March 5, 2018 / 5:01 AM / 8 months ago

Italy - Factors to watch on March 5

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 faces a prolonged period of political instability after voters delivered a hung parliament in Sunday’s election, spurning traditional parties and flocking to anti-establishment and far-right groups in record numbers.

With half the ballot counted, it looked almost certain that none of Italy’s three main factions would be able to rule alone and there was little prospect of a return to mainstream government, giving the European Union a new headache to handle.

UniCredit holds conference call on “Italian elections: outcome and market implications” in Milan (0900 GMT).

ECONOMY

Markit releases February service Pmi data (0845 GMT).

TELECOM ITALIA, RAIWAY

Telecom Italia said on Saturday the transfer of its majority stake in broadcasting unit Persidera to a trust did not affect its control over the sale of the stake.

Infrastructure fund F2i and towers company Raiway will not extend their offer for Telecom Italia’s (TIM) broadcasting unit Persidera after it expires on Friday, three sources close to the matter said.

The Telecom Italia board will meet on Monday to discuss the Persidera situation, Il Sole 24 Ore said on Saturday. Il Messaggero on Sunday said Monday’s board meeting had been called for a preliminary discussion over the business plan update and 2017 earnings to be approved on Tuesday. Spinning off the fixed-line network into a separate company will require 12-18 months, the paper said, adding directors representing funds association Assogestioni had concerns about some of plan’s measures.

EU countries and lawmakers have struck a deal to free up radio frequencies for next-generation 5G services that will be valid for 20 years, as the bloc tries to catch up with the United States and China in rolling out internet-connected products.

The monitoring committee working with the government on the issue of fining Telecom Italia in regard to its use of golden powers has involved the antitrust, Il Sole 24 Ore said on Saturday. The timeframe for a decision on the amount of the fine has extended to end-March, it said.

(*) MONCLER

Asked whether the fashion group was for sale, Chief Executive and Chairman Remo Ruffini told La Stampa there have been offers “but at a moment when the company is doing very well and given I’m not that old, I want to keep managing it”.

(*) SAIPEM

Board meeting on FY results (press release on March 6).

Within three weeks the company will publish pro-forma 2016 P&L and balance sheet to take into account comments by the market regulator Consob, it said on Monday.

(*) M&A

State-backed power engineering firm Ansaldo Energia is readying a joint-venture with Russia’s Gazprom to make it easier to work in Iran, L’Economia/Corriere della Sera said on Monday citing sources.

BANKS, UBI BANCA

The first signs of a new wave of mergers in the sector could emerge already in the first half of the year, consultancy Bain’s Luca Penna told Sunday’s Il Sole 24 Ore. (*) Former Monte dei Paschi CEO Fabrizio Viola is working with Barclays and UBI Banca to create a special purpose acquisition company (Spac) to invest in the banking sector, Affari&Finanza/La Repubblica reported on Monday.

(*) SARAS

After Chairman Gian Marco Moratti passed away, the group may consider the possibility to sell the company if no member of the family takes the helm, Affari&Finanza/la Repubblica said on Monday.

ENI

A trial in Italy of Royal Dutch Shell and Eni executives over alleged corruption in Nigeria, which had been due to start on March 5, will be transferred to another court in Milan, delaying the proceedings, legal sources said.

CREDITO EMILIANO

The lender said on Friday its CET1 ratio was rising to 13.69 percent from 13.32 percent after the European Central Bank approved its move to not discounting Credemvita stake when calculating capital.

CREVAL

Some 15 international funds are interested in building stakes in Italy’s 10th-largest lender through its capital increase, including Blackstone, Fidelity and Wellington, Il Sole 24 Ore said on Saturday.

BANCA CARIGE

A board meeting on March 6 is expected to discuss 5.4 percent shareholder Raffaele Mincione’s request to be assigned a board seat, Corriere della Sera reported on Sunday citing Il Secolo XIX. Market regulator Consob is monitoring the issue, the paper said.

PRELIOS

Investment vehicle Lavaredo said on Friday it would re-open its takeover offer on real estate group Prelios between March 12-16.

INWIT

The group said on Friday Q4 ‍revenue was up 11.9 pct to 94.8 million euros.

FULLSIX

BluGroup, controlling shareholder in Fullsix, will swap its 45.31 percent stake in the group with a shareholding in start-up company Myav, which will be listed on the AIM segment of the Milan bourse within 18-24 months from now, Fullsix said.

RENO DE MEDICI

The company targets a double-digit EBITDA margin up from 8.05 percent last year, Il Sole 24 Ore reported on Sunday.

CAD IT

Board meeting on preliminary FY results.

I GRANDI VIAGGI

Trades ex-dividend of 0.02 euro per share.

PRISMI

Starts capital increase, ends on March 22.

BREMBO

Board meeting on FY results (0830 GMT).

GEDI GRUPPO EDITORIALE

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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