January 10, 2020 / 5:01 AM / 9 days ago

Italy - Factors to watch on Jan. 10

The following factors could affect Italian markets on Friday.

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

Italy scrambled to salvage diplomatic credibility on Thursday after its bid to play a central role in resolving Libya’s long-running conflict came off the rails, revealing failures at the heart of the government.

ECONOMY

ISTAT releases November industrial output (0900 GMT) and monthly bulletin on the state of the economy in December (1000 GMT).

Bank of Italy releases November data on bank lending and domestic government bond holdings at Italy-based banks.

DEBT

Treasury sells 12-month BOT bills. Subscriptions close at 1000 GMT. (*) Italy’s Treasury said on Thursday it would offer up to 6.75 billion euros ($7.50 billion) over three bonds at an auction on Jan. 14.

MEDIASET

An Italian court has thrown out a request by Vivendi to suspend a ruling forcing it to freeze two-thirds of its stake in Italian broadcaster Mediaset, a court document showed on Thursday. (*) Mediaset has called a shareholder meeting on Friday over governance tweaks needed to ease a pan-European expansion plan which its second-largest investor Vivendi is fighting in court.

Extraordinary shareholder’ meeting (1000 GMT).

(*) ATLANTIA

Infrastructure Deputy Minister Giancarlo Cancelleri, member of the 5 Star Movement, reiterated in an interview in la Repubblica that stripping Atlantia motorway unit Autostrade per l’Italia (ASPI) of its concession was the only option available to the government.

Funds who own shares in Atlantia and its ASPI unit have written to the Italian government expressing great preoccupation with regards to a possible decision by Rome to revoke ASPI’s motorway concession, Il Messaggero reported.

Over 100 motorway tunnel managed by Aspi and a further 90 in the hands of other concessionaires are at risk, according to a document drawn up by a committee of the infrastructure ministry, several dailies reported.

Market regulator Consob has opened a file on Atlantia and could soon meet its managers, MF reported.

MONTE DEI PASCHI DI SIENA

The state-owned bank said on Thursday it expected a 1.2 billion euro ($1.3 billion) net profit hit in the fourth quarter after reducing the value of deferred tax assets on its balance sheet.

Credit rating agency Moody’s said on Thursday it had changed the outlook on Monte dei Paschi to positive from negative.

(*) UBI BANCA, BPER

Some of the shareholders of the banks are looking at the pros and cons of a tie up of the two lenders, MF said, adding nothing so far had arrived on the table of the boards.

NEXI

Mercury UK - a vehicle of private equity firms Bain Capital, Advent International and Clessidra - said on Thursday it was offering shares equal to 7.7% in Italian payment group Nexi to institutional investors.

The deal priced at 11.60 euros per share.

(*) FINCANTIERI

The government is moving ahead with the paper work to approve a contract for the building of 4 submarines by Fincantieri for the navy, Il Sole 24 Ore said, without giving a specific timeframe. The project is worth an overall 2.3 billion euros, it added.

BANCA FARMAFACTORING

A bookrunner said late on Thursday that the offering of Banca Farmafactoring was expected to price at 5.20 euros per share and added that the final transaction was expected to be about 18.7 million of shares, Block Trade reported.

BANCA CARIGE

Fitch Ratings has upgraded Banca Carige Long-Term Issuer Default Rating to ‘B-‘ from ‘CCC’. The Outlook on the Long-Term IDR is Stable. Fitch has also upgraded the bank’s Viability Rating (VR) to ‘b-‘ from ‘f’.

AEROPORTI DI BOLOGNA

The group reported that passengers in 2019 rose 10.6% year-on-year at 9.4 million.

SANLORENZO

The yacht maker said on Thursday that the greenshoe option had been partially exercised by the joint global Coordinators at a price of 16 euros per share.

DIARY

Rome, Economy Minister Roberto Gualtieri speaks before Chamber of Deputies Finance Committee on law decree to rescue bank Banca Popolare di Bari (0830 GMT).

Rome, Economy Ministry expected to hold meeting on the future of ILVA steel plant with representatives of Intesa Sanpaolo, Banco BPM, state lender Cassa Depositi e Prestiti.

Milan, Economy Ministry Roberto Gualtieri attends event (1700 GMT).

Rome, Poste Italiane holds news conference to present initiatives in the occasion of 700-year anniversary of poet Dante Alighieri’s death, with Culture Minister Dario Franceschini, Poste Matteo CEO Del Fante (1000 GMT).

Milan, mens’ fashion shows for the 2020/2021 Fall/Winter collections start; end on Jan. 14.

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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