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Italy - Factors to watch on July 5

Published 05/07/2018, 04:53 pm
© Reuters.  Italy - Factors to watch on July 5

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 IT/DIA .

(*) ECONOMY

Italy will ask the European Union for greater leeway on public investments and reforms, its deputy prime minister, Luigi Di Maio, told a newspaper on Thursday, adding that all member states should have the same fiscal and welfare systems. (*) GENERALI GASI.MI

Italy's biggest insurer said on Thursday it would sell 89.9 percent of its German life insurance portfolio to Viridium in a deal that would value the company at up to 1 billion euros. ATL.MI

The infrastructure group said on Wednesday it secured a five-year loan worth 1.75 billion euros ($2 billion) to refinance the acquisitions of Spain's Abertis ABE.MC and Germany's Hochtief, a deal sealed with builder ACS ACS.MC and aimed at creating the biggest motorway operator in the world. SECTOR

The Italian government has asked the European Commission to extend by a further six months a guarantee scheme aimed at easing the disposal of bad loans, two government sources said on Wednesday. (*) Economy Minister Tria has signed the decree needed to grant the guarantee scheme to a 2.92 billion euro senior tranche of a wider 24.1 billion euro securitisation operation by Monte dei Paschi di Siena BMPS.MI , Il Sole 24 Ore reported. Italy's ICCREA Bank should be the next in line, the report added.

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(*) TELECOM ITALIA (TIM) TLIT.MI

Chief Executive Amos Genish is examining the project of a single Italian optic fiber company which would be created merging TIM's network with that of Open Fiber, jointly owned by state lender CDP and Enel ENEI.MI , la Repubblica reported. The new company would converge into Flash Fibre, a joint venture created by TIM and Fastweb in 2016 and in which TIM holds an 80 per cent controlling share, the report added.

UBI UBI.MI , BANCA CARIGE CRGI.MI

UBI's head of the supervisory board said there was nothing on the table regarding a possible merger with Banca Carige. MS.MI , TELECOM ITALIA TLIT.MI

An Italian court will likely decide after the summer whether French media group Vivendi VIV.PA needs to reduce its stake in Telecom Italia TLIT.MI or Mediaset MS.MI to prevent a concentration of power, two legal sources said on Wednesday. One of Vivendi's lawyers did not rule out a possible complaint to the European Commission on the issue. LDOF.MI

Europe's ATR is urging the Trump administration to unblock the export of about six regional planes to Iran, warning of "serious damage" to its finances from the breakdown of deals negotiated with Washington's approval before a change of foreign policy. ATR is co-owned by Airbus AIR.PA and Leonardo. REY.MI

The digital services group intends to grow further through mergers and acquisitions with a focus on Europe and the U.S., the company's chairman and co-CEO told Reuters on Wednesday. ENI ENI.MI

Credit Suisse (SIX:CSGN) raised on Thursday its target price to 18.2 euros per share from 18 euros. raised on Thursday its target price to 19 euros per shares from 18.50 euros per share. FIAT CHRYSLER FCHA.MI

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Jefferies raised on Thursday its rating to "buy", and cut its target price to 20 euors. ORSERO ORSO.MI

The group aims to invest in the fresh cut market and in the dried fruit sector, MF reported.

GRUPPO WASTE ITALIA WIGG.MI

Ordinary shareholders' meeting (1500 GMT).

JUVENTUS FC JUVE.MI

Cristiano Ronaldo has received an offer to leave Real Madrid and join Italian champions Juventus, a source close to the player told Reuters on Wednesday. Juventus declined to comment when contacted by Reuters, while Real Madrid said: "Our official comments are made through our official media channels." (*) Ronaldo's agent is expected to meet Real Madrid's president Florentino Perez on Thursday, several dailies reported. (*) Real Madrid would not be ready to sell Cristiano Ronaldo unless it finds a substitute, Corriere della Sera reported, which estimates that the deal could be worth an overall 400 million euros.

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