June 11, 2018 / 4:04 AM / 6 months ago

Italy - Factors to watch on June 11

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 .

POLITICS

Italy’s government has no intention of leaving the euro and plans to focus on cutting debt levels, looking to boost growth through investment and structural reforms rather than deficit spending, the new economy minister says.

Italy will refuse to let a humanitarian ship carrying more than 600 migrants dock and has asked the Mediterranean island of Malta to open its doors to the vessel, opening the prospect of a diplomatic row between the EU allies.

ECONOMY

ISTAT releases April industrial output data (0800 GMT).

DEBT

Italy’s Treasury said on Friday it would offer up to 5.75 billion euros over four bonds at auction on Wednesday.

REGULATIONS

The Bank of Italy and market watchdog Consob have agreed to work more closely in their oversight of the banking sector. The accord will enable them to carry out joint analyses of material from institutes under review, with the two bodies committing themselves to sharing information, data and documents. (Saturday’s Il Sole 24 Ore)

ENI

Italy’s ENI is on track to deliver the first gas from its Ghana operations this month, with output rising to 180 million cubic feet per day, enough to more than double national output by year end, officials told Reuters on Friday.

(*) FERRARI

Sebastian Vettel capped an emotional weekend for Ferrari with a clinical pole-to-flag win at the Canadian Grand Prix on Sunday to retake the lead in the Formula One world championship from Mercedes’s Lewis Hamilton by a single point.

(*) BANCA MEDIOLANUM

If Fininvest, the investment vehicle of the Berlusconi family, sells a 20 percent holding in Banca Mediolanum, the company is willing to buy part of that, but has also attracted interest from external investors willing to cover the entire stake, Banca Mediolanum CEO Massimo Doris told Corriere della Sera’s L’Economia insert. The company is working on six deals that could be concluded either by the end of this year or in the first half of 2019, including six market listings and two bond issues, Doris added.

CAREL

Shares in the refrigeration and air conditioning systems maker debut on STAR segment of the Milan bourse after Carel became the only Italian company to go ahead with an initial public offering in the midst of political and market chaos.

(*) UNICREDIT

Alessandro Mazzucco, chairman of 1.8 percent shareholder Fondazione Cariverona, told la Repubblica in an interview on Saturay that the bank had made clear progress but did not yet meet expectations. Mazzucco also said he had never received any information about possible mergers when asked about the reported plan for a tie-up with Societe Generale. He said such scenarios were “theoretically possible” but required in-depth evaluations.

(*) PIQUADRO

The company plans to grow in Europe and Asia “but its head will always remain in Italy”, deputy chairman Pierpaolo Palmieri told La Stampa in an interview on Monday.

JUVENTUS

The Serie A football club said on Friday it had signed on for four years goalkeeper Mattia Perin after agreeing to pay rival Genoa 12 million euros over three years for the player’s final acquisition.

RETELIT

Shares in Italian the fibre-optic network group closed down 4.6 percent on Friday after the new government exercised its so-called ‘golden powers’ on a company deemed of strategic national importance.

Prime Minister Giuseppe Conte’s government declared a listed telco in which Libya has long been the top investor a strategic asset, hitting shares. Retelit says it can handle the state oversight. But it sends a warning to foreigners seeking to buy Italian infrastructure.

SPACE4

The Italian Special Purpose Acquisition Company said on Friday it had asked the Milan bourse permission to list its shares following the merger with safety closures maker Guala Closure.

ENERTRONICA

Starts capital increase; ends on June 28.

PIQUADRO

Board meeting on FY results.

Trade ex-dividend: COFIDE of 0.014 euro per share;

IGD of 0.50 euro per ordinary share; UNIEURO of 1.00 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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