June 4, 2018 / 4:00 AM / in 5 months

Italy - Factors to watch on June 4

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

Giuseppe Conte was sworn in on Friday as Italy’s prime minister, heading western Europe’s first anti-establishment government bent on overhauling European Union rules on budgets and immigration.

S&P Global Ratings said on Friday that the formation of the new government in Italy should have no immediate effect on its sovereign credit ratings on the country.

There is no threat of a new sovereign debt crisis in the euro zone despite an anti-establishment coalition government taking power in Italy, European Commission President Jean-Claude Juncker said in remarks published on Saturday.

Germany’s Angela Merkel has offered her most detailed response to French President Emmanuel Macron’s ideas for reforming Europe, seeking to avert a damaging rift with Paris at a time of high anxiety over Italy and growing transatlantic tensions.

ECONOMICS

Italy posted a state sector budget deficit of around 7.9 billion euros in May, increasing slightly from a deficit of 7.568 billion euros in the same month last year, the Treasury said on Friday.

Italy’s new Economy Minister Giovanni Tria said on Friday that none of the country’s parties wanted to leave the euro zone and neither did he.

Credit rating agency S&P said on Friday that the formation of the new government in Italy should have no immediate effect on its sovereign credit ratings on Italy (BBB/Stable/A-2).

Italy’s new anti-establishment government will change the labour reform introduced by the previous administration, Labour and Industry Minister Luigi di Maio said.

DEBT

German Chancellor Angela Merkel has ruled out debt relief for Italy, saying in a newspaper interview published on Sunday that the principle of solidarity among euro zone member states should not turn the single currency bloc into a debt-sharing union.

UNICREDIT

Italy’s biggest bank, UniCredit, is exploring a merger with France’s Societe Generale in a move that would see the European banks leading the way for banking mergers on the continent, the FT said on Sunday.

FIAT CHRYSLER

The car maker departing Chief Executive Sergio Marchionne delivered a plan on Friday to ramp up sport utility vehicles and invest 9 billion euros ($10.5 billion) in electric and hybrid cars in a bid to double operating profit by 2022.

Fiat Chrysler (FCA) wants to set up its own car financing business in the United States under a new five-year plan and is in talks with Santander Consumer USA to buy its share in their joint venture.

Italian car sales fell 2.78 percent in May, according to data released by the country’s Transport Ministry. Fiat Chrysler’s share of the Italian car market stood at 27.77 percent the same month according to Reuters calculations.

Fiat Chrysler said on Friday its U.S. sales in May climbed 11 percent to 214,294, on the strength of retail deliveries to individual customers.

BREAKINGVIEWS -Fiat Chrysler shareholders have waved the yellow flag on Sergio Marchionne’s victory lap.

SAIPEM (*) Saipem has been awarded a contract for a pipeline project in the Middle East worth around $1.3 billion.

BANCA MONTE DEI PASCHI DI SIENA

The lender is preparing to sell around 2 billion euro worth of unsecured loans, Il Sole 24 Ore said on Sunday. Work on the transaction was launched in the last few weeks and the sale will kick-off in September, the paper added.

GENERALI, POSTE ITALIANE, UNIPOLSAI

Offers for the Post Office’s plans to distribute car insurance are expected in the coming days, MF said on Saturday. Unipol, Generali and some foreign players have shown interest, while Cattolica and Reale Mutua have decided to not take part in the process, the paper added.

(*) PARMALAT

There is no plan to integrate Parmalat with its majority shareholder Lactalis, Parmalat’s CEO Jean-Marc Bernier told Corriere della Sera’s L’Economia insert in an interview on Monday.

SNAM

Italy’s newly appointed minister responsible for the south, Barbara Lezzi, said on the TAP pipeline project “we would like to shut it, also quickly”.

PRYSMIAN

The closing of Prysmian’s acquisition of General Cable is expected to occur on June 6, the two companies said in a statement.

ANSALDO STS

Swiss bank UBS had a potential holding of 7.232 percent in Italy’s Ansaldo STS as of May 23, a filing published by Italy’s market watchdog showed on Friday.

(*) PIQUADRO

Richemont has completed the sale of its struggling French leather bag maker Lancel to Italian high-end briefcase maker Piquadro in a profit share deal, the luxury goods maker said on Monday.

(*) TAMBURI INVESTMENT PARTNERS

The company is examining seven new investments, CEO Giovanni Tamburi told La Stampa in an interview.

ARCA ASSET MANAGER

The sale of the combined 40 percent stake in Arca held by Popolare di Vicenza and Veneto Banca, the two Veneto banks under liquidation, has officially kicked off and expressions of interest are due June 12, La Repubblica and Il Sole 24 Ore said on Saturday. Binding bids are due July 10. BPER and Banca Popolare di Sondrio are seen in pole position to acquire the stake, Il Sole added.

Trade ex-dividend: BioDue of 0.06 euro per share; Emak of 0.035 euro per share; Tecnoinvestimenti of 0.14 euro per share; Toscana Aeroporti of 0.531 euro per share.

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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