March 26, 2018 / 4:00 AM / 7 months ago

Italy - Factors to watch on March 26

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 .

ECONOMY

ISTAT releases February non-EU foreign trade data (0800 GMT).

Assogestioni expected to release February fund flows data.

AIFI-Italian Institutional investors in risk capital association holds annual conference to present Italian market annual results of private equity, venture capital and private debt with President Innocenzo Cipolletta, AIPB-private banking association President Fabio Innocenzi, Intesa Sanpaolo Chairman Gian Maria Gros-Pietro; followed by round-table discussion with Nexi CEO Paolo Bertoluzzo, Poste Italiane CEO Matteo Del Fante, Avio CEO Giulio Ranzo, Bank of Italy Director General Salvatore Rossi in Milan (0830 GMT).

DEBT

Treasury sells CTZ and BTPei bonds. Subscriptions close at 0900 GMT.

The Treasury said on Friday it would offer up to 7.5 billion euros ($9.27 billion) of three different bonds at an auction on March 28.

TELECOM ITALIA

Statutory auditors and independent directors at Telecom Italia are mulling a complaint to market watchdog Consob over Vivendi’s move to trigger the resignations of eight directors, Il Corriere della Sera and Il Giornale reported on Saturday.

If the regulator rules that Vivendi is controlling the majority of Telecom Italia’s board, the French group could be forced to launch a tender offer on the company, Il Giornale and Il Messaggero said.

Elliott is considering filing a complaint with the government or Consob against Vivendi’s move, Corriere and Il Messaggero said on Saturday.

There is a chance that Telecom Italia’s statutory auditors ask shareholders to vote to appoint the six new directors proposed by Elliott at a meeting scheduled for April 24, preventing the renewal of the whole board, Il Sole 24 Ore reported on Saturday.

A stop by the antitrust watchdog to a recent increase in telecom bills could have a 70 million euro negative impact on the group’s core profit, Il Messaggero said citing analysts.

ITALIAN BANKS

The stock of net soured loans at Italian banks fell to around 140 billion euros at the end of last year from a peak of 200 billion euros in 2015, Bank of Italy Head of banking oversight Carmelo Barbagallo said at a business conference on Saturday. Barbagallo urged lenders to shed soured loans to take advantage of the current favourable economic phase and also said they needed to invest in technology to remain competitive. Profitability of the Italian banking system has improved in 2017 but is still lower than the average in Europe, he said.

POP SONDRIO, UBI, MONTE PASCHI

The regional lender could attract the interest of Banco BPM , Il Messaggero said on Sunday, adding also Creval , Cariparma, UBI Banca and BPER could be interested.

UBI Banca denied a report published in Il Messaggero saying its CEO had discussed a potential tie-up with Monte dei Paschi at a recent meeting of the lender’s supervisory board.

(*) BANCO BPM

Italy’s third-biggest lender could consider paying a dividend next year once it posts an expected rise in 2018 profits, Chief Executive Giuseppe Castagna told La Repubblica’s Affari e Finanza insert on Monday.

(*) POP SONDRIO

The regional lender proposed a capital increase of 40 million euros for the possible acquisition of Cassa di Risparmio di Cento.

ATLANTIA

Italian infrastructure group Atlantia said on Friday it had decided to exercise an option to buy all or part of the shares in Spanish telecoms masts group Cellnex owned by Abertis for between 21.20-21.50 euros per share.

INTESA SANPAOLO

The bank is in talks with various parties interested in buying part of its non-performing loans portfolio, chief executive Carlo Messina said on Friday.

Messina also said he saw opportunities from Brexit for the bank to grow in the private banking and asset management sectors.

FIAT CHRYSLER

The carmaker named Antonio Filosa chief operating officer of its Latin America region, while Stefan Ketter will return to Europe and continue serving on group executive council as chief manufacturing officer.

Fiat Chrysler could shift 1 billion euros of the group’s debt to car parts unit Magneti Marelli when it will be spun off, Il Sole 24 Ore reported on Sunday.

Car registrations for the Alfa Romeo brand will be around 140,000 and 150,000 this year, Il Giornale reported on Sunday.

(*) FERRARI

Ferrari driver Sebastian Vettel won Formula One’s season-opening Australian Grand Prix on Sunday.

SAIPEM

Former Poste Italiane CEO Francesco Caio could become Saipem’s chairman, several newspaper reported on Saturday.

GENERALI

Italian entrepreneur Francesco Gaetano Caltagirone has raised its stake in the insurer to 3.76 percent, a filing showed on Friday.

(*) AMPLIFON

The maker of hearing devices expects EBITDA margin to reach 18.5 percent at the end of the new 2018-2020 business plan presente on Monday.

MONCLER

The fashion group aims at keeping stable its current EBITDA margin but acknowledges that the so-called “Genius” project could have a temporary negative impact of few percentage points on the margin, Il Sole 24 Ore reported on Sunday.

AZIMUT HOLDING

The asset manager will look for acquisitions on foreign markets, its CEO Sergio Albarelli told Il Sole 24 Ore on Saturday, adding the group aims to get a licence to operate with retail clients in China.

CREDITO VALTELLINESE

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

Fitch upgraded Creval to ‘BB-‘, outlook ‘positive’.

TREVI FINANZIARIA

QuattroR and Bain Capital Credit have presented two competing offers to shore up the indebted group, Il Messaggero said on Saturday.

PIAGGIO

Moody’s changed Piaggio’s rating outlook to ‘positive’, while ‘B1’ ratings were affirmed.

IGD SIIQ

Italy’s IGD Siiq aims to increase its dividends again this year after already raising by 11 percent what it paid to shareholders over last year’s results, the real estate group’s chief executive said on Friday.

ALFIO BARDOLLA TRAINING GROUP

Trades ex-dividend of 0.046 euro per share.

AMPLIFON

‘Capital Markets Day’ (0900 GMT).

INDUSTRIA E INNOVAZIONE

Ordinary shareholders’ meeting (0930 GMT).

LEONE FILM GROUP

Extraordinary shareholders’ meeting (1500 GMT).

UNIEURO

Board meeting on preliminary FY results (revenues).

CAIRO COMMUNICATION

Board meeting on FY results.

CALEIDO GROUP

Board meeting on FY results.

EEMS

Board meeting on FY results.

ELETTRA INVESTIMENTI

Board meeting on FY results.

ENERTRONICA

Board meeting on FY results.

EXOR

Board meeting on FY results.

H-FARM

Board meeting on FY results.

INIZIATIVE BRESCIANE

Board meeting on FY results.

ITWAY

Board meeting on FY results.

LEONE FILM GROUP

Board meeting on FY results (preliminary FY results on Jan. 31).

LU-VE

Board meeting on FY results (Q4 sales revenue on Feb. 8).

M&C

Board meeting on FY results.

MONDO TV

Board meeting on FY results (preliminary FY results on March 1).

SABAF

Board meeting on FY results.

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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