July 25, 2019 / 4:02 AM / 4 months ago

Italy - Factors to watch on July 25

The following factors could affect Italian markets on Thursday.

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

The Italian government won a parliamentary confidence vote on Wednesday on a security and immigration decree, in a victory for Interior Minister Matteo Salvini, who heads the far-right League party. (*) Italy is considering a package worth about 10 billion euros ($11.1 billion) in its budget for next year to cut taxes, Deputy Prime Minister Matteo Salvini told daily Il Sole 24 Ore in an interview published on Thursday.

ECONOMY

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

DEBT

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

COMPANIES (*) SAIPEM

The Italian oil services group beat expectations in the second quarter as new orders more than doubled but it stuck to its cautious outlook for the year.

(*) STM

The Franco-Italian chip maker lowered full year revenue target to around $9.35-9.65 billion.

(*) UNICREDIT

The bank announced on Thursday the sale of an Italian small medium enterprise unsecured non-performing loans portfolio worth 1.1 billion euros.

BANCA CARIGE (shares suspended from trading), MEDIOLANUM, CATTOLICA

The rescue of troubled Italian lender Carige took a step forward on Wednesday when key players struck a framework deal over an equity fundraising, sources said, a day before a deadline set by the European Central Bank to avert winding the bank down. (*) Cattolica Assicurazioni, Banca Mediolanum and funds Apollo and Varde might also be involved in the bank’s rescue, on top of small cooperative lender Cassa Centrale Banca, several Italian newspapers reported.

(*) ALITALIA, ATLANTIA

The search for the new CEO for Alitalia airline is now restricted to four candidates including former FCA executive Alfredo Altavilla and former 3Italia mobile phone operator Vincenzo Novari, Il Messaggero said.

MONCLER

Sales growth at the Italian luxury outerwear maker accelerated further in the second quarter, posting an 18% increase at constant exchange rates, as the long-lasting appeal enjoyed by the brand showed no signs of fatigue.

Italy’s Moncler current sales trend is in line with H1

MEDIASET

Italian commercial broadcaster Mediaset more than doubled its net profit in the first half to 109 million euros, the company said on Wednesday, as it cut costs relating to soccer rights and its pay-TV business.

MONDADORI

The publisher said on Wednesday it had received antitrust clearance for the sale of Mondadori France to Reworld Media.

FINCANTIERI

Italian shipbuilder Fincantieri reported on Wednesday a 17% rise in first-half core profit as the company delivered several cruise ships made by its main shipbuilding division.

(*) BIO-ON

Italian bio-plastics company Bio-on denied on Wednesday allegations of accounting irregularities by U.S. hedge fund Quintessential Capital Management, saying it was considering legal action against the fund.

In a second statement published early on Thursday, the company replied in detail to all allegations and stressed that the sources cited by the fund were in conflict of interest.

(*) AS ROMA

The soccer company approved a non-convertible bond loan for a total nominal value up to 275 million euros.

BANCA POPOLARE DI BARI

The bank’s new board appointed Gianvito Giannelli as chairman on Wednesday and Vincenzo De Bustis Figarola as CEO.

CHL

Ends capital increase.

LVENTURE GROUP

Ends capital increase.

NETWEEK

Ends capital increase and holds annual general meeting (0730 GMT).

PIQUADRO

Annual and extraordinary shareholders’ meetings.

Board meetings on H1 results: ENI (press release on July 26), MAIRE TECNIMONT, AUTOSTRADE MERIDIONALI , BASIC NET, COIMA RES, NOVA RE .

DIARY

Rome, Quirinale, Republic President Mattarella attends ceremony (1130).

Rome, Chamber of Deputies, Budget Commission, urgent measures on State finance (0900 and 1430).

Rome, Chamber of Deputies, Transport Commission, Rfi CEO Maurizio Gentile hearing (0845).

Rome, Cnel, presentation of the Cer Report 1/2019 about Italian economy.

Rome, PM Conte attends workshop on fiscal reform (1600).

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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