February 1, 2018 / 7:38 AM / 7 months ago

Italy - Factors to watch on Feb. 1

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

Italian and French Industry ministers expected to meet on the evolution of the agreement in the military field in Rome (1500 GMT).

Former Italian prime minister Silvio Berlusconi called off an appearance on a top television chat show on Wednesday, his second such cancellation this week, raising concerns about his health ahead of national elections.

The leader of Italy’s 5-Star Movement told international investors on Wednesday that he would be willing to govern with mainstream parties of left and right if a March 4 election produces no clear winner, a source told Reuters. Di Maio later denied he had said he was willing to make post-election alliances with other parties, but said he would be willing to negotiate with them on policies.

The leader of the League Matteo Salvini reiterated that should the centre-right coalition lose at the vote, his party would not be seek an alliance with the 5-Star Movement, Corriere della Sera reported.

ECONOMY

Italian Economy Minister Pier Carlo Padoan said on Wednesday he was concerned about proposals to differentiate the levels of risk attached to government bonds of different countries that banks hold in their portfolios.

Markit/ADACI releases January PMI manufacturing (0845 GMT).

Transport Ministry releases January car sales data (1700 GMT).

Economy Minister Pier Carlo Padoan attends presentation of services and 2017 results by tax agency ‘Agenzia delle Entrate’.

Conference on “Big Italian Companies and Europe” with Economy Minister Pier Carlo Padoan, Intesa Sanpaolo Chairman Gian Maria Gros-Pietro, Enel President Patrizia Grieco, Eni President Emma Marcegaglia, FCA Chairman John Elkann, Leonardo CEO Alessandro Profumo in Rome (0730 GMT).

DEBT

January state sector borrowing requirement data.

ENEL

Italy’s biggest utility will double its investments in Italy in the period 2017-2020 to 12 billion euros ($15 billion), the group’s CEO Francesco Starace said on Wednesday.

The group said it would “take a look” at Eneco if the Dutch energy group decides what it wants to do.

(*) TELECOM ITALIA (TIM)

A project to confer all of the group’s network assets into a separate company controlled by TIM - which has already been presented to regulator AGCOM - could be examined at the board meeting of Mar. 6, the same which will approve the group’s new strategic plan, Il Sole 24 Ore reported. It added that on that same day the board will re-assign the powers over security and unit Sparkle given up by Deputy Chairman Giuseppe Recchi.

RBC cut on Thursday the group’s target price to 1.20 euros from 1.25 euros.

MEDIASET

Vivendi’s CEO Arnaud de Puyfontaine is optimistic about ongoing talks with the Italian broadcaster to find a deal over a failed pay-TV agreement, the executive said on Wednesday.

MEDIASET, TELECOM ITALIA

Europe needs to build strong cross-border champions in media and telecoms or else it will by swallowed up by competitors from across the Atlantic or China, the chief executive of French media group Vivendi said on Wednesday.

ATLANTIA

The group will consider all options regarding its bid on Abertis once a rival offer launched by Germany’s Hochtief on the Spanish company is approved, the Italian group’s chief executive said on Wednesday.

FERRARI NV

Board meeting on Q4 and FY results, followed by conference call (1600 GMT).

LEONARDO

Rating agency Fitch said on Wednesday that the downward revision of the aerospace and defence company’s expected free cash flow in 2018 will not have an immediate effect on the company’s ratings (BBB-/Stable).

SALVATORE FERRAGAMO

The luxury goods group said on Wednesday that 2017 preliminary revenues fell 3.1 percent, dragged by the group’s sales in the last three months of the year, as it struggles with its ambitious new strategy. (*) Jefferies on Thursday cut the group’s share to ‘underperform’ from ‘hold’ and cut the target price to 19 euros from 21 euros.

(*) BANCA CARIGE

The lender last November risked a lot from a liquidity point of view as for hours the bank experienced a bank run, CEO Paolo Fiorentino is quoted as saying on Wednesday by Il Sole 24 Ore. The CEO also said that the ECB addendum will increase the cost of non-guaranteed credit with fall-outs on families, the report added.

UBI BANCA

Further consolidation in the banking industry is inevitable to help the sector cope with rising regulatory costs and the required hefty investments in technology, the head of Italy’s UBI Banca said on Wednesday.

CREDITO VALTELLINESE

The lender said on Wednesday Banco Santander, Barclays and Credit Suisse have entered the guarantee consortium for its share issue.

(*) UNIPOL

Barclays raised on Thursday the group’s target price to 4.10 euros from 4 euros.

BANKING SECTOR

European Union banks will face the toughest “stress test” of their ability to withstand theoretical shocks this year, including the impact of Britain’s exit from the bloc, the EU’s banking watchdog said on Wednesday.

(*) IL SOLE 24 ORE

The publisher does not plan further extraordinary operations, the group’s Chief Executive Franco Moscetti said on Wednesday.

The group said on Wednesday its net financial position at the end of December was up to 6.6 million euros pushed by the sale of a 49 percent share of its Business School24 unit and a share issue.

(*) RCS MEDIAGROUP

Chairman and CEO Urbano Cairo is quoted as saying by some dailies that the publisher’s advertising revenues grew in 2017, “though only by decimal points”.

(*) CNH INDUSTRIAL

The group announced on Thursday a partnership with Microsoft for a new CNH industrial delivery platform, powered by Microsoft Azure cloud, to provide easy access to vehicle data which will be used to streamline business operations.

ENI

Israel described as “very provocative” on Wednesday a Lebanese offshore oil and gas exploration tender in disputed territory on the countries’ maritime border, and said it was a mistake for international firms to participate. Lebanon in December approved a bid by a consortium of France’s Total , Italy’s Eni and Russia’s Novatek for two of the five blocks put up for tender in the country’s much-delayed first oil and gas offshore licensing round.

AMPLIFON

The company said on Wednesday it signed the advance agreement for the so-called “Patent Box” tax benefit regime for the years 2015-2019.

BRUNELLO CUCINELLI

Chairman Brunello Cucinelli attends conference on “The New Social Company: Scenario Changes and Markets Changes” (1300 GMT).

JUVENTUS FC

The club said on Wednesday it had reached an agreement with Italy’s Atalanta for the definitive disposal of the player Federico Mattiello.

SS LAZIO

AC Milan and Lazio drew 0-0 in the first leg of their Coppa Italia semi-final at San Siro on Wednesday.

(*) AS ROMA

Sporting Clube de Portugal said on Wednesday it reached a deal with the Italian club to send player Jonathan Silva on loan until the end of the sport season.

The club said on Wednesday it had sold player Hector Moreno to Real Sociedad de Futbol.

RISANAMENTO

Board meeting on FY results.

ALP.I

Debuts on AIM segment.

SPAXS

Debuts on AIM segment.

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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