December 12, 2018 / 5:01 AM / a year ago

Italy - Factors to watch on Dec. 12

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 .

POLITICS

Rome, Defence Minister Elisabetta Trenta attends presentation of ‘Cyber’ (0945 GMT).

Rome, Foreign Affairs Minister Enzo Moavero Milanesi speaks before Chamber of Deputies and Senate Foreign Affairs committees on OECD Italian presidency (1800 GMT).

Rome, Cabinet Undersecretary Giancarlo Giorgetti speaks before Chamber of Deputies Industry Committee on space and aerospace programs (1400 GMT).

Turin, Compagnia di San Paolo President Francesco Profumo delivers closing address at round-table discussion on “1988-2018 Industrial policies in Italy and Europe” (1145 GMT).

DEBT

Treasury sells 5.5 billion euros new 12-month BOT bills. Subscriptions close at 1000 GMT.

TELECOM ITALIA (TIM)

Officials due to speak before Chamber of Deputies Transport Committee on 5G broadband and ‘Big Data’ (1300 GMT). (*) Former TIM CEO Franco Bernabe said a RAB regulation for the planned single network operator would not work because it would require the likes of Fastweb and other operators to be compensated for investments they had already made, he told Il Sole 24 Ore in an interview. He also said the best solution would be for TIM to buy smaller broadband rival Open Fiber, adding a full spin-off of TIM’s network asset would “compromise the survival” of the phone group. (*) Italy’s government plans to “court” Vivendi, knowing that their approval is necessary for any plan to spin-off TIM’s network and create a single network operator, La Stampa said. Deputy PM and head of the League party, Matteo Salvini, has told his aides to let the French investor know that Rome is not an ally of activist fund Elliott, while the 5 Star Movement would be willing to “sacrifice the newly appointed CEO Luigi Gubitosi”, the paper added. Rome is also planning to up CDP’s stake in TIM in the coming months, it said.

SALVATORE FERRAGAMO

The company said on Tuesday Chief Financial Officer Ugo Giorcelli would leave the fashion group on Jan. 11. (*) Deutsche Bank cut its target price on the stock to 23 euros from 24.8 euros.

(*) MEDIOBANCA

Morgan Stanley cut its target price on the stock to 10.3 euros from 10.4 euros.

(*) UBI BANCA

Morgan Stanley cut its rating on the stock to ‘underweight’ from ‘equal-weight’.

(*) TOD’S

Deutsche Bank cut its rating on the stock to ‘hold’ from ‘buy’ and its target price to 58 euros from 66 euros.

PIRELLI & C

Executive Deputy Chairman and CEO Marco Tronchetti Provera attends news conference to present exhibition programme in Milan (1100 GMT).

CALEFFI

Board meeting on Q3 results (revenues).

FALCK RENEWABLES

“Capital Markets Day” (1400 GMT).

ESSILORLUXOTTICA

Reopens mandatory exchange offer on remaining ordinary shares of Luxottica, ends on Jan. 18, 2019.

OVS

Board meeting on Q3 results.

TECHEDGE

Institutional IPO ends.

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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