January 13, 2020 / 5:05 AM / 2 months ago

Italy - Factors to watch on Jan. 13

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 .

ECONOMY

ISTAT releases November retail sales data (0900 GMT).

OECD releases November composite leading indicator (1100 GMT).

POLITICS

The results of an upcoming regional vote will not decide the future of Italy’s national government and ruling parties will meet at the end of the month to set the executive’s agenda, Prime Minister Conte said in an interview on Monday.

ATLANTIA

Italy’s finance minister is slowing down a process to revoke the infrastructure group’s motorway concessions as it sees the financial risks linked to a possible legal battle, that could cost Rome at least 7-8 billion euros, daily Il Messaggero said on Saturday.

The Benetton-backed group is preparing to restart an auction process to sell up to 49% of its toll-road payment business Telepass after bids last year valued the entire business at more than 2 billion euros, three sources said.

The main Italian motorway lobby group AISCAT and Atlantia’s toll road unit Autostrade per l’Italia said on Friday that highway tunnels in the country were safe, denying media reports that 200 passages were at risk. (*) Italy’s government will decide soon whether to revoke Atlantia’s motorway concession and it will be based on technical and judicial evaluations, Prime Minister Giuseppe Conte said in an interview with the Corriere della Sera on Monday. (*) A decree to revoke Atlantia’s motorway concession will be ready a cabinet meeting next week but it is not clear whether a decision will be taken before or after a regional vote in Emilia Romagna on Jan. 26, Il Fatto Quotidiano reported on Monday.

PRYSMIAN

The Western Link high-voltage submarine power cable between Scotland and England is currently unavailable after tripping on Friday, the world’s largest cablemaker, which built the link, said on Sunday.

FIAT CHRYSLER, EXOR

The Peugeot family, which will own a 6.2% stake in the new carmaker resulting from PSA and Fiat Chrysler’s merger, aims to increase its holding as soon as possible, a representative said in a newspaper interview.

TELECOM ITALIA, ENEL, INWIT

The CEOs of Telecom Italia (TIM), Italian utility Enel and state lender CDP met after the Christmas holidays in a bid to break the impasse over plans to combine TIM’s and Open Fiber’s network assets, daily la Repubblica said on Saturday. Enel will take the helm of the sale process of its 50% stake in wholesale-only broadband operator Open Fiber as TIM’s plans to find one or more funds to help it buy out Open Fiber “have been stopped”, the report added, without citing sources. Subsequently Open Fiber would combine its fiber assets with INWIT, the tower group into which TIM and Vodafone are folding their infrastructure in Italy, to create a telecom infrastructure champion, la Repubblica added.

MEDIASET

The Italian broadcaster on Friday won shareholder approval for governance tweaks needed to smooth a pan-European expansion plan despite opposition from its second-biggest investor Vivendi , which is fighting the project in court.

INTESA SANPAOLO, BANCO BPM

The two banks, which are creditors of ailing steelmaker Ilva, are taking time after Rome asked whether they could consider investing in Ilva, Il Messaggero said on Saturday.

INTESA SANPAOLO

The lender targets assets under management worth 50 billion euros over the medium term in China, Chairman Gian Maria Gros-Pietro told Il Sole 24 Ore in an interview on Sunday. He said that regulators were pushing for cross-border mergers and discussions were taking place among some bankers but the time was not yet ripe as the European banking union was still incomplete.

BANCO BPM

Massimo Tononi, a former chairman of Banca Monte dei Paschi and of state lender CDP, is a potential candidate to become Banco BPM’s new chairman, MF-Milano Finanza said on Saturday, after Carlo Fratta Pasini said last week he would not reapply for the lender’s new board of directors.

BANKS

A depositor protection fund financed by Italian lenders (FITD) will “take into serious consideration” a request by the economy minister to provide some form of compensation for Popolare di Bari shareholders, the fund’s head told Saturday’s La Stampa, adding Italian banks had always shown “a great sense of responsibility”, though any contribution would be insufficient to cover losses suffered by investors in the rescued cooperative bank.

The FITD fund’s 310 million euro immediate capital injection into Popolare di Bari is enough to guarantee the lender’s stability in the short term, one of the bank’s administrators told Sunday’s Il Messaggero. Antonio Baldini said the bank would now assess the amount of capital needed for its proper long-term functioning.

NEXI

The recent sale of a 7.7% stake in the Italian payment technology group by top shareholder Mercury UK Holdco could be seen as a first step towards a merger between Nexi and payment services group SIA, creating a national champion in the payments sector under the control of Italy’s state lender CDP, Il Sole 24 Ore daily said on Saturday.

HERA

The regional utility will also use M&A and “vertical” joint ventures in specific segments to achieve its target of 3.5 million clients in the energy business, Executive Chairman Tomaso Tommasi di Vignano told Il Sole 24 Ore in an interview published on Saturday. “We’ve got financial flexibility, allowing us to pick eventual opportunities not included in our business plan” he said.

(*) DIASORIN

Chief Executive Carlo Rosa told L’Economia/Corriere della Sera the medical diagnostics group does not need to double its size. He added that the group is not up for sale, as the main shareholder - the Denegri family- has a long-term view for the company.

JUVENTUS, AS ROMA

Cristiano Ronaldo continued his scoring form as Juventus won 2-1 away to AS Roma on Sunday and moved two points clear at the top of Serie A.

SS LAZIO

Rome’s soccer side recorded a club record 10th consecutive Serie A victory by beating Napoli 1-0 on Saturday.

DIARY

Milan, Industry Deputy Minister Stefano Buffagni delivers opening address at a conference on “Presentation of measures and incentives for the enhancement of patents, trademarks and designs” (0830 GMT).

Milan, first of three-day conference “Accountants, professionals facing the challenges of the digital economy” (1330 GMT); ends on Jan. 15. Expected attendees include Deputy Economy Minister Laura Castelli, Economy Ministry Undersecretary Pierpaolo Baretta, Cabinet Undersecretary Mario Turco.

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

Rieti, PD party two-day seminar begins (1000 GMT). Attendees include Economy Minister Roberto Gualtieri, Infrastructure and Transport Minister Paola De Micheli, Culture Minister Dario Franceschini, PD Secretary Nicola Zingaretti.

Ankara (Turkey), Italy’s Prime Minister Giuseppe Conte meets Turkish president Recep Tayyip Erdogan (1300 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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