October 15, 2019 / 6:14 AM / a month ago

Italy - Factors to watch on Oct. 15

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 .

ECONOMY

Bank of Italy releases August data on public finances, state borrowing and debt.

BANKS

Italy is considering reducing the amount of loan losses that banks can deduct from their taxable income next year, two sources close to the matter told Reuters on Monday, as it looks for ways to finance an expansionary 2020 budget.

ALITALIA, ATLANTIA

Deadline for state railways Ferrovie dello Stato and potential partners, including infrastructure group Atlantia, to present binding and final offer for Alitalia.

Alitalia is set to win a temporary lifeline on Tuesday, when its latest rescue deadline expires, with Atlantia expected to give a conditional green light to hundreds of millions of euros of investment, according to two people close to the situation. (*) Ferrovie and Atlantia are in a position to present a binding though conditional offer for Alitalia on Tuesday, Il Messaggero said, adding it would take “a few weeks” to set details on price and industrial plan. (*) Lufthansa will make public its final decision on its possible involvement in Alitalia in the coming days, Il Corriere della Sera said citing two sources, but added they did not think the German carrier would invest fresh money in it.

MEDIASET

France’s Vivendi has dropped summary proceedings filed in an Amsterdam court against a Mediaset plan to merge its Italian and Spanish businesses into a new Dutch holding company, two sources close to the matter said on Monday.

(*) GEDI, CIR

Carlo De Benedetti plans a two-stage operation to relaunch publisher GEDI by “heavily” investing in digital, the veteran Italian businessman said in an interview with daily Corriere della Sera published on Tuesday.

DOVALUE

Italy’s biggest loan recovery specialist said on Monday it had agreed with Greece’s Alpha Bank to manage a gross 4.3 billion euro portfolio of non-performing loans and real estate assets in Cyprus.

CREDITO EMILIANO

Fitch on Monday assigned an expected BBB rating to the bank’s planned issue of senior non-preferred debt.

(*) IMA

The packaging machine producer has long term growth potential as it has diversified into “sustainable” industries, Chief Executive Alberto Vacchi said in an interview with daily La Repubblica. He indicated the group could look for partnerships. “Clearly, if you don’t want to get debts, you must look for partners and make big alliances,” he added.

IPO-FERRETTI

Italian luxury yacht maker Ferretti cut an indicative price range for its initial public offering (IPO) to 2-2.5 euros per share, a source said on Monday, from an initial level of 2.5-3.7 euros that valued the company at up to 1.076 billion euros.

Ferretti IPO ends.

(*) FRIULCHEM

The company said it would launch and distribute human-use antibiotics in South Africa from the end of first half of 2020, with an annual contribution to its turnover of about 2 million euros.

DIARY

Rome, Prime Minister Giuseppe Conte and Industry Minister Stefano Patuanelli meet with Whirlpool top management (0700).

Rome, Prime Minister Giuseppe Conte attends presentation of CNR’s report on research and innovation in Italy (0800).

Rome, Foreign Affairs Minister Luigi Di Maio speaks before Chamber of Deputies on Syria (0800 GMT).

Rome, Chamber of Deputies Speaker Roberto Fico meets state lender CDP Chief Executive Fabrizio Palermo (0930 GMT).

Rome, Industry Minister Stefano Patuanelli at parliamentary committee hearing (1000 GMT).

Verona, “NPL & UTP” conference with ECB representative Giulio Del Prete, Bank of Italy representative Piergiuseppe D’Innocenzo (0700 GMT).

Milan, Intesa Sanpaolo Chariman Gian Maria Gross Pietro opens conference (0800-1400 GMT).

Milan, “Business Excellence Award” with Bank of Italy former Director General Salvatore Rossi (1500 GMT); round-table discussion with Enel Chairwoman Patrizia Grieco, Assicurazioni Generali Chairman Gabriele Galateri di Genola (1530 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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