May 16, 2018 / 4:00 AM / 6 months ago

Italy - Factors to watch on May 16

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 .

POLITICS

Far-right League leader Matteo Salvini said there were still important policy differences to be hammered out ahead of a meeting with his counterpart from the anti-establishment 5-Star Movement on Tuesday evening.

The parties have been negotiating for six days over a policy agenda for a possible coalition government. Salvini and Di Maio both said if no deal is reached there must be new elections.

The anti-establishment 5-Star Movement and far-right League plan to ask the European Central Bank to forgive 250 billion euros ($296 billion) of Italian debt, according to a draft of a coalition programme the parties are working on. 5-Star and the League said in a statement that the draft, which was dated May 14, was “an old version that has been considerably modified”.

ECONOMY

ISTAT releases March sales and orders data (0800 GMT) and April final CPI and HICP data (0900 GMT).

ISTAT President Giorgio Alleva presents “2018 Annual Report” in Rome, Chamber of Deputies Speaker Roberto Fico attends (0900 GMT).

DEBT

Retail investors requested 1.417 billion euros ($1.7 billion) of a new Italian government bond maturing in May 2026 and tied to domestic inflation, Reuters data showed on Tuesday. Overall sales, so far, have reached 3.723 billion euros.

Offer of the new 8-year ‘BTP Italia’ bond reserved to small investors ends, subject to early closure.

MEDIASET

The private broadcaster said on Tuesday net profits fell 75 percent compared to the previous year.

It said that it expected a rise in EBIT of 10-15 million euros starting from January from the deal signed with Telecom Italia. (*) Barclays on Wednesday raised the group’s target price to 3.30 euros from 3.20 euros.

ATLANTIA

The motorway and airport operator said on Tuesday ratings agency S&P confirmed the ‘BBB+’ rating of the group and its ASPI and ADR units, and upgraded the outlook from ‘NEGATIVE’ to ‘STABLE’.

(*) GENERALI

The insurer is negotiating the acquisition of Adriatic Slovenica, the third largest insurance group of Slovenia, Il Sole 24 Ore reported, citing the Slovenia Times.

Generali declined to comment.

(*) CARIGE

Funds York Capital and Cerberus have made an offer for Marina Genova, the port authority in the northern Italian city which owes 90 million euros to Carige, Il Messaggero reported. Maria Genova’s debt falls in some 500 million euros of unlikely-to-pay loans that the lender intends to sell and the funds’ offers is roughly 50 percent of the debt’s value, it added.

GEOX

The shoemaker gave a cautious outlook for full year revenue after a steep first quarter sales drop due to a retail overhaul, lower discounted sales and poor weather.

(*) ASTALDI

The group said on Wednesday it had approved a capital increase for up to 300 million euros and said it had signed an agreement with Japan’s IHI Corporation, which would take part in the capital increase. Astaldi said its first quarter revenues were down to 604 million euros from 651.4 million euros the previous year.

RETELIT

The group confirmed its 2018 guidance after posting first quarter revenues up to 14.9 million euros, from 13.6 million in the same period the previous year.

(*) VITTORIA ASSICURAZIONI

Vittoria Capital said on Wednesday it would launch an offer on 40.76 percent of Vittoria Assicurazioni - at 14 euros per share or 1.4 unlisted Vittoria Capital shares - with the aim of delisting the insurance group.

TELECOM ITALIA (TIM)

Board meeting on Q1 results.

ACSM-AGAM

Extraordinary shareholders’ meeting (1330 GMT).

GAS PLUS

Annual general meeting (0830 GMT).

INDEL B

Annual general meeting (0830 GMT).

PANARIAGROUP

Board meeting on Q1 results.

PHILIPS

Italian unit holds opening ceremony of its new headquarter in Milan with Italian unit Chairman and CEO Stefano Folli, Executive Vice President Henk de Jong (1200 GMT).

(*) IPO

Italy’s newspaper Il Fatto chose Advance Sim, Fidentiis and Emintad as financial advisers for its Ipo, expected in the autumn, MF reported.

(*) ALITALIA

EasyJet is still interested in making an offer for the short haul business of Alitalia, the budget airline’s Chief Executive is quoted as saying by Il Sole 24 Ore.

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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