May 27, 2019 / 4:04 AM / in 2 months

Italy - Factors to watch on May 27

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

The far-right League became Italy’s largest party in Sunday’s European parliamentary election, surging past its coalition partner the 5-Star Movement, which saw its own support slump. The vote looks certain to alter the balance of power within the deeply divided government, giving greater authority to League leader Matteo Salvini, who is pushing for swinging tax cuts in possible defiance of EU budget rules.

DEBT

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on May 30.

Treasury said on Friday it would offer 6.5 billion euros in 6-month bills at auction on May 29.

FIAT CHRYSLER

The Italian American carmaker said on Monday it has made a “transformative merger” proposal to French peer Renault , in a deal which would create a world leader and help address some of the weaknesses in both Renault and Fiat.

Fiat said the combined business would be 50% owned by FCA shareholders and 50% owned by those of Renault.

TELECOM ITALIA, VIVENDI, ENEL

Italy’s CDP is considering selling its stake in broadband operator Open Fiber to Telecom Italia, which would issue shares for the state-owned lender in return for the holding, daily Il Messaggero reported on Saturday..

CARIGE (shares suspended from trading)

Carige’s special commissioners might increase the number of job cuts at the lender, above the 1,200 layoffs announced in February, as they look for new private investors to help to rescue the ailing bank, Il Corriere della Sera daily said on Saturday.

MONTE DEI PASCHI

The lender’s capital and liquidity position is “absolutely fine” but the bank has to be ready to face more challenging conditions in the future, Chief Executive Marco Morelli said in an interview with Milano Finanza, published on Saturday. Morelli reiterated that the macroeconomic environment had worsened a lot since MPS restructuring plan was drafted 24 months ago. “We must review some of the assumptions we made,” he said.

AUTOGRILL

The Italian caterer’s U.S. unit HMSHost has completed the sale of all the 23 travel centres it operated on Canadian motorways, the company said on Sunday, adding the value of the transaction for HMSHost amounted to $190 million.

SARAS

The Italian refiner “is open” to new partnership deals with industrial groups, as it has been the case with Russia’s Rosneft, Chief Executive Dario Scaffardi told daily Il Sole 24 Ore on Saturday. He added it would also make sense that a prominent oil group gets a stake in Saras, but that was up to shareholders to decide.

ALITALIA (unlisted)

Toto Holding will meet Ferrovie dello Stato Chief Executive Battisti in Rome on Wednesday after the Italian infrastructure company said in a letter it was willing to play a role in the Alitalia rescue efforts led by the state railway company, daily Il Messaggero reported on Sunday.

AS ROMA

AS Roma beat Parma 2-1 on Sunday to end the season in sixth place in Serie A, missing out on a lucrative Champions League spot as Inter Milan, Atalanta and AC Milan recorded wins to finish above them.

SNAM

The Italian gas group said on Friday it has issued debt on a 2030 maturity for an amount of 250 million euros through private placement.

SAES GETTERS

The company successfully has closed a partial and voluntary tender offer on its own shares, Italian Stock Exchange on Friday. [nBIA9df3Fj

Annual general meetings: AMBIENTHESIS (1300 GMT), CLASS EDITORI.

Trade ex-dividend: ASTM of 0.302 euro per share as final 2018 dividend (0.23 euro as interim dividend on Nov. 26, 2018); CAIRO COMMUNICATION of 0.14 euro per share; CONAFI of 0.08 euro per share; DATALOGIC of 0.50 euro per share; DOBANK of 0.46 euro per share; EL.EN. of 0.40 euro per share; INDEL B of 0.69 euro per share; IRCE of 0.05 euro per share; MARR of 0.78 euro per share, SABAF of 0.55 euro per share; TECHEDGE of 0.058 euro per ordinary share; TRIBOO of 0.0696 euro per share.

DIARY

Milan, ‘Giovanni Agnelli Associate Professorship In Economics’ at Bocconi University opens academic year with conference on “Competition and Monopoly from Microeconomics to Market Design”, FCA Chairman John Elkann delivers opening address (1300 GMT).

Milan, RCS Academy Business School and Google holds open day, RCS MediaGroup Chairman and CEO Urbano Cairo delivers opening address (0730 GMT).

Milan, conference on “Global CEO Survey, Focus on Italy” with Elite CEO Luca Peyrano (1230 GMT).

Milan, “AIM Italia Conference 2019” (0630 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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