June 12, 2020 / 4:02 AM / 25 days ago

Italy - Factors to watch on June 12

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 will decide by July whether to ask for a loan from the European Stability Mechanism (ESM) bailout fund to help relaunch its coronavirus-battered economy, Prime Minister Giuseppe Conte told various newspapers.

ATLANTIA

The Italian infrastructure group swung to a net loss in the first quarter as the impact of the coronavirus crisis compounded fallout from a prolonged political dispute over its motorway concession.

The government will take a decision on the disputed motorway concession of Atlantia’s unit Autostrade per l’Italia in a week or two, Prime Minister Giuseppe Conte told La Repubblica.

ASSICURAZIONI GENERALI

Italy’s top insurer said on Thursday it had reached a settlement agreement with Brazilian bank BTG Pactual to end a dispute over the sale of Swiss private bank BSI. Generali said it would pay BTG Pactual 245 million Swiss francs ($260 million) by way of compensation and price adjustment, with a net impact of around 183 million euros ($207 million) on its 2020 first half results.

UNICREDIT, INTESA SANPAOLO

Italy’s antitrust authority said it was probing four financial institutions, including the country’s top banks Unicredit and Intesa Sanpaolo, for allegedly withholding information and imposing unnecessary conditions on borrowers who wanted to access coronavirus support measures.

INTESA SANPAOLO, BPER BANCA, UBI BANCA

Italian market watchdog Consob is set to approve the offer document of Intesa’s bid for rival UBI next week, Il Sole 24 Ore reported on Friday.

Italy’s Intesa Sanpaolo is in talks to revise the terms of an accord to sell branches and assets to BPER Banca in order to overcome objections raised by Italy’s antitrust authority to its proposed takeover bid for rival UBI Banca, a source close to the matter said on Thursday.

BPER is set to increase the number of Intesa’s branches it would buy to offset antitrust concerns, MF said.

Intesa could raise by 100 units the number of branches to be sold to BPER and an agreement on the matter could be reached by Monday, Il Sole 24 Ore said.

(*) FINCANTIERI

The government has approved the sale to Egypt of two warships made by shipbuilder Fincantieri, Corriere della Sera said.

CATTOLICA

A group of small investors at the Italian insurer created a shareholder pact, dubbed ‘Le Api’, in an attempt to block a 500 million euros capital increase required by Italy’s insurance regulator, MF daily reported on Friday.

TELECOM ITALIA

The government is working on a plan to create a single national fiber optic network as a part of a recovery plan to relaunch its economy after the coronavirus crisis, Italian Prime Minister told papers on Friday.

Italian State lender Cassa Depositi e Prestiti could increase its stake in Telecom Italia in the next few months to facilitate a plan to merge TIM’s network assets with that of rival Open Fiber, MF daily reported on Friday.

UBI BANCA

The Italian bank sold seven properties in Milan, realising a final gross gain of around 54 million euros.

MONCLER - Italy’s luxury outwear maker said it had signed an agreement with France’s Interparfums to start selling perfumes, as it seeks to diversify its brand and lessen the deep impact of the coronavirus crisis on the luxury goods sector.

(*) DIASORIN

The company said it had CE marked its Simplexa Congenital CMV Direct kit, a new molecular diagnostic test that enables direct detection of cytomegalovirus DNA in both saliva swab and urine specimens from babies up to 21 days old, it said on Friday.

(*) BANKS

The European Commission has given its green light to the 1.6 billion euro rescue plan for Banca Popolare di Bari, La Repubblica reported.

ITALGAS

Italy’s biggest gas distributor said on Thursday that its core earnings could rise by as much as 8% this year as its digitalisation drive improves efficiency and mitigates the impact of the coronavirus pandemic.

BANCA POPOLARE DI SONDRIO

Annual general meeting (0800 GMT).

DIARY

Goldman Sachs holds “European Financials Virtual Conference” live streaming with:

* Bank of Italy Senior Deputy Governor Daniele Franco (0700 GMT);

* Eurogroup President and Portugal’s Finance Minister Mario Centeno (0800 GMT);

* European Economic Commissioner Paolo Gentiloni (1000 GMT);

* Italian Economy Minister Roberto Gualtieri (1100 GMT);

* ECB Supervisory Board of the Single Supervisory Mechanism (SSM) Chairman Andrea Enria (1200 GMT);

* International Monetary Fund (IMF) European Department Deputy Director Mahmood Pradhan (1300 GMT);

* European Banking Authority (EBA) President José Manuel Campa (1400 GMT);

* Bank Supervision (BCBS) Basel Committee Chairman and Banco de Espana Governor Pablo Hernandez de Cos (1500 GMT).

ISPI holds online event on “Beyond the emergency: Italy and Europe”; expected attendees include Italian European Affairs Minister Vincenzo Amendola (0900 GMT).

Trenitalia holds online news conference to present “2020 Summer Timetable, all the news for tourism in Italy” with state railways Ferrovie delo stato CEO Gianfranco Battisti, Trenitalia Chairman Tiziano Onesti and CEO Orazio Iacono (0930 GMT).

Barberino Del Mugello, Atlantia unit Autostrade per l’Italia holds ceremony for demoliton of last diaphragm of ‘Santa Lucia Gallery’ with Chairman Giuliano Mari and CEO Roberto Tomasi (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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