July 2, 2018 / 4:03 AM / 15 days ago

Italy - Factors to watch on July 2

The following factors could affect Italian markets on Monday.

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 (*) Matteo Salvini, leader of Italy’s right-wing League which is surging in opinion polls, said on Sunday he wanted to expand its success to create a pan-European association of like-minded, nationalist parties.

ECONOMY

Markit/ADACI releases June PMI manufacturing (0745 GMT).

ISTAT releases May unemployment data (0800 GMT).

Transport Ministry releases June car sales data (1600 GMT).

June state sector borrowing requirement data.

DEBT

Armando Siri, government undersecretary for infrastructure and an economics advisor to League Leader Matteo Salvini, proposed in an interview with daily Corriere della Sera on Sunday that Italy should issue high interest-rate bonds reserved only for Italian retail investors, with the aim of increasing the proportion of the public debt that is held domestically.

Siri also said Italy should raise the budget deficit to 2.6 percent or 2.7 percent of GDP next year to help fund tax cuts, and said the EU should change its fiscal rules to strip investments on infrastructure from deficit calculations. In his role in the government Siri has no direct influence on economic policy or debt management.

ECONOMY

Italy’s Foreign Minister Enzo Moavero said in an interview in La Stampa on Sunday that proceeds from a proposed EU-wide tax on internet companies should be used to fund migrant centres in Africa and give financial assistance to those who are willing to return to their home countries.

COMPANIES

Italian Stock Exchange holds “Italian Sustainability Day” in Milan.

RECORDATI

A consortium of investment funds controlled by CVC Capital Partners has agreed to buy 51.8 percent of Italian pharmaceutical group Recordati in a deal worth about 3 billion euros ($3.5 billion).

(*) CARIGE

Board member Francesca Balzani could also decide to leave her post at the lender, il Corriere della Sera reported on Saturday. The report added that it is possible that Vittorio Malacalza, who holds a 20.7 percent stake in the bank, could temporarily hold the position of chairman until a new shareholders meeting will be called in September.

Chief Executive Paolo Fiorentino said the lender will call a shareholders’ meeting to appoint a chairman and deputy chairman after August, in an interview with Corriere della Sera’s Economia on Monday. He added the bank has an offer for some 400 million euros in unlikely-to-pay loans, with a July 26 deadline, as well as some other binding offers.

(*) LEONARDO

Turboprop maker ATR, jointly owned by France’s Airbus and Leonardo, estimated on Monday a surge in business in its sector over the next 20 years that could result in demand for 3,000 new turboprops valued at more than $80 billion.

(*) MEDIASET

Italian Development minister Luigi Di Maio said in a blog on Sunday that Italy should invest on 5G technology and that private TV group Mediaset and national broadcaster Rai should start thinking at launching new products in order to either offer products to air on Netflix or offer an alternative to the content platform giant.

(*) MEDIASET, MONDADORI, MEDIOBANCA

Fininvest, the family holding company of Silvio Berlusconi, which holds over 40 percent of TV group Mediaset and more than 50 percent in publisher Mondadori, intends to keep its focus on its core businesses of TV and books, the group’s CEO Danilo Pellegrini told Il Sole 24 Ore on Saturday.

Fininvest is not considering acquisitions, Pellegrini added.

The CEO said the holding intends to stay as a shareholder in Mediobanca, in which it has a stake of over 3 percent, “as it is an investment of which we are satisfied.”

LUXOTTICA

French lens manufacturer Essilor and Italian eyewear Luxottica have extended a deadline for their planned merger to July 31 as the Chinese competition authority has not yet approved the transaction.

UNIPOL, BPER

The insurer said on Friday it had completed the acquisition of shares in BPER Banca and held 15.06 percent in the lender.

PRYSMIAN

The world’s biggest cable maker starts a planned 500-million euros rights issue. The option rights to buy into the capital increase will be exercisable from Monday to July 19.

LA DORIA

Trades ex-dividend of 0.23 euro per share.

(*) ALITALIA

The Chief Executive of EasyJet, which has expressed interest in Alitalia’s short haul routes, says the “process” is still ongoing and that the group would “like to do in Italy what has been done in Germany,” where its offer was the one preferred by the unions.

Transport Undersecretary Michele Geraci is quoted as saying that the entrance of a Chinese group in Alitalia, with a minority shareholding, is a “feasible path” and that there is strong interest in the carrier by the Chinese, in a report by Corriere della Sera on Saturday. Geraci adds that the plan could be to bring more flights from China to Rome and that the solution is to be considered “in addition” to offers already made for Alitalia.

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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