February 26, 2019 / 5:02 AM / 7 months ago

Italy - Factors to watch on Feb. 26

MILANO, Feb 26 (Reuters) - The following factors could affect Italian markets on Tuesday.

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

The centre-right looked set on Monday to win a regional vote on the Italian island of Sardinia, in an outcome that could spell trouble ahead for the 5-Star Movement, part of the ruling coalition in Rome, as European Parliament elections loom in May.

Italian Deputy Prime Minister Matteo Salvini ruled out in a newspaper interview on Tuesday a budget correction this year, adding he had full confidence in the economy minister.

ECONOMY

Talk about a budget correction is “folly and speculation”, Italy’s Economy Minister Giovanni Tria said on Monday, though adding that the country’s economy is between stagnation and recession.

Tria also said on Monday that nobody could use Italy’s gold reserves other than the European Central Bank, for financial operations.

Italy’s government will review the current tax expenditure system as part of the next budget to raise funds while it rules out a wealth tax to plug a hole in its public finances, the prime minister was quoted as saying.

DEBT

Treasury sells 6.0 billion euros six-month BOT bills. Subscriptions close at 1000 GMT.

FINCANTIERI

Full-year net profit at Italian shipbuilder rose 30 percent to 69 million euros, the company said on Monday, adding it proposed a 0.01 euro per share dividend on 2018 results.

Conference call on FY results (0800 GMT)

(*) The top management of Italian state-owned shipbuilder Fincantieri produced “extraordinary results which command the utmost respect,” the country’s prime minister said in a newspaper interview.

(*) TELECOM ITALIA

Shareholder Vivendi would like to bring back Amos Genish as CEO, La Stampa and MF reported quoting sources close to Elliott.

Il Sole 24 Ore said Vivendi had started gathering proxy votes to remove Telecom Italia’s current board and quoted a Vivendi spokesman as saying the French group did not oppose CEO Luigi Gubitosi but rival shareholder Elliott and its directors.

(*) FINCANTIERI, LEONARDO

Prime Minister Giuseppe Conte also reiterated in an interview with Il Sole 24 Ore that a merger between Fincantieri and Leonardo is not on the government’s agenda.

(*) CREDEM

A spokesman for the bank on Tuesday denied any interest for Carige after Credem was mentioned in the press as potentially interested in the ailing rival.

A2A

Board meeting on preliminary FY results.

INTESA SANPAOLO

Board meeting on FY results (preliminary results on Feb. 5).

PIRELLI & C

Board meeting on FY results (preliminary results on Feb. 14).

PARMALAT

Parmalat shares will stop trading as of March 5, the company said on Monday.

GEAR 1

Debuts on AIM segment.

BIESSE

Board meeting to approve 2019-2021 business plan (1000 GMT).

AUTOSTRADE MERIDIONALI

The toll road operator will continue to operate Italy’s A3 motorway as an administrative court confirmed the exclusion of offers for a new concession both from Autostrade Meridionali and from rival consortium SIS, the company said on Monday.

Board meeting on FY results.

IGD

Board meeting on FY results.

INDEL B

Ordinary shareholders’ meeting (1030 GMT).

DIARY

Rome, former U.N. Special Envoy for Syria Staffan De Mistura receives prize for peace by ISPI and gives speech; Senate Speaker Maria Elisabetta Alberti Casellati and ISPI and Fincantieri Chairman Giampiero Massolo due to speak (1030 GMT).

Rome, Senate Finance Committee meets to give an opinionthe appointment of Paolo Savona as President of market regulator Consob (0730 GMT).

Trieste, round-table discussion on “The China-Italy Business Relationship” with Costa Group CEO Michael Thamm, Fincantieri CEO Giuseppe Bono, Candy Group CEO Beppe Fumagalli, Ansaldo Energia CEO Giuseppe Zampini; Foreign Affair Ministry Undersecretary Manlio Di Stefano (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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