December 18, 2019 / 5:01 AM / a month ago

Italy - Factors to watch on Dec. 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 .

DEBT

Treasury announces sale of six-month BOT bills and CTZ bonds with relative amounts to be auctioned on Dec. 23.

(*) ECONOMY

Italian Prime Minister Giuseppe Conte and ArcelorMittal will talk on Wednesday about a possible deal over the Ilva plant in the southern Italian city of Taranto, Corriere della Sera reported.

ArcelorMittal is seeking a discount on the price it paid to buy the Ilva plant in order to continue negotiations for an out-of-the court agreement with the government, the newspaper added.

COMPANIES

FIAT CHRYSLER (*) Fiat Chrysler and Peugeot maker PSA said on Wednesday they had agreed on a binding merger agreement, in a $50 billion deal that will pave the way to the creation of the world’s fourth-largest carmaker.

The PSA-FCA merger - which is aiming for annual cost savings of 3.7 billion euros ($4 billion) by combining technologies and through shared purchasing agreements - is expected to close in the next 12 to 15 months, the auto firms said in a statement.

Before the 50-50 share merger is completed, one of PSA’s shareholders, China’s Dongfeng Motor Group, will trim its 12.2% stake in the French carmaker by selling 30.7 million shares to PSA, they added.

BANKS

Italy’s government must compensate investors who stand to lose their money in the rescue of ailing bank Popolare di Bari, a junior minister from the ruling 5-Star Movement said on Tuesday.

Italian banking association ABI holds Executive Committee meeting (1000), followed by depositor guarantee fund (FITD) meeting on Popolare di Bari’s rescue.

TELECOM ITALIA (TIM)

A board meeting of Italy’s biggest phone group will discuss on Wednesday a partnership with Google for the data center business and ongoing negotiations for a tie-up with rival Open Fiber, daily Corriere della Sera reported on Wednesday.

ATLANTIA

The Italian infrastructure group will split its business into two units and will change its governance structure naming two CEOs, one responsible for Italy and Europe, the other for business outside of Europe, daily la Repubblica reported on Wednesday.

TENARIS

The steel pipe maker said on Wednesday that the U.S. Department of Justice has closed an investigation over Tenaris’ proposed acquisition of IPSCO Tubulars, the U.S. subsidiary of Russian oil and gas pipemaker TMK.

MONTE PASCHI DI SIENA

The board of directors appointed Marco Giorgino as lead independent director of the bank.

JUVENTUS FC

Ends capital increase.

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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