February 28, 2018 / 5:00 AM / 10 months ago

Italy - Factors to watch on Feb. 28

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 .

ECONOMY

ISTAT releases February flash CPI and HICP data (1000 GMT).

Reuters releases February asset allocation poll (1200 GMT).

SALVATORE FERRAGAMO

The Italian luxury goods group said on Tuesday Eraldo Poletto would be stepping down from his position as chief executive, after less than two years in the job.

PRYSMIAN

The Italian cable maker reported a 3.1 percent rise in 2017 core earnings on Tuesday, broadly meeting its target for a year which ended with a deal to buy U.S. rival General Cable.

(*) Barclays cut its target price on the stock to 29 euros from 31 euros.

(*) TELECOM ITALIA, TIM PARTICIPACOES

Brazilian telecommunications companies Oi SA and TIM Participacoes SA said on Tuesday they had signed a memorandum of understanding to share infrastructure.

Raiway-F2i are unwilling to extend their binding offer for Telecom Italia’s Persidera unit beyond Friday, while a rival manifastation of interest from U.S. fund I Squared is not ready, Il Sole 24 Ore said.

(*) FIAT CHRYSLER

The carmaker has launched the process to choose the legal advisors for the planned spin-off of parts maker Magneti Marelli, with Legance cited to be in pole position, Il Sole 24 Ore said, citing rumors.

(*) LEONARDO

The defense group is in advanced talks with Qatar for the sale of 22 Nh90 military choppers, Il Sole 24 Ore said, citing “authoritative” sources. The whole deal is worth more than 3 billion euros, out of which 40 percent - or at least 1.2 billion euros - could go to Leonardo, the paper added.

The company, through its Drs subsidiary, is also bidding in a $16 billion U.S. tender for the supply of 350 T-X aircraft for the U.S. Air Force, MF said.

DAVIDE CAMPARI

Italy’s Campari on Tuesday reported rising sales and profitability in 2017, thanks to strong demand for its bright-orange Aperol liqueur and eponymous red bitter, but subdued guidance for the current year weighed on its shares. (*) RBC cuts its target price on the stock to 6.8 euros from 7 euros. (*) Investec cut the stock to ‘sell’ from ‘hold’, reduced target prict to 5.85 euros from 7 euros.

SAFILO GROUP

The Italian eyewear group said on Tuesday it would ask its board at a March 13 meeting to approve booking a goodwill impairment of between 190-200 million euros into last year’s accounts.

BANCA CARIGE

The Genoa-based bank called on Tuesday for shareholders to meet on March 29 to approve 2017 results. (*) Market regulator Consob is looking into why Chairman Giuseppe Tesauro has not informed the bank’s board of a request, presented last week by new third-largest shareholder Raffaele Mincione to be represented on the board, several papers said.

(*) MONCLER

Morgan Stanley raised its target price on the stock to 29.50 euros from 27 euros.

Exane BNP Paribas raises stock to ‘neutral’ from ‘underperform’, ups target price to 27 euros.

Jefferies raises its target price on the stock to 33 euros from 31 euros.

DIGITAL BROS

Board meeting on H1 results.

JUVENTUS

Board meeting on H1 results.

MASSIMO ZANETTI

Board meeting on FY results, followed by conference call (1645 GMT).

PIAGGIO

Board meeting on FY results, followed by conference call.

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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