January 18, 2019 / 5:01 AM / 3 months ago

Italy - Factors to watch on Jan. 18

MILANO, Jan 18 (Reuters) - The following factors could affect Italian markets on Friday.

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 Italian government on Thursday approved flagship reforms of the welfare and pension system, election pledges of the anti-establishment 5-Star Movement and the right-wing League, which mark a major overhaul of the country’s welfare state.

ECONOMY

Reuters releases quarterly poll on Italian economy.

CARIGE

Fitch has downgraded Italy’s 10th largest lender to ‘CCC’, saying “senior creditors face an increased risk of losses now that the bank has been placed under temporary administration as this, in our opinion, reflects a heightened risk of further regulatory intervention.”

Banca Carige challenged the downgrade, saying it reserved the right to ask authorities to look into the “anomalous” move.

The lender has filed a request to tap a state guarantee for an upcoming bond issue that would help it raise badly needed funds on the market, Finance Minister Giovanni Tria said on Thursday.

TELECOM ITALIA

Telecom Italia expects to report full-year organic core earnings of around 8.1 billion euros ($9.2 billion), the Italian phone group said on Thursday after examining preliminary results. The figure would represent a drop of less than 5 percent compared to the year before, a person familiar with the matter said, despite an improvement in its Brazilian unit. TIM did not give any comparison figures.

ENI

Eni’s board approved the possible issue of one or more bonds, to be placed with institutional investors, with a value up to a maximum total amount of 3 billion euros.

(*) SAIPEM

The company was awarded two offshore contracts in Saudi Arabia for a total of around $1.3 billion.

MONTE DEI PASCHI

Chairwoman Stefania Bariatti is confident the bank can comply with the ECB’s recommendations on bad loans over the recovery plan to 2021, she said on Thursday.

LEONARDO

The company said it had won a 293 million pound contract from the UK ministry of defence.

(*) ASTALDI, SALINI IMPREGILO

A solution for troubled builder Astaldi could include state lender CDP buying into Italian infrastructure group Salini Impregilo, which would subsequently act as an aggregator for struggling constructing groups in the country, Il Sole 24 Ore said. Alternatively, CDP could also invest in a newco that would be created by Salini to buy Astaldi’s construction assets. Astaldi’s creditor banks would also own a stake in the newco so that Salini would not be obliged to take on the builder’s debt, the paper added.

BB BIOTECH

Board meeting on 2018 portfolio.

ESSILORLUXOTTICA

Ends mandatory exchange offer on remaining ordinary shares of Luxottica.

(*) RCS MEDIAGROUP

The company is on track to meet its debt reduction target for 2018, the publisher’s CEO Urbano Cairo was quoted by Il Sole 24 Ore as saying.

(*) MONDADORI

Talks on a potential sale of Mondadori France to Reworld Media are proceeding well and should be wrapped up shortly, Mondadori CEO Ernesto Mauri was quoted by Il Sole 24 Ore as saying.

Extraordinary shareholders’ meetings: BIALETTI (1000 GMT), SPAXS (1100 GMT).

M&A, FERRERO

Nutella maker Ferrero has been shortlisted to take part in the second round of Campbell Soup Co’s CPB.N auction of its international business, a source with knowledge of the matter said on Thursday.

DIARY

Rome, news conference on “New Financial Measures to Support Italian Small- and Medium-Sized Companies” with European Investment Bank (EIB) Deputy Chairman Dario Scannapieco (1100 GMT).

Rome, Prime Minister Giuseppe Conte visits the Jewish Community of Rome (0930 GMT).

Rome, Bank of Italy governor Ignazio Visco and Economy Minister Giovanni Tria attend a book presentation (0900 GMT).

Cagliari, European Affairs Minister Paolo Savona attends conference on the future of European Union.

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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