May 15, 2015 / 4:01 AM / in 3 years

Italy - Factors to watch on May 15

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 .

ECONOMY

Rating agency S&P revises sovereign debt rating on Italy.

Economy Minister Pier Carlo Padoan meets President of Bavaria Horst Lorenz Seehofer (1500 GMT).

COMPANIES

* TELECOM ITALIA, TERNA, ENEL

The chief executive of Terna Matteo Del Fante met Raffaele Tiscar, a member of the government broadband task force, on May 4 to discuss his company’s possible involvement in the roll-out of ultra-fast broadband networks. The government is also talking to Enel about the same project in what could be a setback for Telecom Italia.

BANKS

The local government of Italy’s northern Lombardy region is challenging the recently approved reform of the country’s cooperative banks, saying it is anti-constitutional. * Edizione, the holding of the Benetton family, could consider an investment in the banking sector, and in particular in cooperative lenders, after an expected wave of mergers among the popolari banks, Gilberto Benetton said on Thursday.

* BANCO POPOLARE, POPOLARE MILANO

Banco Popolare believes it can find a merger partner “in a reasonable timeframe”, is talking with everybody and “talks are becoming more intense”, its chief executive Pier Francesco Saviotti told Il Sole 24 Ore on Friday.

However he added there was nothing concrete on the table yet. Banca Popolare di Milano could be his favourite partner but there are alternatives, he said.

Saviotti also said that if a government-sponsored bad bank project meant banks had to write down the nominal value of bad loans by 70-80 percent “I’d say thank you and goodbye: at those prices I won’t do anything.”

WORLD DUTY FREE

The Italian airport retailer on Thursday raised its 2015 targets for revenues and core profit to reflect more favourable exchange rates, and said revenues in the first 18 weeks rose 23.5 percent to 789.6 million euros ($897 million).

UNICREDIT

Offer to buy back seven Tier 2 bonds ends.

The lender wants to “defend” its business in Ukraine despite political tensions in the country, the boss of its central and eastern European division said on Thursday.

A2A

Board meeting on Q1 results, followed by conference call with analysts (1300 GMT) and press (1430 GMT).

GEOX

The company said its net profit increased by 25 percent in the first quarter while sales grew 5 percent.

SALINI IMPREGILO

The builder said first-quarter net profit rose to 51.2 million euros from 21.2 million the previous year, while its revenues increased by 14 percent to 1 billion euros.

LUXOTTICA

The eyewear maker has renewed its license agreement with Prada until the end of 2025.

PININFARINA

The automotive design group said first-quarter net loss widened to 2.6 million euros from a loss of 1.5 million a year earlier and expects its net financial position to worsen this year.

RCS MEDIAGROUP

The company does not expect capital losses from planned asset sales, its CFO Riccardo Taranto told a post-results conference call.

The publisher will present its new three-year industrial plan in coming weeks, Chief Executive Pietro Scott Jovane said during the same call.

PIRELLI

Everything ready by the end of July for ChemChina to launch a public offer on Pirelli shares as part of a deal agreed in March, Pirelli CEO Marco Tronchetti told a shareholders meeting on Thursday.

BANCA INTERMOBILIARE

Board meeting on Q1 results.

TISCALI

Board meeting on Q1 results (1300 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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