October 31, 2019 / 5:01 AM / a month ago

Italy - Factors to watch on Oct. 31

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 .

ECONOMY

ISTAT releases September unemployment rate data (0900 GMT); flash October CPI and HICP data (1000 GMT); flash preliminary Q3 GDP data (1100 GMT).

(*) FIAT CHRYSLER AUTOMOBILES

Fiat Chrysler and Peugeot’s owner PSA said on Thursday they would join forces through a 50-50 share swap to create the world’s fourth-largest automaker.

The boards of the two groups have mandated their respective teams to finalise discussions and reach a binding memorandum of understanding in the coming weeks, the two automakers said in a joint statement.

Board meeting on Q3 results, followed by conference call (1300 GMT).

(*) EXOR

Fiat Chrysler, which is 29% owned by the holding company of Italy’s Agnelli family, will pay out to shareholders a 5.5 billion euro ($6 billion) special dividend and hand them shares in its robot-making unit Comau.

BANCA IFIS

Italian banks and bad loan specialists Banca IFIS and Elliott-owned Credito Fondiario on Wednesday ended talks to set up a debt recovery partnership citing disagreements over governance.

CAMPARI

The beverage group said on Wednesday it had completed the sale of real estate property Villa Les Cedres, part of the assets acquired in the deal to buy Grand Marnier brand, for 200 million euros and would retain 80 million euros.

ATLANTIA, SIAS

Italian toll road operators have warned that a measure in this year’s budget that would limit tax deductions that can be claimed against amortisation costs for infrastructure assets could slow investment and lead to a possible legal challenge.

FINCANTIERI

Italy’s bid to create a European industrial champion in the shipbuilding industry faces hurdles after EU antitrust regulators said Fincantieri’s bid for Chantiers de l’Atlantique would significantly reduce competition.

TENARIS

The group said on Wednesday its sales fell 7% year-on-year in the third quarter to $1.76 billion, reflecting ongoing activity reductions in the U.S. and Argentine shales. Core earnings dropped 18% to $322 million in the period.

Conference call on Q3 results.

(*) ALITALIA

German carrier Lufthansa is ready to invest up to 200 million euros ($223 million) in struggling Italian airline Alitalia, a source close to the matter said on Thursday.

(*) ITALIAN INDEPENDENT

The Italian eyewear company estimates revenue could grow to 42 million euros ($47 million) by 2023.

(*) E.PRICE

Investor Arepo BZ will propose legal action against the Italian e-commerce company’s chief executive and chairman at the November shareholders meeeting.

(*) JUVENTUS

Juventus scraped 2-1 victory over Genoa moving back to the top of Serie A by one point over Inter Milan

(*) AR ROMA

As Roma thumped hapless Udinese 4-0 away in Serie A on Wednesday

(*) LAZIO

Lazio also won 4-0, against Torino, with forward Ciro Immobile scoring twice to take his league tally for the season to 12.

RECORDATI

Board meeting on Q3 results.

BANCA GENERALI

Board meeting on Q3 results.

DIARY

Rome, “95th Savings Day” conference with Economy Minister Roberto Gualtieri, Bank of Italy Governor Ignazio Visco, ACRI President Francesco Profumo (0930 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:............................... ($1 = 0.8959 euros)

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