June 11, 2019 / 4:02 AM / 5 days ago

Italy - Factors to watch on June 11

The following factors could affect Italian markets on Tuesday.

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 coalition leaders have agreed on the need to avert a European Union disciplinary action over Rome’s worsening public finances at a meeting with Prime Minister Giuseppe Conte late on Monday, the PM office said.

ECONOMY

ISTAT releases January-March Italian regional export data (0800).

OECD releases April composite leading indicator (1000 GMT).

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

DEBT

Italy’s Treasury said it would offer 3-, 7-, 10- and 15-year nominal ‘BTP’ bonds for 5.0-6.5 billion euros at auction on Thursday.

COMPANIES (*) MEDIASET

A net present value of 800 million euros for synergies expected from the reorganisation of the group is a “cautious” estimate, Mediaset CFO said on Monday in a conference call with analysts, according to Il Sole 24 Ore.

The reorganisation offers Vivendi a good opportunity to exit its investment in Mediaset as the benefits expected from the group’s overhaul should be around 3.7 euros per share, which is the price paid by the French group for shares in the Italian company, Il Sole 24 Ore calculated.

(*) BANCA MONTE DEI PASCHI

Consultancy firm Oliver Wyman will monitor the sale of 6.5-7 billion euro soured loans of Monte dei Paschi, Il Messaggero reported, adding EU Competition watchdog asked the Italian lender to appoint the adviser to oversee the transaction.

(*) TELECOM ITALIA, ENEL

Italy’s Cassa Depositi e Prestiti (CDP) is considering selling its stake in broadband operator Open Fiber to Telecom Italia (TIM), which would give the state-owned lender shares in return for the holding, Il Sole 24 Ore said, in a report similar to one from Il Messaggero last month.

CDP and Telecom Italia agree over a price tag for Open Fiber of around 2 billion euros, La Repubblica said, adding the plan to create a single ultrafast broadband operator through a merger of TIM’s network with Open Fiber could be discussed by TIM’s board on Aug. 1.

DIASORIN

Under the new 2019-2022 plan the Italian diagnostic specialist sees a ‘mid-to-high single digit’ revenue growth under the new 2019-2022 plan, based on 2018 current exchange rates, an EBITDA margin in line with 2018 and a cumulated cash-flow of 700-750 billion euros.

‘Investor Day’ (1230 GMT).

ALITALIA

Italy’s government is set to again extend a deadline for the rescue of the loss-making carrier after failing to secure enough investors’ backing, three sources with knowledge of the matter said.

(*) ATLANTIA

Conditions are not in place for the infrastructure group to invest in troubled carrier Alitalia, Il Sole 24 Ore reported.

The infrastructure group is the favourite partner of Delta Air Lines for the rescue of Alitalia, La Repubblica said.

ITALIAN EXHIBITION GROUP

The Italian trade fair organiser said on Monday it had received the green light from Milan Stock Exchange to list its shares. The shares to be listed will be sold by investors Rimini Congressi and Salini Impregilo.

AGATOS

Board meeting on FY results.

LA DORIA

Annual general meeting (0900 GMT).

GRUPPO WASTE ITALIA

De-listed as of Tuesday.

DIARY

Rome, joint stock companies association Assonime holds biennial assembly, Prime Minister Giuseppe Conte attends (0900 GMT).

Rome, Economy Minister Giovanni Tria speaks before Chamber of Deputies (1200 GMT) and Senate (1400 GMT) on European Commission’s letter saying disciplinary procedure over Italian deteriorating public finances.

Rome, Luiss University holds “Diplomatic Forum”, Foreign Affaris Minister Enzo Moavero Milanesi attends (0730 GMT).

Milan, S&P Global Ratings holds “2019 Italy Sustainable Finance Conference” (0700 GMT).

Genoa, demolition of ‘Morandi’ bridge with explosives expected to end as of Tuesday.

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:...............................

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below