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Italy - Factors to watch on Sept. 26

Published 2018-09-26, 02:50 a/m
Updated 2018-09-26, 02:50 a/m
© Reuters.  Italy - Factors to watch on Sept. 26

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 IT/DIA .

POLITICS

Rome, conference on "The Independent Evaluation of the OECD on the Italian StartUp Act" with Chamber of Deputies Speaker Roberto Fico, Deputy Prime Minister and Labour Minister Luigi Di Maio (0800 GMT).

Rome, 50th edition of "Barcolana" presentation with Cabinet Undersecretary Giancarlo Giorgetti, Friuli-Venezia-Giulia Region Governor Massimiliano Fedriga (1000 GMT).

Rome, Infrastructure and Transport Ministry presents first national day for seismic prevention with Minister Danilo Toninelli (1030 GMT).

Rome, Deputy Prime Minister and Economic Development and Labour Minister Luigi Di Maio attends 'question time' at Chamber of Deputies (1300 GMT).

ECONOMY

Italy's 5-Star leader Luigi Di Maio told ministers on Tuesday that the 2019 budget targets must account for their key demands, including a minimum income for the poor and unemployed, or it would not win the support of his group in parliament. Deputy Prime Minister Luigi Di Maio repeated on Wednesday that a 2019 deficit that exceeded 2 percent of output was not out of the question, but added that the ruling coalition would be responsible with the budget. builders' association Ance presents policies on real estate taxation with Economy Ministry Undersecretary Massimo Garavaglia (0730 GMT).

Rome, trade association Confcommercio holds conference on tax with President Carlo Sangalli, Economy Minister Giovanni Tria (0830 GMT).

DEBT

Treasury sells 6.0 billion euros 6-month BOT bills. Subscriptions close at 0900 GMT.

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COMPANIES

ATLANTIA ATL.MI

The Italian government and Autostrade got into a war of words on Tuesday after Rome published a report blaming the toll road operator for failings in the deadly Genoa bridge collapse. CHRYSLER FCHA.MI

Fiat Chrysler Automobiles NV said on Tuesday that U.S. regulators have received a "wake-up call" from automakers over the hurdles they face in trying to meet rising Obama-era fuel-efficiency requirements. Magneti Marelli COO Pietro Gorlier, who is expected to be appointed head of FCA's EMEA region, will be substituted by Magneti Marelli Automotive Lighting CEO Ermanno Ferrari (NYSE:RACE), Il Corriere della Sera reported.

BANCA CARIGE CRGI.MI

Leading Carige investor Raffaele Mincione has no plans to sell its stake in the Italian bank after failing to gain control of the lender's board last week, a source close to Mincione said. UNICREDIT CRDI.MI

Chief Executive Jean Pierre Mustier will try to push on "external growth" at the end of the bank's current plan, as announced in the lender's first-half results in August and M&A options could include Britain's Lloyd's Bank LLOY.L , Dutch Abn Amro ABNd.AS or ING INGBK.UL , Il Sole 24 Ore reported. It added that UniCredit did not comment rumours and that the goal will be hard to reach, not only because of regulatory hurdles, but also as it would imply convincing institutional investors on the move.

MEDIOBANCA MDBI.MI

Mediobanca shareholder Italmobiliare says to withdraw from the bank's shareholder pact. BANCO BPM BAMI.MI

The lender has decided to split in two the NPL portfolio of its so-called Ace project, worth 9 billion euros, for which it had already short-listed three bidders, Il Messaggero reported. The two portfolios will now consist of one of 8 billion euros, made up of bad loans, and a separate leasing portfolio for 1 billion euros, the report added

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(*) ITALIAN BANKS

Italy's central bank has sent letters to small lenders, which could merge into one of three larger groups being formed in a push to reform the cooperative banking sector, urging them to call shareholder meetings by the first half of December to decide on this move ahead of an end of January deadline, Il Sole 24 Ore reported.

(*) ASTALDI AST.MI

The group, which has a 2.5 billion debt, is ready to evaluate filing a so-called "blank" debt restructuring plan, which will be examined by its board in two days, Il Sole 24 Ore reported. According to the procedure the company will have between 120 and 180 days to decide whether to press ahead with request for court protection from creditors or opt for a negotation, the report added.

(*) TELECOM ITALIA (TIM) TLIT.MI

The sale of TIM's its Sparkle unit has been put on hold and no mandate has been given to banks, as the group needs to clarify the government's intentions over the subsidiary given its strategic role, Il Sole 24 Ore reported.

(*) TENARIS TENR.MI

The group said on Tuesday it would acquire a significant stake in Saudi Steel Pipe company after it acquired from a private group 47.49 percent of shares in the company for $144 million. ENI ENI.MI

International investors in Eni are not alarmed by the decisions and declarations of the Italian government as 95 percent of the group's activities is abroad, CEO Claudio Descalzi said in an interview with Corriere della Sera, adding the company had "constructive and positive relations".

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(*) CATTOLICA ASSICURAZIONE CASS.MI

The insurer signed on Wednesday an agreement to buy a 35 percent stake in IMA Italia Assistance. LDOF.MI

CEO Alessandro Profumo attends conference on "Cybertech Europe" in Rome (0700 GMT).

(*) TOD'S TOD.MI

The Italian luxury group has launched the first collaboration of its 'Factory' project - which entails more collections during the year as well as limited editions with famous designers - with Italy's Alessandro Dell'Acqua, Corriere della Sera and MF reported. "Alessandro is the first of a long series, we want four 'capsule' collections a year," chairman Diego Della Valle was quoted as saying by Corriere della Sera.

ALITALIA CAITLA.UL

Commissioners speak before Chamber of Deputies Industry and Transport committees (1230 GMT).

SPRINTITALY SPRT.MI

Board meeting on FY results.

Board meetings on H1 results: ALFIO BARDOLLA ABTG.MI , ARCHIMEDE ARCHIM.MI , BRIOSCHI SVILUPPO IMMOBILIARE BRUI.MI , DIGITAL360 DIGT.MI , DOMINION HOSTING HOLDING DHH.MI , ESAUTOMOTION ESAU.MI , FRENDY ENERGY FDE.MI , GAMBERO ROSSO GAMB.MI , H-FARM HFARM.MI , ORSERO ORSO.MI , PITECO PITE.MI , PRISMI PRSM.MI , S.M.R.E. SMRR.MI , TELESIA TLSA.MI (1330 GMT).

Ordinary shareholders' meetings: 4AIM SICAF 4AIM.MI (1300 GMT), EQUITA EQUI.MI (1000 GMT).

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