June 24, 2020 / 4:02 AM / 13 days ago

Italy - Factors to watch on June 24

The following factors could affect Italian markets on Wednesday.

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 .

ECONOMY

Assogestioni releases May fund flows data.

ATLANTIA

At an urgent meeting called on Tuesday’s night, Italy’s Prime Minister Giuseppe Conte, Economy Minister Roberto Gualtieri and Transport head Paola De Micheli agreed to press on with negotiations with the Benettons over Atlantia’s motorway concession, a government source said late on Tuesday. The three have decided a set of minimum conditions that should be met by Atlantia’s motorway unit to avoid the revocation, he said.

(*) The conditions put forward by the government include a vast investment plan, a reduction of toll fees and compensation plan, several papers said on Wednesday.

(*) A possible revocation of the motorway unit’s concession is no longer on the table and an agreement between Atlantia and the government is now at hand, several papers said. All point to Atlantia reducing its stake in the motorway unit to under 50% as one of the conditions and a majority role for state lender CDP e infrastructure fund F2i.

(*) According to Corriere della Sera, which said an agreement was “imminent”, the agreement called for a 5% reduction in motorway tariffs. La Stampa, which said an agreement could be found as early as Friday, mentions a possible tariff cut of between 5% and 10%.

The holding company of the Benetton family, which owns stakes in several companies including Atlantia and Autogrill , reported a sharp fall in 2019 profit, adding it would not pay any dividend on 2019 results.

“Edizione will continue to work alongside the companies it is invested in to promote their growth and development, also involving partners who share their strategy and governance,” it said.

MEDIASET

Mediaset does not rule out future acquisitions to grow or a sale of non-core assets, the Italian broadcaster said in a response to investor questions on Tuesday ahead of a shareholder meeting on June 26.

FIAT CHRYSLER

A federal judge in Detroit on Tuesday ordered the chief executives of automakers General Motors Co and Fiat Chrysler Automobiles NV (FCA) to meet by July 1 to try to resolve GM’s racketeering lawsuit.

CNH INDUSTRIAL

CNH Industrial on Tuesday priced $600 Mln of 1.950% notes due 2023, at the issue price of 99.370%.

(*) CATTOLICA

Vittoria Assicurazioni could come to Cattolica’s rescue by investing in the planned 500 million capital increase requested by Italy’s insurance regulator, il Giornale said.

FINECOBANK

Jo Hambro Capital Management had a 3.1% stake as of June 17, a regulatory filing showed on Tuesday.

LEONARDO

Blackrock had indirect 5.012% stake in Leonardo as of June 18, a regulatory filing showed on Tuesday.

CY4GATE

Cyber sector company CY4GATE debuts on AIM segment.

RAI WAY

Annual general meeting (0900 GMT).

DIARY

Bank of Italy holds videoconference to present report on the “Economy of Lombardy region” with Milan headquarter Director Giuseppe Sopranzetti, Prada Chairman Carlo Mazzi, Bank of Italy Director General Daniele Franco (1400 GMT).

‘Insurance Day’ on “Ensuring resilience. How the role and business of insurance companies is changing with respect to companies and people” with insurers’ association ANIA President Maria Bianca Farina, Allianz Italian unit CEO Giacomo Campora, UnipolSai General Manager Matteo Laterza (0800 GMT).

Rome, European Investment Bank (EIB) Vice President Dario Scannapieco speaks via videoconference before Chamber of Deputies EU Policy Committee (1300 GMT).

Rome, state auditor ‘Corte dei Conti’ holds videoconference on “Ceremony of equalisation of the general state accounts” with Sections gathered together President Ermanno Granelli, state auditor President Angelo Buscema (0900 GMT).

Rome, tax agency Director Ernesto Maria Ruffini speaks via videoconference before Chamber of Deputies Finance Committee on issues related to electronic invoicing (1115 GMT).

Rome, Environment Minister Sergio Costa speaks before Committee for inquiry into the waste cycle and environmental offences (1200 GMT).

Milan, “RE Italy”, panel on “Investment prospects in changing cities” with Covivio Italian unit CEO and Beni Stabili Managing Director Alexei Dal Pastro, Risanamento Managing Director Davide Albertini Petroni (1030 GMT); panel on “Real Estate post Coronavirus projections” with Nomisma CEO Luca Dondi, Scenari Immobiliari President Mario Breglia (1230 GMT); panel “Hospitality after the health emergency” with Nova RE CEO Stefano Cervone (1330 GMT); panel “The future of post Coronavirus brokerage” with Compagnia Immobiliare Italiana CEO Angelo Musco (1430 GMT).

Milan, Unipol holds webinar on “Data protection and digital fears of Italians” with CEO Carlo Cimbri, Cisco Italian unit CEO Agostino Santoni (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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