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Italy - Factors to watch on March 15
March 15, 2017 / 5:01 AM / 9 months ago

Italy - Factors to watch on March 15

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

Italian and Swiss tax authorities have signed an accord to improve the exchange of information to fight tax evasion, the Italian economy ministry said on Tuesday.

ISTAT releases January retail sales data (0900 GMT) and February final CPI and HICP data (1000 GMT).

Bank of Italy releases January data on public finances, state borrowing and debt.

Economy Minister Pier Carlo Padoan attends tax police 2016 annual report and 2017 planning presentation in Rome (0900 GMT).

COMPANIES

TOD‘S

The Italian luxury group said on Tuesday its results would improve this year despite posting a 10.7 percent fall in 2016 full-year core profits due to falling sales in leather goods and accessories.

The group’s CFO said he was confident the group will reach analysts’ consensus forecast for 2017.

SALAVATORE FERRAGAMO

The luxury group posted on Tuesday rising net profits in 2016 thanks to a new national tax break regime but core profits and margins in the same period were flat.

The group’s said like-for-like sales in 2016 fell 4.4 percent.

CEO Eraldo Poletto said the group saw “low single digit positive” growth in like-for-like sales in first months of the year.

(*) BANCA MONTE DEI PASCHI DI SIENA

The amount the Italian government is expected to have to provide to rescue the lender may be reduced to between 5 and 6 billion euros, down from an initial estimate of 6.6 billion euros, Corriere della Sera said. The paper adds that Brussels had asked for additional 5,000 job cuts.

(*) BANCA CARIGE

The bank announced to unions additional 230 job cuts on top of the ones already included in its 2016-2020 business plan, Il Sole 24 Ore said.

MEDIASET

Group presents “Radiomediaset” in Milan with Radiomediaset CEO Paolo Salvaderi, Mediaset CFO Marco Giordani and Mediaset Deputy Chairman and CEO Pier Silvio Berlusconi (1030 GMT).

ENI

‘Investor Day’ (1000 GMT).

Libya’s Wafa filed, oeprated by Mellitah Oil and Gas, a joint venture with Italy’s ENI, was shut on Tuesday by militant groups who blocked a pipeline linking it to the Mellitah export terminal in western Libya, according to three Libyan oil sources and a trading source.

LEONARDO

Board meeting on FY results and news conference to present results and 2017-2021 industrial plan (1400 GMT).

ASSICURAZIONI GENERALI

Board meeting on FY results (press release on March 16).

TERNA

Board meeting on FY results, followed by conference call.

POSTE ITALIANE

Board meeting on FY results, followed by conference call.

SAFILO GROUP

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

SALINI IMPREGILO

Board meeting on FY results (preliminary results on Feb. 23).

TERNIENERGIA

Board meeting on FY results.

(*) BANCA POPOLARE DI VICENZA

The shareholder take-up of a settlement offer presented by the bank to remove the risk of lawsuits was at above 60 percent, Il Sole 24 Ore said, citing the lender’s deputy director general Gabriele Piccini.

ALITALIA

Alitalia Chairman Luca di Montezemolo is ready to leave his position at the loss-making airline after the board approves a new industrial plan, a source close to the situation said on Tuesday. (*) IPO, VALENTINO, FURLA

Fashion groups Valentino and Furla may consider a stock market listing towards the end of this year or early 2018, Il Sole 24 Ore said in an unsourced report.

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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