May 4, 2018 / 4:03 AM / 17 days ago

Italy - Factors to watch on May 4

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

Prime Minister Paolo Gentiloni attends “State of the world” conference in Genoa (1600 GMT).

ECONOMY

Markit/ADACI releases April service Pmi data (0745 GMT).

(*) ASSICURAZIONI GENERALI

Italy’s biggest insurer said on Friday its profit in the first three months rose 8.6 percent to top forecasts, driven by a strong performance in non-life business.

TELECOM ITALIA (TIM)

Warring investors will take their battle for boardroom control of TIM to a shareholder vote on Friday, with both sides promising major changes to reshape Italy’s slumbering telecoms heavyweight.

(*) Attendance at Friday’s shareholder meeting will be of at least 66.5 percent of TIM’s capital, several newspapers reported.

(*) If Elliott won Friday’s vote, Vivendi would look to reduce its stake in TIM, Il Sole 24 Ore reported, adding experts were already at work to look for possible solutions, including state lender CDP raising its holding.

(*) Elliott is slightly ahead of Vivendi in Friday’s vote, Il Sole 24 Ore reported, adding the U.S. activist fund could count on the support of institutional investors accounting for 27 percent of TIM’s capital. Elliott has the backing of 5 percent investor CDP and of Asati, the small shareholders’ association accounting for 0.8 percent of TIM’s capital.

(*) TIM’s Q1 results have started to fall with core earnings down 0.9 percent, Il Messaggero said, citing bankers and people who have seen the numbers. This trend was confirmed in April, the paper said. Meantime, French newcomer Iliad is set to pre-launch its services this weekend in Rome and Catania, it said.

FERRARI

Chief Executive Sergio Marchionne said on Thursday it was “doubtful” that the company would buy another car brand. He added that by 2022 nearly all product offerings would include some hybrid elements.

MONCLER

Board meeting on Q1 results, followed by conference call (1430 GMT).

EI TOWERS

The group confirmed its full-year targets on Thursday after posting a net profit of 17.4 million euros for the first three months of the year.

BANCA POPOLARE DI SONDRIO

The bank said on Thursday it had agreed to pay 53.4 million euros for PrestiNuova, a consumer finance group auctioned off by the commissioners who are liquidating Banca Popolare di Vicenza. Popolare di Sondrio said it expected to close the acquisition by the end of the third quarter with an impact of less than 18 basis points on its core capital.

TERNA

The power grid company said on Thursday it had renewed the multi-year partnership with photovoltaic operator RTR, focused on operation and maintenance services.

Annual general meeting (0900 GMT).

YOOX NET-A-PORTER

The luxury online retailer said on Thursday it converted ‘B’ shares - without voting rights - and issued and allotted 395,768 ordinary shares. Richemont’s shareholding now amounts to 23,182,220 ordinary shares and 42,417,377 ‘B’ shares.

EDISON

Board meeting on Q1 results.

VITTORIA ASSICURAZIONI

Board meeting on Q1 results.

NB AURORA

Listing on MIV segment ceremony (0630 GMT).

Annual general meetings: AMBROMOBILIARE (1600 GMT), ESPRINET (0900 GMT), ILLA (0900 GMT), LUCISANO MEDIA GROUP (0800 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

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