May 29, 2019 / 4:04 AM / 9 months ago

Italy - Factors to watch on May 29

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 European Commission will send a letter on Wednesday to the Italian government asking for clarifications on its expanding debt, an EU official said on Tuesday.

ECONOMY

ISTAT releases May consumer and business confidence data (0800 GMT).

DEBT

Italy’s bond yields rose sharply for a second day on Tuesday as its deputy prime minister Matteo Salvini hit back over what he said were European Union plans to slap a fine on the country for spending too much.

Treasury sells 6.5 billion euros new 6-month BOT bills. Subscriptions close at 0900 GMT.

COMPANIES (*) MEDIASET

Mediaset has acquired 9.6% of German rival Prosiebensat.1, the Italian broadcaster said on Wednesday, adding the transaction was a friendly move.

(*) MONTE DEI PASCHI

Italian lender Monte dei Paschi is set to sell a portfolio of unlikely-to-pay loans worth 130 million euros to Bank of America Merrill Lynch , Il Sole 24 Ore reported.

(*) SALINI IMPREGILO

Italian state lender Cassa depositi e Prestiti is considering injecting 300 million euros in the builder to help fund the creation of a top player in the construction sector, Corriere della Sera reported.

(*) NEXI

Italian state lender Cassa Depositi e Prestiti increased its stake in payment service group SIA beyond 83%, Il Messaggero reported. The move could lead to a merger with SIA bigger rival Nexi, the paper added.

FIAT CHRYSLER AUTOMOBILES

The Italian-American car maker’s proposal for a merger with Renault has no immediate impact on ratings and would be credit positive but there are significant execution risks for the deal, Moody’s said on Tuesday.

Rating agency DBRS said on Tuesday that “the merger, if completed, would likely have positive credit implication”.

BANCO BPM

Italy’s third largest lender said on Tuesday it had appointed the head of its NPL unit Edoardo Ginevra as new chief financial officer.

Moody’s said on Tuesday it upgraded Banco BPM’s deposit ratings to Baa3 from Ba1 as the bank improved its asset quality following its recent derisking.

CDR ADVANCE CAPITAL

Bondholders’ meetings (1300, 1330, 1400, 1430 GMT).

EXOR

Annual general meeting (0700 GMT).

KI GROUP

Board meeting on Q1 results.

Board meetings on FY results: CALEIDO GROUP, ECOSUNTEK, ENERTRONICA, NETWEEK.

DIARY

Rome, Cabinet Undersecretary Giancarlo Giorgetti speaks before Parliamentary commission for the implementation of fiscal federalism (0630 GMT).

Rome, report presentation on “Public Welfare and Occupational Welfare”; expected attendees include trade union CGIL Secretary General Maurizio Landini, Deputy Prime Minister and Industry Minister Luigi Di Maio, budget parliamentary office President Giuseppe Pisauro, welfare institute INPS President Pasquale Tridico (0700 GMT); Chamber of Deputies Speaker Roberto Fico delivers closing address (1030 GMT).

Rome, conference on “Twenty Years since the Liberalization of the Electricity Market” (0800 GMT); expected attendees include Deputy Prime Minister and Industry Minister Luigi Di Maio, Terna CEO Luigi Ferraris, Acquirente Unico President Andrea Peruzy, Enel Italian unit Director Carlo Tamburi, Utilitalia and A2A Chairman Giovanni Valotti.

Rome, state auditor ‘Corte dei Conti’ presents “2019 Report on “Coordination of Public Finance” with President Angelo Buscema, Cabinet Undersecretary Giancarlo Giorgetti (0830 GMT).

Milan, DAZN holds news conference on first sports season (0900 GMT).

Milan, Foreign Press Association holds meeting with Banco BPM CEO Giuseppe Castagna (0930 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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