September 6, 2018 / 4:01 AM / 3 months ago

Italy - Factors to watch on Sept. 6

The following factors could affect Italian markets on Thursday.

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

OECD releases July composite leading indicator (1000 GMT). (*) Italy would be moving backwards if it returned to a budget deficit of 3 percent of national output, the European Commissioner for Economic and Financial Affairs was quoted on Thursday as saying, after Rome said it wanted to boost spending.

DEBT

Italy’s Treasury said it would offer to buy back four bonds from investors on Friday, the latest in a string of similar deals it has been carrying out in recent weeks to help stabilise its debt.

COMPANIES

Milan, Milan Stock Exchange ends “Italian Equity Week: Lifestyle, Industrial and Infrastructure” (0700 GMT).

(*) ATLANTIA

A tie-up between Atlantia and Spanish road-toll operator Abertis will proceed as planned, the deputy chairman of Atlantia’s top shareholder told a newspaper, dismissing worries it could be scrapped after a bridge disaster last month.

TELECOM ITALIA

French media conglomerate Vivendi said on Wednesday the management of Telecom Italia, or TIM, had been “disastrous” since activist fund Elliott had seized control of the Italian firm’s board.

BANCA CARIGE

Banca Carige’s biggest shareholder has asked a judge to prevent a rival shareholder in the Italian bank from putting forward a list of candidates for a boardroom overhaul.

Malacalza Investimenti has bought more than 2 billion of Banca Carige shares between Aug. 6 and Aug. 31, a filing showed. The investor bought 187.85 million shares after Aug. 23, when its stake stood at 23.96 percent. Those shares, bought on Aug. 29 and Aug. 31, equaled to a stake of 0.34 percent, Reuters calculations showed.

UNICREDIT, INTESA SANPAOLO, MEDIOBANCA , CREDITO EMILIANO, BANCA NAZIONALE DEL LAVORO

Fitch has revised its outlook on the five banks to ‘negative’ from ‘stable’ following a revision of Italy’s outlook, saying the move reflects its view that “the banks would likely be downgraded if Italy’s rating is downgraded”.

SARAS

Shareholders Massimo Moratti S.A.P.A. and Mobro S.P.A. have completed the placement of 95.1 million ordinary shares in Saras, equal to around 10 percent of the company’s share capital, through an accelerated bookbuilding process to certain institutional investors at 2.O euros per share.

MEDIASET

The broadcaster said in a statement it had bought all shares of Rmc Italia, the publisher of Radio MonteCarlo.

ENI

Egypt said on Wednesday it was “taking all necessary steps” over $2 billion the World Bank ordered it to pay to Italian-Spanish Union Fenosa Gas (UFG) - a joint venture between Spain’s Gas Natural and Italy’s Eni - because of a lack of gas supply to an Egyptian plant in which the company has a majority stake.

SALINI IMPREGILO

The builder said it and partners FCC and AECOM had won a tender for a project to expand the Jorge Chavez International Airport in Lima, Peru.

(*) BUZZI UNICEM

The company said it had signed a deal to buy 50 percent of BCPAR SA to establish a new presence in the Brazilian market.

ISAGRO

Conference call on H1 results (0830 GMT).

EXOR

Board meeting on H1 results.

(*) M&A, ALITALIA

Ferrovie dello Stato is interested in investing in struggling Alitalia once an airline-sector investor has been found to develop the carrier’s long-haul business and synergies with its own business are found, the Italian rail group’s chief executive told a financial daily.

Board meetings on H1 results: BEGHELLI, CALEFFI , DEA CAPITAL, FIDIA (0800 GMT), GRUPPO MUTUIONLINE.

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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