November 7, 2018 / 5:01 AM / 14 days ago

Italy - Factors to watch on Nov. 7

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 (*) The government meets to discuss about the budget and the measures on security, some Italian newspapers reported.

Rome, Chamber of Deputies holds ‘question time’ with Prime Minister Giuseppe Conte (1400 GMT).

Rome, Cabinet Undersecretary Giancarlo Giorgetti gives speech at Foreign Press Association (1400 GMT).

Rome, Tax Agency Director Antonino Maggiore speaks before Chamber of Deputies Finance Committee (1330 GMT).

ECONOMY

ISTAT releases September retail sales data (0900 GMT) and monthly bulletin on the state of the economy in October (1000 GMT).

DEBT

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on Nov. 12.

ENEL

The Italian utility played down talk it was interested in buying Colombian distributor Electricaribe though it cited acquisitions as one of the reasons for raising its 2018 debt guidance.

INTESA SANPAOLO

Italy’s top retail bank Intesa Sanpaolo ISP.MI stuck to full-year profit and dividend goals after topping expectations with its third-quarter net income and keeping its core capital intact despite Italy’s sovereign debt problems.

(*) SNAM

Italian gas group Snam hiked earnings and dividend targets in its new plan and said it would invest 5.7 billion euros ($6.5 billion) to 2022.

The group said 9-mth adjusted net profit rose 5 percent to 793 million euros.

(*) UBI BANCA

The lender said on Wednesday its net profit came in at 1.6 million euros in the third quarter.

(*) UNICREDIT

The bank aims to sell two portfolios of soured loans by the end of this month, Il Sole 24 Ore reported, adding one portfolio is worth 750 million euros and the second 600 million euros.

(*) PARMALAT

Kraft Heinz Co said on Tuesday it would sell its Canadian natural cheese business to Italian dairy group Parmalat SpA PLT.MI in a deal valued at C$1.62 billion ($1.23 billion) as the tater tots maker looks to pay down its debt load.

(*) TELECOM ITALIA

The group’s board could discuss on Thursday about a possible writedown of all its assets, starting with the fixed line network, La Repubblica said, adding it would also consider selling some assets, including Sparkle and Persidera units.

Top investor Vivendi could ask to increase TIM’s board members to 19 from 15 to get more seats in the board, La Repubblica said, adding however the shareholder meeting would only be held at the beginning of next year.

BRUNELLO CUCINELLI

The Italian luxury brand, known globally for its cashmere designs, posted 9 month revenues of 422,1 million euros, up 8.3 percent. The company stuck to a forecast of a further double-digit growth for next year. The CEO said they have no evidence of an economic slowdown in China.

ARCELORMITTAL

Italian unit CEO Matthieu Jehl holds news conference to present industrial and environmental plans in Taranto (1100 GMT).

INWIT

Net profits at the Italian tower company stood at 105.7 million euros in the first nine months of 2018, up from 91.8 million euros a year ago.

ITALIAONLINE

Net profits fell to 3.8 million euros in the first nine months of 2018 form 8.0 million euros a year ago.

AEROPORTO DI BOLOGNA

The airport operator reported 747,354 passenger in October, up 4.6 percent year on year.

ENAV

Chairman Roberto Scaramella has informed the board of the Italian air traffic controller of his intention to leave his position, in order to pursue other professional challenges.

WIND TRE

Mobile operator releases Q3 results, followed by conference call (1300 GMT).

GAROFALO HEALTHCARE

The healthcare group set an initial public offering price of 3.34 euros, adding demand was three times offer.

Board meetings on Q3 results: ASSICURAZIONI GENERALI (press release on Nov. 8), BANCA MEDIOLANUM (0900 GMT) followed by conference call (1500 GMT), BANCO BPM followed by conference call (1730 GMT), BREMBO (0830 GMT), BUZZI UNICEM, CNH INDUSTRIAL followed by conference call (1430 GMT), DIASORIN , POSTE ITALIANE (press release on Nov. 8), UNICREDIT (press release on Nov. 8), BANCA FARMAFACTORING followed by conference call, BANCO DI SARDEGNA, CULTI MILANO, IGD, INTERPUMP GROUP, IREN followed by conference call (1600 GMT), MAIRE TECNIMONT, TOD’S (sales), VALSOIA.

Ordinary and extraordinary shareholders’ meetings: K.R. ENERGY (1000 GMT), TECNOINVESTIMENTI (1030 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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