December 10, 2018 / 5:03 AM / a month ago

Italy - Factors to watch on Dec. 10

The following factors could affect Italian markets on Monday.

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

The lower house of parliament approves the 2019 budget. The package passes to the Senate where it faces considerable changes as the government seeks to avoid EU disciplinary action.

Italian Deputy Prime Minister Matteo Salvini underscores the growing predominance of his rightist League party in big Rome rally. Vows not to give into European Union over budget.

Salvini says President Emmanuel Macron is to blame for the “yellow vest” protests that have rattled France and urges Brussels to take heed of what is happening.

The League attacked by business leaders.

ECONOMY

ISTAT releases October industrial output data (0900 GMT)

OECD releases October composite leading indicator (1100 GMT)

IPOs

An initial public offering by Italian supermarket chain Esselunga would include a portion reserved to retail investors targeting the 5 million holders of its ‘Fidaty’ loyalty card, CorrierEconomia reported on Monday.

UBI BANCA

UBI CEO Victor Massiah told Il Sole 24 Ore newspaper on Saturday that his bank will shortly announce an unsecured bad loan sale, adding he cannot rule out the sale of blocks of NPLs if the price is right. He reiterated that banking mergers are inevitable down the road, but said UBI was not involved in any talks now. He ruled out any interest in either Carige or Creval. With the board up for renewal next Spring, Massiah said he would like to stay on as CEO.

(*) BANCO BPM

Italy’s third-largest bank holds a board meeting on Monday to pick the winner of a hard-fought race to buy some 8 billion euros in bad loans and a stake in Banco BPM’s debt collection unit.

ASTALDI

Salini Impregilo expected to make a non-binding offer for struggling builder Astaldi by Dec. 15, Corriere Della Sera reported on Saturday. The same paper said on Sunday that Japanese group Ihi corporation will also make an offer.

ENI

Egypt’s petroleum minister signed an agreement with BP and UAE-based Mubadala Investment Co giving them stakes in Eni’s Nour gas field off the northern coast of Sinai.

INTESA SANPAOLO

The Italian government must work to reduce its public debt in order to protect people’s savings, the CEO of the country’s biggest commercial lender Intesa Sanpaolo said.

TELECOM ITALIA

The group said on Friday that Giovanni Moglia was appointed Chief Regulatory Affairs and would start his stint on Jan. 7, 2019.

GENERALI

Italian entrepreneurs Francesco Gaetano Caltagirone and Leonardo Del Vecchio increased their stakes in the Italian insurer to 4.715 percent and 3.737 percent respectively, regulatory filings showed on Friday.

MEDIASET

At the moment there is not possibility of an out-of-court settlement between the Italian broadcaster and French media group Vivendi over a failed pay-TV deal, Mediaset Chairman Fedele Confalonieri said on Friday.

(*) BANCA GENERALI

CEO Gian Maria Mossa said the decision to set a dividend floor aimed at providing more certainty to investors who may not be able to include the stock in their investment policies due to the high volatility of the group’s results and dividends.

MONDO TV

Board meeting on industrial plan update and 2018 FY preliminary results.

TECHEDGE

Institutional IPO starts; end on Dec. 12

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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