(Corrects Moody’s item to clarify forecasts come from Moody’s Analytics, not Moody’s ratings agency) 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 .
POLITICS
Looking to save lives and stop the coronavirus by shutting down the nation, the Italian government told workers in March: you stay home and we will pay most of your lost wages.
It set aside 3.3 billion euros for employees at small companies, and predicted 2.3 million people would sign up. Payouts on all claims would be made by the end of April. But as of April 27, the programme had helped just 29,000 workers.
ECONOMY
Moody’s Analytics expects Italy’s economy to contract by 9.3% this year due to the impact of the new coronavirus and grow 6.1% in 2021, its chief economist, Mark Zandi, told La Stampa newspaper.
ISTAT releases March unemployment data (0800 GMT); April flash CPI and HICP data (0900 GMT); Q1 flash GDP DATA (1000 GMT).
BONDS
Italy’s Treasury said on Wednesday that its new BTP Italia bond will have a 5-year maturity and will pay a loyalty premium double the one offered in the previous issues.
COMPANIES
Bourse After Hours market closed.
UNICREDIT
S&P on Wednesday changed UniCredit’s outlook to negative from stable. (*) The bank’s agreement for the life insurance sector in Italy with Aviva is expiring and the lender plans to launch a competitive process to identify the best market option, the MF said.
ITALIAN BANKS
In a report issued on Wednesday credit rating agency S&P said the outlooks on most of the Italian banks are now negative on the deepening of Covid-19 downside risks.
POSTE ITALIANE
Poste Italiane said on Wednesday it had decided to halve managers’ MBO bonuses for 2020 due to the coronavirus emergency.
ATLANTIA
The Italian infrastructure group said on Wednesday that last week traffic on the motorway network it operates in Italy fell 77% year-on-year.
ITALGAS
Italy’s Italgas is still very interested in Greek gas distribution network DEPA and is waiting for Athens to publish a short list, the group’s CEO Paolo Gallo said on Wednesday.
FERRARI, EXOR
The luxury carmaker’s top shareholders, Agnelli family investment company Exor and Pietro Ferrari, are working to renew the shareholders’ agreement that controls almost 50% of Ferrari’s voting rights, Il Sole 24 Ore reported. The current pact is set to expire in June.
TENARIS
The steel pipe maker reported a first-quarter operating loss of $510 million, which includes impairment charges of $622 million. For the second quarter, Tenaris said sales could be around 35% lower than the first quarter and its EBITDA margin, excluding restructuring charges, could fall to a high single digit.
Conference call on Q1 results (1400 GMT).
SOCCER TEAMS
UEFA’s chief medical official says it is “definitely possible” to plan a restart of European soccer leagues despite the Dutch and French ending their seasons and Italy’s sports minister raising the prospect of a similar fate for Serie A.
ASSICURAZIONI GENERALI
Annual and extraordinary shareholders’ meetings (0900 GMT).
UNIPOL
Annual and extraordinary shareholders’ meetings (0830 GMT).
CREDITO EMILIANO
Annual and extraordinary shareholders’ meetings (1500 GMT).
MAIRE TECNIMONT
Annual general meeting (0830 GMT).
DIARY
Rome, Prime Minister Giuseppe Conte speaks before Senate on measures to face COVID-19 emergency (1030 GMT).
Rome, Cabinet expected to meet to discuss new stimulus package.
Rome, representatives of credit export agency SACE due to speak on ‘liquidity decree’ before Chamber of Deputies Finance Committee (0630 GMT).
Luiss University holds webinar on “Using Open Innovation to recover from the crisis” with Maire Tecnimont Chairman Fabrizio Di Amato (1630 GMT).
Italian Digital Week ends. Today the focus is on servicers “Credit Servicing: what’s the new challenge?”.
IR TOP Consulting holds “Smartinvestor Day with focus on AIM Italy Tech & Innovation sector” (0900 GMT).
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