June 13, 2019 / 4:00 AM / 6 days ago

Italy - Factors to watch on June 13

The following factors could affect Italian markets on Thursday.

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 aims to convince the EU to delay until the autumn a decision on whether to open a disciplinary procedure over its finances, which are expected to look healthier after tax revenue data in July, four coalition sources said on Wednesday.

Prime Minister Giuseppe Conte said on Wednesday Italy’s public finances are going better than expected and that he is confident of convincing the European Union to drop threatened disciplinary action.

DEBT

Italy’s renewed dispute with European Commission over its deficit highlights persistent uncertainty over the scale, timing and nature of fiscal adjustment, Fitch Ratings said on Wednesday adding that a broad use of ‘mini-BOTs’ for payment purposes would have negative rating implications.

Treasury sells 2.25-2.75 billion euros 1.0% BTP bonds due July 15, 2022; 1.0-1.5 billion euros 3.35% BTP bonds due March 1, 2035; 1.75-2.25 billion euros following two BTP bonds: 2.10% due July 15, 2026 and 1.25% due Dec. 1, 2026. Subscriptions close at 0900 GMT.

FIAT CHRYSLER AUTOMOBILES

Renault sees the strengthening of its Nissan alliance as a priority after a project to merge with Fiat Chrysler failed last week, the French car maker’s chairman Jean-Dominique Senard said on Wednesday.

(*) TELECOM ITALIA, ENEL

State-lender Cassa Depositi e Prestiti (CDP) would need the approval of its joint-venture partner Enel, if it wanted to sell its 50% stake in broadband operator Open Fiber to Telecom Italia (TIM), Il Sole 24 Ore said citing Open Fiber bylaws.

(*) CARIGE (shares suspended from trading)

Private equity fund Apollo could present shortly a binding offer for the struggling bank, on condition that Carige withdraws the claim for damages filed against two of its former executives and managers at U.S. fund, il Sole 24 Ore said.

ITALGAS

The Italian gas operator sees net profit growing average of 5-7% per year, Chief Executive Paolo Gallo said on Wednesday.

(*) TERNIENERGIA

Group’s digital company Softeco has won a contract from EU Commission for air, marine and rail transport safety system, company said.

TAMBURI INVESTMENT PARTNERS

Bondholders meeting (1500 GMT).

Annual general meetings: ANTARES VISION (0930 GMT), COSE BELLE D’ITALIA.

DIARY

Milan, conference on “Italy and India. New energies for an Ancient Relationship: Priorities and Tools”, expected attendees include UniCredit Chairman Fabrizio Saccomanni, Astaldi Deputy Chairman Michele Valensise (1500 GMT).

Milan, “Energy Festival” starts (0800 GMT); ends on June 15. Expected attendees include Terna CEO Luigi Ferraris, Iren Chairman Renato Boero, A2A CEO Valerio Camerano.

Milan, Italian luxury goods companies association Altagamma presents updates on two reports: ‘Update Monitor Altagamma’ on global luxury spending and ‘Consensus Altagamma’ on 2019 market trends (0900 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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