February 26, 2018 / 5:01 AM / 3 months ago

Italy - Factors to watch on Feb. 26

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 .

DEBT

Treasury sells 6.0 billion euros 6-month BOT bills. Subscriptions close at 1000 GMT.

(*) FIAT CHRYSLER

Fiat Chrysler plans to eliminate diesel from all its passenger vehicles by 2022, amid a collapse in demand and spiralling costs, the Financial Times reported on Monday. (*) BANCA CARIGE

New shareholders could soon announce their investments in the lender’s capital, Affari&Finanza/la Repubblica reported on Monday in an unsourced report.

TELECOM ITALIA

The project to create a joint venture between Telecom Italia (TIM) and the pay-TV arm of its biggest shareholder, French media group Vivendi, is an “uphill struggle” but the project is not dead, a source familiar with the matter said.

The board of Telecom Italia on Friday voted in favour of the only official offer it received for its stake in broadcasting unit Persidera but left the door open to consider any other binding bids that may be presented.

A fairness opinion commissioned by Telecom Italia values Persidera at just below 260 million euros, Il Sole 24 Ore reported on Saturday. The paper said publisher GEDI, a 30 percent shareholder in Persidera, opposed F2i and Rai Way’s offer. However, rival bidder I Squared Capital could lower its 290 million euro offer after a due diligence, Il Sole said.

A decision to freeze the proposed joint-venture with Canal+ has come from Vivendi, which communicated it to Telecom Italia on Wednesday evening, Il Sole 24 Ore reported on Saturday. The paper said behind Vivendi’s move there could only be a desire to wait until after the March 4 vote to be able to assess Silvio Berlusconi’s real power. (*) It is very positive that Open Fiber has started building a broadband in Italy, competing with Telecom Italia, Vittorio Colao, CEO of Vodafone group told Affari&Finanza/la Repubblica on Monday. Colao added that Telecom Italia should open the board of the company that will own its network to other telecoms.

INTESA SANPAOLO

Intesa Sanpaolo is ready to take part in financing the Nord Stream-2 gas pipeline but needs clarity about sanctions, RIA news agency on Sunday quoted the head of Intesa’s Russian business, Antonio Fallico, as saying.

ENI

Libya’s National Oil Corporation said on Saturday it had declared force majeure on the 70,000 barrels per day Feel oilfield after a protest by guards closed the field.

(*) CARRARO

The group could restart paying dividends on its 2017 results, its CFO Enrico Gomiero told L’Economia/Il Corriere della Sera on Monday.

(*) IMA

The group aims at reaching sales worth 2 billion euros by 2020, Affari&Finanza/la Repubblica reported on Monday.

GEOX

The Italian shoemaker expects its profitability to continue to grow in 2018 under new CEO and former Gucci top executive Matteo Mascazzini, as it overhauls its product range and stores, the company said on Friday.

LUXOTTICA

The board of the eyewear group meets on Monday to approve final 2017 results after Luxottica reported last month a 0.8 percent rise in sales to 9.16 billion euros.

Brazil’s competition watchdog Cade on Friday approved without restrictions Luxottica’s merger with French lens manufacturer Essilor, the Brazilian government said in its official bulletin on Friday.

MONTE DEI PASCHI DI SIENA

Economy Minister Pier Carlo Padoan told La Stampa on Saturday that the Tuscan bank was on the right track, adding there were no plans to merge it with a rival but the sector in general was headed for consolidation.

CATTOLICA ASSICURAZIONI

CEO Alberto Minali told Boersen Zeitung in an interview on Saturday the insurer did not rule growing through acquisitions in the future as the industry consolidated, though at present Cattolica was focused on executing its new business plan.

TOD’S

Italian luxury brand Fay, part of the Tod’s group TOD.MI, showcased its first collection under new designer Arthur Arbesser on Saturday at Milan’s Fashion Week.

SALVATORE FERRAGAMO

Salvatore Ferragamo’s creative director Paul Andrew made his debut on Saturday with a soft, elegant collection, giving a contemporary twist to the luxury group’s identity.

MONCLER

Board meeting on FY results, followed by conference call.

PIRELLI & C

Board meeting on FY results. Newspapers on Sunday underlined how the group will enlarge its board to 15 members and introduce governance that guarantees the “Italian-ness” of the company.

SNAM

The company said it had signed the final agreements for the acquisition of a 82 percent controlling stake in TEP Energy Solution.

CERVED

Board meeting on FY results, followed by conference call.

SOGEFI

Board meeting on FY results.

AUTOSTRADE MERIDIONALI

Board meeting on FY results.

ALFIO BARDOLLA TRAINING GROUP

Board meeting to approve 2018 budget.

EPS EQUITA PEP SPAC

Ordinary and extraordinary shareholders’ meetings (1000 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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