March 26, 2019 / 5:02 AM / 2 months ago

Italy - Factors to watch on March 26

MILAN, March 26 (Reuters) - The following factors could affect Italian markets on Tuesday.

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 will renew for up to 36 months a state guarantee scheme to help banks shed bad loans, tightening rules to increase protection for some investors, the text of a law decree published in the Official Gazette late on Monday and coming into force on Tuesday showed. The decree also confirmed the extension of the government’s special powers on strategic interests to 5G technologies.

DEBT

Italy last week sold a four-year bond denominated in yen for an equivalent of $227 million via a private placement, in its first transaction in a foreign currency since 2010, a Treasury official said on Monday.

Treasury sells 1.5-2.0 billion euros CTZ bonds due Nov. 27, 2020 and 0.5-1.0 billion euros BTPei bonds due May 15, 2028. Subscriptions close at 1000 GMT.

It said on Monday it would offer up to 7.5 billion euros ($8.5 billion) over three bonds at an auction on March 28, including a new five-year nominal BTP bond.

Rome will offer a new BTP maturing on July 1, 2024, a new BTP maturing on July 15, 2026 and a new CTZ bond expiring on June 29, 2021 in the second quarter of this year, the treasury said on Monday.

BANKS

A two-year extension of a public guarantee scheme on bad loan securitisations is positive for Italian lenders despite stricter conditions, Moody’s said on Monday.

(*) TELECOM ITALIA

The company called for an extraordinary board meeting on Thursday to examine issues relating to the March 29 shareholder meeting, Corriere della Sera said. Top shareholder Vivendi asked Italian market watchdog once again to investigate governance issues at the Italian phone group, according to the paper.

(*) CNH INDUSTRIAL

The trucks and tractor maker said late on Monday it had settled its offering of 600 million euro notes due March 25, 2027.

(*) ANIMA HOLDING

The asset manager is still interested in discussing a tie-up with rival Arca, CEO Marco Carreri told Il Sole 24 Ore in an interview.

(*) INTESA SANPAOLO

Italy’s biggest retail bank has started exclusive talks that will last till the end of June with Prelios, a unit of U.S. fund Davidson Kempner, to sell a portfolio of unlikely-to-pay loans worth around 10 billion euros, Il Messagero said.

(*) ASTALDI, SALINI IMPREGILo

Troubled construction group Astaldi will ask the court to postpone the deadline to reach an accord with its creditors, one of the conditions of Salini Impregilo’s rescue plan, according to Il Sole 24 Ore.

(*) BANCA IFIS

The Bank of Italy in February launched an ordinary audit on the lender, according to MF.

BANCA CARIGE

U.S. funds Varde Partners and BlackRock plan to submit rival bids for troubled Italian lender by mid-April, three sources close to the matter said on Monday.

IPO NEXI

Credit rating agency Moody’s said on Monday it placed payment firm’s ratings under review for upgrade.

Fitch said on Monday it placed Nexi’s rating on “watch positive”.

(*) The company’s board is expected to meet on Tuesday to decide on the IPO price range, according to Il Sole 24 ore. It is likely that the listing will take place by mid-April, the paper said.

D’AMICO

The shipping company announced the sale and lease back of one of its MR vessels, generating net cash of $9.6 million.

MOLMED

News conference to present FY results and development prospects (1030 GMT).

Board meetings on FY results: CAIRO COMMUNICATION, ESPRINET, EXPERT SYSTEM, GEL, GO INTERNET, H-FARM, NEODECORTECH, SABAF, SCM-SOLUTIONS CAPITAL MANAGEMENT SIM.

DIARY

Rome, Foreign Affairs Minister Enzo Moavero Milanesi speaks before Senate foreign Affairs Committee on outcomes of 21st and 22nd March European Council meeting (1900 GMT).

Rome, conference on “Which Ideas for the New Europe? Recipes Compared” with ruling League party’s economic spokesman Claudio Borghi, Deputy Economy Minister Laura Castelli (1300 GMT).

Rome, report presentation on “Welfare Index PMI” with Assicurazioni Generali Italian unit CEO Marco Sesana, ministro per i Relations with Parliament Minister Riccardo Fraccaro, welfare institute INPS President Pasquale Tridico.

Milan, report presentation on “Welfare for People” with UBI Banca Management Board Chiarwoman Letizia Moratti, Vincenzo Boccia, trade union CISL Secretary General Annamaria Furlan (0930 GMT).

Milan, “Accenture Banking Conference” with Illimity Bank CEO Corrado Passera, Banco BPM co-director General Salvatore Poloni (1230 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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