May 30, 2019 / 4:00 AM / in 2 months

Italy - Factors to watch on May 30

The following factors could affect Italian markets on Thursday.

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

(*) Italy could be called to early polls on Sept. 22 or 29 as frictions within the current coalition government intensify, La Stampa newspaper reported on Thursday.

ECONOMY

The European Commission wrote on Wednesday to the Italian government asking it to explain a deterioration in the country’s public finances, a move that sets the stage for a possible legal clash with the eurosceptic coalition in Rome.

DEBT

Italy’s Treasury sells up to 6 billion euros over four bonds at auction.

FIAT CHRYSLER AUTOMOBILES

The Japanese partners of Renault have not been left in the dark by the automaker over its merger talks with Fiat Chrysler, the chairman of Mitsubishi Motors Corp said on Wednesday.

Nissan Motor Co doesn’t see any particularly negative aspects for it in a possible merger of alliance partner Renault with the Italian American car maker, the chief executive of the Japanese automaker said on Wednesday.

Standard & Poor’s said on Wednesday it would review the credit ratings of FCA and Renault once they agreed the terms of the merger. The ratings would depend on the new group’s ability to turn around FCA’s European operations and accelerate electrification, S&P added.

FERRARI

Ferrari presented a luxury car with a difference on Wednesday — a hybrid model that can cruise silently through city streets on electric power as well as hitting a top speed of 340 km per hour.

ATLANTIA

An amendment to a law decree which is awaiting approval would make it easier to revoke a motorway concession ahead of time by relieving the officials taking the decision of any responsibility provided they obtained a preliminary assessment from state lawyers, several newspapers reported.

LEONARDO

The U.S. defence unit of the Italian aerospace group is growing significantly as the American military budget increases and the return on sales should increase, Chief Executive Officer Alessandro Profumo said on Wednesday on the sideline of an event in Ottawa.

(*) BPER BANCA

The bank’s board could discuss on June 13 the future of asset manager Arca, of which BPER owns 57%, MF reported. Options on the table include an IPO, a merger with another asset manager - possibly rival Anima Holding - and the sale of a stake to other investors. A final decision is expected by the autumn, it added.

BANKS

The European Commission has decided to appeal against an EU court ruling that overturned Brussels’ decision to block the rescue of small Italian bank Tercas, a Commission spokesman said on Wednesday.

Banca Popolare di Bari said in a statement that it did not change its plan to seek compensation for the significant damage caused to the bank when it bought Tercas in 2014.

ASSICURAZIONI GENERALI

Fitch on Wednesday upgraded Generali’s Issuer Financial Strenght rating to ‘A’ from ‘A-‘ and affirmed its Issuer Default Rating at ‘A-‘.

UNIPOLSAI

Fitch on Wednesday upgraded UnipolSai’s Issuer Financial Strength rating to ‘BBB+’ from ‘BBB’ and affirmed its Issuer Default Rating at ‘BBB’ with a negative outlook.

PRYSMIAN

Western Link said on Wednesday the repair to a section of a cable manufactured by Prysmian in the Irish Sea was almost complete and its return to service was expected in the first days of June.

(*) ASTALDI

Italian lenders UniCredit and BNL are not happy with a plan drawn up by Salini Impregilo and Cassa Depositi e Prestiti for the rescue of the troubled Italian construction group, Il Messaggero reported.

AXELERO

Extraordinary shareholders’ meeting (1400 GMT).

OLIDATA

Board meeting on FY results.

SERVIZI ITALIA

Annual and extraordinary shareholders’ meetings (0830 GMT) and board meeting on Q1 results.

DIARY

Trento, ‘Economics Festival’ starts, ends on June 2. Expected attendees include Italian Economy Minister Giovanni Tria, Bank of Portugal Deputy Governor Elisa Ferreira, former International Monetary Fund Chief Economist Olivier Blanchard

Rome, Telecom Italia CEO Luigi Gubitosi attends event (0830)

Milan, SACE and Simest present 2019 report on exports with SACE Chairman Beniamino Quintieri and CEO Alessandro Decio, UBI Banca CEO Victor Massiah, Saipem CEO Francesco Caio; state lender Cassa Depositi e Prestiti President Massimo Tononi (1400 GMT)

Castel San Pietro Terme, EY Energy Forum 2019 (0830 GMT); ends on May 31. Plenary session with Bio-On CEO Marco Astorri, Hera CFO Luca Moroni, Snam Chairman Luca Dal Fabbro, Maire Tecnimont CFO Alessandro Bernini, Terna CFO Agostino Scornajenchi, ERG Executive Chairman Alessandro Garrone, Hera CEO Stefano Venier.

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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