September 24, 2018 / 4:03 AM / in 25 days

Italy - Factors to watch on Sept. 24

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 .

POLITICS

Rome, Cabinet meeting on immigration and new security measures.

Italy’s prime ministerial spokesman has warned that the anti-establishment 5-Star Movement in the coalition government will sack Treasury officials in a “mega-vendetta” unless they find the resources needed for welfare spending.

Italy’s cabinet undersecretary said on Saturday it was difficult for the government to meet all its electoral pledges at the moment and more time was needed to do so.

The Panama Maritime Authority has revoked the registration of search and rescue ship Aquarius 2. SOS Mediterranee said in a statement it was reeling from news of the revocation, which it said followed pressure from the Italian government.

DEBT

Any increase in deficit spending that does not help boost structural economic growth could put Italy’s debt on an unsustainable course, the head of the Bank of Italy said.

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on Sept. 27.

Italy’s Treasury said on Friday it would offer 6 billion euros in six-month bills at an auction on Sept. 26.

BANCA CARIGE

The board of the bank has appointed Fabio Innocenzi as its new CEO, the company said on Friday.

TELECOM ITALIA (TIM)

Board meeting on Monday.

TIM’s board is split on the issue of separation of the network, La Repubblica said on Sunday. The CEO and chairman are not in favour of losing ownership of the network after it is separated, the paper said. The board is expected to discuss the sale of Persidera and the acquisition of Brazil’s Nextel, papers said.

Vivendi has reaffirmed its faith in TIM CEO Amos Genish, several papers said over the weekend, citing a spokesman for the French media group.

FIAT CHRYSLER

Calsonic Kansei has lined up around 5 billion euros ($5.9 billion) in financing from Japanese banks to fund its proposed acquisition of Fiat Chrysler’s unit Magneti Marelli, four sources familiar with the matter said.

LUXOTTICA

Closing of the planned merger between Luxottica and France’s Essilor, first announced almost 2 years ago, is set to be announced next week or at latest the start of October, Il Sole 24 Ore said, noting Leonardo Del Vecchio will have a stake of 31-38 percent in the new group.

UNICREDIT

Italy’s biggest bank said on Friday it had agreed to sell to IFIS NPL a portfolio of bad corporate loans with a gross book value of 870 million euros.

BANCA IFIS

The banking group said on Friday its IFIS NPL unit had bought three portfolios of bad debt from UniCredit, Deutsche Bank and an Italian consumer credit company in September.

Board meetings on H1 results: BIODUE, CSP INTERNATIONAL, ENERTRONICA, KI GROUP, LIFE CARE CAPITAL.

Trade ex-dividend: ENI of 0.42 euro per share as 2018 interim dividend; MASI AGRICOLA of 0.10 euro per share; SESA of 0.60 euro per share.

(*) M&A, VERSACE

The sale of Italian fashion house Versace could be announced “within hours”, daily newspaper Corriere della Sera said on Monday, citing unnamed sources.

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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