June 7, 2018 / 6:42 AM / 14 days ago

Italy - Factors to watch on June 7

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

Cabinet meeting.

Prime Minister Giuseppe Conte comfortably won a confidence vote in the lower house of parliament on Wednesday, confirming his government’s majority after promising tough negotiations with Europe over the economy.

ECONOMY

ISTAT releases April retail sales (0800 GMT) and monthly bulletin on the state of the economy in May (0900 GMT).

Bank of Italy releases May data on Target 2 liabilities and European Central Bank funding to Italian banks.

DEBT

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on June 12.

BANKS

The head of Italy’s fifth-largest lender UBI Banca warned of risks to bank funding if concerns over the country’s new government continued to keep markets on edge.

Italy’s new government will review the previous administration’s shake up of mutual and co-operative banks, Prime Minister Giuseppe Conte told parliament on Wednesday, without giving any details.

A prominent senator in Italy’s ruling coalition said a reform of cooperative banks, which the new government wants to change, would allow foreigners to gain further traction in the local market unless it is amended. (*) The government could technically introduce caps on the size of stakes shareholders can own in mutual, or Popolari, banks, MF said.

SAIPEM

The oil services group said on Wednesday a consortium it headed had won a 970 million euro contract for a high-speed rail link between the cities of Brescia and Verona.

TELECOM ITALIA (TIM)

Italy’s market watchdog said on Wednesday a plan to spin-off into a separate company the telecoms group’s fixed-line network was eligible for market analysis. (*) A TAR administrative court suspended on Wednesday the 74 million euro fine slapped on TIM under golden power rules for failure by its main shareholder Vivendi to notify the fact it had assumed control of the group, Corriere said.

UNIPOLSAI, POSTE ITALIANE

The chairman of UnipolSai said Italy’s second-biggest insurer had been contacted by Poste Italiane about a possible partnership in car insurance and would evaluate the proposal.

(*) LEONARDO, CNH INDUSTRIAL

The signing of the contract between Iveco, Oto Melara and the Italian army for the supply of Centauro II armoured vehicles is imminent, MF says.

(*) EXOR

Exor has launched a 100 million euro fund to fund technology start-ups, newspapers said.

(*) SAES GETTERS

Saes Getter agreed to sell its gas purification business to U.S. company Entegris for $355 million.

(*) IPO

Italy’s Carel has sets a price of 7.2 euros per share for its IPO, the company said.

AS ROMA

Capital increase ends.

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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