October 22, 2018 / 4:01 AM / a month ago

Italy - Factors to watch on Oct. 22

The following factors could affect Italian markets on Monday.

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’s ruling coalition patched up a row over a controversial tax amnesty on Saturday and struck a more conciliatory tone towards EU institutions, saying it wanted to discuss its budget plans with Brussels.

Italy’s government expects the European Commission to decide on Tuesday for the first time ever to ask a member state to revise its draft budget, a government source said on Sunday.

ECONOMY

Italy would never willingly choose to leave the single currency and would drop out only if it were forced to, Italian European Affairs Minister Paolo Savona said on Saturday in a televised speech.

Italy’s Deputy Prime Minister and Five-Star leader Luigi Di Maio said on Sunday he was committed to preserving the country’s membership of the euro zone.

Moody’s on Friday cut Italy’s sovereign debt rating to one notch above junk status because of concerns over government budget plans, but in a move that could calm investor anxiety, it said the outlook was stable.

COMPANIES (*) FIAT CHRYSLER AUTOMOBILES

Japanese car parts maker Calsonic Kansei, owned by U.S. private equity firm KKR, has agreed to buy Fiat Chrysler’s high-tech parts-making unit Magneti Marelli unit for 6.2 billion euros ($7.1 billion), the companies said.

(*) SALINI IMPREGILO

The Italian group has been awarded an urban development contract of around 90 million euros in Switzerland.

(*) IREN

The group will carry on with its strategy of acquisitions in the regions to which it belongs, IREN Chairman Paolo Peveraro said in an interview with Affari & Finanza/la Repubblica on Monday.

(*) BIALETTI

Bialetti Industrie net loss widened to 15.3 million euros in the first half of this year.

BANKS

Italy’s government should not ignore the problems that soaring government bond yields are causing for Italian banks, including possible capital needs, Cabinet Undersecretary Giancarlo Giorgetti said in a newspaper interview on Sunday.

POSTE ITALIANE, INTESA SANPAOLO, UNICREDIT , BANCO POPOLARE, BANCA MEDIOLANUM, MEDIOBANCA

State lender Cassa Depositi e Prestiti could hire Mediobanca as an adviser for the market listing of payments group SIA, Il Messaggero reported on Saturday. An IPO could value SIA at around 3 billion euros and place a 40 percent stake on the market, allowing Poste to exit the company’s capital.

The paper said Poste had hired JPMorgan after the summer to help it buy SIA but a group of banks that hold a combined 18 percent stake in SIA had opposed the plan.

SALVATORE FERRAGAMO

Wanda Ferragamo, the honorary president of the Florentine shoemaker founded by her husband Salvatore, has died at the age of 96, the family said on Friday.

ERG

CEO Luca Bettonte on Saturday said the group’s EBITDA will top 600 million euros in 2022.

PIRELLI

Shareholder Camfin said on Friday it had increased its stake in the tyre maker to 11.37 percent following a decision to buy up to a further 2 percent of Pirelli’s capital. Camfin said it believed that Pirelli’s current share price did not reflect the company’s strong fundamentals and growth potential.

FINCANTIERI

The idea of a share swap between the Italian shipbuilder and Naval Group is no longer on the cards, Saturday’s la Repubblica reported citing a French source. The worsening of the relationship between Italy and France means “the conditions are not there,” the source said.

BUZZI UNICEM

The cement maker expects this year’s recurring EBITDA to be “very similar” to that of the previous year barring any surprises on exchange rates, Il Sole 24 Ore reported on Sunday.

EI TOWERS

Shares in the masts group have been delisted, the company said on Friday. After a successful takeover on the group, 2iTowers will buy shares equivalent to 2.553 percent of the EI Towers’ capital that it does not already own.

DIGITAL MAGICS

CEO Marco Gay attends roundtable discussion on Italian Start-Ups (0800 GMT).

Board meetings on Q3 sales results: LUXOTTICA, GEDI GRUPPO EDITORIALE, SOGEFI.

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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