July 26, 2019 / 4:04 AM / a month ago

Italy - Factors to watch on July 26

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

Italian Economy Minister Giovanni Tria’s job could be at risk if he does not show enough courage in reducing taxes next year, Deputy Prime Minister Matteo Salvini told Radio24 on Friday.

Italy needs to cut taxes by at least 10-12 billion euros next year to have an enduring impact on growth, consumption and savings, Deputy Economy Minister Massimo Garavaglia told daily Il Corriere della Sera. He added an 80-euro per month handout for low earners could be transformed into a tax cut on labour and increased to 100 euros.

Economy Minister Giovanni Tria said on Thursday he was not sure Italy would achieve its 18 billion euros privatisation target this year.

ECONOMY

ISTAT releases July consumer and business confidence data (0800 GMT) and Q2 wage inflation data (0900 GMT).

DEBT

Treasury sells CTZ and BTPei bonds. Subscriptions close at 0900 GMT.

Treasury said on Thursday it would offer up to 7.25 billion euros in BTP and CCTeu bonds at auction on July 30.

ENI

Italian energy group said its adjusted net profit in the second quarter fell 27% on the year to miss expectations as lower oil and gas prices took their toll.

TELECOM ITALIA (TIM), INWIT

French shareholder Vivendi supports the different initiatives taken by current TIM Chief Executive Luigi Gubitosi, Vivendi CEO Arnaud de Puyfontaine said on Thursday.

TIM and Inwit hold respective board meetings on Friday to approve a towers deal and 5G partnership with Vodafone in Italy.

(*) UNICREDIT, ILLIMITY

The bank said it sold a 450 million euro portfolio of Italian small-medium enetrprise unsecured non-performing loans.

CARIGE (shares suspended from trading)

The troubled lender told the ECB in a letter that key investors - the depositors’ protection fund FITD and cooperative lender Cassa Centrale Banca - agreed to cover the bank’s capital needs, daily Il Sole 24 Ore said. FITD will make a formal offer to join a rescue plan for Carige at a fund’s board meeting scheduled next week, the report added.

POSTE ITALIANE

Italy’s former postal monopolist will discuss at a board meeting after the summer break a proposal to refund heavy losses incurred by investors in the Obelisco real estate fund it sold, La Repubblica said.

AUTOGRILL

The Italian caterer said on Thursday it had signed an exclusive multi-year agreement with bakery chain Panera Bread to develop outlets in U.S. airports and motorways.

SARAS

The Italian refinery company announced on Thursday the disposal of the network of service stations located in Spain to Kuwait petroleum Espana. The value of the disposal is 35 million euros, broadly in line with the book value, the company added.

SALINI IMPREGILO, ASTALDI

The closing of a state-backed plan involving the two builders and state lender CDP to revive Italy’s sickly construction industry could take additional time beyond a deadline set on August 1, Il Sole 24 Ore said.

BIO-ON (*) A prosecutor in the city of Bologna has opened a probe on alleged market manipulation, daily La Repubblica said, adding the probe did not target any precise party.

The bio-plastic company filed a complaint with police over allegations of accounting irregularities and fictitious revenues raised by U.S. hedge fund Quintessential Capital Management, which triggered a massive fall in the company’s shares, a source close to the matter said. (*) The CEO and the deputy chairman bought 7,000 company’s shares each, at a price of 15.0714 euros, for a total amount of 211,000 euros, Bio-on said in a statement.

ASTM

Partial voluntary takeover offer on SIAS-Societa Iniziative Autostradali e Servizi shares ends (1530 GMT - started on July 8).

Board meetings on H1 results: PIAGGIO followed by conference call, ALERION CLEAN POWER, CEMENTIR followed by conference call, GEDI GRUPPO EDITORIALE , RATTI, VIANINI, ZIGNAGO VETRO (0800 GMT).

DIARY

Rome, Prime Minister Giuseppe Conte attends 13th edition of the Conference of Italian Ambassadors (0800 GMT)

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:...............................

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below