July 9, 2020 / 5:06 AM / a month ago

Italy - Factors to watch on July 9

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 .

ECONOMY

OECD releases June composite leading indicator (1000 GMT).

Bank of Italy releases June data on bank lending and domestic government bond holdings at Italy-based banks.

DEBT

Orders for Italy’s new ‘BTP Futura’ retail bond reached 1.16 billion euros ($1.3 billion) on the third day of its offering, bourse data showed on Wednesday, pushing total requests to 5.21 billion euros.

Treasury continues offer of new ‘BTP Futura’ bond due July 14, 2030; ends on July 10, subject to early closure.

Treasury announces sale of BTP bonds, with relative amounts to be auctioned on July 14.

INTESA SANPAOLO, UBI BANCA

Investors tendered UBI shares representing 0.546% of the total targeted by Intesa Sanpaolo’s takeover bid in the first three days of the exchange offer, bourse data showed.

ATLANTIA

On Wednesday Prime Minister Giuseppe Conte said that the long-running dispute with the infrastructure group would be settled by the end of the week. Vito Crimi, leader of Italy’s co-ruling 5-Star Movement, said the Benetton family, which owns Atlantia, must no longer manage the country’s motorways, and Foreign Minister Luigi Di Maio urged the government to withdraw the company’s concession to run the country’s motorways.

Atlantia’s subsidiary Autostrade per l’Italia said in a statement that it had never received any formal feedback to the proposals it sent the government to resolve the dispute on the Morandi bridge and that Rome had never made a formal proposal.

A top Italian court said on Wednesday that a law excluding Atlantia from reconstruction work on a bridge it operated which collapsed in 2018, killing 43 people, was lawful.

(*) Atlantia’s board will meet on Thursday to assess the ruling and top managers from the group will hold a key meeting with Italy’s economy and transport ministers on Thursday, several papers reported.

(*) After the court ruling, Rome’s negotiating power has been strengthened and Atlantia, which was reluctant to cut its stake in Autostrade per l’Italia to below 51%, could be forced to end up holding no more than 30% of the unit, Il Messagero reported.

(*) A government crisis would be “inevitable” if the ruling coalition does not reach an agreement on how to settle the dispute with the infrastructure group, Italy’s deputy transport minister, a member of the 5-Star, said on Thursday.

The Italian infrastructure group said that last week traffic on the motorway network it operates in Italy fell 15.5% year-on-year and the number of passengers travelling to and from its the airports in Rome it operates fell 85.9% last week compared with the same period last year.

(*) MONTE DEI PASCHI

Italy’s co-ruling 5-Star Movement aims to keep a “role for the state” in the lender, Carla Ruocco, a lawmaker from the group, told Corriere della Sera in an interview, without ruling out the possibility of Rome owning 100% of the bank.

(*) TELECOM ITALIA, ENEL

Vodafone has the right to purchase a stake of up to 15% in Open Fiber, should the broadband operator, jointly owned by Enel and state lender Cassa Depositi e Prestiti, be sold and should control over the group change, the head of Vodafone’s Italian operations told Il Sole 24 Ore daily.

FIAT CHRYSLER

A U.S. federal judge threw out a racketeering lawsuit General Motors had filed against smaller rival Fiat Chrysler Automobiles, saying the No. 1 U.S. automaker’s alleged injuries were not caused by FCA’s alleged violations.

(*) DIASORIN

The company said on Thursday it would provide the UK government with its serological test, used to screen citizens and track the spread of Covid-19.

(*) AS ROMA

Troubled AS Roma ended a run of three successive Serie A defeats with a 2-1 win over Parma, who were angered after having a penalty turned down late in the game on Wednesday.

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:............................... ($1 = 0.8823 euros)

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