July 18, 2017 / 4:00 AM / 4 days ago

Italy - Factors to watch on July 18

4 Min Read

The following factors could affect Italian markets on Tuesday.

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 .

Economy

Euro zone government bond yields fell on Monday, as tepid inflation numbers lifted expectations of a cautious stance at this week's European Central Bank meeting.

Companies

Telecom Italia

Top shareholder Vivendi has set aside a plan to name its Chief Convergence Officer Amos Genish as Telecom Italia's Director General as this would give CEO Flavio Cattaneo grounds to claim the 50 million euros he is due under his contract if his powers are curtailed, Il Sole 24 Ore reported. Alternatively, Vivendi could appoint Genish as an adviser to TI Chairman Arnaud de Puyfontaine or give him the board seat of another Vivendi representative such as the head of legal Frederic Crepin.

Unicredit, Banco Bpm, Bper Banca

Macquarie starts coverage of Italian banks with a positive stance: "outperform" on UniCredit (also Top pick), Banco BPM and BPER Banca.

Unicredit, Enel

UniCredit, Societe Generale and BNP Paribas will sign off by early August a 500 million euro loan to Enel Open Fiber, the broadband joint-venture between Enel and Cassa Depositi e Prestiti, Il Sole 24 Ore said, adding it is be the first tranche of an overall 3.5 billion euro financing package.

Edison, Frendy Energy

The group signed on Monday a binding agreement to buy from Cryn Finance a majority stake in Frendy Energy.

Telecom Italia

San Marino is set to become the first European country to have a super-fast fifth-generation (5G) mobile network under a deal struck by the tiny republic and the phone group.

Eni

The local government of Italy's Basilicata region on Monday decided to reopen Eni's Val d'Agri plant, several newspapers reported.

Mexico will announce later this week the bid terms and blocks up for grabs in its next deepwater oil tender, which may include the first areas from the Cordilleras Mexicanas basin, a senior official said on Monday.

Banca Carige

CEO Paolo Fiorentino has told unions the bank plans to cut 100-150 jobs on top of the 755 layoffs already envisaged by a business plan to 2020, la Repubblica reported citing union sources.

Ratings agency Moody's upgraded on Monday the rating on lender's commercial mortgage covered bonds and affirmed the rating on the bank's residential mortgage covered bonds.

(*) Astaldi

The Italian builder is in talks with banks to finalise a 24-month, back-up credit line for 150 million euros, Il Messaggero reported.

Beni Stabili

Board meeting on H1 results.

For Italian market data and news, click on codes in brackets:

20 biggest gainers (in percentage)............

20 biggest losers (in percentage).............

FTSE IT allshare index

FTSE Mib index........

FTSE Allstars index...

FTSE Mid Cap index....

Block trades..........

Stories on Italy...... IT-LEN

For pan-European market data and news, click on codes in brackets: European Equities speed guide................... FTSEurofirst 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurofirst 300 sectors................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Reuters survey of world bourse outlook......... Western European IPO diary.......................... European Asset Allocation........................ Reuters News at a Glance: Equities............... Main currency report:...............................

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