July 3, 2020 / 4:00 AM / a month ago

Italy - Factors to watch on July 3

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 .

ECONOMY

IHS Markit releases June service Pmi data (0745 GMT).

DEBT

Treasury announces minimum guaranteed rates of new ‘BTP Futura’ bond due July 14, 2030.

(*) FIAT CHRYSLER

The Italian-American carmaker is considering options to reduce a planned cash payout to its shareholders which is part of its tie-up agreement with France’s PSA, including spinning off assets, Italian daily Il Sole 24 Ore said on Friday.

UBI BANCA, INTESA SANPAOLO (*) Intesa Sanpaolo is considering to improve its offer to convince reluctant UBI shareholders to tender their shares, La Stampa reported on Friday.

UBI Banca board will meet on Friday to assess a takeover bid from rival Intesa Sanpaolo ahead of Intesa’s offer to UBI shareholders, which is set to run from July 6 to July 28. In a statement late on Thursday, the bank said the board will also approve an update of its industrial plan, which was presented in February few days before a coronavirus epidemic had emerged in Italy.

Fondazione Banca del Monte di Lombardia, a member of UBI Banca’s CAR investor group which had previously dismissed Intesa offer as inacceptable, is ready to assess its terms, Chairman Aldo Poli was quoted as saying by daily Il Sole 24 Ore.

(*) BANCO BPM

The Italian bank is trying to sell 500 million euros of its loans towards Italian real estate group Statuto, Il Sole 24 Ore reported.

BANCA MONTE DEI PASCHI

Rating agency Fitch said on Thursday it had revised its rating watch on the bank’s long term rating to ‘evolving’ from ‘negative’ in the light of the approval of a plan to o offload more than 8 billion euros in gross bad loans.

(*) ATLANTIA

Genoa municipality is considering setting up a new company, together with state-owned road operator ANAS, to run the new Genoa bridge in place of Autostrade per l’Italia, daily MF reported.

JUVENTUS, SS LAZIO AS ROMA

Serie A has picked Lazard to weigh the private equity bids for its broadcast rights business, two sources close to the matter said, as Italy’s top-flight soccer league looks at ways to weather the financial storm triggered by the coronavirus.

CASTA DIVA GROUP

Italian stock exchange said that as of Friday and until further notice orders without a price cap on the company’s ordinary shares would not be allowed.

(*) STEFANEL

The Italian clothing group, which is run by a temporary administrator, has received three offers for its assets, Il Sole 24 Ore reported.

(*) ELICA

The company has been granted a 100 million euro loan.

DIARY

Milan, UBI Banca board meeting.

Rome, ISTAT President Carlo Blangiardo presents country’s annual report; Prime Minister Giuseppe Conte attends presentation (0830 GMT).

Rome, Foreign Minister Luigi Di Maio meets his Austrian counterpart Alexander Schallenberg (1300 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:...............................

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