April 18, 2018 / 4:00 AM / 7 months ago

Italy - Factors to watch on April 18

The following factors could affect Italian markets on Wednesday.

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 .

POLITICS

Italy’s president is likely on Wednesday to appoint a mediator to try to break a deadlock that has prevented the formation of a government since inconclusive elections six weeks ago, a source said, although no quick breakthrough is expected.

ECONOMY

ISTAT releases February industrial output data (0800 GMT).

DEBT

Treasury offers up to 2.0 billion euros of an 0.35 percent BTP bond due Nov. 1,2021 in exchange for the following five bonds: 4.50 percent BTP bonds due Aug. 1,2018; CTZ bonds due Dec. 28, 2018; 0,10 percent BTP bonds due April 15, 2019; CTZ bonds due May 30, 2019; 0,05 percent BTP bonds due Oct. 15, 2019.

TELECOM ITALIA

The phone group said on Tuesday the chairman of an upcoming shareholders meeting will not have the power to stop a vote on board candidates proposed by activist fund Elliott, a judge’s decision pending on the matter. (*) Telecom Italia’s management said it had not put the actions proposed by Elliott, including a potential de-consolidation of NetCo, a further sale of a stake in towers unit INWIT and a merger with a local peer for its Brazilian unit, in its own business plan because it considers them “premature/not feasible”. An exception is submarine network unit Sparkle where management will explore potential options, it added. (*) Chief Executive Amos Genish is due to meet some funds in London as part of his latest roadshow. One of those meetings could be with representatives from activist fund Elliott, La Stampa said.

The board of state lender CDP will meet on Wednesday to prepare their stance ahead of TIM’s April 24 board meeting, Il Sole 24 Ore said.

ENEL

The group said it launched a takeover offer to shareholders in Brazil’s power distribution company Eletropaulo Metropolitana SA at 28 reais per share.

(*) FIAT CHRYSLER

Industry-wide European car registrations fell 5.2 pct in March, led by Nissan, Ford and Fiat Chrysler, according to data published on Wednesday by auto industry association ACEA.

(*) BANCA BPM

The lender has decided to redeem on June 25 a Tier 1 bond with an outstanding amount of around 195 million euros.

INTESA SANPAOLO

The lender’s deal with Sweden’s Intrum Justitia shows bad loans can be sold without a loss and will help Italian lenders turn a corner after “a perfect storm” of fire sales, CEO Carlo Messina said.

(*) GENERALI

Generali Chairman Gabriele Galateri reiterates the insurer wants to be “Italian, international and independent”, according to an interview with Corriere della Sera. Asked whether he was concerned after Axa recently made an acquisition worth around half the Italian insurer’s capitalisation, Galateri said “no, I remain attached to one principle: the guarantee to remain autonomous is to boost one’s own value”.

(*) SAIPEM

The company wants to bid for contracts to be tendered by Edf Renewables to help build wind farms offshore the Atlantic that will be awarded this year, the MF said. Saipem is particularly interested in the Fecamp and Courseulles-su-Mer projects, the paper added.

BANCA IFIS

The bank placed on Tuesday a 5 year senior unsecured preferred bond for 300 million euros. The bond pays a fixed rate coupon of 2 percent.

ENI

‘Investor Day’ (0900 GMT) in Milan.

POSTE ITALIANE

CEO Matteo Del Fante is guest of the Canova Club in Rome.

INWIT

INWIT Chairman Francesco Profumo and 2007 Peace Nobel Prize winner Rae Kwon Ching attend “The Global Energy Prize Summit 2018” in Turin (0730 GMT).

WASTE ITALIA GROUP

Bond holders’ meeting (0900 GMT).

D’AMICO INTERNATIONAL SHIPPING

Annual general meeting (0900 GMT).

ITALMOBILIARE

Annual general meeting (0830 GMT).

RECORDATI

Annual general meeting (0800 GMT).

SCM-SOLUTIONS CAPITAL MANAGEMENT SIM

Annual general meeting (0830 GMT).

VIANINI

Annual general meeting (1000 GMT).

FERVI

Board meeting on FY results.

OVS

Board meeting on FY 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:...............................

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below