June 27, 2019 / 6:33 AM / 2 months ago

Italy - Factors to watch on June 27

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 clinch a deal with the European Commission over its contested public finances without setting a new goal for next year’s budget deficit, a senior government source told Reuters.

ECONOMY

ISTAT releases June consumer and business confidence data (0800 GMT) and May non-EU foreign trade data (0900 GMT).

DEBT

Treasury sells BTP and CCTeu bonds. Subscriptions close at 0900 GMT.

ATLANTIA

Italy’s ruling League party opposes a request by its coalition partner, the 5-Star Movement, to revoke the motorway concession of the Italian infrastructure group, a senior League source said on Wednesday.

TELECOM ITALIA (TIM)

The Italian phone group holds a board meeting to discuss a single-network project with Open Fiber.

(*) The board will discuss progress made so far in the search for a partner for a consumer credit joint-venture, Il Messaggero reported on Thursday citing Radiocor news agency.

(*) TIM’s Brazilian unit TIM Partecipacoes said on Wednesday it would buy back up to 930,466 own shares through June 2020.

ASSICURAZONI GENERALI

Italy’s top insurer and Spanish rival Grupo Catalana Occidente are vying to take control of Portuguese insurance firm Tranquilidade in a deal worth up to $682 million, five sources familiar with the matter told Reuters.

UNICREDIT

The Italian lender said on Wednesday that the sale of a 750 million euros senior non-preferred bond had completed its TLAC subordinated funding plan for 2019.

(*) CARIGE (**)

Italy’s top banks are not happy with a revised proposal for ailing lender Carige by U.S. fund Apollo which increases the planned capital injection to 700 million euros but is otherwise similar to the previous one which they rejected, Il Messaggero reported.

(**) Shares indefinitely suspended from trading.

(*) BREMBO

The company is eyeing an acquisition target of “significant size”, even as big as the Italian brake maker itself, Executive Vice-President Matteo Tiraboschi told Il Sole 24 Ore in an interview.

(*) FINCANTIERI

A shareholder agreement signed by the Italian shipbuilder and France’s Naval Group for their military ship joint-venture envisages unanimous decisions on all extraordinary operations such M&A as well as on decisions over contracts and sharing work between the two companies, Il Sole 24 Ore reported.

SALINI IMPREGILO, ASTALDI (*) State lender CDP could invest 250 million euros in Salini Impregilo, out of a total capital injection of 600 million euros needed to fund the rescue of ailing rival Astaldi and create a national construction champion, la Repubblica reported.

Salini Impregilo holds savings shareholder meeting (0800 GMT).

I GRANDI VIAGGI

Board meeting on H1 results.

TISCALI

Ordinary shareholders’ meeting (1300 GMT).

Annual general meetings: BIANCAMANO, BORGOSESIA (1200 GMT), CDR ADVANCE CAPITAL (1300 GMT), ECOSUNTEK (0800 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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