September 17, 2018 / 4:01 AM / a month ago

Italy - Factors to watch on Sept. 17

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 .

ECONOMY

ISTAT releases July foreign trade data (0800 GMT).

ECONOMY AND POLITICS

(*) Italian Prime Minister Giuseppe Conte, Deputy Prime Ministers Luigi Di Maio and Matteo Salvini and Economy Minister Giuseppe Tria meet in Rome on Monday to discuss the 2019 budget in an effort “to start pinning down some numbers”, Corriere della Sera reported.

The government is considering tax breaks for small Italian investors who buy domestic government bonds and keep them to maturity, Il Sole 24 Ore reported on Saturday. The goal is to have households buy 20 percent of Italy’s annual debt issuance, Infrastructure Undersecretary Armando Siri told the newspaper. La Repubblica said on Sunday that it was unclear whether Italy’s Finance Minister Giovanni Tria was in favour of this measure.

A flat tax on personal income will be postponed to 2020, Finance Undersecretary Massimo Bitonci was quoted as saying by la Repubblica daily on Sunday.

Only taxpayers who owe up to 1 million euros to Italy’s tax agency will be eligible for a tax amnesty under discussion in Italy, Bitonci told Corriere della Sera on Sunday.

FIAT CHRYSLER

Fiat is weighs new approaches for its Magneti Marelli car parts unit after the carmaker received a low offer from KKR , Bloomberg reported on Sunday.

There is room to reach an accord with KKR over Magneti Marelli in the next few days despite the fact that KKR is now offering less than 5 billion euros for the unit, Il Sole 24 Ore reported on Sunday.

Pietro Gorlier, CEO of Magneti Marelli CEO, could become FCA’s new head of EMEA, Il Sole said.

FERRARI

In presenting a new business plan this week, newly appointed CEO Louis Camilleri will confirm a previous target to increase the company’s core profit to 2 billion euros by 2022, Il Sole 24 Ore said on Sunday. The production of sports cars will rise by 20 percent to 12,000 units by 2022, it said.

POSTE ITALIANE, ALITALIA

The government is studying a plan under which Poste Italiane and state-owned railway group Ferrovie dello Stato would buy struggling carrier Alitalia to prepare it to a partnership with a rival, Il Corriere della Sera said on Sunday.

BANCA CARIGE

An Italian judge will decide over top investor Malacalza’s request to freeze the voting rights of three rival shareholders headed by Raffaele Mincione just before a Sept. 20 shareholder meeting, several newspapers reported on Sunday.

Il Messaggero said on Saturday Mincione would present a legal complaint on Monday asking a court to allow him and his partners to exercise their voting rights over 15.2 percent of the bank’s capital at the Sept. 20 meeting.

(*) TAMBURI INVESTMENT PARTNERS

Giovanni Tamburi told la Repubblica Affari&Finanza on Monday that a plan to list high-end food retailer Eataly in 2019 had not changed.

ATLANTIA

Italy’s Prime Minister Giuseppe Conte repeated on Friday that the government would pursue the revocation of Autostrade’s motorway concession. He added the government does not want Autostrade to have a role in the reconstruction of Genoa bridge.

A general reduction in the cables of the stays of Genoa collapsed bridge did not, in anyway, affect the safety of the infrastructure, Autostrade per l’Italia said on Saturday citing official documents and responding to a media report.

The CEO of state-controlled Anas told la Repubblica on Sunday the group was ready to operate more motorways in the country.

TELECOM ITALIA

CFO Piergiorgio Peluso could leave the company, MF said on Saturday, reiterating that former Fiat Chrysler top executive Alfredo Altavilla could replace the phone group’s current CEO next year.

(*) MEDIASET

League leader Matteo Salvini has provided reassurances to Silvio Berlusconi at a weekend meeting about the fact that the government does not plan to cap television advertisements contrary to comments by Junior Minister Vito Crimi, several newspapers reported.

TREVI GROUP

Italy’s Trevi Finanziaria Industriale SpA has informed Bain Capital Credit of its decision to reject the binding offer it put forward to rescue the ailing engineering firm.

The group is working now at a plan stand-alone which envisages a capital increase. This plan will be presented at a board meeting to be held by end-September.

CREVAL

A group of institutional investors said on Friday it had presented a slate of candidates to represent minority shareholders in the bank’s board. Shareholders in the bank will vote on the appointment of a new board at a meeting on Oct. 12.

MITTEL

The company’s board said on Friday it considered “not fair” the price offered in a takeover by Progetto Co-Val.

STMICROELECTRONICS

Trades ex-dividend of 0.06 US dollars per ordinary share as quarterly dividend.

RETELIT

Investor Fiber 4.0 has increased its stake in the group to 12.82 percent, it said in a statement on Saturday.

Board meetings on H1 results: GABELLI VALUE FOR ITALY , NOTORIOUS PICTURES.

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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