September 17, 2019 / 4:03 AM / a month ago

Italy - Factors to watch on Sept. 17

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 .

POLITICS

Former Italian Prime Minister Matteo Renzi said he would break away form the ruling Democratic Party (PD) as he sought to set up a new centrist force in the country, but claimed his move would not weaken the new government led by Giuseppe Conte.

ATLANTIA

The long-standing head of Italian infrastructure group Atlantia Giovanni Castellucci is ready to step down as a probe into a deadly bridge collapse snowballs, prompting its top shareholder, the Benetton family, to pull support, sources said on Monday. (*) Castellucci’s powers could be temporary assigned to an executive committee, Il Sole 24 Ore said. Some managers of the group could take on the chief executive role on an interim basis, La Repubblica said citing sources close to Benetton family. According to Il Messaggero, Gianni Mion, the Chairman of the controlling Benetton holding Edizione, will temporarily replace Castellucci at the helm of Atlantia. (*) Castellucci’s eventual resignation could affect relationships between Atlantia and its partners in the Spanish infrastructure group Abertis, Il Sole 24 ore said.

(*) INTESA SANPAOLO

Italy’s biggest retail bank could join a group of local investors led by state lender CDP planning to buy the Italian government bond trading platform MTS, controlled by London Stock Exchange Group, MF said.

CNH INDUSTRIAL

U.S. activist fund Elliott Management Corp has built a stake in the Italian-American truck and tractor maker, Bloomberg reported on Monday.

(*) MEDIASET

Hostile French shareholder Vivendi does not plan to exercise its withdrawal rights on its stake in the Italian broadcaster, Il Sole 24 Ore said. However the report added that Vivendi was preparing a new legal battle against the decision of Mediaset’s shareholders to approve a plan to create a pan-European media group under a new Dutch holding.

(*) BANCA MONTE DEI PASCHI DI SIENA

The Italian lender is ready to sell real estate assets worth 300 million euros and received non-binding offers, Il Sole 24 Ore said, adding that binding offers were expected by early October. Apollo, Varde Partners, Blackstone, Cerberus, Starwood, Bain Capital, Oaktree, Lonestar are among the bidders, Il Sole said.

ALITALIA (not listed)

Italy’s industry ministry said on Monday it had postponed a deadline to present a rescue plan for Alitalia to Oct. 15, with sources saying the rescuers were at odds on key aspects of the proposal for the loss-making carrier.

STEFANEL

A court has approved the company’s admission to a Chapter 11-like extraordinary administration process aimed at restructuring the group.

ITALMOBILIARE

The Italian bourse approved the trading of Italmobiliare shares, listed on the main MTA market, on the Star segment as of Sept. 24.

DIARY

Milan, ECB banking supervision chief Andrea Enria attends forum (1100 GMT).

Milan, European Commission representative Marco Buti attends conference “European Union and Italy between past, present and future” (1330).

Rome, Intesa Sanpaolo Chairman Gian Maria Gros-Pietro attends a book presentation (1630 GMT).

Milan, Moncler CEO Remo Ruffini attends conference (1530 GMT).

Milan, “Milano Moda Donna Spring/Summer 2020” fashion shows start; end on Sept. 23.

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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