May 7, 2019 / 4:02 AM / 17 days ago

Italy - Factors to watch on May 7

MILANO, May 7 (Reuters) - The following factors could affect Italian markets on Tuesday.

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

Rome, European Commissioner for Economic and Financial Affairs Pierre Moscovici to be interviewed at opening of PD party political campaign (1600 GMT).

ECONOMY

(*) The European Commission could revise down slightly on Tuesday its 2019 growth estimate for the Italian economy, Il Sole 24 Ore reported. The Commission in February forecast the Italian economy would expand by 0.2 percent this year. It is due to publish new forecasts on Tuesday.

ISTAT releases monthly bulletin on the state of the economy in April (0800 GMT).

DEBT

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on May 10.

(*) UNICREDIT, FINECOBANK

Italy’s biggest bank said it was considering further reducing its stake in its FinecoBank unit and had adopted measures to ensure the online broker could operate outside the group.

Il Sole 24 Ore daily said on Tuesday UniCredit could sell 10-15 percent of Fineco. UniCredit declined to comment on the report.

(*) FINECOBANK

The italian online broker reported a net profit of 62.6 million euros for the first quarter..

(*) ESSILORLUXOTTICA

The French-Italian group has kept its full-year outlook unchanged after posting upbeat first-quarter sales, although some concerns remain among investors over the future of governance at the world’s largest eyewear maker.

Conference call on Q1 results (0830 GMT).

(*) MEDIASET

A board meeting on Tuesday will discuss rules for a loyalty share scheme in relation in particular to whether shares held by French media group Vivendi are eligible for the scheme, a source familiar with the matter said confirming newspaper reports.

According to Il Messaggero, the Mediaset board wants to prevent Vivendi’s stake, which the Italian group deems irregularly acquired, from being eligible. The paper also said the board would discuss international tie-up options.

BANCA CARIGE

Italian banks have backed a 720 million euro rescue plan ($806 million) that will hand control of troubled peer Carige to U.S. asset manager BlackRock, the head of a banking fund said on Monday.

TELECOM ITALIA

The phone group said in a statement that Giovanni Ronca, a former UniCredit executive, would take over as chief financial officer on June 17.

The company also said that the board, which met on Monday, did not share the view expressed by internal auditors that U.S. fund Elliott is exercising a significant influence over the group.

Separately, the board of the phone group reckons that a bid submitted by Italian infrastructure fund F2i for its broadcasting unit Persidera is fair, a source close to the matter said on Monday. The binding offer is worth between 240 million and 250 million euros ($279 million), sources have said .

ASSICURAZIONI GENERALI

Shareholder Caltagirone does not plan to buy more shares in the insurer for now, it said on Monday.

ENERTRONICA

Board meeting on FY results.

FERRARI NV

Releases Q1 results and holds conference call (1430 GMT).

Annual general meetings: ASSICURAZIONI GENERALI (0700 GMT), ALKEMY (1400 GMT), BEGHELLI (1430 GMT), KOLINPHARMA (1330 GMT), NOVA RE (1000 GMT), SABAF (0830 GMT).

Board meetings on Q1 results: CNH INDUSTRIAL followed by conference call, INTESA SANPAOLO, AMPLIFON followed by conference call (afternoon), BANCA MEDIOLANUM (0800 GMT) followed by conference call (1430 GMT), CAMPARI GROUP followed by conference call (1100 GMT), CERVED GROUP followed by conference call, ELICA followed by conference call, FINECOBANK, IGD, PIAGGIO followed by conference call.

DIARY

Rome, Prime Minister Giuseppe Conte expected to meet Libya’s U.N.-backed Prime Minister in Tripoli Fayez al-Serraj.

Milan, Prime Minister Giuseppe Conte and Agriculture Minister Gian Marco Centinaio are among expected attendees at a forum on ‘Made in Italy’ agribusiness (1230 GMT).

Milan, Prime Minister Giuseppe Conte gives speech at Seeds&Chips-The Global Food Innovation Summit at session of “Puglia is The Place to be for Precision Agriculture” (1530 GMT).

Milan, Deputy Prime Minister and Interior Minister Matteo Salvini attends inauguration ceremony of new headquarter of ‘National Agency for Seized and Confiscated Property (ANBSC)’(0830 GMT); followed by news conference.

Milan, ISPI holds conference on “Italy in the New Global Economic Equilibrium: What National Interest?” with Industry Undersecretary Michele Geraci, Enel Chairwoman Patrizia Grieco, Fincantieri and ISPI Chairman Giampiero Massolo, UBI Banca Chairwoman Letizia Moratti, banking association ABI Deputy President Fabrizio Saccomanni, SACE president Beniamino Quintieri; Economy Deputy Minister Massimo Garavaglia expected to attend; Prime Minister Giuseppe Conte delivers closing address (1430 GMT).

Rome, ‘Discussion Day on Corporate Governance in Italy’ during which market regulator Consob presents report on corporate governance and a research on the remuneration of the boards of directors of FTSE MIB companies; expected attendees include Italgas CEO Paolo Gallo, Snam Chairman Luca Dal Fabbro, Acea CEO Stefano Donnarumma (0900 GMT).

Milan, Banca Ifis holds news conference to present new “#RaccontamImpresa” project with Director General Alberto Staccione (1300 GMT).

Milan, international commerce agency ICE holds news conference to present initiative with Amazon for ‘Made in Italy’ products with President Carlo Ferro and Director General Roberto Luongo, Amazon.it and Amazon.es Country Manager Mariangela Marseglia (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

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:............................... (Reporting By Viviana Venturi)

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