June 10, 2019 / 4:00 AM / 2 months ago

Italy - Factors to watch on June 10

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 coalition officials say the country’s public accounts are throwing up positive surprises this year, strengthening Rome’s hand as it tries to ward off a possible European Union disciplinary procedure.

An EU disciplinary procedure against Italy over its debt is warranted, according to a draft document for a meeting of EU government officials quoted by an EU source, setting the stage for an escalation of a dispute with Rome.

* Italy’s ruling parties could expose the nation to market shocks and put its savings at risk if they are not ready to compromise with the European Union over the budget, Prime Minister Giuseppe Conte told Corriere della Sera.

Italian finance minister Giovanni Tria says it would be either illegal or useless for Italy to issue so-called mini-bots to pay its suppliers

Italy’s coalition parties push back against criticism of the mini-bots, highlighting tensions in the heart of the cabinet

ECONOMY

ISTAT releases April industrial output (0800 GMT).

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

* FIAT CHRYSLER

FCA and Renault SA are looking for ways to resuscitate their collapsed merger plan and secure the approval of the French carmaker’s alliance partner Nissan Motor Co Ltd , according to several sources close to the companies.

Nissan is poised to urge Renault to significantly reduce its 43.4% stake in the Japanese company in return for supporting a FCA-Renault tie-up, two people with knowledge of its thinking also told Reuters.

Renault has signalled it will block alliance partner Nissan from adopting planned governance reforms unless it gets a seat on new board committees, sources said, a demand one person at the Japanese automaker derided as a potential conflict of interest.

Self-driving car software startup Aurora said on Sunday it would partner with Fiat Chrysler to build autonomous platforms for commercial vehicles, the latest collaboration with an automaker for the fast-growing Silicon Valley company.

MEDIASET

The Italian broadcaster unveiled on Friday a corporate overhaul that would put the group, including its main overseas subsidiary in Spain, under a Dutch holding company and in a better position to pursue pan-European media alliances. * On Monday, the company’s management holds a conference call with analysts and meets investors in London.

* ENI, MAIRE TECNIMONT

The two Italian companies said on Monday they signed a partnership agreement to develop and implement a new technology that transforms non-recyclable waste into hydrogen and methanol.

* TELECOM ITALIA

Open Fiber CEO Elisabetta Ripa in an interview with La Stampa on Monday said that Italy’s broadband operator is evaluating ways of collaborating with Telecom Italia, adding that there were many possibilities.

MPS, CARIGE, POPOLARE BARI

* The head of Credit Agricole in Italy, Giampiero Maioli, in interview with La Repubblica on Saturday said France’s second-largest listed bank was not interested in any tie-up with Italian banks.

Credit Agricole Deputy CEO Xavier Muscat in interview with Il Sole 24 Ore on Saturday rules out cross-border mergers with banks in other European countries because “the current rules do not allow for real synergies”. He says Credit Agricole is ready to evaluate “a further dimensional leap” in asset management with Amundi. Rules out involvement in any Carige deal, says his bank is looking for organic growth in Italy.

FINCANTIERI

Head of state lender Cassa Depositi e Prestiti says expects Fincantieri’s proposed acquisition of Chantiers de l’Atlantique (formerly known as STX France) will get the green light from Brussels, Agi newsagency reports. Says deal is good for Europe. Fincantieri Chairman Giampiero Massolo says EU should make a decision before the Commission mandate expires this year.

TISCALI

Amsicora, an investment vehicle owned by Claudio Costamagna, Manilo Marocco and Alberto Trondoli, could consider to acquire further stakes in Tiscali or bonds issued by the phone group, the company said in a filing to Consob. Amsicora holds 22.059% of Tiscali.

AUTOSTRADE MERIDIONALI

Praude Asset Management holds 10.007% of the company, according a filing to Consob.

DIASORIN

Board meeting to approve 2019-2022 industrial plan.

PIQUADRO

Board meeting on FY results.

SIRIO

Debuts on AIM segment.

Annual general meetings: AMM (0900 GMT), EEMS (0800 GMT).

Trade ex-dividend: AMBIENTHESIS of 0.0080 euro per ordinary share; SERVIZI ITALIA of 0.16 euro per share.

DIARY

Milan, ISPI holds meeting on refugees with U.N. High Commissioner for Refugees Filippo Grandi (1600 GMT).

Milan, Bank of Italy presents report on Lombardy Region’s economy with Milan branch Director Giuseppe Sopranzetti (1330 GMT).

Milan, Intesa Sanpaolo and European Investment Bank (EIB) joint event with Intesa Sanpaolo Chairman Gian Maria Gros-Pietro and EIB Deputy Chairman Dario Scannapieco (1000 GMT).

Venice, news conference with Generali Chairman Gabriele Galateri and CEO Philippe Donnet (1000 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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