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

Italy - Factors to watch on Jan. 3

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

Caprile, Deputy Prime Minister and Industry Minister Luigi Di Maio meets provincial authorities and mayors of the province of Belluno (1515 GMT); followed by news conference.

ECONOMY

Italy posted a state sector budget deficit of 45.525 billion euros in 2018, about 6.6 billion euros narrower than the 2017 shortfall, the Treasury said on Wednesday.

COMPANIES

Bourse After Hours market closed.

BANCA CARIGE

Italy’s Prime Minister Giuseppe Conte and Economy Minister Giovanni Tria are following developments at Banca Carige “personally”, a statement from the prime minister’s office said on Wednesday.

Italy market regulator Consob prolongs its suspension of Banca Carige shares. (*) Italy’s depositors’ protection fund (FITD) could review the 16 percent interest rate set for the 320 million euro bond underwritten by the fund, its president, Salvatore Maccarone said, according to Il Sole 24 Ore. (*) UniCredit, UBI Banca and more remotely Banco BPM are cited as potential merger candidates for the troubled lender, Corriere della Sera said. (*) In a meeting with the Malacalza family and the bank’s management at the end of last year, Prime Minister Giuseppe Conte said “we don’t want another banking crisis and we won’t put another public euro into banks”, according to Corriere. (*) A state intervention “at various levels of intensity” is probable, La Stampa said. The government is studying a plan that would put Carige within a bigger bank, the paper added but excludes the possibility of UniCredit picking up the smaller rival. The paper also mentions the possibility of a direct state intervention as happened with Monte dei Paschi.

FIAT CHRYSLER

Italy car sales rose 1.96 percent in December but fell 3.11 percent in 2018. (*) The new taxes on polluting cars could result in a reduction of overall industry-wide sales in Italy of around 100,000 vehicles, Centro Studi Promotor estimates.

(*) FINCANTIERI, LEONARDO

The shipbuilder and the defense group are expected to present by the end of this week a revised offer for a 1.6 billion euro tender for four corvettes in Brazil, Il Sole 24 Ore said, adding the winner should be chosen in March.

(*) MONDADORI

The publisher could benefit from a de-listing, Il Sole 24 Ore said, but added that majority owner, the Fininvest holding of the Berlusconi family, had dismissed such idea. The paper adds Fininvest could bring in a financial partner such as a private equity fund to help take the group off the market to pursue a re-organisation of the publisher.

(*) ASTALDI

The concessionaire in charge of a new public hospital in Chile’s capital said on Wednesday that it ended a contract with the Italian construction company due to an alleged breach of clauses in a dispute that will also be fought in arbitration.

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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