April 23, 2020 / 4:01 AM / a month ago

Italy - Factors to watch on April 23

The following factors could affect Italian markets on Thursday.

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

Italy’s Economy Minister said on Thursday he expected a “strong rebound” in output in the third quarter of the year and significant growth in 2021, after an exceptional contraction due to the restrictions imposed to fight the coronavirus.

Tourism will be the hardest hit industry from the coronavirus emergency and 20% of the funds made available by Europe should be allocated to the sector for its recovery, the European Union’s industry chief Thierry Breton told La Stampa. (*) Italy’s Deputy Economy Minister Laura Castelli said on Thursday the country could not afford to wait until June for the approval of Europe’s joint recovery financing after the coronavirus pandemic.

ISTAT releases March non-EU foreign trade (0800 GMT).

DEBT

Italy’s Treasury said on Wednesday it would offer up to 2.75 billion euros in zero-coupon bonds and up to 1 billion euros in inflation linked 10-year BTpei notes at an auction on Friday.

SAIPEM

The Italian oil services group said on Thursday it could not offer new guidance for the year because of the highly unstable environment created by the COVID-19 pandemic and falling oil prices.

MONCLER

The Italian luxury outwear maker hopes to limit financial damage from the coronavirus crisis with a strong rebound in the final part of the year, a crucial season for its trademark puffer jackets, after sales fell 18% in the first quarter. .

ATLANTIA

The Italian infrastructure group said on Wednesday that last week traffic on the motorway network it runs in Italy fell 79.7% year-on-year.

The threat of the government stripping Atlantia of its motorway concession has receeded, Il Corriere della Sera said. The data room for the sale of a majority stake in tollroad unit Autostrade to Italian investors has opened with infrastructure fund F2i and state lender CDP as candidates, it said. Autostrade is valued at 8-10 billion euros and the deal could be wrapped up by June if the government finds the time to deal with the issue, the report added.

UNICREDIT

The lender remains a strong and solid bank with a CET1 ratio of around 13% and ample liquidity reserves, CEO Jean Pierre Mustier said in a message to staff as he commented on UniCredit’s decision to take additional loan loss provisions of 900 million euros in the first quarter relating to the impact of Covid-19.

INTESA SANPAOLO

Intesa is the first Italian lender that signed an agreement with credit export agency SACE to provide liquidity for companies hit by the coronavirus emergency, the bank said on Wednesday.

FIAT CHRYSLER

Auto retail sales in the United States are beginning to recover from a massive slump in March due to the outbreak of the coronavirus and nationwide stay-at-home orders, according to analysts at research firm J.D. Power on Wednesday.

(*) TELECOM ITALIA, INWIT

TIM and Vodafone have completed the sale of a stake of more than 8% in Italy’s biggest mobile tower company INWIT, the Italian phone group said on Thursday. TIM said in a statement it had raised around 400 million euros ($433 million) by selling a 4.3% stake at 9.6 euros per share.

TIM holds Annual and extraordinary shareholders’ meetings (1300 GMT).

GUALA CLOSURES

Italy’s eyewear tycoon Leonardo Del Vecchio held 3.99% of Guala Closures as of April 11, according to a regulatory filing.

(*) TRIBOO

The group said on Thursday it had started the sale and distribution of an antibody test for Covid-19, produced by China’s pharmaceutical company SOBC Outdo Biotech.

AZIMUT

Annual general meeting (0900 GMT).

BANCA GENERALI

Annual general meeting (0730 GMT).

BANCA IFIS

Annual general meeting (0730 GMT).

BREMBO

Annual general meeting (0830 GMT).

TECHNOGYM

Annual general meeting (0800 GMT).

ENI

Board meeting on Q1 results (press release on April 24).

DIARY

Rome, Italian banking association ABI Director General Giovanni Sabatini and Deputy Director General Gianfranco Torriero speak via videoconference before Chamber of Deputies Finance and Industry committees (0730 GMT).

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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