September 18, 2018 / 4:00 AM / 3 months ago

Italy - Factors to watch on Sept. 18

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

Italy’s top ministers met on Monday to discuss the 2019 budget, with friction building inside the coalition over the package and financial markets on edge about the big-spending plans of the government.

La Stampa cites 5 Star leader and deputy premier Luigi Di Maio as saying his Movement’s attempts to introduce a basic income for the poor are being obstructed and if it continues like that economy minister Giovanni Tria will have to go.

ECONOMY

ISTAT releases June and July orders and sales data (0800 GMT).

Milan, “Bloomberg European Capital Markets Forum” with Economy Ministry Giovanni Tria, Deutsche Bank CEO Christian Sewing, Spaxs CEO Corrado Passera, UniCredit Chairman Fabrizio Saccomanni (0630 GMT).

TELECOM ITALIA

The chairman and CEO of Telecom Italia met prime minister Giuseppe Conte on Monday as too did the chairman of wholesale fast broadband group Open Fiber. A source said the TIM managers had spoken on the question of network separation.

FIAT CHRYSLER

Fiat has turned down an offer of around 5 billion euros made by private equity KKR for its Magneti Marelli unit on the grounds the valuation is too low, Il Sole 24 Ore said.

According to Il Corriere della Sera talks with KKR are continuing and a deal of around 6 billion euros could happen.

FERRARI N.V.

“Capital Markets Day” at its headquarters in Maranello.

ENI

A Milan court holds a hearing in the Nigeria corruption trial involving Eni and Royal Dutch Shell.

MEDIOBANCA

The bank is interested in an alliance with French merchant bank Messier Maris, Il Sole 24 Ore said citing Les Echos. Talks are at a preliminary stage.

The paper cites the chairman of Banca Mediolanum Ennio Doris aas saying he will not pull out of Mediobanca’s shareholder pact with a withdrawal window set to close by the end of September.

BANCA MONTE DEI PASCHI DI SIENA,LEONARDO

The bank said on Monday it had cut its credit lines to Leonardo to 310 million euros from 660 million euros because the two groups are controlled by the same shareholder, the Treasury.

(*) BANCA CARIGE

Funds could emerge at the shareholder meeting on Thursday along with other shareholders ready to support the slate of board members proposed by Raffaele Mincione in the hope of an eventual sale of the bank, Il Corriere della Sera said citing rumours.

A2A, ERG

Utility A2A and green energy group ERG are frontrunners to win the Italian solar portfolio being sold by Glennmont and valued at more than 300 million euros, Il Sole 24 Ore said. Tages Capital is also in the race but infrastructure fund F2i has pulled out, the paper said.

RECORDATI

The board could turn down the price of 28 euros offered by CVC Capital Partners in its bid on the pharmaceuticals group.

ANSALDO STS

The company said on Tuesday a consortium it was in had won a contract in the Saudi capital Riyadh worth around $2.9 billion. Ansaldo’s part is worth around $1 billion.

POSTE ITALIANE

CEO Matteo Del Fante speaks before the Chamber of Deputies Transport Committee (1000 GMT).

PRYSMIAN

Board meetings on H1 results, followed by conference call.

BIANCAMANO

Annual general meeting (1000 GMT).

INTRED

Ordinary shareholders’ meeting (0700 GMT).

Board meetings on H1 results: COVER 50, DIGITAL MAGICS (1430 GMT), EQUITA GROUP, INTEK GROUP , KR ENERGY, NET INSURANCE.

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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