November 30, 2018 / 5:03 AM / 14 days ago

Italy - Factors to watch on Nov. 30

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 .

POLITICS (*) Italy still has time to avoid EU disciplinary action over its budget plans for next year, two Italian newspapers reported Economy Minister Giovanni Tria as saying. (*) Italy’s Prime Minister Giuseppe Conte and Treasury Minister Giovanni Tria are working on a proposal to cut the 2019 deficit target to reach a deal with the European Union, Il Messaggero daily said on Friday.

European Union governments’ representatives backed on Thursday a disciplinary move against Italy over its debt, an EU official told Reuters, just as signs of compromise were emerging from Rome.

Increased budget spending by Italy will not automatically translate into higher growth and public debt cannot rise indefinitely, French central bank chief Francois Villeroy de Galhau said on Thursday.

Italy’s Salvini says sure a budget deal will be found with EU.

Rome, Deputy Prime Minister and Industry and Labor Minister Luigi Di Maio attends scholarship delivery ceremony “Invest your talent” (1000 GMT).

Verona, Deputy Prime Minister and Industry and Labor Minister Luigi Di Maio attends event “Jobs Orienta” (1500 GMT).

ECONOMY

ISTAT releases October unemployment rate data (0900 GMT); November flash CPI and HICP data (1000 GMT); final Q3 GDP data (1100 GMT).

Reuters releases November asset allocation poll (1200 GMT).

Rome, “Tips Launch” event organised by ECB and Bank of Italy with Bank of Italy Governor Ignazio Visco (1000 GMT).

COMPANIES (*) UNICREDIT

UniCredit sells non performing loan portfolio worth around 675 mln euros. (*) BANCO POPOLARE

The bank has given a mandate to its CEO to complete a deal to sell a non-performing loan portfolio of up to 8.6 billion euros, Il Sole 24 Ore said. An agreement with Credit Agricole over its consumer credit operations is close, it said.

BANCA CARIGE

The bank approves capital plan, sets subordinated loan terms.

The Interbank Deposit Protection Fund (FITD) holds general assembly to approve intervention of the voluntary scheme for Banca Carige.

(*) GENERALI

Leonardo Del Vecchio is looking to increase its stake in the insurer to 5 percent from his current 3.5 percent, Il Sole 24 Ore said, citing the businessman. “Then I’ll stop,” he said, the paper quoted him as saying.

IREN

The city of Genoa, a leading shareholder of Iren, said it had approved a decision giving it the option to increase its stake in the regional utility.

LUXOTTICA

The company will leave the Italian blue chip index on Dec 4 following the merger operation deal to create EssiloLuxottica.

EDISON

News conference to present agreements for its development in midstream with CEO Marc Benayoun (1100 GMT).

INTESA SANPAOLO

News conference to present its digitalization with new channels, apps, digital payment (0903 GMT).

BB BIOTECH

Meeting with analysts (1100 GMT).

ITWAY

Board meeting on Q3 results.

WIIT

Ordinary and extraordinary shareholders’ meetings.

IPO

Italy’s market regulator Consob gave the green light to the publication of the IPO prospectus of Italian Exhibition Group. The IPO price range is 3.7-4.2 euros per share and the offer will run from Nov 28 to Dec 4.

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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