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Italy - Factors to watch on Nov. 13
November 13, 2017 / 5:02 AM / in 10 days

Italy - Factors to watch on Nov. 13

The following factors could affect Italian markets on Monday.

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 .

DEBT

Treasury sells 4.5-6.0 billion euros over three bonds due in 2020, 2024 and 2033 at auction.

Offer of new ‘BTP Italia’ retail-linker due November 2023 starts for to small investors. Ends on Nov. 15 barring early closure.

POLITICS

The outcome of local elections in Sicily has further weakened the ruling party of former Prime Minister Matteo Renzi and strengthened the populist 5-Star Movement’s lead, a poll conducted after the regional vote showed.

COMPANIES

BANKS

The European Central Bank can impose capital requirements on banks to provide for bad loans only on a case-by-case basis, the European Commission said in a document published on Friday, a clarification that could weaken the ECB plan. (*) An Italian parliamentary committee on the country’s banking crisis will start looking into Banca Monte dei Paschi di Siena on Tuesday and will be hearing both the governor of the Bank of Italy and the head of the Italian market watchdog Consob, but only towards the end of its works, its chair Pier Ferdinando Casini told La Stampa in an interview on Monday.

TELECOM ITALIA

The phone group’s new boss poured cold water on Friday on speculation of a potential sale of the phone group’s Brazilian business, as investors await his strategic plan due in February next year.

Italy’s justice ministry has raised objections over the way the industry ministry was planning to amend the law on the government’s special power over strategic companies in order to cut or drop a fine against Telecom Italia, Il Sole 24 Ore reported on Saturday, adding the industry ministry was now trying to reformulate the amendments.

The paper also said Italy’s telecoms authority will refrain from recommending a spin-off of Telecom Italia’s fixed-line network in a report ready to be sent to Industry Minister Carlo Calenda but will illustrate remedies enforceable to ensure the network’s neutrality.

Rolling Enel’s broadband infrastructure network into that of Telecom Italia would make sense, Fastweb CEO Alberto Calcagno told Il Sole 24 Ore on Sunday. But he said Fastweb would continue with its own broadband network, whose roll-out is being done in partnership with TIM, while remaining a client of TIM or Open Fiber in the so-called non-economically viable areas. Calcagno ruled out any idea of a sale of Fastweb by parent Swisscom.

(*) FINCANTIERI

The group said on Monday that it had submitted the proposal to seek the privatisation of its nit Vard by way of voluntary delisting and that the deal has a maximum consideration of 60.9 million SGD.​ (*) MONCLER

The luxury outerwear company said on Monday it would end its Gamme Rouge and Gamme Bleu lines and their designers would leave the company.

Chairman and CEO Remo Ruffini tells l‘Economia/Corriere della Sera that he still has “a lot to do ” and many projects in mind for the group, when asked if he intends to sell the company.

(*) SALVATORE FERRAGAMO

The Ferragamo family has received offers but does not intend to sell its share in the luxury group, Chairman Ferruccio Ferragamo is quoted as saying in l‘Economia/Corriere della Sera on Monday. The report adds that an agreement among the members of the Ferragamo family, signed at the end of July and valid for three years, establishes that the group’s Chief Executive will always be a person outside of the family and the entrance of family members will be subject to an assessment. The agreement is aimed at the younger generations, does not change the property rights not does it interfere with the current management of the company, Ferragamo is quoted as saying.

(*) UBI BANCA

The bank prefers to manage its soured loans by itself and thinks that forced sales of bad loans destroy value, UBI Banca CEO Victor Massiah told Affari&Finanza/la Repubblica.

The lender could be a prey in a potential new M&A activity, Massiah said, adding UBI is interested in buying asset managers.

LEONARDO

Leonardo could be part of an Italian-French defence and security consortium led by France’s Thales, La Republica said on Sunday, adding the idea had been spoken of. Such a consortium would follow the tie-up between Finacntieri and STX.

Leonardo said on Sunday it had signed a contract with the UK Ministry of Defence, to provide equipment that will simulate radar threats to the RAF’s new A400M transport aircraft prior to take-off.

Milestone Aviation Group, global leader in helicopter leasing, and Leonardo announced on Sundays that Falcon Aviation of Abu Dhabi would expand its AgustaWestland AW169 helicopter fleet with the addition of a further three aircraft. (*) A senior Italian air force official said on Saturday that he expects French and German plans to develop a new warplane will eventually include other European countries.

UNIPOL , BANCA CARIGE

CEO Carlo Cimbri told an analyst call on Friday the insurer is “rooting with great enthusiasm” for the bank to successfully complete its new share issue. Unipol has taken up a bond conversion offer by Carige and holds 50 million euros of the bank’s senior debt.

MEDIASET

The directors of the Italian broadcaster proposed on Friday a change in the size of its board and the way its members are appointed, in a move that could restrict French shareholder Vivendi’s influence.

BPER BANCA

CEO Alessandro Vandelli told Class CNBC in an interview the bank was focused on lowering its problematic loans and would consider potential mergers only at a later stage, Milano Finanza reported on Saturday.

AZIMUT HOLDING

CEO Pietro Giuliani told Milano Finanza the dividend of 1 euro a share paid out last year should be consider “a floor without ruling anything out.”

(*) EDISON

The Italian energy group is the “strategic and operative centre” for all of the gas acquisitions of the EDF group, CEO Marc Benayoun told Affari&Finanza/la Repubblica in an interview on Monday. He added Edison was committed to maintaining a high level of diversification of Italy’s gas supply in order for the country to be protected in case contracts were not renewed because of geopolitical reasons.

IL SOLE 24 ORE

The group posted a 9-month net loss of 20.4 million euros, up from a loss of 35.1 million euros a year ago.

BONIFICHE FERRARESI

Share are suspended from negotiation ahead of de-listing on Nov. 14.

EXPERT SYSTEM

Capital increase starts; ends on Nov. 30.

GRUPPO WASTE ITALIA

Meeting of the holders of the 2019 Senior Secured Notes (0930 GMT).

UNIEURO

Presents new partnership with LG, with CEO Giancarlo Nicosanti Monterastelli (1000 GMT).

A2A

Board meeting on Q3 results, followed by conference call (1530 GMT).

ENAV

Board meeting on Q3 results, followed by conference call.

IMMSI

Board meeting on Q3 results.

IREN

Board meeting on Q3 results.

PININFARINA

Board meeting on Q3 results.

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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