February 5, 2018 / 5:04 AM / 17 days ago

Italy - Factors to watch on Feb. 5

The following factors could affect Italian markets on Monday.

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 ruling centre-left Democratic Party (PD), trailing in opinion polls ahead of a March 4 ballot, said on Friday it would help families, boost pensions and introduce a minimum wage if it won re-election. Former prime minister Matteo Renzi accused his rivals of making unrealistic promises as he unveiled the PD’s 100-point election manifesto.

The far-right League comes under pressure after a shooting spree in Macerata injures six African migrants. The shooter had links to the League and critics say League leader Matteo Salvini’s anti-migrant rhetoric fueled hate.

ECONOMY

Markit releases January service Pmi data (0845 GMT).

A group of hedge funds have stepped up bets against a string of Italian banks, taking a contrary stance against a sector and broader market on the rise ahead of an election which could yet rattle investors.

COMPANIES

FINCANTIERI

The Italian shipbuilder said on Friday it had bought a 50 percent share in STX shipyards from France, in a deal expected to broaden an alliance between the naval industries of the two nations.

CEO Giuseppe Bono said he is looking to build business in Germany and that the shipbuilding group won’t stop with STX deal, speaking in an interview with La Stampa on Saturday. (*) The deal that was reached is a “magnificent Franco-Italian creation” and the second step is the creation of a “champion in the military naval sector”, French Finance Minister Bruno Le Maire said in an interview to La Stampa on Monday. (*) A new meeting to discuss an alliance between the two countries will be held in mid-February, with the CEOs of Fincantieri and Naval, representatives of the French State, Italy’s state lender CDP and navy representatives participating, Affari&Financa-la Repubblica reported. By mid-June a road map will be outlined, it added.

INTESA SANPAOLO

Board meeting on preliminary FY results and business plan. Press release on results and business plan expected on Feb. 6.

Il Messaggero reported the plan will prioritize dividend payments, with up to 70 percent of profits handed back to shareholders. (*) The industrial plan will include cuts in costs and bad loans but will also focus on growth, with the aim of developing the lender’s insurance business and asset management, Il Sole 24 Ore reported on Sunday. Analysts profits of 5-5.5 billion in 2021 and a dividend of 3.4 billion, it added.

BANCA CARIGE

The lender said on Friday it had signed an IT outsourcing agreement with IBM and approved the guidelines to its 2018 budget. It said it confirmed its 2017-2020 industrial plan targets. (*) The bank’s biggest shareholder, Vittorio Malacalza, is pushing to get a discount on the banking commissions to be paid for the lender’s share issue, Corriere della Sera reported on Saturday, citing sources with knowledge of the matter.

CREDITO VALTELLINESE

Board meeting on preliminary FY results. (*) The lender said on Friday Commerzbank, Jefferies and Keefe, Bruyette & Woods and Equita SIM joined the guarantee consortium for its share issue.

(*) TELECOM ITALIA

Former Poste CEO and now government advisor Francesco Caio is working with the Development Ministry over the options available to TIM regarding its fixed line network, L‘Economia-Corriere della Sera reported.

(*) POSTE ITALIANE

CEO Matteo Del Fante will focus on digital and mobile payments, the group’s “fourth growth pillar”, in the industrial plan, his first, which is expected to be presented in less than three weeks, Affari &Finanza- la Repubblica reported. A plan for postal savings certificates and books, for which revenues in 2017 have fallen, are also in the CEO’s mind, the report adds.

(*) DeA Capital, GENERALI

DeAgostini could consider a possible sale of its 1.7 percent share in Generali if the group had “new opportunities of investment”, Affari&Finanza-la Repubblica reported.

(*) BRUNELLO CUCINELLI

Digital sales represent 6 percent of the luxury goods maker’s revenues, with the percentage to triple in the next 4-5 years, Il Sole 24 Ore reported on Sunday.

(*) ENAV

The group will give guidance on its 2018 dividends along with its 2017 full-year results on March 12, CEO Roberta Neri said in an interview with Il Sole 24 Ore on Sunday.

(*) LEONARDO

Barclays on Monday cit its price target to 10 euros from 12 euros.

(*) FERRARI

Jefferies raised on Monday its price target to 125 euros from 110 euros.

UBI

Fitch affirmed the lender at ‘BBB-', on negative outlook, on Friday.

(*) ITALGAS

Credit Suisse raised the price target to 5.30 euros from 5.20 euros on Monday.

PRELIOS

Lavaredo Spa full mandatory takeover bid on Prelios shares starts; ends on March 2.

SINTESI

Annual general meeting (0930 GMT).

JUVENTUS FC

The club’s Gonzalo Higuain scored a second-half hat-trick as the champions routed hapless Sassuolo 7-0 in Serie A on Sunday.

ALITALIA

Delta Air Lines has hooked up with Air France-KLM and EasyJet and is expected to present a joint offer for Alitalia next month after Italy’s national elections, Corriere della Sera reported on Saturday.

BANKING SECTOR

More than 5,000 people and entities, including the Bank of Italy, were accepted by a judge as civil plaintiffs in the trial into the collapse of Popolare di Vicenza, Corriere della Sera reported on Sunday.

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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