September 5, 2018 / 4:04 AM / 20 days ago

Italy - Factors to watch on Sept. 5

The following factors could affect Italian markets on Wednesday.

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

Deputy Prime Minister Matteo Salvini tried to play down investors’ fears on Tuesday that Italy was set to shunt the budget deficit sharply higher, saying planned spending increases and tax cuts would be introduced gradually. (*) In an interview published by Il Sole 24 Ore, Salvini said in particular that tax cuts will be implemented gradually, starting with families or small entrepreneurs. He added that one of the priorities of the government is to watering down a previous pension reform, saying this would be done next year.

He repeated the government would respect all European Union’s fiscal rules, adding the coalition aims to stay in the office for the long run.

Markit/ADACI releases August PMI services (0745 GMT).

COMPANIES

Milan, Milan Stock Exchange continues “Italian Equity Week: Lifestyle, Industrial and Infrastructure” (0800 GMT), ends on Sept. 6. Conference “Industrial and Infrastructure Day” with DBA Group Chairman Francesco De Bettin (1400 GMT).

FIAT CHRYSLER

Top automakers pointed to a small increase in U.S. auto sales in August including another sharp rise in SUV sales, as low unemployment and strong consumer confidence helped mitigate the impact of rising interest rates and fuel prices.

Fiat Chrysler said U.S. sales were up 10 percent to 193,718 vehicles in August, led by Jeep and Ram.

(*) UNICREDIT

It is the right time for France’s SocGen to move quickly towards a tie-up with Italy’s UniCredit, Il Fatto Quotidiano said.

The most urgent dossier for SocGen’s new strategic director is a merger with the Italian lender, MF said citing rumours from France.

(*) ATLANTIA

The rules governing motorway concessions should be revised, Deputy Prime Minister Matteo Salvini said in an interview, adding that he is not against private companies operating concessions. The State should get a high percentage of the toll earned by motorway operators, he added.

(*) SAIPEM

In an interview published by Il Sole 24 Ore on Wednesday, Deputy Prime Minister Matteo Salvini said he is in favour of the Trans Adriatic Pipeline (TAP).

(*) FINCANTIERI

The shipbuilder said on Wednesday that the exit offer for remaining Vard shares was extended to Sept. 19, from Sept. 5.

(*) ITALIAN BANKS

The decree to extend a state guarantee scheme for banks’ bad loan securitisation will be signed by Italy’s Economy Minister in the short term, a Treasury spokesman said on Wednesday.

(*) MONTE DEI PASCHI

The bank has sent invitations to bad loans specialists interested in organising the sale of a 2.5 billion euro portfolio of non-performing loans.

(*) MONDADORI

ReWorld Media is in pole position to buy Mondadori France, Il Sole 24 Ore said, adding talks with the publisher are on the home stretch.

MEDIASET

All free Mediaset channels will also be visible on Sky as part of an agreement between the two broadcasters, Mediaset said in a statement.

BENI STABILI

Extraordinary shareholders’ meeting (0900 GMT).

Board meetings on H1 results: IDEAMI, ISAGRO (1330 GMT), NB AURORA SA SICAF RAIF, TAS GROUP.

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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