February 28, 2019 / 5:01 AM / 6 months ago

Italy - Factors to watch on Feb. 28

MILANO, Feb 28 (Reuters) - 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

Deputy Prime Minister Luigi Di Maio said in an interview with la Repubblica that a VAT increase would be “unacceptable” and the government would make sure it doesn’t happen. He added he stood by Economy Minister Giovanni Tria’s comments that a budget correction won’t be necessary this year.

The European Commission is unlikely to open an infringement procedure against Italy for public finance slippage but will probably request a correction of this year’s budget, daily La Repubblica reported.

ECONOMY

ISTAT releases flash February CPI and HICP data (1000 GMT).

Reuters releases February asset allocation poll (1200 GMT).

BANKS

Italy is preparing a decree to renew and possibly modify a state guarantee scheme designed to help its banks shed a mountain of bad loans, two sources close to the matter said on Wednesday.

Italian Economy Minister Giovanni Tria said on Wednesday that European Union “bail-in” rules covering failing banks should be scrapped.

BANCO BPM

Banco BPM said director general Maurizio Faroni and two other managers were suspended from service following a judicial inquiry into diamonds sales to customers. The lender added its board’s decision was purely precautionary and the bank had confidence in the prosecutors’ actions.

BANCA CARIGE

Temporary administrators of Banca Carige said they had to find a buyer by April for the Italian bank, after unveiling a 630 million euro ($718 million) capital shortfall.

ENEL

The board of Enel Americas has called an extraordinary shareholder meeting for April 30 to approve an up to $3.5 billion capital increase.

GENERALI

European insurers Allianz and Generali are vying with U.S. rival Liberty Mutual to invest in the bancassurance business of Spanish lender BBVA, four sources familiar with the matter told Reuters.

SAIPEM

The Italian oil services group said on Thursday it expected higher sales this year after beating 2018 forecasts and said it was looking for market opportunities.

BPER BANCA

Italy’s BPER Banca said it targeted a 450 million euro profit ($512 million) in 2021 by focusing on insurance and wealth management products to boost fees and offset weak growth in its interest income.

MAIRE TECNIMONT

The engineering group said it had won a reimbursable EPC contract worth $65 million.

FIAT CHRYSLER

The carmaker will be excluded from the FTSE Eurotop 100 index effective March 18, FTSE Russell said in a statement.

HERA, BREMBO

The company will be included in the FTSE EuroMid index effective March 18, FTSE Russell said in a statement.

Hera to replace Brembo in the FTSE MIB index effective March 18, FTSE Russell said.

IL SOLE 24 ORE

Italian prosecutors have asked for the publisher of Italy’s best-selling financial daily Il Sole 24 Ore S24.MI to be tried for alleged market manipulation and false accounting, two sources with knowledge of the matter said on Wednesday.

MEDIASET ESPANA, MEDIASET

Spanish broadcaster Mediaset Espana TL5.MC said on Wednesday its gross advertising revenue was broadly stable in 2018 thanks to the FIFA World Cup in Russia, despite more competition from digital players.

BANCA MEDIOLANUM

Board meeting on FY results (0900 GMT - published on Feb. 11).

MONCLER

Board meeting on FY results, followed by conference call (1700 GMT).

RECORDATI

Board meeting on FY results (preliminary results on Feb. 11).

I GRANDI VIAGGI

Shareholders did not approve the company’s listing on the Star segment of the Italian bourse and did not approve a share buyback, the company said on Wednesday.

GAROFALO HEALTH CARE

The company said 2018 operating adjusted EBITDA sttod at 29.1 million euros.

GEOX

The company reported a 2018 net loss of 5.3 million euros compared with a profit of 15.4 million euros a year earlier.

JUVENTUS FC

Board meeting on H1 results.

DIGITAL BROS

Board meeting on Q1 results.

CULTI MILANO

Board meeting on FY results.

MASSIMO ZANETTI

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

DIARY

Pomigliano D’Arco, conference on “Leonardo Aerostructures: Innovate the Present Looking to the Future” with Prime Minister Giuseppe Conte, Deputy Prime Minister and Industry Minister Luigi Di Maio, Leonardo Chairman Giovanni De Gennaro, CEO Alessandro Profumo (0930 GMT).

Rome, Prime Minister Giuseppe Conte attends presentation of “Security Information Political Report” (0900 GMT).

Naples, Deputy Prime Minister and Industry Minister Luigi Di Maio attends “National convention of anti-racket associations” (1600 GMT).

Monfalcone, Fincantieri CEO Giuseppe Bono attends news conference to present cruise ship ‘Costa Venezia’ (0900 GMT); Deputy Prime Minister and Interior Minister Matteo Salvini expected to attend the cutting of the ribbon (1000 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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