October 24, 2019 / 4:02 AM / 25 days ago

Italy - Factors to watch on Oct. 24

The following factors could affect Italian markets on Thursday.

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 .

DEBT

U.S. investment firm PIMCO has moved to a slightly overweight position on Italian government bonds because it believes they have room to outperform German Bunds, a sovereign debt analyst at the asset manager was quoted as saying.

Italy raised 6.75 billion euros ($7.5 billion) with its latest inflation-linked bond aimed at small savers, meeting stronger demand compared with a year ago, when the previous issue flopped amid political turmoil.

Treasury announces sale of six-month BOT bills, with relative amounts to be auctioned on Oct. 29.

(*) TELECOM ITALIA (TIM)

The Italian phone group has no room to propose to shareholders the approval of the conversion of saving shares in ordinary shares by year-end, Il Sole 24 Ore wrote on Thursday.

(*) BANCO BPM

Fondazione CRT has raised its stake in the Italian bank to 1.5% from 1.1% and could increase it further, Il Messaggero wrote. CRT backs Banco BPM Chief Executive Giuseppe Castagna, whose mandate comes up for renewal in the spring, and shares his view that there is no rush for a merger and the bank should focus on delivering profitability and dividends, the newspaper added.

SAIPEM

The Italian oil services group on Thursday reported a 26% jump in third-quarter core earnings to beat expectations, buoyed by a strong order book.

Saipem will hold a conference call with analysts (0700 GMT) and with journalists (0900 GMT).

UNICREDIT

Credit agency Moody’s has affirmed bank’s ratings saying the lender could withstand a weaker operating environment in its core German market.

ATLANTIA

Credit agency Moody’s has extended its review for a possible rating downgrade of the Italian infrastructure group and its Autostrade per l’Italia and Aeroporti di Roma units due to persisting uncertainty on the group’s motorway concession following the collapse of a bridge in Genoa last year.

STMICROELECTRONICS

The French-Italian chipmaker reported a drop in third-quarter operating income to $336 million from $398 million a year ago but estimated a rise in fourth-quarter revenues of 5%.

The company will hold a conference call (0730 GMT).

SALINI IMPREGILO

The CEO of Italy’s biggest builder said on Wednesday contracts won or being finalised in the first nine months of the year exceeded 6.9 billion euros, more than double the amount in the same period of last year.

For the whole of 2019 potential orders could exceed 20 billion euros, CEO Pietro Salini told investors in London.

(*) BREMBO

Brembo’s distinctive coloured brakes stop many of the world’s fastest cars but when it comes to the electric vehicles of the future it faces a problem - traditional brakes are noisy.

ASTM, SIAS

The Italian motorway operators said on Wednesday they have signed an agreement with Mattioda Group to buy its stakes in the motorway license companies ATIVA and SITAF for a total of 102.5 million euros.

(*) BIO-ON

Shares in the Italian company were suspended indefinitely from trading on Thursday after its chief was arrested the previous day in a probe into false accounting and market manipulation, just three months after the bio-plastics maker suffered an attack by a short seller fund that erased 80% of its value.

ALITALIA

Italy’s industry ministry has extended to Nov. 21 the deadline to present a binding bid for troubled carrier, it said on Wednesday.

(*) The Italian carrier could have 5,000 redundancies without a cash injection of at least 2.5 billion euros, MF reported.

MEDIOBANCA

Releases on Q1 results, followed by conference call (1200 GMT).

ENI

Board meeting on Q3 results (press release on Oct. 25).

MONCLER

Releases Q3 results, followed by conference call (1645 GMT).

MAIRE TECNIMONT

Board meeting on Q3 results.

JUVENTUS

Ordinary and extraordinary shareholders’ meetings (0800 GMT).

CASTA DIVA GROUP

Ends capital increase.

NEWLAT FOOD

Italian food group Newlat Food IPO ends.

VISIBILIA EDITORE

Ends capital increase.

DIARY

Verona, XII economic eurasiatic forum “Business Connecting Eurasia Dialogue - From the Atlantic to the Pacific” starts (0700 GMT); ends on Oct. 25. Expected attendees include Italian state broadcaster RAI Chairman Marcello Foa, Rosneft Chairman and CEO Igor Sechin, Banca Intesa Russian unit Chairman Antonio Fallico, Eni Chairwoman Emma Marcegaglia, European Commission representative Mattia Pellegrini, Russian industrialists body President Aleksandre Shokhin, Gazprom Management Committee Deputy Chairwoman Elena Burmistrova, Alstom Russian unit Chairman Philippe Pegorier, Turin Mayor Chiara Appendino.

Rome, Education Ministry and Telecom Italia (TIM) hold news conference to present project to drive school digitalisation, with Education Minister Lorenzo Fioramonti, TIM CEO Luigi Gubitosi (1330 GMT).

Modena, BPER Banca CEO Alessandro Vandelli attends conference on “Transformation Capital: from Private Equity to Positive Equity” (0730 GMT).

Rome, A2A CEO Valerio Camerano attends event on “The new frontier for companies” (0730 GMT).

Milan, Saipem Chairman Francesco Caio attends “Cogito AI Day” (0730 GMT).

Milan, Iren holds annual forum with Chairman Renato Boero, CEO Massimiliano Bianco (0800 GMT).

Milan, Coima RES holds annual institutional forum, CEO Manfredi Catella delivers opening and closing remarks (0800 GMT).

Rome, Huawei holds inauguration ceremony of new offices with Italian unit CEO Thomas Miao (0900 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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