October 3, 2018 / 6:48 AM / 21 days ago

Italy - Factors to watch on Oct. 3

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

Italian Deputy Prime Minister Luigi Di Maio confirmed on Tuesday the broad outlines of the government’s 2019 budget, but said some further elements of forthcoming economic plan would be set on Wednesday morning.

Italy’s government is working on a “courageous” budget for 2019 that will include already announced reforms and will aim to lower the ratio between debt and gross domestic product, Prime Minister Giuseppe Conte said on Tuesday. (*) Italy’s government targets for the budget deficit to fall to 2.2 percent of gross domestic product in 2020 and to 2 percent in 2021 from an expected 2.4 percent next year, a government source from the right-wing League party said on Wednesday.

Rome, conference on labour market with Economic Development ministry Undersecretary Claudio Durigon (1230 GMT).

Rome, meeting on project ‘Ex Moi’ with Deputy Prime Minister and Interior Minister Matteo Salvini, Turin Mayor Chiara Appendino, Compagnia di San Paolo President Francesco Profumo (0900 GMT).

Milan, BlackRock holds roadshow “Investment 4 Tomorrow” (1245 GMT).

ECONOMY

Rome, Conference on “Italian Economy and Economic Policy Scenario” with Economy Minister Giovanni Tria (0730 GMT).

Markit/ADACI releases September PMI services (0745 GMT).

ISTAT releases Q2 deficit/Pil ratio data (0800 GMT).

DEBT

Treasury offers maximum 2.5 billion euro 4.75 percent BTP bonds due Sept. 1, 2028 in exchange for followin four BTP bonds: 4.25 percent due Feb. 1, 2019; 0.20 percent due Oct. 1, 2020; 0.65 percent Nov. 1, 2020; 3.75 percent May 1, 2021.

TELECOM ITALIA

Telecom Italia has spent 2.41 billion euros in Italy’s fifth-generation mobile auction in a move expected to raise debt at the former telecom monopolist. (*) Top shareholder Vivendi is concerned about the “total disorgnisation” of the governance following the boardroom coup staged by activist fund Elliott, Il Sole 24 Ore said, citing a spokesman for the French media group. The paper adds the spokesman denied there was a desire to call an immediate shareholder meeting to deal with the matter.

(*) BANKS

A new parliamentary commission to investigate financial misbehaviour in the banking sector will be launched and will last three years, Il Sole 24 Ore said, citing conclusions from the senate’s finance committee.

(*) MEDIASET

Lawyers for Mediaset and Vivendi have started to talk again with a view to reaching a settlement of the two companies’ dispute ahead of the next court hearing in a few weeks, MF said, citing market talk.

FIAT CHRYSLER

Major automakers on Tuesday posted a hefty drop in U.S. new vehicle sales for September, caused in part by a decline in sales in areas hit by Hurricane Florence and a tough comparison to the previous September when consumers rushed to replace vehicles damaged by Hurricane Harvey. Fiat Chrysler bucked the trend for the month, reporting a 15 percent jump in U.S. sales, led by increases in sales of its lucrative Jeeps - especially its Cherokee and Compass models - and Ram pickup trucks.

(*) RECORDATI

The pharmaceutical company has asked a pool of banks, including Intesa Sanpaolo, for financing worth 500 million euros that may be used for a potential acquisition, Il Sole 24 Ore said in an unsourced report.

SNAM

Snam said it had renewed an EMTN programme for up to 10 bln euros.

ASTALDI

Italy’s Consob extends short selling ban on Astaldi shares to Oct 4.

AGATOS

Extraordinary shareholders’ meeting (1200 GMT) and bond holders’ meeting “Convertibile TE Wind S.A. 2013-2018”.

GIGLIO GROUP

Ordinary and extraordinary shareholders’ meetings (0830 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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