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Italy - Factors to watch on July 8

Published 08/07/2019, 04:18 pm
© Reuters.  Italy - Factors to watch on July 8

The following factors could affect Italian markets on Monday.

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

OECD releases May composite leading indicator (1000 GMT)

DEBT

Treasury announces sale of BTP bonds, with relative amounts to be auctioned on July 11.

Italy's Treasury said on Friday it would sell 6.5 billion euros in 12-month bills at auction on July 10. ATL.MI

Deputy Italian Prime Minister Luigi Di Maio said the infrastructure group should repay excessively high tolls earned in recent years from its motorway concession if it wanted to keep the contract, a newspaper reported on Saturday. ASSICURAZIONI CASS.MI

The Italian insurer said on Friday it had agreed to extend its partnership with banking group ICCREA to 2022 and raised stakes it held in their 'bancassurance' joint-ventures to 70%. BANCA UBI.MI , ASSICURAZIONI GENERALI GASI.MI

Italy's top insurer is interested in becoming UBI's exclusive bancassurance partner replacing Cattolica and Aviva (LON:AV) whose accords are close to expiring, Il Sole 24 Ore reported on Saturday. Non-binding bids have arrived also from four foreign players which could include Allianz ALVG.DE and AXA AXAF.PA .

TELECOM ITALIA TLIT.MI

Italy's biggest phone company plans to extend 5G services to six more Italian cities as well as dozens of tourist spots and business hubs by the end of the year. Italia could reach an accord with Vodafone VOD.L to share 5G infrastructure already by the end of the month, Il Sole 24 Ore reported on Saturday.

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UNICREDIT CRDI.MI , BPER BANCA EMII.MI , CARIGE CRGI.MI

UniCredit and BPER are both ready to take over for free troubled rival Carige as part of a liquidation process that would see state agency SGA take on up to 12 billion euros in impaired loans from the banks involved, la Repubblica reported on Saturday. The state would have to inject up to 1 billion euros in capital into SGA to finance the deal, it said. Carige had 16 billion euros in client loans at end-2018, of which 3.5 billion classed as impaired.

The FITD banking fund should hold a board meeting this week to try and call a shareholder meeting for the week after to convert a 312 million euo bond into equity, Il Sole 24 Ore said on Sunday.

(*) ENEL ENEI.MI

The utility's top shareholder, the Italian Treasury, has not asked for an extraordinary dividend, CEO Francesco Starace told Corriere della Sera's L'Economia on Monday. Starace reiterated that Enel did not want to give up its stake in Open Fiber but said that it was open to consider option that created value.

(*) CREDITO VALTELLINESE PCVI.MI , CARIGE CRGI.MI

French businessman Denis Dumont has increased its stake in Creval above 8% in recent months, the Italian mid-sized lender CEO, Luigi Lovaglio, told Corriere's L'Economia on Monday. The lender is not interested in buying troubled rival Carige, Lovaglio added.

(*) SAFILO SFLG.MI

CEO Angelo Trocchia told la Repubblica's A&F on Monday he hoped the eyewear group would be able to unveil soon new licences and deals similar to a joint-venture struck in South Corea.

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RAI WAY RWAY.MI , MEDIASET MS.MI

State broadcaster RAI is studying a merger of its Rai Way tower unit with EI Towers, the tower group owned by infrastructure fund F2i and commercial broadcaster Mediaset , and deal could be struck in the autumn, la Repubblica reported on Saturday.

FINCANTIERI FCT.MI

The Italian state-owned shipbuilder is racing against Huntington Ingalls Industries HII.N , Bath Iron Works and Austal USA ASB.AX to win $19 billion U.S. Navy contract, Il Sole 24 Ore reported on Satuday, adding it had to submit a technical proposal by Aug. 22.

MEDIASET MS.MI

The Italian broadcaster said on Friday it had moved a board meeting to approve first-half results to Sept. 30 from July 25.

ASTM ATMI.MI , SIAS SIS.MI

Italian market watchdog Consob has given a green light to a prospectus for the tender offer that Italian toll road operator ASTM plans to launch on 11.4 million shares of its SIAS unit SIS.MI . LIT.MI

Organic growth as well as M&A followed by a reordering of its business are among the focus points of Retelit, says Il Sole 24 Ore on Sunday.

JUVENTUS JUVE.MI

The Serie A football club said on Friday it signed defender Merih Demiral until June 2024 after reaching a deal for the definitive acquisition of the player from U.S. Sassuolo Calcio for 18 million euros ($20 million) payable over four years. AST.MI

A July 15 deadline for the troubled builder to submit to a court a proposed accord with creditors is unlikely to be met but so-called 'comfort letters' being prepared by creditor banks are expected to win an extension to July 31, Il Sole 24 Ore reported on Saturday.

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CHL CHL.MI

Capital increase starts; ends on July 25.

LVENTURE GROUP LVEN.MI

Capital increase starts; ends on July 25.

NETWEEK NTW.MI

Capital increase starts; ends on July 25.

Trade ex-dividend: COFIDE COFI.MI of 0.0145 euro per share, IVS GROUP IVS.MI of 0.30 euro per share.

DIARY

Milan, Cabinet Undersecretary Stefano Buffagni delivers closing address at Cariplo Foundation event (0900 GMT)

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