July 19, 2019 / 4:04 AM / a month ago

Italy - Factors to watch on July 19

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

Cabinet meeting (1000 GMT). (*) Italy’s Deputy Prime Minister Luigi Di Maio said on Friday he ruled out a government crisis.

The leaders of Italy’s coalition partners the League and 5-Star Movement warned on Thursday the government could collapse following mutual recriminations over the election of the next European Commission president.

ECONOMY

Bank of Italy releases balance of payments data for May.

GENERALI

Italy’s top insurer has reached a deal to buy Portuguese insurer Seguradoras Unidas and a smaller service company from U.S. fund Apollo Global Management for a total of 600 million euros, it said on Thursday.

UNICREDIT

Moody’s upgraded the bank’s junior senior unsecured rating and subordinated debt ratings to Baa2 and Baa3 respectively, the rating agency said on Thursday.

BPER, UNIPOL

Italy’s competition watchdog approved a takeover of Unipol Banca by fellow lender BPER Banca with conditions.

(*) CARIGE

Italy’s cooperative bank Cassa Centrale Banca is ready to join a rescue plan for the troubled lender but want Carige’s current top investor, the Malacalza family, to participate to a planned 900 million euro right issue, which is expected to be approved at a shareholder’s meeting in September, daily La Stampa said.

Depositor protection fund FITD might decide to convert 320 million euros of Carige’s bonds it holds into shares only under the condition that a rescue plan for the bank would be presented later and that other investors would join it, Il Sole 24 Ore said.

(*) ATLANTIA, ALITALIA (unlisted)

The Italian infrastructure group and state railways FS on Thursday started discussing details of a rescue plan for the ailing carrier. Talks also included new management and new governance, Il Sole 24 Ore said, adding that Atlantia wanted to modify an initial industrial plan for Alitalia that was prepared by FS and U.S. carrier Delta, which is also part of the rescue consortium.

Delta might sign two different agreements with Air France and Alitalia, replacing the current three-way deal, granting the Italian carrier better conditions within the alliance, daily Il Messaggero said.

(*) PIRELLI ChemChina and Italy’s Camfin are expected to sign next week the renewal for three more years of a shareholders’ agreement through which the control the Italian tyre maker, Il Sole 24 Ore said. The agreement will allow Marco Tronchetti Provera to be confirmed as the company’s chief executive, the report added.

CIR, COFIDE

Shareholders of both holding companies meet to approve a merger plan through incorporation of Cir into Cofide.

CELLULARLINE

The company’s shares will start trading on the Star segment of the Italian stock exchange on July 22.

ITALIAONLINE

Italy’s market watchdog approved Sunrise Investment’s tender offer on ordinary and saving shares of the internet company. The acceptance period will start on July 29 and will end on September 12, Sunrise said on Thursday.

OTHERS

CHL ends capital increase rights

LVenture Group ends capital increase rights

Netweek ends capital increase rights

BB Biotech holds board meeting on H1 results

DIARY

Rome, Agcom conference on digital society, with President Angelo Maria Cardani, RAI President Marcello Foa, Facebook Country Manager Luca Colombo, Mediaset Chairman Fedele Confalonieri, Rai CEO Fabrizio Salini, Fastweb CEO Alberto Calcagno, TIM CEO Luigi Gubitosi, Vodafone Italia Chairman Pietro Guindani, Wind CEO Jeffrey Hedberg, Open Fiber CEO Elisabetta Ripa (0900).

(Milan newsroom, +39 02 6612 9507, fax +39 02 801149, milan.newsroom@news.reuters.com))

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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