March 25, 2019 / 5:00 AM / 2 months ago

Italy - Factors to watch on March 25

MILANO, March 25 (Reuters) - The following factors could affect Italian markets on Monday.

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 endorsed China’s ambitious “Belt and Road” infrastructure plan on Saturday, becoming the first major Western power to back the initiative to help revive the struggling Italian economy.

DEBT

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on March 28.

(*) FIAT CHRYSLER AUTOMOBILES

Peugeot of France has been among the potential suitors with whom FCA Chairman John Elkann has discussed a deal recently, but nothing is imminent, the Financial Times quoted several people familiar with the discussions as saying on Sunday. Elkann has also held talks with Korean and Chinese automakers, according to people familiar with those talks.

TELECOM ITALIA

Alessandro Falciai, who has been mentioned in the press as a possible chairman for the phone group, told Corriere della Sera L’Economia in an interview that he was surprised to see his name doing the rounds. Asked whether he could play an arbiter role to resolve the dispute between Vivendi and Elliott, he said: “No, but arbiters do have a role.”

BANCA CARIGE

Asset manager BlackRock and bad loan specialist Varde Partners are interested in Carige and will likely submit offers for the troubled bank, Italian daily La Stampa reported on Saturday, adding the deal could be worth between 700-800 million euros.

However, a precautionary recapitalisation cannot be ruled out completely, the daily added.

La Repubblica Affari e Finanza mentioned Apollo as a possible interested bidder besides Varde and BlackRock. It said the deadline to present expressions of interest was April 20. The sale of bad loans has been postponed until an agreement with a buyer for the bank is found, it added.

INTESA SANPAOLO

Intesa Sanpaolo said on Saturday it had signed a Memorandum of Understanding (MoU) with the Chinese city of Qingdao to develop wealth management services for Chinese clients through a wholly-owned company called Yi Tsai.

FINCANTIERI

Italy’s government has approached the company over the possibility of the state-controlled shipbuilder taking part in the rescue of flagship carrier Alitalia, two sources close to the matter said on Friday.

A luxury cruise ship that had set sail with almost 1,400 passengers and crew aboard arrived at a port in Norway on Sunday after narrowly escaping disaster when its engines failed during a storm. The ship was built by Fincantieri in 2016, according to the company’s website.

ENI

The oil major has signed a MoU with Bank of China to secure a credit line.

SNAM

Italian state lender CDP and Italian gas company Snam have signed a memorandum of understanding with the Chinese Silk Road Fund (SRF) for cooperation on international investments in China and in the countries that have already signed up for the Belt and Road Initiative (BRI). Snam and SRF said they would consider possible cooperation in the natural gas sector — pipelines, storage facilities, LNG infrastructure and biomethane plants.

UNICREDIT

The bank on Sunday confirmed to Italian daily Il Sole 24 Ore its revenue target for 19.8 billion euro in 2019, adding that a recovery in the proceeds coming from trading and higher dividends will help it meet the target.

DANIELI

Italian steel manufacturer Danieli has signed a deal to build part of a steel plant in China that will then be transferred to Azerbaijan.

ACEA

The company confirmed on Saturday that its CEO Stefano Donnarumma had been put under investigation in a case regarding two sponsorship programmes funded by the group. Acea said Donnarumma had nothing to do with the programmes.

ATLANTIA

The infrastructure group said on Friday its top investor’s slate of board candidates included the current CEO as well as the chairman.

Italy’s railway group Ferrovie dello Stato, Atlantia’s airport operator Aeroporti di Roma and the museums of sports car maker Ferrari on Saturday signed a commercial deal with China’s biggest online travel agency Ctrip to develop Chinese tourism in Italy.

SALINI IMPREGILO, ASTALDI

Italian state lender CDP is pushing Salini Impregilo to set up a hub comprising several troubled Italian groups in the construction sector, including ailing Astaldi, Italian daily Il Messaggero reported on Saturday.

The company’s Lane unit has won a $524 milion contract to build the Caloosahatcee West Basin Storage Reservoir in southern Florida, it said on Monday.

CAMPARI

The Garavoglia family, who owns 51 percent of the drinks company, is against selling the company which could probably attract interest from a larger group, CEO Bob Kunze-Concewitz was quoted as saying by the Financial Times on Saturday.

Goldman Sachs upgraded the stock to buy.

SAFILO

The eyeware maker said on Friday it renewed a multi-year licensing agreement with Kate Spade New York until June 30, 2026.

UBI BANCA

The lender said on Friday only one slate of candidates had been put forward for its board, paving the way for the reappointment of current Chairman Letizia Moratti and current CEO Victor Massiah.

BANCA POPOLARE DI SONDRIO

The board proposes a dividend of 0.05 euros per share.

CATTOLICA ASSICURAZIONI

The insurer said on Friday only one slate of candidates had been put forward for its board, paving the way to the reappointment of the current Chairman as well as the CEO.

PININFARINA

The company said on Friday net profit rose to 2.2 million euros in 2018 from 1.3 million euros in 2017.

BB BIOTECH

Trades ex-dividend of 3.05 CHF per share.

PLT ENERGIA

Takeover bid by Baya Srl, Nous Srl and Nexte 1 Srl starts, ends on April 12.

Board meetings on FY results: BEGHELLI, FRENDY ENERGY, IMMSI, PITECO, PORTOBELLO .

DIARY

Milan, BlackRock holds news conference to present “Investor Pulse 2019”.

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

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