March 27, 2019 / 5:03 AM / 2 months ago

Italy - Factors to watch on March 27

MILAN, March 27 (Reuters) - The following factors could affect Italian markets on Wednesday.

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

Italy’s government is set to revise its 2019 GDP growth estimate down to 0.1 percent, well below the 1 percent target included in its budget law, Il Sole 24 Ore reported.

As a result, Italy’s 2019 deficit is set be revised to 2.4 percent of GDP, overshooting a 2 percent target agreed with the European Commission in December. A planned growth-boosting package may lift the 2019 GDP to 0.2 percent and marginally improve the deficit to 2.3 percent of GDP, the newspaper added.

ISTAT releases March consumer and business confidence data (0900 GMT) and February non-EU foreign trade data (1000 GMT).

DEBT

Treasury sells 6.0 billion euros new 6-month BOT bills. Subscriptions close at 1000 GMT.

FIAT CHRYSLER

France’s Renault SA plans to restart merger talks with Japan’s Nissan Motor within 12 months, after which it will set sight on a bid to buy Fiat Chrysler Automobiles , the Financial Times reported on Wednesday.

TELECOM ITALIA

A board meeting originally called on Thursday to examine investor Vivendi’s complaints over governance issues has been put back to a date after the shareholder meeting on Friday, a source close to the matter said on Tuesday. The source said the decision had been taken by chairman Fulvio Conti to calm nerves ahead of the Friday meeting.

UNICREDIT

The bank has launched the sale of three portfolios of non-performing loans with a book value of 2.4 billion euros, MF daily reported.

(*) Abu Dhabi’s state fund Mubadala, which owns 5 percent of UniCredit through its Aabar vehicle, has sounded out the Italian bank over the sale of Swiss private bank Falcon, Il Sole 24 Ore reported. UniCredit declined to comment, the paper added.

Giovanni Ronca, co-head of UniCredit’s operations in Italy, is expected to resign in the coming weeks an will likely be replaced by the other co-head Andrea Casini, according to a source. Remo Taricani, head of sales and marketing, will become co-head of Italian operations with a focus on retail activities, the source said.

BANCA CARIGE

The troubled Italian lender said it had closed the sale of its consumer credit unit to Chenavari for 69.3 million euros.

ERG

The Italian renewable energy company said it would issue one or more non-convertible bonds eligible as “green bonds” for up to 500 million euros.

Annual general meetings: GRUPPO GREEN POWER (1130 GMT), INWIT (1400 GMT).

Board meetings on FY results: HERA, ACOTEL , ASTM, CLABO, EXOR, DIGITAL360, DIGITOUCH followed by conference call (1500 GMT), KOLINPHARMA, RENERGETICA, SIAS-SOCIETA INIZIATIVE AUTOSTRADALI SERVIZI, SOSTRAVEL.COM, TECHNOGYM, TELESIA.

DIARY

Rome, Prime Minister Giuseppe Conte attends annual report presentation on rights of prisoners or people deprived of personal liberty (0730 GMT).

Rome, Foreign Affairs Minister Enzo Moavero Milanesi attends seminar on Italian economy and the geo-economic scenarios (0900 GMT).

Rome, annual conference by Maeci and Bank of Italy with Foreign Affairs Minister Enzo Moavero Milanesi, Bank of Italy Governor Ignazio Visco (0830 GMT).

Milan, round-table discussion on “Platform Banks and Services. New Rules for New Operational Models?” with Bank of Italy official Carmelo Barbagallo (1500 GMT).

Rome, Alitalia special commissioners Daniele Discepolo, Enrico Laghi, Stefano Paleari speak before Chamber of Deputies Transport and Industry committees on economic and financial situation and prospects (1315 GMT).

Rome, Insurance Brokers Italian Association-AIBA holds annual conference on insurance market with President Luca Franzi De Luca, insurance sector watchdog IVASS Secretary General Stefano De Polis, insurers’ association ANIA President and Poste Italiane Chairwoman Maria Bianca Farina (0900 GMT).

Ravenna, Offshore Mediterranean annual conference on “Expanding Mediterranean Energy Sector: Fuelling, Regional growth” starts (0900 GMT), ends on March 29. Expected attendees include Cabinet Undersecretary Giancarlo Giorgetti, Edison CEO Marc Benayoun, Saipem CEO Stefano Cao.

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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