January 16, 2020 / 5:03 AM / 2 days ago

Italy - Factors to watch on Jan. 16

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 .

ECONOMY

The new 30-year BTP bond Italy sold on Wednesday met strong demand from international investors, underlining interest in long term Italian government debt, a Treasury official said. He said 7 billion euros were issued, with demand totalling around 45 billion euros.

ATLANTIA

The board of the motorway unit Autostrade per l’Italia will meet on Thursday to discuss an industrial plan for the coming four years, two sources said.

Atlantia’s own board is scheduled to meet on Friday and will discuss the motorway concessions, two other sources said.

Benetton-led Atlantia is ready to reopen talks with the government on motorway toll cuts, two sources said on Wednesday, as Italy’s biggest infrastructure group seeks to resolve a bitter dispute over its concessions.

(*) The government wants the Benetton family to take a step back to solve the problem of Autostrade and the threat of stripping it of its motorway concessions, MF said. One idea considered is the spin off and listing of Autostrade that could involve infrastructure fund F2i, it said.

(*) The government is split on the idea of revoking Atlantia’s motorway concessions and is considering a possible revocation with regard just to parts of the network, Il Messaggero said. The paper cited an EU spokesman as saying the Commission will analyse the letter sent by Atlantia contesting measures taken by Rome on the concession issue.

(*) TELECOM ITALIA

The planned merger of the towers of TIM’s Inwit with those of Vodafone in Italy has been given a green light by Brussels, La Repubblica said. Last Friday first non binding expressions of interest, all from foreign players, to buy a 25% stake in the new tower company arrived and by end February/mid-March binding bids could be ready. The paper mentioned Ardian and KKR. A TIM board meeting on Jan 29 will look at the offers as well as the group’s budget and business plan, the paper said.

(*) FIAT CHRYSLER

A recovery in European car sales continued for the fourth month in row in December, lifted by strong demand for both premium and volume cars and growth in all EU countries, European Auto industry association said on Thursday. FCA sales were up 13.8%.

(*) BANCA MONTE DEI PASCHI DI SIENA

There is optimism in Rome and Brussels over the negotiations on derisking the bank and an agreement could be reached by the end of this month or early February, MF said. Offers for the bank’s real estate assets will arrive on Jan 24, it added.

CATTOLICA ASSICURAZIONI

Board meeting to call an extraordinary shareholder meeting to approve governance changes.

UBI

Moody’s assigned a B2(hyb) rating to the 400 million euros Additional Tier 1 bond to be issued by the Italian bank.

(*) The bank is prepared to consider the sale of a 200-300 million euro real estate portfolio, MF said.

GEOX

Board meeting on 2019 revenues, followed by conference call (1640 GMT).

DIARY

Milan, “Intesa Sanpaolo, engine for sustainable and inclusive development” conference with Chairman Gian Maria Gros-Pietro, CEO Carlo Messina, BlackRock Chairman Rob Kapito, UBI Banca Chairwoman Letizia Moratti, Terna Chairwoman Catia Bastioli, Maire Tecnimont Chairman Fabrizio Di Amato, Innovation Minister Paola Pisano; CEO Carlo Messina delivers closing address (0900 GMT).

Milan, Mediobanca holds a closed-door conference “2nd Italian MID-CAP Conference” (0900 GMT).

Rome, Prime Minister Giuseppe Conte in Algeria to meet Algerian prime minister (1130); president of Republic (1400); visit to Italian Embassy (1500).

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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