Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Italy - Factors to watch on April 3

Published 03/04/2020, 04:00 pm
Updated 03/04/2020, 05:54 pm
© Reuters.
VIV
-
ISP
-
CRDI
-
ENEI
-
ATL
-
TRN
-
US
-
MFEB
-
NG
-
EDNn
-

The following factors could affect Italian markets on Friday.

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

The head of the European Commission apologised to Italy on Thursday for a lack of solidarity from Europe in tackling its coronavirus crisis, but promised greater help in dealing with the economic fallout. Markit releases March service Pmi data (0745 GMT).

ISTAT releases Q4 deficit/GDP ratio data (0800 GMT).

DEBT

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on April 8.

COMPANIES

BANKS

Requests for debt moratoriums will challenge Italian banks, DBRS Morningstar said on Thursday, confirming ratings for Intesa Sanpaolo (MI:ISP), UBI and Credito Valtellinese with stable trends.

DBRS also confirmed debt ratings for Monte Dei Paschi, Banco Bpm and Popolare Sondrio but revised their trends to negative from stable. CRDI.MI

Italy's biggest bank has agreed with unions 5,200 voluntary layoffs to meet staff reduction goals under a new four-year plan presented in December, unions said on Thursday. the 5,200 voluntary early retirements and 2,600 new hirings over the next four years, the bank also said it would turn 900 apprenticeships into standard contracts and set up two new client contact and back office centres in southern Italy. MS.MI

The Italian broadcaster said it had filed with Dutch authorities revised plans to merge its Italian and Spanish businesses under a Dutch entity as it seeks to offset legal challenges from investor Vivendi VIV.PA . Notice of the filing appeared in the Dutch Official Gazette on Thursday, giving Mediaset six months to complete the merger, which is on hold pending a Spanish court decision.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

UNIPOLSAI US.MI , UNIPOL GROUP UNPI.MI>

Italy's second-largest insurer will pay a dividend on 2019 results in light of its strong capital position, its parent company Unipol Group said, adding it was suspending instead its own dividend payment. ATL.MI

The infrastructure group's motorway unit Autostrade per l'Italia said on Thursday it would exempt health workers from toll payments pending the coronavirus emergency.

(*) Investment banks had pencilled a preliminary valuation for Autostrade per l'Italia of around 12 billion euros, MF daily reported on Friday.

(*) CAMPARI CPRI.MI

The premium spirit company is considering the acquisition of a vermouth brand in France, MF daily reported on Friday.

INSURERS

Insurers and reinsurers in the European Union should temporarily suspend dividends and share buybacks, and consider postponing bonuses as well to ensure continuity in services during the coronavirus pandemic, the bloc's insurance regulator said on Thursday. EDNn.MI

The Italian energy group said on Friday a planned sale of its oil and natural gas operations to Greece's Energean will not include Algerian assets. As a result, Edison's net financial position will be impacted by around $150 million dollars. It said the Algerian operations could be sold at a later date.

ENEL ENEI.MI

The Italian power utility said on Friday it plans to increase its shareholding in its listed Chilean subsidiary Enel Américas by up to an additional 2.7% to reach the maximum shareholding currently allowed by Enel Américas' by-laws, equal to 65%.

TERNA TRN.MI

The Italian power grid operator has registered a 20% fall in power consumption due to a nationwide shutdown imposed by the government to curb the coronavirus epidemic, the group's CEO said in an interview with La Stampa daily on Friday.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.