November 5, 2019 / 5:03 AM / 15 days ago

Italy - Factors to watch on Nov. 5

The following factors could affect Italian markets on Tuesday.

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

ArcelorMittal said on Monday it was withdrawing from a deal to buy struggling Italian steelmaker Ilva after Rome reneged on a promise to give it immunity from prosecution over its heavily polluting plant.

ECONOMY

Italy’s state sector budget posted a 2.5 billion euro surplus in October compared to a 4 billion euro deficit in the same month of 2018, due to deferred payments of certain taxes, the Treasury said.

ISTAT releases monthly bulletin on the state of the economy in October (0900 GMT).

COMPANIES

(*) The Italian stock exchange is considering introducing measures to improve the transparency of its less-regulated Aim segment after the Bio-on scandal, Ceo Raffaele Jerusalmi said in an interview with La Stampa.

FIAT CHRYSLER

Moody’s changed its outlook on Fiat Chrysler’s ratings to positive; affirmed ratings.

Sales of new cars rose 6.67% in the month of October from a year earlier, despite a slight fall in sales of Italy’s biggest carmaker Fiat Chrysler, continuing the trend seen the previous month, Transport Ministry data showed on Monday.

(*) MEDIOBANCA, GENERALI

Italian eyewear billionaire Leonardo Del Vecchio, who recently became the second shareholder of Mediobanca, aims to strengthen the Italian presence in the shareholder structure of the merchant bank and of its most prized asset, Italian insurer Generali, Repubblica said. He will take time to ask ECB approval to raise its stake above 10% because he is working on a “large” dossier which includes commitments to recapitalise Mediobanca to support possible M&A activity by Generali, the newspaper added.

INTESA SANPAOLO

The bank, as part of a consortium with a series of Italian businesses, has presented an expression of interest in Italian companies Ferrarini and Vismara to keep both afloat.

(*) ALITALIA, ATLANTIA

Italy’s state railways firm Ferrovie and infrastructure group Atlantia aim to negotiate with U.S. Delta Air Line and German Lufthansa simultaneously to get the most advantageous rescue plan, Il Messaggero said.

(*) CATTOLICA ASSICURAZIONI

A representative of U.S. investor Warren Buffett, who owns about 9% of the Italian insurance group, sent an email to the company’s Managing Director to express his disappointment at the decision of the board to remove Alberto Minali from the role of CEO, Il Sole 24 Ore said.

(*) IMA

The Italian maker of automatic packaging machines confirms revenue and profit targets for this year and its longer-term growth guidance, CEO Alberto Vacchi said in an interview with Il Sole 24 Ore.

(*) BANCO BPM

Banco BPM is working on a new business plan which should be ready by Dec. 15 and which would be approved by the board by the first quarter of next year, focusing on its commercial network, MF said.

AZIMUT

Board meeting on Q3 results.

FINECOBANK

Board meeting on Q3 results.

INTESA SANPAOLO

Board meeting on Q3 results, followed by conference call (1400 GMT).

INWIT

Board meeting on Q3 results, followed by conference call (1700 GMT).

PIAGGIO

News conference on the Group 2020 news and advances with Chairman and CEO Roberto Colaninno (1150 GMT).

POSTE ITALIANE

Board meeting on Q3 results (press release on Nov. 6).

DIARY

Milan, Prime Minister Giuseppe Conte attends Politecnico University 157th academic year inauguration ceremony (0900 GMT).

Milan, Prime Minister Giuseppe Conte attends Human Technopole Foundation inauguration ceremony (1100 GMT).

Rome, Economy Minister Roberto Gualtieri speaks before Chamber of Deputies Finace Committee on tax decree (1200 GMT).

Rome, Italian President Sergio Mattarella speaks before Senate Foreign Affairs Committee on Italian missions in Azerbaijan and China (1330 GMT).

Rome, Prime Minister Giuseppe Conte speaks before Chamber of Deputies (1800 GMT).

Rome, State lender Cassa Depositi e Prestiti holds shareholders’ meeting.

Rome, Education Minister Lorenzo Fioramonti speaks before Senate and Chamber of Deputies Education committees (1100 GMT).

Milan, EY holds news conference to present ninth edition of survey “The luxury and cosmetics financial factbox 2019” (1100 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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