March 14, 2019 / 5:03 AM / 2 months ago

Italy - Factors to watch on March 14

MILANO, March 14 (Reuters) - 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 would accept an extension of article 50 on Britain’s exit from the European Union if London requests it, junior foreign minister Guglielmo Picchi said on Wednesday.

ECONOMY

Italy is not a threat for Europe but it faces a technical recession and its challenge is longer-term growth, ECB board member Benoit Coeure said on Wednesday.

BANKS

Italy will approve a decree in the next few days to renew a state-backed guarantee scheme designed to help banks offload bad loans, two sources close to the matter told Reuters on Wednesday.

TELECOM ITALIA

Proxy adviser Glass Lewis said on Wednesday Telecom Italia’s shareholders should reject a proposal by top investor Vivendi’s to replace five board members at a March 29 shareholder meeting.

Telecom Italia board will meet on Thursday to respond to auditors’ criticism on corporate governance issues.

The phone group holds board meeting (afternoon). (*) Alessandro Falciai, the former chairman of Italian lender Monte dei Paschi, is seen as a possible candidate for the post of TIM’s chairman, Il Sole 24 Ore said. However, current Chairman Fulvio Conti does not want to step aside, the paper added.

LEONARDO

Italian defence group Leonardo said on Wednesday revenue would grow to between 12.5-13 billion euros this year after it rose above its guidance in 2018 driven by helicopters, electronics and defence and security systems.

Conference call on FY results (0830 GMT). (*) Leonardo has no plans to sell U.S. unit Drs and wants to grow in the helicopter business internally, CEO Alessandro Profumo told Il Sole 24 Ore in an interview.

(*) ASSICURAZIONI GENERALI

Italy’s top insurer Assicurazioni Generali raised its dividend for 2018 after beating all the targets in its previous business plan and posting growth in net and operating profits.

FIAT CHRYSLER

The leader of UAW union on Wednesday warned that job security and preventing the shift of U.S. jobs to Mexico would be top priorities in contract talks with Detroit’s automakers, including Italian-American group.

Fiat Chrysler Automobiles will recall 862,520 gasoline-powered vehicles in the U.S. that do not meet emissions standards, the Environmental Protection Agency said on Wednesday.

SAIPEM

The Italian oil contractor Saipem won onshore drilling contracts and extensions worth about $220 million, the company said on Wednesday.

(*) INTESA SANPAOLO

There’s an agreement to confirm Gian Maria Gros-Pietro as chairman of the bank, Il Sole 24 Ore said.

(*) UNICREDIT

U.S. fund Blackstone is among investors interested in real estate assets put on the market by the bank, MF said. The aim is to sell assets worth 1 billion euros.

CREDITO VALTELLINESE

DBRS raised its long term rating on the Italian bank by one notch to BB(high) from BB, with a stable trend.

SAFILO

The eyewear maker CFO confirmed targets to 2020, adding he expected a “good step ahead” in profitability this year.

EQUITA

The Italian broker posted a 11 million euro net profit last year, in line with 2017. The company proposed a 0.22 euro per share dividend based on 2018 results.

(*) SALINI, ASTALDI

A month after the presentation of Astaldi’s bailout offer, the three-way negotiation table between builder Salini Impregilo, state lender CDP and creditor banks is still open, with meetings taking place to find a solution that is currently still missing some key pieces, Il Sole 24 Ore said.

PRADA

Releases FY results, followed by conference call (1330 GMT).

(*) CERVED

Private equity fund Pai and Blackstone are looking at the dossier, Il Sole 24 Ore said, but the problem remains the company’s share price, which remains elevated after Advent withdrew its offer.

SOCIETA EDITRICE IL FATTO QUOTIDIANO

Debuts on AIM segment; listing ceremony with Chairwoman and CEO Cinzia Moneteverdi (0730 GMT).

ENI

Board meeting on FY results (preliminary results on Feb. 14, press release on March 15).

UNIPOL GROUP

Board meeting on FY results.

UNIPOLSAI

Board meeting on FY results.

I GRANDI VIAGGI

Board meeting on Q1 results.

Board meeting on FY results: AEROPORTO DI BOLOGNA, AQUAFIL, ARNOLDO MONDADORI EDITORE followed by presentation (1500 GMT), AUTOGRILL (revenues on Feb. 7), AVIO, BRUNELLO CUCINELLI (preliminary results on Jan. 7) followed by conference call (1700 GMT), CREDITO EMILIANO (published onFeb. 7), DE’ LONGHI (preliminary results on Jan. 15) followed by conference call, DIASORIN followed by conference call, EL.EN. , EMAK (preliminary results on Jan. 31), EXPRIVIA, FIRST CAPITAL, FOPE, FULLSIX, GEFRAN (0900 GMT, preliminary results on Feb. 14), GRUPPO MUTUIONLINE, LA DORIA , LANDI RENZO, MAIRE TECNIMONT, OPENJOBMETIS, PIOVAN, RAI WAY followed by conference call, REPLY, TAMBURI INVESTMENT PARTNERS, TOSCANA AEROPORTI, VEI 1.

Conference calls on FY results: AUTOGRILL, ISAGRO (0930 GMT).

DIARY

Deputy Prime Minister and Interior Minister Matteo Salvini holds news conference at Chamber of Deputies (0930 GMT).

Rome, Foreign Affairs Minister Enzo Moavero Milansi speaks before Chamber of Deputies Foreign Affairs Committee on Brexit (1200 GMT).

Milan, DBRS and Banco BPM unit Banca Akros holds conference on “Italian Mid-Sized Corporates: the Market Evolution of Rated Bonds” (0815 GMT).

Milan, Banca Profilo presents CER report on banks “Banking Package: New Challenge for Italian Banks” with Chairman Giorgio Di Giorgio (1630 GMT).

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:............................... (Reporting By Viviana Venturi)

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