June 5, 2019 / 4:02 AM / 15 days ago

Italy - Factors to watch on June 5

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 .

POLITICS

The European Commission is likely to begin disciplinary procedures against Italy on Wednesday over the country’s failure to reduce public debt.

(*) The European Commission will launch disciplinary procedures against Italy on Wednesday with a letter stating that Rome’s fiscal policies lack prudence and could expose the nation to a shock loss of market confidence, newspaper La Repubblica said.

Italy’s ruling parties, the League and 5-Star Movement, reached a deal on Tuesday over an overhaul of convoluted public tender rules in a sign that the coalition government is finally overcoming weeks of infighting.

(*) Italy’s two deputy prime ministers, Matteo Salvini and Luigi Di Maio, discussed the possibility of breaching the European Union’s budget deficit rule, Italian daily Corriere della Sera said in an unsourced report on Wednesday.

ECONOMY

IHS Markit releases May service Pmi data (0745 GMT).

ISTAT releases monthly bulletin on the state of the economy in May (0800 GMT).

COMPANIES

Quarterly review of FTSE MIB blue-chip index is expected on Wednesday. The changes will take effect from June 24. NEXI could join the index.

(*) SIA, NEXI

Italian payment services group is considering a cross-border merger and the first candidate is French peer Worldline, il Sole said. The alternative option of a merger with Italian payment group NEXI has recently weakened, the newspaper added.

FIAT-CHRYSLER AUTOMOBILES

Fiat Chrysler has resolved key differences with France over its proposed merger with Renault, three sources told Reuters, as talks on the $35 billion tie-up plan progressed towards a possible agreement on Wednesday.

Renault’s board adjourned after a three-hour meeting on Tuesday and agreed to meet again in 24 hours after more negotiations..

(*) UNICREDIT

The interest of Italy’s biggest bank by assets in German rival Commerzbank is a “closed chapter” for geopolitical reasons, Il Messaggero said, adding that Unicredit will hold a board meeting on Wednesday on its new business plan to be presented in December.

(*) TELECOM ITALIA, GEDI

Italian infrastructure fund F2i and EI Towers reached a binding agreement to buy broadcasting company Persidera, currently owned 70% by the phone group and 30% by the publisher GEDI.

ENI

The head of oil trading and operations at Italian major Eni left the firm..

BANCA GENERALI

The Italian asset manager reported net monthly inflows worth 475 million euros in May, it said on Tuesday.

ATLANTIA

The Italian government has decided to ease the conditions under which it can revoke motorway concessions as part of a package of measures designed to unblock major projects, a source inside the ruling League party said on Tuesday.

DIASORIN

The Italian diagnostic specialist announced an expansion of collaboration with Qiagen for Quantiferon technology.

PRYSMIAN

Annual general meeting (1230 GMT).

DIARY

Rome, Huawei Italian unit representatives due to speak before parliamentary committee for security COPASIR (1100 GMT).

Rome, Industry Ministry Undersecretary Michele Geraci speaks at conference (1030 GMT).

Milan, Credito Valtellinese CEO Luigi Lovaglio attends bank’s event. (0930 GMT).

Milan, Prada Chairman Carlo Mazzi, Tamburi Investment Partners Chairman and CEO Giovanni Tamburi (0730 GMT) attend luxury summit.

Milan, Coima RES CEO Manfredi Catella, state property agency Agenzia del Demanio Director General Riccardo Carpino, Abitare In CEO Marco Grillo attend real estate event (730 GMT); think-tank Nomisma CEO Luca Dondi discloses report on real estate funds.

Turin, Compagnia di San Paolo Secretary General Alberto Anfossi, Foundation CRT Director General Massimo Lapucci attend news conference (0800 GMT).

Milan, “CFO Summit” starts (1230 GMT); ends on June 6. Expected attendees include state railways Ferrovie delo Stato CFO Roberto Mannozzi.

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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