July 3, 2018 / 4:04 AM / 5 months ago

Italy - Factors to watch on July 3

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 .

BANCO BPM

There are 7 consortia interested in buying the soured loans and relative platform being sold by Banco BPM, Il Sole 24 Ore said. Offers are expected next week on July 10 and the bank will short list 2 buyers for talks by the start of August. The amountbeing sold could vary from a minimum of 3.5 billion euros to 9.5 billion euros.

Asked if the bank could sell more soured loans (NPL) than the 9.5 billion euros already sold and the 3.5 billion euros promised, CEO Giuseppe Castagna told Il Messaggero if the offers were interesting they could opt to accelerate plans. He said the lender could sell the platform if the NPL sale meant they were left with no problem loans but added it was premature to talk. On acquisitions, he said if they bought anything it would be in areas where the bank already had a significant presence.

FIAT CHRYSLER

Italy car sales fell 7.25 percent in June.

(*) TELECOM ITALIA

A multi-year agreement between the company and its suppliers as regards network and maintenance is on its way, Il Sole 24 Ore said. The agreement will be at least 3-year, as of 2019, but could be 5-year, it said.

(*) UNIPOL

The Bank of Italy told the insurance group to find a partner for its banking unit Unipol Banca, MF said, citing a prospectus published by Unipol Banca.

LEONARDO

The defence group said on Monday it had signed a 5-year contract with UK’s Ministry of Defence for pre-flight threat simulation equipement for multiple UK air platforms

RECORDATI

The offer of 28 euros per share made by a group of investment funds controlled by CVC Capital Partners for a majority stake in Italian drugmaker Recordati is to be considered inclusive of any dividend, the company’s main shareholder said.

(*) FINCANTIERI

There is still a lot of criticism in Australia over the decision by the government to award a contract of over 23 billion euros for 9 frigates to BAE Systems and not to Fincantieri, Il Sole 24 Ore said.

EDISON

Edison Unit has acquired 71.3 percent of Zephyro for 71.8 million euros.

NICE

Nice Group has increased its stake in Nice Spa to about 70.451 percent.

SAFE BAG

Safe Bag signs 7-Year contract with Rio De Janeiro international airport.

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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