July 25, 2018 / 4:00 AM / 2 months ago

Italy - Factors to watch on July 25

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 .

POLITICS

Italy’s state lender CDP says shareholders nominate Palermo as CEO.

The Italian government is opening a formal review of ArcelorMittal’s planned takeover of the Ilva steel company and might annul the accord over alleged irregularities, Industry Minister Luigi Di Maio said on Tuesday.

DEBT

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on July 30.

The Treasury said on Tuesday it would offer 6 billion euros in six-month bills at auction on July 27.

TELECOM ITALIA

Telecom Italia will press ahead with the sale of its stake in broadcasting unit Persidera while considering broader strategic options for the group’s various subsidiaries.

FIAT CHRYSLER

Car maker releases H1 results, followed by conference call with new CEO Mike Manley (1200 GMT).

CREVAL

French banking group Credit Agricole has taken a 5 percent stake in Italian mid-sized bank Creval as part of a life insurance partnership and could consider raising it to 9.9 percent, the two lenders said.

The French group said on Wednesday it had purchased 1.5 percent of Creval in a reverse accelerated bookbuilding transaction conducted by JP Morgan paying 0.1079 euros a share.

BANCA CARIGE

The European Central Bank has given Italian mid-sized bank Carige a tall order by demanding it boosts its capital by the end of the year or embark on a merger with a healthier rival.

(*) The ECB wrote to the bank’s top shareholder and Chairman Vittorio Malacalza on Tuesday complaining about his choice to publicly accuse CEO Paolo Fiorentino as opposed to raising any issues within the board, MF reported.

LEONARDO, CNH INDUSTRIAL

The Iveco-Oto Melara Consortium, 50 percent owned by Leonardo, signed a contract worth 159 million euros with the Italian Ministry of Defence to buy the first 10 new Centauro II armoured vehicles. The contract value for Leonardo is about 92 million euros.

(*) LEONARDO, FINCANTIERI

A plan by Italy’s Fincantieri and France’s Naval Group to join forces in military shipbuilding does not involve Leonardo despite efforts by CEO Alessandro Profumo to secure a role for the defence group’s Orizzonti Sistemi Navali joint-venture, Il Sole 24 Ore reported.

(*) SAIPEM

The Italian oil services group stuck to its guidance for the year on Wednesday after its net loss widened in the second quarter due to writedowns and charges.

Saipem has rejigged its business model in a move that could see the oil services group make acquisitions to strengthen its core engineering and construction (E&C) business.

Eni and state lender unit CDP Equity renewed their shareholder agreement on 25 percent of Saipem jointly held to 2022.

Releases H1 results, followed by conference call (0630 GMT).

EI TOWERS

EI Towers H1 net profit up at 34.1 million euros.

STMICROELECTRONICS

Releases H1 results, followed by conference call (0730 GMT).

ITALMOBILIARE

Italmobiliare is to buy 40 percent stake in Iseo Group

MONCLER

Board meeting on H1 results, followed by conference call.

TERNA

Board meeting on H1 results, followed by conference call.

GEDI GRUPPO EDITORIALE

Board meeting on H1 results.

SALINI IMPREGILO

Board meeting on H1 results.

SPACTIV

Board meeting on H1 results.

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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