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Italy - Factors to watch on Nov. 30
November 30, 2017 / 5:00 AM / 15 days ago

Italy - Factors to watch on Nov. 30

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 .

POLITICS

Italy will back Portuguese Finance Minister Mario Centeno to be the next chairman of euro zone finance ministers, a government source said on Wednesday.

Naples, end of two-day conference with EU Commissioner for Environment, Maritime Affairs and Fisheries Karmenu Vella.

Rome, “Forum Rome MED 2017 - Mediterranean Dialogues” starts, ends on Dec. 2. Expected attendees include Eni CEO Claudio Descalzi, Leonardo CEO Alessandro Profumo, Lebanon President Michel Aoun (1300 GMT).

ECONOMY

ISTAT releases October unemployment rate (0900 GMT); November flash CPI and HICP data (1000 GMT); October producer prices data (1100 GMT).

Reuters releases November asset allocation poll (1200 GMT).

Milan, Cattolica University holds ‘2017 Finest Winter Workshop’ on “Contemporary issues in Banking and Finance” with Credito Valtellinese General Manager Mauro Selvetti, European Banking Authority (EBA) President Andrea Enria (0800 GMT).

Rome, new conference on “Digital Transformation into the Retail Payment System” with Bank of Italy Governor Ignazio Visco (0800 GMT).

Rome, Economy Minister Pier Carlo Padoan attends seminar on local government budgets (0830 GMT).

Rome, market regulator Consob President Giuseppe Vegas speaks before Chamber of Deputies Finance Committee (1300 GMT).

COMPANIES

BANKS

The European Central Bank is likely to delay two proposals designed to tackle the euro zone’s problem with bad loans after intense pushback from European and Italian lawmakers, three sources close to the matter told Reuters.

CREDITO VALTELLINESE

The bank said Citigroup had joined the guarantee consortium for its upcoming cash call. (*) The bank’s management is set to urge its Italian investors to subscribe the upcoming capital increase to defend the lender from a possible attack from French businessman Denis Dumont and an unspecified U.S. financial group, the MF said. The paper said there is the fear that Dumont and the American group could end up with a stake of between 20-25 percent in the lender if they joined forces. Dumont is already said to hold a 9 percent stake in Creval, it added.

CREDITO EMILIANO

Moody’s downgraded the lender’s long-term deposit ratings, saying the move “reflects Credem’s reduced stock of bail-in-able debt, which results in higher loss-given-failure for the bank’s junior deposits”. The ratings agency affirmed Credem’s standalone BCA rating, citing its “sound credit profile”.

(*) BANCA CARIGE

A British fund has expressed strong interest to participate in Carige’s cash call for a sizeable sum, Corriere della Sera said, without giving more details.

(*) UNICREDIT

The bank said it had signed a binding agreement with Dorotheum for the disposal of its Italian pawncredit business.

BANCA MONTE DEI PASCHI DI SIENA

The Italian Treasury’s stake in the lender stood at 68.247 percent as of Nov. 24 after the bond conversion, a regulatory filing showed.

PIRELLI, BANCA MEDIOLANUM

Italy’s Pirelli will be included in the FTSE MIB blue-chip index from Monday, Dec. 18, replacing Banca Mediolanum, FTSE Russell said in a statement.

FIAT CHRYSLER AUTOMOBILES

Alfa Romeo are returning to Formula One for the first time in 30 years with the century-old Italian marque partnering the Swiss-based Sauber team as title sponsors. (*) The new Jeep Wrangler unveiled Wednesday should meet U.S. CO2 emissions rules into the 2020s, the head of Fiat Chrysler’s Jeep sport utility vehicle brand told Reuters.

ITALMOBILIARE

Italmobiliare has signed an agreement with Accel-KKR to combine unit BravoSolution with Jaggaer to create a strong group in the eprocurement sector. Italmobiliare will hold a stake of 9.5 percent in the combined entity.

EXPERT SYSTEM

Capital increase ends.

MONDO TV

Board meeting to approve new business plan.

MITTEL

The company said 12-month net profit to end-September stood at 31.5 million euros compared with a loss of 4.5 million euros a year ago.

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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