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Italy - Factors to watch on Sept. 19

Thu, 19th Sep 2019 05:00

The following factors could affect Italian markets on Thursday.

Reuters has not verified the newspaper reports, and cannotvouch for their accuracy. New items are marked with (*).

For a complete list of diary events in Italy please click on.

POLITICS

Italy's new government expects the economy to expand by onlyabout 0.4% next year after eking out 0.1% growth this year,three sources close to the matter told Reuters, underscoring theneed for an expansionary 2020 budget.

The Italian government plans to cut tax expendituressubsidising environmentally harmful activities by 10% each yearstarting in 2020, according to a draft emergency decree seen byReuters on Wednesday.

Rome, Prime Minister Giuseppe Conte (1100 GMT) and Chamberof Deputies speaker Roberto Fico (1510 GMT) receive GermanPresident Frank-Walter Steinmeier.

Rome, Cabinet meeting on tourism and cybersecurity lawdecrees.

COMPANIES(*) TELECOM ITALIA

Brazilian telecommunications firm Oi SA is intalks with Spain's Telefonica SA and Italy's TelecomItalia to sell its mobile network to avoid insolvency, fivepeople with knowledge of the matter said.

(*) MEDIOBANCA

Italian billionaire Leonardo Del Vecchio could increase itsstake in the Italian investment house after buying a stake ofalmost 7%, according to La Repubblica and Corriere della Sera.

(*) UNICREDIT

Deputy Chairman Cesare Bisoni, who became intermi chairmanafter the sudden death of Fabrizio Saccomanni, is expected to beconfirmed in this role at a board meeting scheduled on Friday,two Italian newspapers reported.

(*) INTESA SANPAOLO

Italy's biggest retail lender aims to become the country'sfourth largest insurer in non-life business, the head of bank'sinsurance unit Nicola Maria Fioravanti told Il Sole 24 Ore.

(*) ALITALIA

The cash in the carrier's coffers fell to 360 million eurosat the end of August, Alitalia administrator Stefano Palearisaid during a meeting with the industry minister on Wednesdayaccording to several newspapers.

ATLANTIA

The group's maintenance unit SPEA Engineering said its boardappointed Guglielmo Bove chief executive after the previousmanager resigned following the arrests of two employees in aprobe over falsified road security reports. The company movedall the employees engulfed in the probe to different jobs.

ENI

Board meeting to approve 2019 interim dividend.

CARIGE (shares suspended from trading)

Italian troubled lender said on Wednesday that events afterJune 30 did not affect the adequacy of a 900 million euro ($993million) cash call envisaged by its rescue plan.

The Genoa-based bank added it would book a 81 million euroloss from the planned sale of almost all of its impaired loansto Italy's state-backed bad bank SGA.(*) Carige's investor Raffaele Mincione will vote in favour of arescue plan at a shareholder meeting on Friday, he told Il Sole24 Ore, adding he did not intend to buy into the rights issue.

B.F.HOLDING

The Italian agriculture holding said on Wednesday itexpected to book a net profit in 2019 and could pay a dividend.

IPO

Italian motor yacht maker Sanlorenzo aims to list on theMilan Stock Exchange at about the same time as the rivalFerretti Group, with an initial public offering (IPO) expectedto be launched as early as the second half of October, twopeople familiar with the matter said on Wednesday.

DIARY

Rome, Prime Minister Giuseppe Conte interviewed at "Unica,Labor Day" (1630 GMT); Education, Sport and Youth PoliciesMinister Vincenzo Spadafora attends (1900 GMT).

Rome, news conference on stipulation of convention amongINPS, INL, Confindustria, CGIL, CISL, UIL with INPS PresidentPasquale Tridico, trade unions general secretaies MaurizioLandini for CGIL, Anna Maria Furlan for CISL, Carmelo Barbagallofor UIL, Labor Minister Nunzia Catalfo (0730 GMT).

Turin, Intesa Sanpaolo holds conference on "Thespread of insurance culture in Italy and the impact oftechnological innovation" with Chairman Gian Maria Gros-Pietro,Turin Mayor Chiara Appendino, IVASS President and Bank of ItalyDirector General Fabio Panetta, insurers' association ANIAPresident and Poste Italiane Chairwoman Maria BiancaFarina; Intesa Sanpaolo CEO Carlo Messina delivers closingaddress (0900 GMT).

Turin, Terna CEO Luigi Ferraris and FCAEMEA COO Pietro Gorlier sign a 'Memorandum of Understanding'"e-mobility and energy transition" to create a cutting-edgelaboratory to test the Vehicle-to-Grid (0900 GMT).

Assisi, conference on "The creation of mass popular culturebetween television and online information" with statebroadcaster RAI CEO Fabrizio Salini, Mediaset ChairmanFedele Confalonieri (1600 GMT).

Milan, Pirelli CEO Marco Tronchetti Proveraattends news conference to present 'Milano Monza Open-Air MotorShow' (0900 GMT).

Milan, Bocconi University holds conference on financial fairplay with Juventus FC Chairman Andrea Agnelli,Barcellona FC Chairman Josef Maria Bartomeu, Olympique deMarseille Chairman Jacques-Henri Eyraud, head of FFR, UEFAPhilippe Rasmussen, FC Internazionale Milano Chairman StevanZhang (1530 GMT).

For Italian market data and news, click on codes inbrackets:

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 inbrackets: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 storiesCAC-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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