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Italy - Factors to watch on June 2
June 2, 2017 / 4:00 AM / 6 months ago

Italy - Factors to watch on June 2

The following factors could affect Italian markets on Friday.

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, France and Germany said on Thursday they regretted U.S. President Donald Trump’s decision to withdraw from the Paris climate accord and dismissed his suggestion that the global pact could be revised.

COMPANIES

Bourse After Hours market closed.

ITALIAN BANKS (*) A failure to find a solution to a crisis gripping Italy’s Veneto-based banks would result in consequences similar in impact to a default by Greece, the head of one of the banks was quoted as saying on Friday. (*) Italy could present Brussels, as early as Friday, with a formal commitment letter by private equity firms Atlas, Centerbridge and Warburg Pincus and hedge fund Baupost, willing to rescue Italy’s Veneto banks, reported both Corriere della Sera citing sources and la Repubblica. (*) The letter would include the details of the operation, added Corriere della Sera, without giving further details. (*) The conditions set out by the private equity firms however are so “harsh” that it will be unlikely for members of the lenders’ boards to accept them, la Repubblica added.

(*) ITALIAN BANKS, POSTE ITALIANE

The Italian government is examining the possibility of an intervention by the post office group to rescue the Veneto banks, la Repubblica reported, without citing sources. Poste Italiane could either inject part of the capital needed by the two lenders, with an amount still to be defined, or could buy from Banca Popolare di Vicenza its shares in Cattolica Assicurazioni and the lender’s insurance businesses, the report added.

The two Veneto banks have sent a letter to Italy’s Treasury urging it to find a quick solution to rescue the two lenders, two sources close to the matter said on Thursday.

Italian lender Banca Popolare di Vicenza said it had issued bonds guaranteed by the state worth 2.2 billion euros on Thursday.

Italian bank Veneto Banca said on Thursday it had issued state-guaranteed bonds worth 1.4 billion euros.

(*) BANCA MONTE DEI PASCHI DI SIENA

The recapitalisation of the lender could amount to 8 billion euros, down from the earlier reported 8.8 billion euros, thus reducing the amount the government should inject to 5.6 billion euros, reported Il Messaggero.

TELECOM ITALIA

Telecom Italia appointed Vivendi’s chief executive Arnaud de Puyfontaine as its executive chairman on Thursday as the French media group further tightens its grip on Italy’s former monopoly telecoms network operator.

SAIPEM, ENI

The Italian oil contractor said on Thursday it had signed with Eni contracts for off-shore drilling in Mozambique, Mediterranean Sea and Black Sea for total value of $230 million.

ENI

Italian energy company Eni ENI.MI signed an $8 billion deal on Thursday to develop a gas field off the coast of Mozambique, the first of a series of projects that could transform the poor African nation into a major energy supplier to Asia.

FIAT CHRYSLER

Italian car sales rose 8.19 percent in May to 204,113 vehicles, the transport ministry said on Thursday. Fiat Chrysler share of the Italian car market was at 29.32 percent in May, according to Reuters calculations.

UNICREDIT, BANK PEKAO

The Italian bank has signed an agreement to sell its stakes in Pioneer Pekao Investment Management, Pekao Pioneer PTE and Dom Inwestycyjny Xelion sp ZO.O. to Bank Pekao, it said on Thursday. The total value for the transaction is equal to 142 million euros, UniCredit said in a statement.

ATLANTIA

Aeroporti di Roma has issued bonds worth 500 million euros maturing in 2027, paying a coupon of 1.625 percent. The notes have been placed with institutional investors, with a demand three times the offer.

MEDIASET

The Italian broadcaster said on Thursday it had asked the competition watchdog and the communications regulator AGCOM for changes of terms of tender for TV soccer broadcasting rights for Italy’s top Serie A league.

(*) FINCANTIERI

Italy and France are ready to work together on the terms of the sale of a large stake in the STX French shipyard to the Italian group, after remarks by France’s President Emmanuel Macron on Wednesday, reported Il Sole 24 Ore. The report added that the deal will not be changed but only tweaked, without giving details.

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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