November 20, 2019 / 5:03 AM / 19 days ago

Italy - Factors to watch on Nov. 20

The following factors could affect Italian markets on Wednesday.

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

Far-right leader Matteo Salvini’s seemingly unstoppable political rise in Italy has been hit by an unlikely challenge from a grassroots movement known as “the sardines”.

The group emerged in the city of Bologna last week when four friends invited people to join a protest against Salvini’s League, whose popularity is growing ahead of an election in the northern Emilia-Romagna region.

ECONOMICS

A reform of the European Stability Mechanism (ESM) that crushes Italy is not “feasible”, Foreign Minister Luigi Di Maio told daily Corriere della Sera on Wednesday.

Proposals to reform the euro zone’s bailout fund are creating a political storm in Italy, where parties and institutions are battling over whether Rome should try to block the reform at the EU level.

COMPANIES (*) INTESA SANAPAOLO, NEXI

Italian biggest retail bank is discussing a strategic partnership with the payments firm, il Messaggero said. Under the deal, Intesa could sell its “acquiring” unit to Nexi and enter into the company’s capital with a 30% to 40% stake, the newspaper added.

INTESA SANPAOLO, GENERALI

Intesa Sanpaolo is not interested in Assicurazioni Generali, the Italian bank’s chairman said, after the lender had considered a bid for the country’s top insurer two years ago.

ATLANTIA, ALITALIA

Italian infrastructure group Atlantia said on Tuesday it was not ready to join a consortium led by Italian railway group Ferrovie dello Stato to rescue loss-making carrier Alitalia, casting a shadow on the entire project.

LEONARDO

European defence programmes should be issued with a single weapons export licence so policy changes of an individual state do not affect the supply chain, the CEO of Italian defence company Leonardo said on Tuesday.

DOVALUE

Italy’s biggest loan recovery firm has emerged as the strongest bidder for Eurobank’s loan servicing unit, sources familiar with the matter told Reuters, a deal critical for the turnaround of Greece’s third largest lender.

(*) CARIGE (shares suspended from trading)

Italy’s market regulator is expected to approve a 700 million euro capital increase of the struggling bank in a week, Il Sole 24 Ore said. The bank’s shares could resume trading from March, it added.

(*) INWIT, TELECOM

The EU antitrust approval for the merger of INWIT, the mast group controlled by Telecom Italia, and Vodafone’s Italian towers could take longer than expected, Il Sole 24 Ore said.

SNAM

Board meeting on strategic plan (press release on Nov. 21).

DIARY

Milan, ISPI holds conference on “Dialogue with Armenia Prime Minister Nikol Pashinyan” (1700 GMT).

Arezzo, municipalities association ANCI annual assembly (0800 GMT); expected attendees include Prime Minister Giuseppe Conte (1130 GMT), Regional Affairs Minister Francesco Boccia, Infrastructure Minister Paola De Micheli, Industry Minister Stefano Patuanelli, Agriculture Minister Teresa Bellanova, state lender Cassa Depositi e Prestiti CEO Fabrizio Palermo.

Rome, Interior Minister Luciana Lamorgese speaks before Chamber of Deputies on programmatic lines (1300 GMT).

Rome, CER-European Reseach Centre President Vladimiro Giacche speaks before Chamber of Deputies Budget Committee on ESM reform (1330 GMT).

San Donato Milanese, NPL conference with Banca Monte dei Paschi Head of Non-Performing Loans Lucia Savarese, Credito Fondiario CFO Mirko Briozzo (0900 GMT).

Credit village, “Credit industry: connecting yesterday and tomorrow” con vice DG Credito Fondiario Mirko Briozzo (10,00-10,45), Montepashi responsabile NPL Lucia Savarese (10,45-11,00) (10,00-16,30) Crowne Plaza hotel.

Milan, inauguration and prize-giving ceremony of Cairo prize “The new talents of contemporary art” with Cairo Communication and RCS Media Group Chairman Urbano Cairo (1730 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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