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Italy - Factors to watch on Nov. 13

Published 13/11/2020, 06:51 pm
© Reuters.

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 .

GENERAL (*) Italy registered 37,978 new coronavirus infections over the previous 24 hours, the health ministry said on Thursday, up from 32,961 on Wednesday. It also reported 636 COVID-related deaths, up from 623 the day before and the highest figure since April 6. (*) Italy's southern region of Campania is "on its knees" due to the pandemic, further restrictions should be imposed and new red zones identified straight away, Foreign Minister Luigi Di Maio told La Stampa in an interview.

DEBT

Treasury ends offer of second edition 8-year 'BTP Futura' bond, subject to early closure; Treasury announces fixed yields.

Italy's new 8-year 'BTP Futura' retail bond attracted 462 million euros ($545.76 million) in new orders on Thursday, bourse data showed, bringing the total to 5.37 billion euros in the first four days of offer. ATL.MI (*) State lender CDP is considering abandoning talks to buy the group's motorway unit Autostrade as risks of having to pay large compensations are increasing, dailies Corriere della Sera and La Stampa said, after Atlantia 's former head Giovanni Castellucci was placed under house arrest by judges investigating the deadly 2018 collapse of a bridge in Genoa. (*) Foreign Minister Luigi Di Maio told La Stampa daily that Italians "cannot be fooled anymore" and that, after magistrates intervened in Autostrade, "politics must do the same, in a firm way". (*) Rome is again considering an option to put Autostrade under special administration, though this option looks legally complicated, daily Il Sole 24 Ore said.

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Board meeting on Q3 results.

ENEL ENEI.MI

Italy's biggest utility is close to clinching a deal to sell its stake in fast broadband operator Open Fiber to Australian fund Macquarie and state lender Cassa Depositi e Prestiti (CDP), three sources close to the matter told Reuters. A2.MI

The regional utility plans to increase investments this year to around 700 million euros ($826.77 million) and will present its new 10-year plan on Jan. 20, Chief Executive Marco Mazzoncini said on Thursday. MEDIASET MS.MI

French shareholder Vivendi (PA:VIV) turned to the French government to lobby against measures Rome is readying and that could temporarily prevent Vivendi from strengthening its position in the Italian media and telecoms sectors, daily La Repubblica said. The report added that French Presiden Emmanuel Macron has truned to Brussels to ask whether the new rules, once approved, would be in line with Eu regulations.

Vivendi is considering sending a letter to the European Union to protest again measures Italy is approving to limit its action in the country, daily La Stampa said.

(*) UNIPOLSAI US.MI , UNIPOL UNPI.MI

Italy's second largest insurer said on Friday it confirmed its full-year targets after a 37.7% rise in nine-month earnings, despite the uncertain economic outlook due to a resurgence of COVID-19 pandemic. call (1100 GMT).

MONTE DEI PASCHI DI SIENA BMPS.MI

Italy is readying measures to facilitate corporate tie-ups through tax breaks, a draft document seen by Reuters showed, as Rome strives to find a merger partner for the ailing state-owned bank. Italy's biggest banking union FABI said on Friday it supported a request from the Head of Tuscany's Regional government Eugenio Giani to push back the privatisation of the bank.

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(*) BPER BANCA EMII.MI , INTESA SANPAOLO ISP.MI

The two banks said on Thursday, in two separate statements, that BPER Banca would buy from Intesa Sanpaolo 486 branches with accounting autonomy and where customers' accounts are legally registered, seven more than previously agreed, as well as 134 outlets without accounting autonomy, as part of Intesa's acquisition of UBI Banca. FCT.MI

The Italian shipbuilder said on Thursday it had a consistent order backlog and did not get any cancellations from clients, despite a deep crisis of the cruise industry due to the coronavirus pandemic and global travel restrictions. GEO.MI

The Italian shoe maker's revenues dropped 23.7% in the third quarter. The group said that the planned rationalisation of its store network was continuing, with 30 directly operated stores (DOS) being closed in the third quarter alone. IL SOLE 24 ORE S24.MI

The publisher said on Thursday it posted a 3.4 million euro net loss in the first nine months of the year, compared to a 0.5 million euro profit a year ago. ITALMOBILIARE ITMI.MI

The group said on Thursday it had bought a 92.5% stake in healthcare operator Casa della Salute for 24 million euros. FCT.MI

Conference call on Q3 results (0800 GMT).

DIARY

Webinar "Pandemic and Risk Management: an ethical question, or a question of numbers?" with Milanese Sacco hospital infectivologist Massimo Galli (0830 GMT).

HSBC holds webinar on NPL market in Italy and Europe (0900 GMT).

CGIL conference live streaming on collettiva.it, Italy's Prime Minister Giuseppe Conte expected to take part (1030), round table with CDP CEO (1700)

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SACE-Simest hold second digital roadshow to present 'Report on Export' focused on "The 3Fs of Made in Italy - Food, Fashion, Furniture" (1030 GMT).

Rome, Cabinet meeting (1130 GMT).

Industry Minister Stefano Patuanelli, Labor Minister Nunzia Catalfo, Economy Minister Roberto Gualtieri meets via video conference trade unions FIM, FIOM, UILM general secretaries Roberto Benaglia, Francesca Re David, Rocco Palombella on Arcelor Mittal (1430 GMT).

Umberto Veronesi Foundation continues online edition of annual world conference 'Science for Peace', ends on Nov. 14. Attendees expected on Friday include World Health Organization official Walter Ricciardi (1715 GMT).

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