September 23, 2019 / 4:01 AM / a month ago

Italy - Factors to watch on Sept. 23

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 .

DEBT

Treasury announces sale of six-month BOT bills, with relative amounts to be auctioned on Sept. 26.

COMPANIES

FTSE Indexes quarterly revision effective as of today.

MEDIOBANCA

After acquiring a 7% stake in the Milanese merchant bank, billionaire Leonardo Del Vecchio may seek to change the rules for the appointment of its CEO, Il Sole 24 Ore and Milano Finanza reported on Saturday.

Del Vecchio could put forward a request at the Oct. 28 AGM to call an EGM to amend a requirement in the bank’s bylaws where that the CEO is chosen among the three employee-directors who have held an executive role for at least three years, Il Sole said.

Il Sole also mentioned rumours about a possible investment in Mediobanca by the Caltagirone group while Milano Finanza reported Del Vecchio could increase its stake in the bank to as much as 10%.

MEDIASET

Vivendi VIV.PA is taking steps to widen its legal battle against Mediaset beyond Italy, in a move that indicates the French media group has not liquidated its stake in the Italian broadcaster, two sources close to the matter said.

ATLANTIA

Credit rating agency S&P downgraded the Italian infrastructure group’s long term-rating to ‘BBB-‘ on Friday, citing increased legal and regulatory risks following an escalation in a probe over falsified road security reports.

Moody’s said on Friday it continued to review Atlantia’s ratings for a possible downgrade adding it saw no immediate impact on the group’s credit profile from the departure of its CEO and other recent negative developments.

The Benetton family does not want to sell its stake in the infrastructure group, a source close to the matter said on Saturday after la Repubblica daily reported rumours about potential interest for Atlantia from a group of investors.

(*) The infrastructure group must revise its structure, improving internal checks and processes, the chairman of Atlantia’s holding company Edizione told L’Economia on Monday. The paper said the group would push ahead with plans to bring in outside investors in the various unit, with Aeroporti di Roma next in line once the sale of a stake in Telepass is completed. An investment in motorway unit Autostrade, however, will take much longer time given legal and regulatory uncertainty.

BANCA CARIGE (shares suspended)

Shareholders in the troubled Italian bank on Friday approved a 700 million euro ($771 million) cash call, relinquishing control of the lender to save it from liquidation after years of losses.

ITALIAN BANKS

Bank of Italy Deputy Governor Fabio Panetta on Saturday called for mergers among lenders in southern Italy to reach economies of scale and boost diversification.

JUVENTUS

The Italian soccer club aim to raise up to 300 million euros via a capital increase, after posting a 40 million euro loss in the financial year to June 30 and saying it expects another loss-making financial year. Top shareholder EXOR, the holding company of the Agnelli family, has committed to buy into the capital increase pro-quota, Juventus said. (*) The Italian champions beat Hellas Verona 2-1 at the Juventus Stadium on Saturday.

UNICREDIT

The Italian bank announced on Friday the appointment of Cesare Bisoni as chairman until the end of the current board’s mandate in April 2021.

SNAM, IREN

The gas infrastructure group signed an agreement with Iren to buy its 49.07% of Offshore LNG Toscana (OLT) which manages the offshore regasification terminal located about 22 km off the Tuscan coast between Livorno and Pisa, the two companies said on Friday. Snam will pay 345 million euros at the closing of the transaction with its own funds.

LEONARDO, FINCANTIERI

The chief executive of the Italian defence group on Friday dismissed the idea of a potential tie-up with shipbuilder Fincantieri recently floated by former Prime Minister Matteo Renzi.

(*) AS ROMA

The Giallorossi beat Bologna 2-1 on Sunday.

(*) LAZIO

The Rome-based club beat Parma 2-0 at the Olimpico on Sunday.

ENEL

The group still expects this year an ordinary EBITDA of around 17.4 billion euros net of the impact from the IFRS16 accounting rule, Il Sole wrote on Sunday in its Letter to the investor.

FERRARI

Sebastian Vettel took his first win in more than a year by leading a Ferrari one-two at the Singapore Grand Prix on Sunday, while Lewis Hamilton finished fourth but stretched his championship lead to 65 points.

ALITALIA

Delta Air Lines should consider increasing its planned investment in the rescue of Alitalia, Italian Prime Minister Giuseppe Conte said on Saturday as talks over the relaunch of the Italian flagship carrier drag on.

Trade ex-dividend: ENI of 0.43 euro per share as 2019 interim dividend; PIAGGIO of 0.055 euro per share as 2019 interim dividend; SESA of 0.63 euro per share.

DIARY

Milan, “Italian Energy Summit” starts (0715 GMT); ends on Sept. 24. Expected attendees include European Commission representative Claudia Canevari, Enel CEO Francesco Starace, Eni CEO Claudio Descalzi.

Milan, “Milano Moda Donna Spring/Summer 2020” fashion shows end.

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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