December 3, 2019 / 5:03 AM / 3 days ago

Italy - Factors to watch on Dec. 3

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 .

(*) POLITICS

Prime Minister Giuseppe Conte told parliament on Monday a contested reform of the euro zone’s bailout fund was in Italy’s national interest, but that it should only be adopted as a package alongside other measures.

ECONOMY

Italy’s state sector budget posted a 1.3 billion euro surplus in November compared to a 4.18 billion euro deficit in the same month of 2018, due to deferred payments of certain taxes, the Treasury said on Monday. (*) The U.S. government said on Monday it could slap additional duties of up to 100% on $2.4 billion in French imports after concluding that a new French digital services tax would harm U.S. tech companies. U.S. Trade Representative Robert Lighthizer said the U.S. government was exploring whether to open similar investigations into the digital services taxes of Austria, Italy, and Turkey.

(*) UNICREDIT

Italy’s biggest bank said on Tuesday it would shed 8,000 jobs to reduce costs by 1 billion euros in Western Europe under a new plan to 2023, while improving returns for shareholders.

UniCredit said on Monday the European Central Bank had set the bank’s minimum core capital threshold for next year at 9.84% of assets, after improving its risk evaluation of Italy’s biggest lender.

It said the SRB updated MREL requirement was 10.67%.

MEDIOBANCA

Milan prosecutors have opened an investigation into the purchase of a stake of just under 10% in investment bank Mediobanca by billionaire tycoon Leonardo Del Vecchio, two sources with knowledge of the matter said on Monday.

FIAT CHRYSLER

New car sales in Italy rose 2.17% in November from a year earlier, the Italian Transport Ministry said on Monday.

GEDI, CIR, EXOR

Italy’s Exor, the holding company of the Agnelli family, has agreed to buy a stake in GEDI before launching a takeover bid on the company, which publishes prominent daily newspaper La Repubblica.

ENEL

Italy’s biggest utility Enel ENEI.MI has joined a race with at least five other bidders to buy the Renvico wind farm portfolio in Italy and France being sold by a Macquarie-run infrastructure fund, three sources said on Monday.

(*) MEDIASET

The bosses of Mediaset and ProSiebenSat.1 Media held what sources on both sides called constructive talks on Monday, in the first top-level meeting since the Italian broadcaster took a 15% stake in its German counterpart.

An Italian judge will hear Vivendi’s request to block Mediaset’s pan-European television project on Dec. 6, the Italian broadcaster said on Monday, after the companies failed to settle their differences out of court last week.

CNH INDUSTRIAL

The group’s truck unit Iveco on Monday joined the alternative propulsion party as it unveiled its first electric vehicle, which it will build in partnership with U.S. startup Nikola Motor Co.

(*) CATTOLICA ASSICURAZIONE

Some minority shareholders, who disagreed with the board decision of removing chief executive Alberto Minali, are planning to call for a shareholder meeting to oust the current board, Il Corriere della Sera and Il Sole 24 Ore reported.

(*) CARIGE (shares suspended from trading)

The troubled Italian lender’s capital increase is expected to start on Wednesday and last until Dec. 20, Il Messaggero reported.

Il Sole 24 Ore said that it is still unclear whether Italy’s market watchdog Consob will give its go ahead to the Carige’s capital increase prospectus on Tuesday.

(*) ENAV

Chief executive Roberta Neri told Il Sole 24 Ore that the group aims to make a bid for managing air navigation services in 12 Spanish airports.

(*) ALITALIA (not listed)

Italy freed up funds for loss-making airline Alitalia on Monday as Rome struggles to find investors to keep it afloat.

DIARY

Milan, European Commissioner for budget and human resources Guenther H. Oettinger gives speech on “The future of the European Union” at Vigoni Lecture 2019 (1800 GMT).

Rome, Prime Minister Giuseppe Conte meets associations of disabled people (0800 GMT).

Rome, Economy Deputy Minister Antonio Misiani expected to attend conference on energy efficiency (1300 GMT).

Rome, Labor Minister Nunzia Catalfo attends report presentation on “The employment inclusion of people with disabilities in Italy” (1430 GMT).

Turin, CNH Industrial presents strategic partnership between its Iveco unit and U.S. Group Nikola with CNH CEO Hubertus Muhlhauser.

Rome, “5G Italy, the global meeting in Rome” starts (0800 GMT); ends on Dec. 5. Expected attendees include Innovation Minister Paola Pisano, Open Fiber Chairman Franco Bassanini, INWIT CEO Giovanni Ferigo.

Rome, news conference to present new report on disability with social security agency INAIL President Franco Bettoni, ISTAT President Gian Carlo Blangiardo (0830 GMT).

Milan, UBS holds round-table discussion on prospects for the coming decades with 2001 Economy Nobel Prize winner Michael Spence, FinecoBank CEO Alessandro Foti (1010 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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