December 27, 2018 / 5:00 AM / 6 months ago

Italy - Factors to watch on Dec. 27

The following factors could affect Italian markets on Thursday.

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

(*) Italy’s 2019 budget will be discussed on Thursday by the Chamber of Deputies’ Budget Committee before moving to the floor on Friday with the government aiming for final approval by Nov. 29.

(*) Sergio Mattarella, the president of the Italian Republic, is concerned about how the government rushed the 2019 budget through parliament but does not want to slow down its approval and is considering signing off on the bill with a letter of reprimand, La Stampa reported.

ECONOMY

Assogestioni expected to release November fund flows data.

DEBT

Treasury sells 6.5 billion euros six-month bills and 1.5-2.0 billion euros zero-coupon bonds due Nov. 27, 2020. Subscriptions close at 1000 GMT.

Italy could issue new government bonds with maturities of 15 or 30 years via syndication in 2019 if market conditions allow it, the country’s Treasury said on Friday in its public debt guidelines for next year.

COMPANIES

Bourse After Hours market closed.

Milan Stock Exchange rebalances FTSE/MIB Index as of Thursday.

ENEL

Enel Green Power, a unit of the Italian utility, sold its 50 percent stake in joint venture EF Solare Italia to infrastructure fund F2i for 214 million euros.

BANCA CARIGE

Italy’s Banca Carige has discussed with European Central Bank supervisors the rejection of a cash call needed to safeguard the troubled Italian lender’s future, a source familiar with the matter said on Monday.

(*) The lender’s top executives as well as its single biggest shareholder will soon meet with ECB’s representatives in Frankfurt, Italian newspapers reported.

The top investor in Banca Carige on Saturday blocked a crucial cash call at the troubled Italian bank from being approved because it wanted more clarity on the lender’s future before backing a new capital injection.

The ECB on Friday approved Carige’s capital plan and said the lender had until the end of 2019 to durably meet its capital targets but had to

The Italian lender agreed a debt restructuring deal with Gruppo Messina envisaging a gradual repayment of debt owed by the shipping group.

Carige on Friday appointed Massimo Genovese as its new chief financial officer.

(*) SAFILO GROUP

The eyewear group said on Thursday it had renewed its licence accord with Tommy Hilfiger until Dec. 31, 2025.

JUVENTUS, ADIDAS

The Italian football team and the German sportswear firm have extended their partnership agreement to June 2027 form June 2021. During this period Adidas will be technical partner of Juventus for a minimum fixed consideration of 408 million euros. Adidas will also pay an additional bonus of 15 million euros related to 2018 performance.

RECORDATI

The majority of the drugmaker’s board deemed the price of a 27.55 euros per share tender offer launched by Rossini Investimenti not adequate. The company said it planned to reach a net profit of 300-335 million euros in 2019.

DAMIANI

The company reported a net loss of 5.9 million euros for the first half, versus a 4.9 million euros loss in the same period of last year.

IVS GROUP

The food vendor machine group signed a bank loan contract for a total amount of 150 million euros, of which 100 million euros for acquisitions, with an availability period of 18 months.

TAMBURI

A company participated by Tamburi sold its stake in lighting group iGuzzini Illuminazione to Fagerhult for 385 million euros.

GO INTERNET

Extraordinary shareholders’ meeting (1100 GMT).

Trade ex-dividend: ASSITECA of 0.07 euro per share; DIASORIN of 1.80 euro per share as extraordinary 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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