDIT

Italy’s biggest bank said on Tuesday its net profit in the second quarter fell 13.3 percent on an adjusted basis due to higher charges and provisions.

Chief Executive Jean Pierre Mustier confirmed the bank’s 2018 and 2019 targets.

LEONARDO

Turbopropmaker ATR - jointly owned by Leonardo and France’s Airbus - on Monday confirmed it had delivered five more turboprop aircraft to IranAir shortly before Washington imposes new sanctions on Iran but said it still faced difficulties obtaining U.S. permission to hand over another seven planes on order.

UNICREDIT, INTESA SANPAOLO

Russia’s Gazprom suspended its external borrowing programme earlier this year because of a deepening legal dispute with Ukraine’s Naftogaz over gas supplies, three banking sources told Reuters. UniCredit and Intesa Sanpaolo both worked on Gazprom’s external financing programmes along with other banks.

(*) BANCA CARIGE

The bank’s board will meet on Tuesday, but only 10 out of 15 board members will take part after recent resignations, Il Sole 24 Ore and La Stampa reported. The board is expected to reply to the European Central Bank’s letter sent in July, but the board’s answer will not be “compromising” in order for the new board to take the action needed, Il Sole 24 Ore added.

(*) TELECOM ITALIA

Seven phone operators have been admitted to Italy’s auction of frequencies for fifth-generation (5G) mobile services: Telecom Italia, Iliad, Fastweb, Vodafone, Wind3, Linkem and Open Fiber, jointly owned by state lender CDP and Enel, Il Sole 24 Ore reported. Offers by the single operators must be submitted by Sept. 10, the report added.

(*) LUXOTTICA

RBC raised on Tuesday its target price to 50 euros per shares from 46 euros per share.

BPER BANCA

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

PIRELLI

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

BANCA FARMAFACTORING

Board meeting on H1 results, followed by conference call.

DOBANK

Board meeting on H1 results.

SINTESI

Ordinary and extraordinary shareholders’ meetings.

(*) ALITALIA

The government is examining a plan to control the entire group and not just 51 percent as initially declared and will not press ahead with the search for new investors for the carrier, La Stampa reported. The plan would envisage the creation of a new company, co-owned by state-controlled companies such as the rail group Ferrovie dello Stato and postal operator Poste Italiane as well as state lender CDP.

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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