August 13, 2018 / 6:56 AM / 9 days ago

Italy - Factors to watch on Aug. 13

The following factors could affect Italian markets on Monday.

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 Deputy Prime Minister Luigi Di Maio said on Monday there was no risk of speculators attacking the country’s financial markets and that the government was working to stabilise the economic and financial situation.

On Sunday a senior and influential government official said that he expected speculators to attack Italian financial markets this month but the country had the resources to defend itself. (*) Italy’s Deputy Prime Minister Luigi Di Maio said on Monday the conditions were still not there for a deal on the Ilva steel plant to be reached and that the TAV Italy-France rail line project had to be re-discussed. He added that the Prime Minsiter would find an agreement for the Tap pipeline by the end of the year.

Italy’s government will introduce a raft of structural reforms this autumn, Prime Minister Giuseppe Conte said on Saturday, reiterating that the 2019 budget would be “serious, rigorous and also courageous”.

An unsourced report in la Repubblica newspaper on Saturday says Brussels is ready to give the government some fiscal leeway next year, meaning Italy could spend 8 billion euros ($9.1 billion) more than EU rules stipulated.

European Affairs Minister Paolo Savona met ECB governor Mario Draghi at the end of July and said Italy would not break the European Union’s 3 pct deficit-GDP limit, La Stampa reported on Saturday. (*) The head of Confindustria, Italy’s largest employers association, told Il Messaggero on Monday that the lobby was expecting “a lot more” from the package of measures passed in July and dubbed “dignity decree”, which he said would raise labour costs and will not increase employment. Vincenzo Boccia asked the government for greater respect for the association and said that otherwise the group would “make itself heard.”

ISTAT releases July final CPI and HICP data (0800 GMT).

COMPANIES

Bourse After Hours market closed.

(*) UNICREDIT

JP Morgan on Monday cut its target price to 19 euros per share from 20 euros per shares.

(*) INTESA SANPAOLO

The bank has short-listed potential buyers for a 250-million euro portfolio of unlikely-to-pay loans and the list includes Christofferson Robb & Company (CRC) and problem loan manager Bayview, Il Sole 24 Ore reported on Saturday.

(*) BANCA CARIGE

The Italian government is analysing a plan B for the lender which could see the involvement of a special fund to guarantee deposits in view of the results of the Nov. 2 banking stress tests, Il Sole 24 Ore reported on Sunday

BANKING SECTOR

Italian lender Banca Popolare di Bari is due to call a shareholders meeting to approve its transformation into a joint-stock company on Dec. 16, a source close to the matter said on Friday.

Investors dumped euro zone bank shares on Friday on concerns about their exposure to Turkey as the lira fell to yet another record low with a defiant government showing few signs it is ready to take decisive steps to stabilise the currency.

(*) POSTE ITALIANE

The group’s search for a partner in the car insurance business will speed up after the summer, Il Messaggero reported on Saturday.

(*) AUTOGRILL

Credit Suisse raised on Monday its rating to ‘Neutral’ from ‘Underperform’ and cut its target price to 9 euros per share from 9.30 euros per share.

(*) JUVENTUS FC

The soccer club said on Friday it reached an agreement with Genoa Cricket and Football Club for the loan until June 30, 2019 of the registration rights of player Andrea Favilli, for a total of 5 million euros over three financial years. (*) RETELIT

The Italian government has started proceedings, which may result in a possible sanction, against Retelit, the group said on Friday.

(*) STEFANEL

The group’s restructuring plan has halted and must be reviewed given the delays in its implementation and a fall in sales in the fast-fashion sector as a whole in the first half of the year, la Repubblica’s Affari&Finanza reported on Monday. It added that the appointment of a new CEO would take time.

(*) BANCA FARMAFACTORING

Jefferies on Monday raised its target price to 6.56 euros per share from 6.14 euros per share.

(*) BUZZI UNICEM

JP Morgan cut its target price to 26 euros per share from 27 euros per share.

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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