March 10, 2020 / 5:04 AM / 20 days ago

Italy - Factors to watch on March 10

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 .

POLITICS

The whole of Italy will be placed under lockdown until next month, Prime Minister Giuseppe Conte announced on Monday, in an unprecedented and unexpected new attempt to beat coronavirus in Europe’s worst-affected country.

ECONOMY

(*) The Italian government has already pledged to spend 7.5 billion euros ($8.6 billion) to cushion the economic impact of the virus crisis, but Prime Minister Conte indicated on Monday that more money would be needed.

A government source said the Treasury was considering lifting the budget deficit to 2.8% of national output this year. It only announced last week that it planned to hike the deficit to 2.5% from a previous goal of 2.2%.

Rome is considering a state guarantee scheme to support banks offering debt moratoriums to firms and households grappling with the economic fallout from Italy’s coronavirus outbreak, one of the world’s worst.

ISTAT releases January industrial output (0900 GMT).

Bank of Italy releases January data on bank lending and domestic government bond holdings at Italy-based banks.

DEBT

Italy’s Treasury said on Monday it would offer 5.5-7.0 billion euros over four bonds, including a new three-year BTP line, at auction on March 12.

FIAT CHRYSLER AUTOMOBILES

The car maker said on Monday it had taken a number of measures to protect its staff and comply with the latest government measures aimed at fighting the coronavirus emergency, but all its sites in the country were fully operational. The company said it had also adopted preventive measures to safeguard its supplies.

UNICREDIT

Italy’s biggest bank said on Monday it would hold its annual general meeting on April 9 barring new measures by authorities advising against holding events in Milan or banning them altogether.

(*) BPER, INTESA SANPAOLO, UBI

The Italian regional lender could seek a lower price to buy branches and assets being spun off in the proposed Intesa-UBI tie-up after market slump triggered by the coronavirus epidemic, Il Sole 24 reported

Intesa Sanpaolo intends to press on with its all-paper takeover bid for UBI with no changes, the newspaper added.

SALVATORE FERRAGAMO

Board meeting on FY results (preliminary results on Jan. 28), followed by conference call (1700 GMT).

TERNA

Board meeting on FY results (preliminary results on Feb. 19), followed by conference call to present 2020-2024 strategic plan (1400 GMT)

(*) SAFILO GROUP

The Italian eyewear maker said on Tuesday it had signed a 10-year licence agreement to design, manufacture and distribute Isabel Marant eyewear.

TELECOM ITALIA (TIM)

Board meeting on FY results

CREDITO VALTELLINESE

Board meeting on FY results (preliminary results on Feb. 5)

MEDIASET

Board meeting on FY results (press release on March 11)

(*) JUVENTUS, AS ROMA, LAZIO

All sports events, including top flight Serie A soccer matches would be suspended as a part of measures announced on Monday by Italian Prime Minister Giuseppe Conte to stop the spread of the coronavirus in Europe’s worst-affected country.

MOLMED

The Italian pharmaceutical group said on Monday it had swung to a core profit of 3.3 million euros in 2019 compared to a 2.2 million euro loss the year before on a 42% rise in revenues to 34.3 million euros.

AEROPORTO DI BOLOGNA

The Bologna airport operator said on Monday passenger traffic was down 57% from a year before the first seven days of March.

RCS MEDIAGROUP, CAIRO COMMUNICATION

The two Italian publishers said on Monday they were both moving to March 26 board meetings to approve full-year results.

DIARY

Rome, Economy Minister Roberto Gualtieri (1630 GMT) speak before Senate and Chamber of Deputies Budget committees on increase of 2020 deficit.

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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