May 14, 2018 / 4:04 AM / 5 months ago

Italy - Factors to watch on May 14

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’s anti-establishment 5-Star Movement and the far-right League remain locked in talks to forge a common policy programme and said they would not be able to present it to the head of state on Sunday as planned.

An Italian tribunal has lifted a ban on veteran centre-right leader Silvio Berlusconi from holding public office, meaning he could run to be prime minister in the next national election.

ECONOMY

OECD releases March composite leading indicator (1000 GMT).

The Italian coalition taking shape 10 weeks after March’s inconclusive election has made economic promises that seem incompatible with Europe’s fiscal rules and will be hard, if not impossible, to keep.

DEBT

Treasury starts offer of new 8-year ‘BTP Italia’ bond reserved to small investors, ends on May 16 subject to early closure.

COMPANIES (*) SALINI IMPREGILO

The group is looking for more acquisitions in the United States, L’Economia/Il Corriere della Sera said on Monday.

(*) SARAS

The refinery business will remain the core activity for the group but Saras is also looking at expanding into renewable energy sector, Chairman Massimo Moratti told L’Economia/Il Corriere della Sera on Monday.

(*) INTESA SANPAOLO

The private banking division of the bank plans to expand in Uruguay, Argentina and Bahrein, the chief executive of Fideuram Intesa Sanpaolo Private Banking Paolo Molesini told Affari&Finanza/La Repubblica on Monday.

POPOLARE SONDRIO, CREVAL

These Italian companies and banks could be targeted by activists funds according to Affari&Finanza/La Repubblica.

(*) OVS

Swiss employees of OVS, which took over Swiss clothing chain Charles Voegele, told The SonntagsZeitung daily that the company had failed to pay them on time and was reducing the workforce.

(*) FILA

The acquisition of Pacon will generate cost synergies for 5-7 million euros a year, Fila’s CEO Pacon told Affari&Finanza/La Repubblica on Monday, adding he will take part in the upcoming cash call to keep his stake in the group unchanged.

BANCO BPM, CARIGE

Banco BPM could consider a merger with a domestic rival as soon as the second half of 2019, its Chief Executive Giuseppe Castagna told La Stampa on Saturday. Castagna added Genoa-based lender Carige was not a potential partner for Banco BPM because Carige aimed at sealing a tie-up in the short term.

BANCA MONTE DEI PASCHI DI SIENA, OTHER BANKS

A return to profit for troubled Italian bank Monte dei Paschi di Siena added impetus to signs of a tentative recovery among the country’s battered lenders on Friday.

By the end of next year Italy’s Treasury, Monte dei Paschi’s top investor, will have to prepare a plan to cut its stake in the bank to zero by 2021, Il Sole 24 Ore said on Sunday.

MEDIASET

Italy’s Antitrust will likely decide whether to open an in-depth investigation on Mediase-Sky Italia cooperation in the coming days, Il Corriere della Sera reported on Sunday.

ASTALDI

Japan’s IHI will likely take part in a upcoming plan to boost Astaldi’s capital by 300 million euros, Il Sole 24 Ore reported on Sunday, adding an Astaldi’s board meeting is expected to give its green light to the capital plan on Tuesday or Wednesday.

BREMBO

The company hopes to close a deal with Italian tax authorities to cut its tax rate, under the so-called Patent box scheme, in the first half of next year, Il Sole 24 Ore reported on Sunday.

FIAT CHRYSLER

Chief Executive Sergio Marchionne said on Friday proposed changes to automotive rules by the U.S. government may prompt the Italian-American automaker to shift exports of the company’s Mexican-made vehicles.

LUXOTTICA

The company said it had signed an agreement to bring out the Sunglass Hut retail concept in approximately 160 Bass Pro shops and Cabela stores across the United States.

TELECOM ITALIA, VIVENDI

French media group Vivendi has notified Italian market regulator Consob that it does not control Telecom Italia (TIM) after it lost the majority of the phone group’s board seats following a May 4 shareholder vote, a source close to the matter said on Friday.

The source added that Vivendi may also notify the EU antitrust authorities that it no longer controlled the majority of TIM’s board. Vivendi last year pledged to sell TIM’s 70 percent stake in broadcasting unit Persidera to win antitrust approval for its own plan to gain de facto control of the Italian phone group.

Billionaire Vincent Bollore has raised his stake in Vivendi to more than 24 percent, strengthening his influence over the French media giant, according to regulatory filings.

SS LAZIO, JUVENTUS

Lazio missed a chance to clinch the fourth and final Italian place in next season’s Champions League group stage when they were held to a 2-2 draw at relegation-threatened Crotone on Sunday.

Juventus won the Serie A title for the seventh season in a row when they drew 0-0 away to AS Roma on Sunday.

FINCANTIERI

At the end of May or, at the latest, in June, the Australian government is expected to announce the winner of a contract to fit nine war ships with long-range ­anti-missile defence systems, Il Sole 24 Ore reported on Saturday. BAE Systems , Navantia and Fincantieri are all competing for the A$35 billion contract. (*) Australian Titomic Ltd said on Monday it had entered MoU with Fincantieri Australia.

ICCREA BANCA

The cooperative bank group plans to sell bad loans with a gross value of 1 billion euro by June, it said on Friday, adding it would ask permission to use a state guarantee scheme for the transaction. The sale is part of a broaden plan that foresees the disposal of up to 7.3 billion euros of bad loans by 2021.

CARIGE

The lender plans to issue three bonds by the end of the year to raise up to 1.3 billion euros, the CFO told analysts at a post-result conference call on Friday.

ALITALIA

The carrier posted a 6 percent rise year-on-year in sales in the first quarter, when it booked an operating loss of 167 million euros, Il Corriere reported on Saturday.

BANCA POPOLARE DI SONDRIO

The company said its first-quarter net profit rose to 42.8 million euros from 29.5 million a year ago.

BANCA INTERMOBILIARE

The company said its first-quarter net loss widened to 6.4 million euros from a loss of 2 million euros a year ago.

CARRARO

Annual general meeting (0900 GMT).

FINTEL ENERGIA GROUP

Board meeting on FY results.

PININFARINA

Annual and extraordinary shareholders’ meetings (0930 GMT) and board meeting on Q1 results.

AIR ITALY

Officially presents first Boeing B737 Max with Chairman Francesco Violante, Qatar Airways Group CEO Akbar Al Baker (0900 GMT).

SOMEC

Debuts on AIM segment.

Board meetings on Q1 results: ACQUAFIL, AEROPORTO DI BOLOGNA, ANIMA HOLDING, ASCOPIAVE , BANCA FINNAT, B&C SPEAKERS (0900 GMT), BIALETTI INDUSTRIE, BIESSE, CAD IT , CALEFFI (revenues), CEMBRE, CONAFI PRESTITO, ENAV, ENERVIT, ERG , ESPRINET, EUKEDOS, EUROTECH , FULLSIX, GABETTI PROPERTY SOLUTIONS , GEFRAN (0800 GMT), GIGLIO GROUP, GIMA TT, IRCE (1200 GMT), LANDI RENZO , MARR followed by conference call, MONDO TV , PIRELLI, POLIGRAFICI PRINTING, RATTI, ROSETTI MARINO, SARAS followed by conference call (1330 GMT), SERVIZI ITALIA , TAMBURI INVESTMENT PARTNERS, TERNIENERGIA , YOOX NET-A-PORTER, ZUCCHI GROUP.

Trade ex-dividend: AVIO of 0.38 euro per share; BANCA FINNAT of 0,03 euro per share; BANCO DI SARDEGNA of 0.15 euro per saving share, of 0.30 euro per preferred share, of 0.04 euro per ordinary share; CAIRO COMMUNICATION of 0.10 euro per share; COVER 50 of 0.50 euro per share; CREDITO EMILIANO of 0.20 euro per share; ESPRINET of 0.135 euro per ordinary share; FALCK RENEWABLES of 0.053 euro per share; FINLOGIC of 0.1481 euro per ordinary share; LUCISANO MEDIA GROUP of 0.05 euro per share; RENO DE MEDICI of 0.0031 euro per ordinary share and of 0.0245 euro per saving share as preferred dividend; ROSETTI MARINO of 0.50 euro per share; ZIGNAGO VETRO of 0.32 euro per ordinary share.

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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