December 14, 2018 / 5:03 AM / a year ago

Italy - Factors to watch on Dec. 14

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 (*) The Italian government is “happy” to be able to lower its deficit target for next year, Deputy Prime Minister Luigi Di Maio said on Friday in a newspaper interview. (*) Italy’s surprise decision to sharply cut its budget deficit goal does little to address the problems of its finances or a deeper debate over EU fiscal rules, but may serve the real purpose of easing market pressure,playing for time.

Deputy Prime Minister and Industry Minister Luigi Di Maio speaks before state broadcaster RAI Supervisory Committee (1000 GMT).

EVENTS

ISTAT releases October orders and sales data (0900 GMT) and November final CPI and HICP data (1000 GMT).

Bank of Italy releases October data on public finances, state borrowing and debt.

Reuters releases December asset allocation poll (1200 GMT).

‘Rome Investment Forum’ starts conference on “Invest in Europe” (0800 GMT); ends on Dec.15. ECB Supervisory Board member Ignazio Angeloni gives speech at plenary session at Rome Investment Forum 2018 “Invest in Europe” on “Fixing the European Dream: Economic and Monetary Union, Banking Union, Capital Markets Union, and What Else?”; Luxembourg Finance Minister Pierre Gramegna, Italian Economy Minister Giovanni Tria, state lender Cassa Depositi e Prestiti (CDP) Deputy Chairman Luigi Paganetto, EU Investments Bank (EIB) Director General Luca Lazzaroli, French Caisse des Dèpots Director Laurent Zylberberg, S&P Global Ratings Italian Country Manager Roberto Paciotti also expected to attend.

Rome, welfare institute INPS ends 120th year anniversary celebration with President Tito Boeri, Culture Ministero Alberto Bonisoli, Bank of Italy Governor Ignazio Visco (0900 GMT).

ECONOMY

The European Commission and Italy are working to reach a deal quickly on the country’s 2019 budget, the two sides said on Thursday, after Rome offered to cut its deficit target to avoid disciplinary action by Brussels.

ATLANTIA

Autostrade per l’Italia said its board has authorised the company to file a legal challenge against a government decree that excludes it from rebuilding a collapsed bridge in Genoa.

(*) FINCANTIERI, SALINI

The project proposed by the consortium comprising Fincantieri, Salini and Italferr is set to win the race to rebuild the Genoa bridge, La Repubblica said. (*) FIAT CHRYSLER

Volkswagen, Renault and Fiat Chrysler led an 8.1 percent decline in European car sales in November, the main regional industry body said on Friday, as the introduction of tougher new emissions tests continued to weigh on demand.

(*) TELECOM ITALIA

The names of the board members shareholder Vivendi intends to revoke should be made public on Friday. Il Sole 24 Ore says they will include chairman Fulvio Conti.

SALINI IMPREGILO

Italy’s biggest construction company Salini Impregilo does not expect any impact from Wednesday’s Panama Canal arbitration award beyond a worst-case scenario of $334 million.

LEONARDO

The Defense group said on Thursday that the board approved the creation of the new Electronics Division, reporting directly to the CEO. It also appointed Barbara Poggiali as the head of the Cyber Security Division.

BANCA CARIGE

Fitch Ratings said on Thursday it had affirmed Banca Carige’s long-term Issuer Default Rating (IDR) at ‘CCC+’. Carige’s Viability Rating (VR) has been downgraded to ‘f’ from ‘c’ and subsequently upgraded to ‘ccc+’.

OVS

Italian fast fashion group OVS lost over a third of its market value on Thursday after it reported a contraction in 9-month sales and profitability and warned that unfavourable market conditions would continue next year.

SALVATORE FERRAGAMO

Italian fashion group Salvatore Ferragamo said on Thursday insider Alessandro Corsi would be new chief financial officer and strategic director as of Jan. 11.

BANCO BPM

DBRS Ratings Limited said on Thursday it confirmed the ratings of Banco BPM, including the Long-Term Issuer Rating of BBB (low) and the Short-Term Issuer Rating of R-2 (middle), and changed the Trend to Stable from Negative.

ENEL

Europe’s biggest utility Enel and Chinese electric vehicle giant BYD on Thursday marked the arrival of 100 electric buses in Chile and said they would work together on similar plans for three other Latin American nations.

DOMINION HOSTING HOLDING

Board meeting to approve 2019 budget.

TERNIENERGIA

Bond holders’ meeting (1000 GMT).

Ordinary shareholders’ meetings: FINE FOOD & PHARMACEUTICALS (1300 GMT), UBI BANCA (0900 GMT).

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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