February 27, 2019 / 5:04 AM / 6 months ago

Italy - Factors to watch on Feb. 27

MILANO, Feb 27 (Reuters) - 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

The leader of Italy’s 5-Star Movement began on Tuesday to try to stem a steady slide in support since the anti-establishment party stormed to power last year, pledging to reconsider some of its hallmarks and founding principles.

ECONOMY

ISTAT releases February consumer and business confidence data (0900 GMT) and January non-EU foreign trade data (1000 GMT).

Italy needs to reduce its public debt but also stimulate growth to limit the ratio between the debt and the output, which at 131 percent is much higher than the euro zone’s average, European Central Bank policymaker Ewald Nowotny told La Stampa daily.

DEBT

Treasury sells 0.75-1.25 billion euros CCTeu bonds due Jan. 15, 2025; 1.5-2.0 billion euros 2.45 percent BTP bonds due Oct. 1, 2023; 3.25-4.0 billion euros 3.0 percent BTP bonds due Aug. 1, 2029. Subscriptions close at 1000 GMT.

FIAT CHRYSLER

Fiat Chrysler Automobiles said on Tuesday it will invest $4.5 billion in five plants to build new models of Jeeps to compete in the lucrative market for full-size, three-row SUVs currently dominated by rivals GM and Ford.

Fiat Chrysler to cut nearly 1,400 jobs at Illinois plant.

BANCA CARIGE

News conference to present new business plan with temporary administrators Fabio Innocenzi, Pietro Modiano, Raffaele Lener in Genoa (1100 GMT). (*) The bank will announce the sale of 1.8-2.0 billion euros of soured loans, for which the lender has already received offers from state-owned bad loan manager SGA and Fonspa, Il Sole 24 Ore reported. The paper cited funds BlackRock, Apollo, Vaerde Partners and Barents among investors interested in buying the lender. (*) A planned 400-million euro capital increase could not be enough for the bank, MF reported adding the lender could need a precautionary recapitalisation to survive. The bank will swing to profit in 2020 after ending 2018 and 2019 with losses, the paper said.

(*) INTESA SANPAOLO

Banking foundations that are investors in the bank will meet on Friday to discuss about the appointment of the lender’s chairman, Il Sole 24 Ore said, adding investors will likely reconfirm current chairman Gian Maria Gros-Pietro.

(*) BANCO BPM

The lender’s board members will discuss on Wednesday moves in responde to a diamond probe, Il Messaggero said.

(*) ENI

The consortium operating the giant Kashagan field in Kazakhstan, which includes Eni, is planning cost cuts of around $5 billion, MF said.

(*) HERA

The stock will be included in the Ftse MIB index in Milan, MF said. (*) IMA

IMA said on Wednesday it agreed to buy 70 percent stake in Spreafico Automation and 61.45 percent stake in Tecmar.

(*) IPO NEXI

The digital payment specialist will borrow 1.5 billion euros from a group of banks to get ready for a planned initial public offering expected by April, Il Messaggero reported.

PIRELLI

Pirelli to offer 2018 dividend of 0.177 euros per share.

SAIPEM

Board meeting on preliminary FY results (press release on Feb. 28).

ANIMA

Board meeting on FY results.

GEOX

Board meeting on FY results, followed by conference call (1630 GMT).

BANCA MONTE DEI PASCHI DI SIENA

Board meeting on FY results (published on Feb. 7).

I GRANDI VIAGGI

Annual general meeting (0900 GMT).

EPS EQUITA PEP SPAC 2

Board meeting on FY results.

GAROFALO HEALTH CARE

Board meeting on preliminary FY results.

LIFE CARE CAPITAL

Board meeting on FY results.

DIARY

Milan, “Moody’s Credit Trends Conference” (0800 GMT).

Rome, Economy Minister Giovanni Tria speaks before Senate Finance Committee on ECOFIN (1300 GMT).

Milan, first of meetings organised by ISPI with former U.N. Special Envoy for Syria Staffan De Mistura on “Peace” (1700 GMT).

Rome, Prime Minister Giuseppe Conte attends meeting on ‘Alliance for a Sustainable Development’ (0900 GMT).

Florence, conference with Intesa Sanpaolo Chairman Gian Maria Gros-Pietro, Assopopolari President Corrado Sforza Fogliani, Bank of Italy Director General and insurance sector regulator IVASS President Salvatore Rossi (0900 GMT).

Milan, “Real Estate & Finance Summit” with state lender Cassa Depositi e Prestiti CEO Fabrizio Palermo (0830 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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below