February 22, 2019 / 5:01 AM / a year ago

Italy - Factors to watch on Feb. 22

MILANO, Feb 22 (Reuters) - 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 .

ECONOMY

Rating agencies Fitch reviews sovereign debt rating on Italy.

DEBT

Treasury sells 1.75-2.25 billion euros CTZ bonds due Nov. 27, 2020 and 0.75-1.25 billion euros following two BTPei bonds due May 15, 2023 and Sept. 15, 2032. Subscriptions close at 1000 GMT.

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on Feb. 27.

TELECOM ITALIA (TIM)

Telecom Italia (TIM) on Thursday pledged to accelerate cost cutting, increase shareholder returns, cut debt and grow core profits from next year in the first three-year strategy plan under new Chief Executive Luigi Gubitosi.

The group said organic core profits came in at 8.1 billion euros last year.

Conference call on FY results (1300 GMT).

Telecom Italia and Vodafone said on Thursday they plan to enter into a new infrastructure sharing partnership to enable faster deployment of fifth-generation mobile phone services over a wider geographic area and at a lower cost.

*TIM has begun exclusive talks with infrastructure fund F2i over the sale of the telecom group’s broadcasting unit Persidera, though F2i’s offer is not binding, according to Il Sole 24 Ore. Other bidders include ISquared and Rai Way.

BREAKINGVIEWS: Telecom Italia boss Luigi Gubitosi is sending the right signals. The chief executive, who was selected as a director last year by U.S. activist investor Elliott Management, is looking to cut costs by sharing mobile and fixed-line infrastructure with rivals Vodafone and Open Fiber. With Italy’s economy technically in recession and competition increasing, that’s a sensible strategy. It also will make it harder for begrudged shareholder Vivendi to regain board control at a shareholder meeting next month.

ENI

Libya’s El Feel oilfield is still producing some 75,000 barrels a day and there has been no fighting in the area contrary to what some local media have reported, a field engineer there told Reuters by telephone on Thursday. Libya’s National Oil Corporation (NOC) operates the field in a joint venture with Italy’s Eni.

Nigeria has ordered foreign oil and gas companies, including Eni, to pay nearly $20 billion in taxes it says are owed to local states, industry and government sources said, in a move that could deter investment in Africa’s largest economy.

MONTE DEI PASCHI DI SIENA

*Lender Monte dei Paschi di Siena is ready to sell two parcels of unlikely-to-pay loans with a total face value of around 500 million euros, with the first to be unveiled as soon as next week and the second by the end of next month, financial daily MF said on Friday.

FERRAGAMO

The fashion house said on Thursday it appointed Paul Andrew creative director of the brand.

INWIT

The telecom masts company said on Thursday it sees combined capex of 250-300 million euros over its 2019-21 plan.

Conference call on FY results (1530 GMT).

BPER

Fitch Ratings has placed Unipol Banca ‘BB+’ Long-Term Issuer Default Rating (IDR) on Rating Watch Negative. At the same time Fitch has affirmed BPER Banca Long-Term IDR at ‘BB’. BPER outlook is Positive.

LEONARDO

Fitch Ratings has affirmed Leonardo’s Long-Term Issuer Default Rating (IDR) and senior unsecured rating at ‘BBB-‘ and Short-Term IDR at ‘F3’. The Outlook on the Long-Term IDR is Stable.

ITALGAS

Board meeting on FY results, followed by conference call (1430 GMT).

COIMA RES

Conference call on FY results (1400 GMT).

CLASS EDITORI

Takeover offer on Gambero Rosso shares ends (started on Feb. 4).

LVENTURE GROUP

Ordinary and extraordinary shareholders’ meetings (0800 GMT).

VISIBILIA EDITORE

Extraordinary shareholders’ meeting (0830 GMT).

DIARY

Bologna, ECB President Mario Draghi receives honorary law degree by Bologna University (1530 GMT).

Rome, Prime Minister Giuseppe Conte attends meeting with Italian mayors (1000 GMT).

Rome, Tor Vergata University holds XXXVI academic year inaugural ceremony with Economy Ministry Giovanni Tria (1000 GMT).

Milan, conference on job with Casaleggio Associati Chairman and Russeau Association founder Davide Casaleggio; RCS MediaGroup and Cairo Communication Chairman Urbano Cairo delivers closing address (1400 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:............................... (Reporting By Viviana Venturi)

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