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Italy - Factors to watch on June 27
June 27, 2017 / 4:01 AM / 5 months ago

Italy - Factors to watch on June 27

The following factors could affect Italian markets on Tuesday.

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 .

ECONOMY

ISTAT releases June consumer and business confidence data (0800 GMT).

Assogestioni releases May fund flows data.

(*) ALITALIA

Investment fund Elliott is one of 18 potential bidders that have been given access to Alitalia’ financial data, Corriere della Sera and MF reported.

DEBT

Treasury sells 2.0-2.5 billion euros CTZ bonds due May 30, 2019; 0.5-1.0 billion euros over following two BTPei bonds: 0.10 percent, May 15, 2022 BTPei bond and 3.10 percent, Sept. 15, 2026 BTPei bond. Subscriptions close at 0900 GMT.

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on June 29.

COMPANIES

ITALY BANKS

Italy does not expect any more banks to need state aid after reaching a deal to wind down two ailing regional lenders, Economy Minister Pier Carlo Padoan said on Monday.

INTESA SANPAOLO

Moody’s Investors Service said Intesa Sanpaolo’s acquisition of good assets of failing banks Veneto Banca and Banca Popolare di Vicenza is credit positive because they will increase the bank’s current client base and unlock economies of scale.

CEO Carlo Messina told la Repubblica in an interview that the acquisition of the two Veneto-based banks did not change Intesa’s focus on wealth management as far as its new business plan was concerned.

BANCA CARIGE

The bank’s new CEO Paolo Fiorentino is studying the outcome of a due diligence Prelios Credit Servicing carried out on Carige’s bad loans as it does not match the lender’s own data, Il Sole 24 Ore reported. The paper said the ECB wanted the bank to improve coverage of unlikely-to-pay loans and that the size of a planned capital increase could rise above 650 million euros. Contrary to a previous plan, Carige prefers to raise fresh capital without converting subordinated debt.

BANCO BPM, UNIPOL, GENERALI

The bancassurance agreement between Banco Popolare and Unipol, Popolare Vita, should be terminated by the companies before the end of the week, Il Messaggero said. Generali, Zurich and and France’s Covea are knocking on the door of Banco BPM, it said.

MEDIASET

Institutional investors representing 13 percent of the company’s capital have confirmed they will attend Wednesday’s annual general meeting, la Repubblica reported, adding this meant that there was a good chance the broadcaster would win approval of a proposed buyback of treasury shares.

YOOX NET-A-PORTER

Shares in Italian online fashion retailer Yoox Net-A-Porter closed up almost 9 percent on Monday as traders cited reported interest from China e-commerce giant Alibaba Group. But a source familiar with the matter later denied the report.

TERNA

Terna said it had completed the acquisition from Gruppo Planova of two licenses for the creation and operation of around 500 km of electricity infrastructure in Brazil. The deal, announced in February, is worth around $180 million.

BIM

The head of Italy’s BIM said on Monday he was confident the private banking group would be sold on the market quickly following the decision to liquidate its main shareholder Veneto Banca.

UBI BANCA

The bank ends its capital increase.

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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