June 18, 2019 / 6:37 AM / in a month

Italy - Factors to watch on June 18

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 believes it can satisfy the European Commission’s demands over its public accounts for this year, but the real sticking point in negotiations is now about 2020, government sources say.

BANKS

An Italian parliamentary committee approved late on Monday a tax measure to spur mergers among banks based in the country’s poorer south, a lawmaker of the ruling League party said, warning of lenders in the region at risk of default.

CREDITO VALTELLINESE

The Italian mid-sized lender said on Tuesday it would spin off its bad debts into a separate unit and sell half of them, in order to roughly halve its gross soured loan ratio to below 6.5% in 2023.

Creval said on Tuesday Chief Financial Officer Ugo Colombo and Chief Commercial Officer Roberto Tarricone were leaving the bank as it appointed a slate of new senior executives.

French businessman Denis Dumont has increased its stake in Creval to just above 8%, Il Sole 24 Ore said citing sources close to the shareholder.

CEO Luigi Lovaglio presents the bank’s new industrial plan (0900 GMT).

UBI BANCA

The lender has mandated KPMG to select a single insurance partner, Il Sole 24 Ore said, adding non-binding offers would probably arrive by the end of the month.

CARIGE (shares suspended)

A very low offer for the bank has been submitted to the adviser of the banking fund that holds Carige’s hybrid debt, Il Sole 24 Ore reported, adding the offer may come from U.S. fund Apollo. The paper said the fund was likely to reject the offer at a meeting on Wednesday as too cheap.

Il Messaggero said new funds for 450-500 million euros would be injected into Carige, according to the new plan by Apollo that envisages the U.S. fund investing 120-130 million euros, while the FITD banking fund and lender Banco Desio would convert into shares Carige’s 320 million euro hybrid bond.

UNIPOL, BPER BANCA

Unipol has bought an additional 1.2% stake in Italy’s sixth-largest bank for 24.1 million euros, a regulatory filing showed on Monday. Unipol’s shareholding in BPER Banca now stands at 18.5%.

FIAT CHRYSLER

The car maker’s registrations in Europe fell 8.3% year-on-year in May, while its market share shrank to 7.0% form 7.7% a year earlier, ACEA data showed. Overall registrations in the region were almost unchanged in May according to ACEA.

(*) LEONARDO

The defence group received a 75 million euro order for new helicopters from Italian National Fire Corps.

HERA, ASCOPIAVE

Italian regional utility Ascopiave said on Monday it had agreed to place its retail gas and power clients in a joint venture with larger peer Hera in return for a series of gas distribution assets in the north east.

AS ROMA

AS Roma’s former captain and record goalscorer Francesco Totti left his job in the management team on Monday, bitterly complaining that the club’s U.S. owner had never given him a proper role.

(*) FALCK RENEWABLES

Falck Renewables investor said it had withdrawn a placement of its 1.77% stake in accelerated bookbuilding.

GIBUS IPO-GIBUS.MI

Awnings and pergolas manufacturer Gibus expected to debut on AIM segment.

PIERREL

Ordinary shareholders’ meeting (0830 GMT).

NET INSURANCE

Board meeting to approve update of 2019-2023 industrial plan.

Annual general meetings: ALFIO BARDOLLA TRAINING GROUP , COSE BELLE D’ITALIA (0900 GMT), UNIEURO (1230 GMT).

DIARY

Naples, Prime Minister Giuseppe Conte visits Cisco Academy and Apple Developer Academy (0700 GMT); gives speech at graduation ceremony; attends conference (0915 GMT); attends report (1315 GMT).

Rome, Italian small companies association Confartigianato holds annual assembly with Deputy Prime Minister and Industry Minister Luigi Di Maio, Deputy Prime Minister and Interior Minister Matteo Salvini (0830 GMT).

Rome, welfare institute INPS holds conference on blockchain with Deputy Prime Minister and Industry Minister Luigi Di Maio expected to deliver closing address.

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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