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Italy - Factors to watch on July 10
July 10, 2017 / 4:00 AM / 5 months ago

Italy - Factors to watch on July 10

The following factors could affect Italian markets on Monday.

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 May composite leading indicator (1000 GMT).

Former Italian Prime Minister Matteo Renzi said he would ask the European Union for less stringent deficit requirements for five years in exchange for a commitment to improve the country’s debt pile if re-elected.

DEBT

Treasury announces sale of BTP bonds, with relative amounts to be auctioned on July 13.

Treasury said on Friday it would offer 6.75 billion euros ($7.69 billion) of 12-month BOT bills at an auction on July 12.

COMPANIES

TELECOM ITALIA, ENEL, VIVENDI

Telecom Italia’s top shareholder Vivendi has asked the Italian firm’s CEO to ease up in a row with Rome that threatens a breakdown in relations between the former state monopoly and government over the rollout of ultrafast broadband, sources close to the matter said.

TELECOM ITALIA

Telecom Italia (TI) has already received an expression of interest from a group for its majority stake in Persidera, the broadcasting services company its main shareholder Vivendi has pledged to sell to the EU, la Repubblica reported on Saturday, citing financial sources close to TI.

ITALIAN BANKS

There are no more risks linked to the Italian banking system after the liquidation of two Veneto-based lenders and the restructuring plan of troubled Banca Monte dei Paschi di Siena , Unicredit CEO Jean Pierre Mustier was quoted as saying during a prize-giving ceremony in London by several papers on Saturday.

The family of Gianni Zonin, former chairman of Veneto-based bank Popolare di Vicenza, has lost 24 million euros in the lender, recently liquidated by the Italian state, his son Francesco told La Stampa on Saturday.

CARIGE

The next board meeting of the Genoa-based lender, scheduled on Tuesday, is expected to appoint a new board member, close to the bank’s second largest shareholder Gabriele Volpi, both Il Sole 24 Ore and la Repubblica reported on Sunday. (*) The 500 million capital increase will be voted by a board meeting called in October, L‘Economia del Corriere reported on Monday.

ANIMA HOLDING, BANCO BPM, POSTE ITALIANE

Anima is expected to start the acquisition of Banco BPM’s Aletti Gestielle in a cash operation worth over 500 million euros, in the first step of a consolidation process which would create the country’s third biggest asset manager, Il Sole 24 Ore reported on Sunday, without citing sources. It added that Anima could also merge with Poste’s BancoPosta Fondi, doubling the value of its managed assets to just under 170 billion euros, with Poste taking a 25 percent stake in Anima.

Banco BPM is expected to decide by August 8 whether it will sell Aletti Gestielle or its 14.7 percent stake in Anima, la Repubblica reported on Sunday. The sale of Aletti, worth about 600-650 million euros, would boost the lender’s cash position, it added. (*) Anima’s board is expected to meet on Monday in order to start analysing the operations, both papers reported.

A2A

The utility group has received non-binding offers for its 41.7 percent stake in Montenegro’s EPCG, on which it will exercise a put option, from U.S. fund ContourGlobal and Finnish energy group Fortum, Il Sole 24 Ore reported on Saturday.

IL SOLE 24 ORE

The publisher signed an agreement with unions on Friday for the lay-off of 236 employees.

(*) FIAT CHRYSLER

Chief Executive Sergio Marchionne said he is not thinking about being the centre-right’s prime minister candidate for the next general elections, due by May 2018, several dailies said, after reports over the weekend indicating that former prime minister Silvio Berlusconi was interested in offering Marchionne the opportunity.

JUVENTUS

The club said on Friday it finalised an agreement with Valencia Club de Futbol for the sale of player Murara Neto Norberto for 6 million euros, for four seasons. The group added the effect is positive for about 4.7 million euros.

AS ROMA

The club said on Sunday it had sold player Antonio Rüdiger to Chelsea F.C., for 35 million euros plus an extra of up to 4 million euros, linked to the player’s performance.

Trade ex-dividend: CLABO of 0.03375 euro per share; IVS GROUP of 0.24 euro per share.

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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