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Italy - Factors to watch on May 3

Published 03/05/2021, 02:00 pm
Updated 03/05/2021, 04:00 pm
© Reuters.

© Reuters.

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 .

DEBT

DBRS Morningstar on Friday confirmed Italy's credit rating at 'BBB (high)', saying covid-19 infections interrupted its recovery, but resilient manufacturing and construction sectors and support from the European Union provide comfort. Ursula von der Leyen confirmed in a tweet on Saturday the EU Commission had received Italy's recovery plan.

POLITICS

Italy submitted its Recovery Plan to the European Commission late on Friday, a government spokesman said, just getting the document to Brussels within the April 30 target date set for all 27 European Union countries. Fedez has set off a political storm in Italy by accusing state broadcaster RAI of trying to censor him during a union-sponsored May Day concert at which he accused the rightist League party of homophobia. reported 144 coronavirus-related deaths on Sunday against 226 the day before while the daily tally of new infections fell to 9,148 from 12,965. Markit releases April PMI manufacturing (0745 GMT).

Transport Ministry releases April car sales data (1600 GMT).

April state sector borrowing requirement data.

COMPANIES

ATLANTIA ATL.MI

Atlantia will ask shareholders on May 31 to assess an improved offer for its motorway unit presented by state investor CDP and its partners, the group controlled by Italy's Benetton family said late on Friday. up to 230 million euro ($276.46 million) ticking fee in the revised offer lifts the bid's valuation of the unit to 9.3 billion euros, at the bottom of the range estimated by the board, a report prepared by Atlantia's board for the AGM showed on Saturday.

ENEL ENEI.MI , TELECOM ITALIA TLIT.MI

Italian utility Enel on Friday agreed to sell its holding in Open Fiber, handing control of the broadband network firm to state lender Cassa Depositi e Prestiti (CDP) and bringing in Australian fund Macquarie as owner of a 40% stake. sale entails an injection of 194 million euros into Open Fiber, of which Enel would contribute 97 million.

MEDIASET MS.MI

Mediaset and Vivendi VIV.PA are moving closer to signing an agreement that would end years of legal sparring stemming from a failed pay-TV deal in 2016, sources close to the matter said on Saturday. ENI.MI

Italian energy group Eni is planning to spin off a minority stake in its new retail and renewable business next year, it said on Friday, after announcing first quarter profits that missed expectations. Claudio Descalzi told La Stampa on Saturday the group would take a few months to decide whether to opt for an IPO or a an accord with a strategic investor for the spin-off. It would then work on a business plan and kick off a roadshow, he said, adding the IPO process was "a bit longer but we want to close the project in 2022."

UNICREDIT CRDI.MI

New CEO Andrea Orcel held its first meeting with Italian unions on Friday, union sources said. La Stampa reported on Saturday Orcel told the bank's internal union representatives that UniCredit had to make up lost competitiveness versus rival Intesa Sanpaolo ISP.MI .

JUVENTUS JUVE.MI

Two late goals from Cristiano Ronaldo earned Juventus a 2-1 comeback win against Udinese on Sunday to give the Turin club a precious three points in the Serie A top-four race on the day rivals Inter Milan won the Serie A championship. LAZIO LAZI.MI

Joaquin Correa scored his second brace in two games to help Lazio to a thrilling 4-3 win over 13th-placed Genoa and set a new club record of 11 consecutive home wins in Serie A. AS ROMA ASR.MI

AS Roma's winless run stretched to six games in all competitions as they fell to a 2-0 defeat by Sampdoria thanks to goals from Adrien Silva and Jakub Jankto either side of halftime. said on Friday it had raised 140 million euros, before the overallotment option, in its initial public offering, after setting the final price at 3.7 euros per share. The IPO gave it the Italian high-tech group a market capitalisation of 397.3 million euros. Shares will start trading on May 5. CLOSURES GLC.MI

Special Packaging Solutions Investments, a vehicle of Italian investment fund Investindustrial, said on Friday market regulator Consob had resumed the process to approve its takeover offer for Guala.

The safety closures maker has appointed CEO former Alitalia chief Gabriele Del Torchio as Investindustrial secured a majority of board seats.

TENARIS TENR.MI

Annual general meeting (1330 GMT).

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