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Italy - Factors to watch on Nov. 23
November 23, 2017 / 5:00 AM / 18 days ago

Italy - Factors to watch on Nov. 23

The following factors could affect Italian markets on Thursday.

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

The Italian economy could grow above 1.5 percent this year, Economy Minister Pier Carlo Padoan told La Repubblica in an interview.

ISTAT releases September non-EU foreign trade (0900 GMT).

First day of two day conference “Fighting the Mafias” with EU foreign policy chief Federica Mogherini, Bank of Italy Director General Salvatore Rossi, Economy Minister Pier Carlo Padoan in Milan (1500 GMT).

Assogestioni releases October fund flows data.

DEBT (*) Italy’s high public debt remains a concern for the euro zone, and the European Commission is concerned the structural deficit will only improve by 0.1 percent in 2018, versus the 0.3 percent adjustment Brussels wants, Commissioner for Economic and Financial Affairs Pierre Moscovici told La Stampa newspaper. The Commission will look into whether Italy is respecting the bloc’s rules on its debt in spring, Moscovici added.

Treasury announces sale of 6-month BOT bills, with relative amounts to be auctioned on Nov. 28.

COMPANIES

(*) BANCA CARIGE

The lender said one of the bidders for consumer credit unit Creditis waived a condition that its offer be accepted by Nov. 22 as a prerequisite for taking unsold shares in the bank’s cash call.

(*) MEDIOBANCA

The investment bank said it would buy 69 percent of Swiss Asset manager RAM Active Investments.

(*) ATLANTIA

Atlantia is leaning towards raising the cash component of its offer for Abertis while keeping in place the share swap following feedback from investors who, during a recent roadshow, have appeared interested in getting shares in the new Spanish-Italian group, Il Sole 24 Ore reported.

(*) TELECOM ITALIA

Telecom Italia intends to comply with requests made by the government under special powers to protect the former state telephone monopoly as a strategic asset, its CEO said on Wednesday, demonstrating a significant thawing in relations between the company and Rome.

At a board meeting on Dec. 5, Telecom Italia will launch an internal inquiry on the pros and cons of a separating its fixed-line network and creating a company dedicated to infrastructure, La Stampa said in an unsourced report. A possible listing of the network was also being explored, the paper added.

ENI

Eni said on Wednesday its refineries in Italy were at risk of shutdown after Italian tax police seized assets as part of a probe into alleged tax evasion. (*) Venezuela’s PDVSA is in talks with Russia’s Rosneft, Italy’s Eni, Spain’s Repsol and Norway’s Statoil to get credit for oil and gas projects, a company executive said on Wednesday, in a bid to reverse a slump in output to an almost 30-year low.

FIAT CHRYSLER

FCA US Llc said it was recalling estimated 7,000 U.S.-market SUVs in customer hands to replace front passenger-side air bags.

BANCA MONTE DEI PASCHI DI SIENA

Italy’s Treasury said its slate of candidates for a new board of Monte dei Paschi included current CEO Marco Morelli and Chairman Alessandro Falciai. A source said Morelli would be staying on as CEO and Falciai as Chairman.

Falciai and Morelli speak before Bank Inquiry Parliamentary Committee (1200 GMT). (*) The lender said that based on definitive data 83.5 percent of shares targeted by a subordinated bond conversion have been tendered in the offer.

PIRELLI

CEO Marco Tronchetti Provera attends prize-giving ceremony of “Oscar di Bilancio” in Milan (1700 GMT).

BRUNELLO CUCINELLI

CEO Brunello Cucinelli attends Milan Fashion Global Summit “2018: Luxury Reloaded”.

EQUITA

Debuts on AIM segment of Milan stock exchange.

PIQUADRO

Board meeting on H1 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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