July 17, 2019 / 6:25 AM / 5 months ago

Italy - Factors to watch on July 17

The following factors could affect Italian markets on Wednesday.

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

ISTAT releases May industry orders and sales data (0800 GMT).

ISTAT releases Building Permits Indicators IV Quarter 2018 (0900 GMT).

COMPANIES (*) FIAT CHRYSLER AUTOMOBILES

Renault’s alliance with Japanese partner Nissan remains the priority for France ahead of any further consolidation such as a merger with Fiat-Chrysler, French Finance Minister Bruno Le Maire said on Wednesday in an interview with Corriere della Sera. (*) European car sales dropped 7.9% in June, led by bigger declines for Nissan, Volvo and Fiat Chrysler, according to industry data published on Wednesday.

(*) TELECOM ITALIA

Italy’s largest phone company, Telecom Italia TLIT.MI, is considering a plan to sell assets worth around 2 billion euros ($2.2 billion), including a stake in its separately listed INWIT towers unit, La Repubblica daily said on Wednesday.

Beyond INWIT, TIM is also looking at selling its data-centre and consumer credit operations, the daily said, adding that the overall plan could be put to the TIM board on Aug. 1. The disposals should be completed by early 2020, it said.

(*) ALITALIA

The industry ministry and the temporary administrators running the airline want a consortium including Ferrovie dello Stato, Delta Air Lines and Atlantia to present a binding offer for Alitalia by Sept. 15, Il Messaggero said.

(*) CARIGE

A new business plan for 2019-2023 drafted by the bank’s temporary administrators forecasts a break-even in 2021 and a return to profit for 2022, Il Messaggero said on Wednesday. Non performing exposures should fall to 3.5 percent of total loans by 2020, with a CET 1 ratio seen at 13.5 percent in the same year. The bank expects a loss of 750-800 million euros in 2019 after a clean-up of its balance sheet and 1,500 job cuts.

ENEL

Ratings agency Moody’s has raised to positive from stable the outlook on the group’s rating, which was affirmed at Baa2.

MONTE DEI PASCHI DEI SIENA

The Italian lender sold on Tuesday a long-awaited subordinated bond to shore up its capital but had to pay a high price compared to its peers. The yield was set at 10.50% for the 300 million euro ($337 million) 10-year Tier 2 deal, according to Refinitiv’s IFR service.

FINECOBANK

U.S. asset manager BlackRock said in a filing on Tuesday it could buy more shares in the Italian online broker on top of the 10.23 percent stake it had as of July 9. The fund said it does not want to gain the control of the company.

IPO

Chinese conglomerate Weichai Group is going ahead with its plans to list Italian luxury yacht builder Ferretti, with the process for an initial public offering expected to be launched just after the summer, a source close to the matter said on Tuesday.

DIARY

Rome, Deputy Prime Prime Minister Luigi Di Maio speaks at parliamentary commission hearing (1430).

Rome, Prime Minister Giuseppe Conte attends conference (1900).

Rome, workshop on “Which Italian strategy for the development of ultra-fast networks and economic growth?” with Open Fiber IPO-EOF.MI Chairman Franco Bassanini, Telecom Italia CEO Luigi Gubitosi; Communications Authority AGCOM President Angelo Marcello Cardani delivers closing address (1500 GMT).

Rome, Technogym holds news conference to present group as official supplier of “2019 Panamerican Games” (1000 GMT).

Milan, Roland Berger Ceo Alfredo Arpaia attends conference (1100).

Milan, Alibaba “Fashion&Luxury Breakfast” (0930).

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:...............................

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below