May 27, 2020 / 4:00 AM / 2 months ago

Italy - Factors to watch on May 27

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

The Netherlands insists that the planned European Recovery Fund should hand out financial aid for virus-hit member states only in the form of loans that would have to be paid back, Dutch Prime Minister Mark Rutte said on Tuesday.

CORONAVIRUS

Deaths from the COVID-19 epidemic in Italy climbed by 78 on Tuesday, against 92 the day before, the Civil Protection Agency said, while the daily tally of new cases increased to 397 from 300 on Monday.

ECONOMY

Assogestioni releases April asset management flows data.

DEBT

Treasury sells 6.5 billion euros of six-month BOT bills and 3.5 billion euros of ‘flexible’ BOT bills due Feb. 12, 2021. Subscriptions close at 0900 GMT.

UBI BANCA, INTESA SANPAOLO

Italy’s fifth-largest bank said on Tuesday its board had decided to start legal action in relation to a takeover offer by rival Intesa Sanpaolo as it attempts to fend off the unsolicited bid.

FIAT CHRYSLER, INTESA SANPAOLO

Italy’s biggest retail bank Intesa Sanpaolo approved on Tuesday a 6.3 billion euro ($6.9 billion) loan for Fiat Chrysler subject to the car maker securing a guarantee from the state, a source close to the matter said.

Fiat Chrysler Automobiles will on Tuesday begin reopening its two facilities in the central Mexican city of Toluca after a gradual restart of its operations in the northern city of Saltillo a day earlier, a company spokesman said.

(*) ATLANTIA

Prime Minister Giuseppe Conte will meet with Transport Minister Paola De Micheli and Economy Minister Roberto Gualtieri on Wednesday morning over the group’s motorway concession which the government has threatened to revoke, Il Messaggero reported.

UniCredit’s lending division has given a green light to a 1.25 billion euro loan for Atlantia’s Autostrade per l’Italia unit which would be financed by a pool of banks led by UniCredit once Atlantia secures a guarantee from the state under an anti-COVID-19 emergency liquidity package, a person familiar with the matter said confirming press reports.

NEXI

Private equity vehicle Mercury UK said on Tuesday it would sell 8.8% of Italian payments group through an accelerated bookbuilding procedure. (*) The stake has been placed at a price of 14.2 euros per share - a 7.2% discount to Nexi’s closing price of 15.305 euros a share on Tuesday, - a Milan-based trader said.

RCS MEDIAGROUP

Milan’s Arbitral Tribunal has judged that the contracts over the sale of RCS’ Milan headquarters to Blackstone in 2013 were valid but found that the purchaser’s behaviour may entitle the Italian publisher to compensatory damages, RCS said on Tuesday.

PRYSMIAN

The cable maker on Tuesday said it had won a 270 million euro order for the Crete-Attica submarine interconnection in Greece.

ITALGAS

Italgas said on Tuesday it had bought 15% of Reti Distribuzione for 4.6 million euros.

EDISON

Saving shareholders’ meeting (1230 GMT); on May 28 on second call and May 29 on third call.

JUVENTUS, LAZIO, ROMA

Italy’s top flight soccer league Serie A said on Tuesday that broadcast rights holders must pay the final instalment for the current season, which has been halted due to the coronavirus outbreak.

DIARY

Rome, UPB-parliamentary budget office (0700 GMT), trade unions and companies (from 0815 GMT), Italian banking association ABI Director General Giovanni Sabatini (1745 GMT) due to speak before Senate and Chamber of Deputies Budget committees on the government’s latests stimulus package.

Online event “110% Superbonus: green and safe houses for sustainable cities” with Economy and Finance Ministry representative Gabriele Buia, Cabinet Undersecretary Riccardo Fraccaro, Italian banking association ABI Deputy Director Gianfranco Torriero (1330 GMT).

“Milano Digital Week” continues online edition; ends on May 30.

IR Top and Doorway hold presentation of strategic partnership for the launch of the first equity investing platform dedicated to real economy investors from startups to PMIs and IPO listings on AIM segment (0900 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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