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Italy - Factors to watch on Aug. 22
August 22, 2017 / 4:03 AM / 4 months ago

Italy - Factors to watch on Aug. 22

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 .

GENERAL (*) An earthquake hit the tourist-packed Italian holiday island of Ischia on Monday night, collapsing buildings, killing at least one person and injuring more than 25, officials said.

ECONOMY (*) Italy, France and Germany have asked the European Commission to reinforce existing regulations that allow EU states to block foreign acquisitions of European companies, two Italian dailies reported on Tuesday.

COMPANIES

FIAT CHRYSLER

A direct overture by Chinese automaker Great Wall Motor Co Ltd to Italian-American automaker Fiat Chrysler Automobiles NV sent FCA shares up sharply on Monday, as investors cheered the potential sale of the storied Jeep brand.

ENI

Mozambique’s government plans to set up a sovereign investment fund where taxes paid on sales of the country’s minerals will be used to finance development projects, state-run AIM news agency said on Monday quoting the finance minister.

AIM reported that the first money to go into the fund would likely be the $350 million in capital gains tax to be paid on the sale by Italian energy company ENI to the U.S. oil and gas giant ExxonMobil.

(*) UNICREDIT

Although the lender’s board is up for renewal in eight months, Unicredit has given mandate to two head hunting firms - Egon Zehnder and Spencer Stuart - to start searches for the new chairman and new board members, with chief Executive Jean Pierre Mustier following the process closely, Il Sole 24 Ore reported.

Only a few board members are certain to have their positions renewed and the banking foundations are ready to scale down their influence, with just one representative sitting on the board, the report added.

(*) ATLANTIA

It will be hard to present an offer for Spain’s Abertis that is better that the one made by the Italian infrastructure group, its Chairman Fabio Cerchiai said on Monday, as reported by Il Sole 24 Ore. Cerchiai added that if the deal were to be finalised then Abertis would remain floated on Spain’s Bourse.

(*) CREVAL

Any potential mergers could be discussed after the lender has completed the securitisation of its bad loans and has returned to profitability, so not earlier than 2018, the bank’s chairman Miro Fiordi is quoted as saying by Il Sole 24 Ore.

Bourse After Hours market closed.

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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