May 17, 2019 / 4:03 AM / 10 days ago

Italy - Factors to watch on May 17

The following factors could affect Italian markets on Friday.

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

Italian Deputy Prime Minister Matteo Salvini reiterated its defying tone against European Union budget rules on Thursday, even as Economy Minister Giovanni Tria tried to reassure markets that Rome remain committed in keeping its finances under control..

Deputy Prime Minister Matteo Salvini, leader of the ruling coalition League party, wants fresh elections in September so he can candidate himself as Prime Minister of a centre-right coalition, La Repubblica said.

ENEL, TELECOM ITALIA

Italy’s biggest utility has had “no formal contacts” over a possible tie-up of its jointly owned broadband infrastructure network Open Fiber with Telecom Italia (TIM), Enel’s Chief Executive Francesco Starace said on Thursday.

LEONARDO

The Italian defence group is in talks with a potential partner for an alliance in the torpedo business and has expressed interest for the engines and aircraft maintenance business of Piaggio Aerospace, CEO Alessandro Profumo said on Wednesday.

BANCA CARIGE

The ECB’s Single Supervisory Mechanism met in Lisbon and decided to give Carige an extension of a few weeks to a deadline for the bank to find a private shareholder to help in its rescue, several papers said.

UNICREDIT,MEDIOBANCA, GENERALI

UniCredit has no intention of selling its 8.4% stake in Mediobanca since it wants to oversee developments at Italy’s No 1 insurer Generali, MF said. Mediobanca is Generali’s biggest shareholder.

FIAT CHRYSLER

The Italian American automaker sold 88,800 vehicles in Europe in April. Its marker share rose to 6.6% form 6.0% in March.

ERG, A2A

The sale of wind power group Renvico, owned by Macquarie Infrastructure, is set to start with ERG and A2A interested alongside a series of funds like Tages, F2i and Quercus, Il Sole 24 Ore said. The company could be worth around 400 million euros.

AUTOGRILL

The Italian caterer said on Thursday that new accounting standards IFRS 16 can have a negative impact on the company’s net profit in the first year of introduction, but will not impact net cash flow generation..

ACEA

Fitch Ratings confirmed Acea’s Long-Term Issuer Default Rating at ‘BBB+’ with Stable outlook.

(*) ASTM, SIAS

The Gavio Group, which controls ASTM and SIAS, is looking at shortening the command chain, Il Sole 24 Ore said, citing comments by the ASTM chairman who however added that at the moment nothing was on the table.

DIARY

Milan, “EU-Japan EPA Forum” ends (0645 GMT); expected attendees include Industry Ministry Undersecretary Michele Geraci, Mitsubishi Chairman Masaki Sakuyama, EU Commissioner for Trade Cecilia Malmstroem.

Rome, conference on the role of banking foundations with state lender Cassa Depositi e Prestiti Group (CDP) Chairman Massimo Tononi (0830 GMT).

Milan, Intesa Sanpaolo, conference with Chairman Gian Maria Gros-Pietro; (0930 GMT).

Bergamo, conference with Cabinet Undersecretary Giancarlo Giorgetti (1600 GMT).

Rome, banking association ABI holds conference with ABI Director General Giovanni Sabatini, UBI Banca Deputy Chairman Roberto Nicastro, UniCredit adviser Maria Pierdicchi (1345 GMT).

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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