March 22, 2019 / 5:02 AM / 4 months ago

Italy - Factors to watch on March 22

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

Rome, Chinese President Xi Jinping meets Italian President Sergio Mattarella (1015 GMT); Senate Speaker Maria Elisabetta Alberti Casellati (1530 GMT); Chamber of Deputies Speaker Roberto Fico (1610 GMT).

DEBT

Treasury announces sale of 6-month BOT bills, with relative amounts to be auctioned on March 27.

ENEL

Europe’s biggest utility pledged to grow its green energy and grids business in Italy and the Americas on Thursday as it reported a rise in profits and dividends and stuck to its targets for 2019.

(*) UNICREDIT

Credit Suisse initiated coverage of the bank with a ‘neutral’ rating and a target price of 13.30 euros.

INTESA SANPAOLO

Italian investment vehicle Camfin said on Thursday it had signed a term sheet with Intesa Sanpaolo for the entry of Italy’s biggest retail bank into its capital. (*) Italy’s biggest bank is in talks to acquire Italian health insurer Rbm Assicurazione Salute, Il Sole 24 Ore and MF said, adding the deal could be worth up to 300 million euros. (*) Credit Suisse started coverage of the Italian bank with an ‘underperform’ rating and a target price of 1.80 euros

EXOR (*) The Agnelli family’s holding company acquired stakes in Sibanye-Lonmin, the world’s second largest operator of platinum, palladium and gold mines, and in at least five other mining companies in South Africa and Canada as part of its diversification drive, Il Sole 24 Ore said, adding Chairman John Elkann would explain the move in a soon-to-be published letter to shareholders. Exor held a stake of around 8 percent in Sibanye Gold as of Feb. 26, according to a regulatory filing.

(*) BANCA CARIGE

Two consortiums led by BlackRock and Varde Partners, respectively, are ready to bid for the troubled bank, according to MF. The two contenders plan to present their binding offers by April 5, MF added. Apollo Global Management, which was previously seen as part of the race, is no longer a contender, the paper said. According to the financial daily, a planned capital increase to boost the bank’s resources could top 700 million euros, versus a previous estimate of 630 million euros.

(*) TELECOM ITALIA

The phone group’s top two shareholders, French media group Vivendi and activist fund Elliott, are said to be working on a compromise regarding the board set up that would see both investors with seven representatives each, MF said. The choice of the 15th board director, also the chairman, could fall on a person that has the tacit approval of the company’s third biggest shareholder, state lender CDP, the paper added.

(*) PRYSMIAN

Credit Suisse cut its target price on the stock to 20 euros from 21 euros.

(*) DIASORIN

Berenberg raised its target price on the stock to 100 euros from 96 euros.

(*) SAIPEM

HSBC cut its rating on the stock to ‘hold’ from ‘buy’ and raised its target price to 5 euros from 4.5 euros.

M&A, ALITALIA

Junior industry minister Michele Geraci said on Thursday a Chinese airline could be involved in the rescue of the ailing Italian carrier.

GRUPPO CERAMICHE RICCHETTI

Ordinary and extraordinary shareholder’s meeting (1300 GMT) and board meeting on FY results.

Board meetings on FY results: BANCA POPOLARE SONDRIO (published on Feb. 11), BRIOSCHI SVILUPPO IMMOBILIARE , EEMS, INIZIATIVE BRESCIANE, LU-VE , MASI AGRICOLA, NOTORIOUS PICTURES , NOVA RE, PININFARINA, SIT, SMRE, WM CAPITAL.

DIARY

Cernobbio, 20th forum organised by trade association Confcommercio and The European House Ambrosetti on “Market Players and Scenarios for the 2000s” starts (1000 GMT); ends on March 23. Expected attendees include trade union CISL Secretary General Anna Maria Furlan, ECB official Massimo Rostagno.

Potenza, Deputy Prime Minister and Interior Minister Matteo Salvini visits the city.

Rome, “Italy-China Business Forum on Third-Party Market Cooperation” (0845 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:...............................

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