July 24, 2018 / 4:02 AM / 21 days ago

Italy - Factors to watch on July 24

The following factors could affect Italian markets on Tuesday.

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

Deputy Prime Minister and Industry and Labour Minister Luigi Di Maio attends Alleanza Cooperative Italiane assembly in Rome (0730 GMT).

ECONOMY

ISTAT releases June non-EU foreign trade data (0800 GMT).

Rome, state lender Cassa Depositi e Prestiti (CDP) holds shareholders’ meeting to appoint top management.

DEBT

Treasury announces sale of 6-month BOT bills, with relative amounts to be auctioned on July 27.

Italy’s Treasury said on Monday that, thanks to ample cash availability, it would not hold an Aug. 13 bond auction and a sale of inflation-linked paper scheduled for Aug. 28.

COMPANIES (*) FIAT CHRYSLER

A former United Auto Workers official who served on the union committee that negotiated a 2015 labor pact with Fiat Chrysler pleaded guilty on Monday to conspiring to make illegal payments to union officials, prosecutors said.

LUXOTTICA

Ray-Ban owner Luxottica posted broadly flat first-half sales and adjusted operating income as it awaits a Chinese go-ahead this month for its merger with France’s Essilor.

Luxottica CFO said 2018 sales are likely in the lower part of guidance range.

BANCA CARIGE

Banca Carige’s top investor Malacalza Investimenti said it had requested the troubled Italian bank’s board be removed, in an escalating governance spat which regulators say carries major risks. (*) One or two funds would be ready to support shareholder Raffaele Mincione, who holds a 5.4 percent stake in the lender , at the next board meeting, Il Sole 24 Ore reported.

INWIT

Italian tower company Inwit, controlled by Telecom Italia, is interested in any telecom masts that may come to market as a result of a bid on EI Towers.

Inwit’s first-half net profit rose to 70.2 million euros.

(*) AMPLIFON

The Italian hearing aid maker said on Tuesday it agreed to buy privately owned peer GAES Group for an equity value of 528 million euros ($616.6 million), in a bid to enter the Latin American markets and become the top player in Spain.

(*) FINCANTIERI

The green light from France’s and Germany’s regulators to the transfer of 51 percent of shipbuilder Stx France to Italy’s Fincantieri should arrive by the autumn, Il Sole 24 Ore reported. It added that the Italian economy minister and his French counterpart are due to meet in the first days of August in Rome to discuss about the French-Italian alliance in the naval military sector.

(*) BANCO BPM

Italian banking foundation Fondazione CRT, who already owns a 1 percent stake in the lender, could raise its shareholding, Corriere della Sera reported.

(*) CREVAL

France’s Credit Agricole is set to buy a 5 percent stake in Creval and is also ready to sign a ten year partnership with the lender in the life insurance sector, MF reported.

(*) MEDIASET

JP Morgan on Tuesday raised the broadcaster to ‘Neutral’ from ‘Underweight’ and raised the target price to 3.3 euros per share from 3.1 euros.

TERNIENERGIA

TerniEnergia sold two Energy Efficiency Projects to Estra Clima. (*) GAMENET

The group said on Tuesday it signed a deal to acquire 100 percent of Italy’s Goldbet, with an enterprise value of the transaction of 265 million euros.

TREVI GROUP

Board meeting on extension of exclusive talks with Bain capital credit. (*) ALITALIA

Giuseppe Guzzetti, president of bank foundation association Acri, which is a shareholder of state lender CDP, said on Monday the banking foundations were “absolutely against” any intervention in Alitalia by state lender Cassa Depositi e Prestiti.

The Italian carrier would be excluded from a new alliance between peers Delta Airlines, Virgin Atlantic and Air France- KLM due to the uncertainty over its future, Corriere della Sera reported, citing a document sent to the U.S. Transport Department last week. Alitalia is currently in the Sky Team alliance with Delta and Air France-KLM but the changes will not occur until this joint venture will expire, the report added.

TELECOM ITALIA (TIM)

Board meeting on H1 results. (*) Tensions between CEO Amos Genish and the board of the group appear to have been soothed for the moment, La Stampa reported, adding however that some board members did not welcome the way new Tim Brasil CEO Sami Foguel was nominated to substitute outgoing Stefano De Angelis.

EI TOWERS

Board meeting on H1 results, followed by conference call.

Board meeting on H1 results: BIODUE, SOGEFI , LU-VE (sales revenues).

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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