February 14, 2018 / 5:02 AM / 8 days ago

Italy - Factors to watch on Feb. 14

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

Italy’s anti-establishment 5-Star Movement came under fire from opponents on Tuesday following media reports that some of its parliamentarians had broken party rules obliging them to give half their salaries to a fund to help small businesses.

The Northern League, a key partner in the coalition expected to win next month’s parliamentary election, would aim to pull Italy out of the European Union if Brussels refused to re-negotiate fiscal and immigration rules, its economics chief said.

The economic promises from all Italy’s main parties rely on overly optimistic assumptions about inflation and interest rates, a former government spending adviser who is being courted by various parties said on Tuesday.

Prime Minister Paolo Gentiloni meets European Council President Donald Tusk in Rome (1230 GMT).

ECONOMY

ISTAT releases flash Q4 GDP data (0900 GMT).

COMPANIES

ATLANTIA

TCI Fund Management owned an indirect stake of 5.05 percent in Atlantia on Feb. 5, a regulatory filing by Italian market watchdog Consob showed on Tuesday.

TELECOM ITALIA

The phone group has pushed to Feb. 15 a deadline for the binding bids on its broadcasting unit Persidera, three sources close to the matter said on Tuesday. France’s Vivendi, the biggest investor in TIM, has filed an appeal to Italy’s head of state against the government’s so-called “golden power” decree, a source with knowledge of the matter said on Tuesday.

ENI

Turkish President Tayyip Erdogan on Tuesday warned Cyprus not to “overstep the mark” in the eastern Mediterranean, after Greek Cypriots accused the Turkish military of obstructing an Italian vessel exploring for natural gas over the weekend.

(*) CREDITO VALTELLINESE

The bank is likely to offer share in a planned 700 million euro capital increase at a discount to TERP of around 15 percent, Il Sole 24 ore said. The company’s board is expected to decide on the price for the share issue later on Wednesday, the paper added.

Il Messaggero adds that the bank aims for a price to book value of between 0.4-0.47 through the cash call.

In a separate article, Il Sole 24 Ore adds that Credit Agricole Italia gave up on its interest in Creval ahead of the capital increase and is yet to be seen if it looks at it again after the cash call.

(*) BANCA CARIGE

Between 2-4 institutional investors have accumulated a stake of at least 5 percent each in the bank since Dec. 27, Il Messaggero said. An announcement on the matter could come in the coming hours, the paper added.

MF also said some institutional funds had built up positions in the bank that were not “marginal”, betting on future upside that could come from a potential tie-up with another lender.

(*) POPOLARE DI VICENZA, VENETO BANCA

Nomura was given the mandate to manage the sale of the nearly 40 percent combined stake in Arca Sgr in the hands of the former Veneto banks, Il Messaggero said, adding the process would be conducted through a competitive auction.

(*) MONCLER

The company launched a new project called ‘Moncler Genius’, a group of creative designers that would shape the brand’s new strategy, focusing on monthly issues of new products.

ENEL

Board meeting on preliminary FY results.

EDISON

Board meeting on FY results.

CEMENTIR

Board meeting on preliminary FY results.

INTERPUMP GROUP

Board meeting on Q4 results.

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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