December 17, 2018 / 5:02 AM / 8 months ago

Italy - Factors to watch on Dec. 17

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

Milan, Deputy Prime Minister and Industry and Labor Minister Luigi Di Maio gives speech at “StartupItalia! Open Summit 2018”.

Rome, Deputy Prime Minister and Interior Minister Matteo Salvini chairs National Committee for Public Order and Security(1130 GMT).

Italy would have to hold new elections if the ruling coalition falls, Italy’s Cabinet Undersecretary Giancarlo Giorgetti was quoted as saying on Friday.

ECONOMY

ISTAT releases October foreign trade data (0900 GMT).

Rome, Senate Budget Committee starts mini-budget examination.

COMPANIES

Bourse After Hours market closed.

TELECOM ITALIA

French media giant Vivendi called on Friday for the replacement of five of Telecom Italia’s (TIM) board members put forward by U.S. activist fund Elliott, citing a “substantial lack of independence”.

On Sunday, La Stampa newspaper reported that Vivendi was pushing for a board meeting on the issue before Christmas, but TIM is seeking to push discussion back to Jan. 17.

MEDIASET

Top shareholder Fininvest has bought an additional 0.9 percent of the broadcaster in November, Reuters calculations showed, based on a regulatory filing.

BANCA MONTE DEI PASCHI DI SIENA, BANCO BPM , UBI BANCA

DBRS upgraded UBI Banca’s and Banco BPM’s deposit ratings and Monte dei Paschi’s long-term deposit rating.

ENI

Qatar Petroleum (QP) signed on Sunday an agreement with ENI to buy a stake in three offshore oilfields in Mexico. Under the deal, QP will acquire a 35 percent stake in the Mexican oilfields, where production is expected to start by mid-2019 and ramp up to 90,000 barrels per day by 2021, QP CEO Saad al-Kaabi said at a news conference in Doha.

SALINI IMPREGILO, ASTALDI

Astaldi has applied for a 60-day extension to present rescue plan and said Salini Impregilo and IHI Corporation had presented non-binding offers, confirming an earlier source-based Reuters report.

The company’s chief executive officer, Pietro Salini, confirmed to la Repubblica newspaper in an interview on Sunday that Salini has made a “first proposal” to purchase Italy’s troubled builder Astaldi.

Salini, Italy’s biggest construction company, is seeking the support of “bankers and institutions” to rescue Astaldi, and is preparing to make a “more articulated” offer, Salini said.

Salini also said a recent decision by an arbitration tribunal regarding a dispute with the Panama Canal Authority that will cost the company hundreds of millions of euros was “not a new cost and not unforeseen”.

GENERALI

Europe’s biggest insurers successfully withstood the latest tests of their ability to cope with severe market shocks, the European Union’s insurance watchdog said on Friday.

(*) PIRELLI

The tyre maker expects to reach a debt to EBITDA ratio of 2.3-2.4 times by the end of this year, CEO Marco Tronchetti Provera told Affari&Finanza in an interview. He also said the company was safe from any trade fluctuations given its ‘local for local’ structure.

(*) MAIRE TECNIMONT

The company was awarded a 200 million euro fertilizer project in Russia by Volgafert, it said in a statement on Monday.

STEFANEL, OVS

Italian clothing groups Stefanel and OVS face an urgent quest to convince investors that they can overhaul their business models after trading disappointments.

INTESA SANPAOLO

CEO Carlo Messina attends news conference to present details of project against youth poverty “Quanto Basta” in Milan (1000 GMT).

(*) MONCLER

Morgan Stanley raised its recommendation on the stock to ‘overweight’ from ‘equal weight’.

(*) SALVATORE FERRAGAMO

Morgan Stanley cut its recommendation on the stock to ‘underweight’ from ‘equal-weight’, target price to 16.50 euros from 18 euros.

(*) TOD’S

Morgan Stanley cut its target price on the stock to 37 euros from 55 euros.

BANCA INTERMOBILIARE

Ends capital increase.

CHL

Ends capital increase.

FILA

Ends capital increase (started on Dec. 3).

SAFILO

Ends capital increase.

Extraordinary shareholders’ meetings: CONAFI PRESTITO (0930 GMT), ENERTRONICA (0930 GMT).

Trade ex-dividend: STMICROELECTRONICS of 0.06 U.S. dollar per share (as quarterly dividend); BENI STABILI of 0.021369 per share as interim 2018 dividend; PLC of 0.0833 euro per ordinary share as special dividend.

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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