March 12, 2020 / 5:00 AM / a month ago

Italy - Factors to watch on March 12

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

Italy added new restrictions on Wednesday to a lockdown imposed to fight the coronavirus, ordering bars, restaurants and beauty parlors to close after the highest daily increase in deaths of any country since the outbreak began.

ECONOMY

Prime Minister Giuseppe Conte announced that he would ramp up spending to soften the economic blow from the virus, allocating 25 billion euros ($28.3 billion) to support firms and families.

Economy Minister Roberto Gualtieri warned there may be a “significant contraction” in gross domestic product this year.

DEBT

Treasury sells 3.0-3.5 billion euros 0.60% new BTP bonds due June 15, 2023; 1.0-1.5 billion euros 3.10% BTP bonds due March 1, 2040; 1.5-2.0 billionc euros following two BTP bonds: 0.85% BTP bonds due Jan. 15, 2027 and 1.35% BTP bonds due April 10, 2030. Subscriptions close at 1000 GMT.

TELECOM ITALIA

TIM expects to make decisive progress this year on plans to provide Italy with ultra-fast broadband, but it will never accept a minority stake in any unified network created by a tie-up with smaller rival Open Fiber.

CNH INDUSTRIAL

The industrial vehicle maker said on Wednesday that, where necessary, it would temporarily close Italian production facilities, to allow the implementation of additional safety measures in response to a coronavirus outbreak in the country.

ENI, ENEL, LEONARDO, POSTE , TERNA, ENAV

Rome is considering to postpone for up to three months shareholders’ meetings of Italy’s main state-controlled companies following the coronavirus emergency, daily Il Sole 24 Ore said, adding there was no agreement within the government over the composition of these groups’ new boards.

MONTE DEI PASCHI DI SIENA

Names of candidates for the bank’s new board will be made public as planned on Thursday with no delay due to the virus emergency, daily Il Sole 24 Ore said. The report added that the 5 Star Movement, one of Italy’s ruling parties, supported former Creval CEO Mauro Selvetti as the bank’s new chief, while the Treasury favoured Unicredit’s Gianni Franco Papa and former Carige commissioner Fabio Innocenzi.

BRUNELLO CUCINELLI

The Italian luxury group said it expected flat revenues in the first quarter compared to last year as the spread of the coronavirus outbreak offset an otherwise strong start to 2020.

(*) MONCLER

The luxury puffer jacket maker said on Wednesday it cancelled its 16 March extraordinary shareholders’ meeting following measures adopted by Italian authorities in response to the coronavirus spread.

HERA

Main shareholders at the regional utility are geared to confirm Tomaso Tommasi di Vignano as chairman and Stefano Venier as chief executive, daily Il Sole 24 Ore said on Thursday.

SAFILO

The Italian eyewear maker said on Wednesday that 2020 had started well and, at this stage, the impact on the business of the coronavirus outbreak was negligible.

SALINI IMPREGILO

Italy’s biggest construction company said on Wednesday it aims to reach in 2020 a high single-digit revenue growth and an EBITDA margin in the range of 7.0%-7.5%.

It holds conference call on FY results (0800 GMT).

JUVENTUS

Juventus defender Daniele Rugani has become the first Serie A player to test positive for coronavirus, the Turin side said on Wednesday.

AS ROMA

UEFA postponed two of Thursday’s Europa League ties after one side, Spain’s Getafe, refused to travel to Italy because of the coronavirus outbreak and another, AS Roma, said they had been denied permission to travel to Spain.

Board meetings on FY results: ASSICURAZIONI GENERALI (press release on March 13), LEONARDO, NEXI (preliminary results on Feb. 12), SAIPEM (preliminary results on Feb. 26), AUTOGRILL (preliminary results on Feb. 16) followed by conference call (1600 GMT), BANCA IFIS (preliminary results on Feb. 11), CREDITO EMILIANO (preliminary results on Feb. 6), ENAV , RAI WAY followed by conference call, TOD’S (preliminary results on Jan. 30).

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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