July 11, 2018 / 4:03 AM / a month ago

Italy - Factors to watch on July 11

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 (*) Italy is not considering any “plan B” to leave the euro zone, Deputy Prime Minister Luigi Di Maio said on Wednesday.

BlackRock’s Global Chief Investment Strategist Richard Turnill said on Tuesday the populist Italian government and recent tensions over immigration policies raised the risk of European fragmentation, but he said he expected the euro zone to muddle through this year.

Justice Minister Alfonso Bonafede speaks before the Senate Justice Committee (0700 GMT) and before the Chamber of Deputies Justice Committee (1200 GMT).

Deputy Prime Minister and Industry and Labour Minister Luigi Di Maio speaks before the Senate Industry Committee (0900 GMT).

Chamber of Deputies Speaker Roberto Fico meets Facebook EMEA Deputy Chairman for Public Policy Marcus Reinisch (1600 GMT).

Deputy Prime Minister and Interior Minister Matteo Salvini meets Prime Minister Giuseppe Conte ahead of EU interior ministers meeting to be hold in Innsbruck.

Environment, Territory and Sea Minister Sergio Costa speaks before Senate Environment Committee (1200 GMT).

ECONOMY

BlackRock presents “Mid Year Market Outlook 2018” in Milan (0830 GMT).

DEBT

Treasury sells 6.0 billion euros 12-month BOT bills. Subscriptions close at 0900 GMT.

JUVENTUS FC

Five-times world player of the year Cristiano Ronaldo has signed for Italian champions Juventus from Real Madrid, the La Liga club said in a statement on Tuesday.

Juventus are paying Real Madrid 100 million euros for Cristiano Ronaldo, the Italian soccer club said on Tuesday.

ENI

The Italian oil major has pulled out of a race to buy Terra Firma’s solar power assets in Italy, a company spokesman told Reuters on Tuesday.

BANCA CARIGE (*) Shareholder Raffaele Mincione has authorisation to increase its stake in the bank to 9.9 percent and it’s possible he may exercise that right before the shareholder meeting expected in September, MF said. (*) Mincione told La Stampa he always believed the right time for a merger for Carige was 18 months, but now is convinced there is need to accelerate, according to comments the businessman gave the paper from London. Asked about possible merger candidates for the bank, Mincione mentions Banco BPM, Bper and UBI”. (*) Corriere della Sera adds Mincione would prefer a tie-up with an Italian rival. (*) Mincione is sounding out other investors to get their support ahead of the shareholder meeting, various papers said.

(*) FINCANTIERI

The company is said to be taking part in a tender for a 20 billion euro contract in the United States, Corriere della Sera said, citing rumours.

(*) TELECOM ITALIA, ENEL

TIM CEO Amos Genish has met with his counterpart at Enel, Francesco Starace, last week to discuss a possible merger between TIM’s network assets and Open Fiber, Il Sole 24 Ore said. Starace reiterated his willingness to collaborate but says no to a merger, the paper added.

FIAT CHRYSLER

Nine of eleven new models planned for Europe will be produced in Italy, the carmaker told unions, according to several media reports. The company also reaffirmed that parts unit Magneti Marelli was not for sale, Il Messaggero added.

ITALIA INDEPENDENT

The group said that a total of 945,125 ordinary shares were subscribed at 4 euros per share during an offer period.

ASKOLL EVA

Debuts on AIM segment.

BF

Extraordinary shareholders’ meeting (0900 GMT).

EXPERT SYSTEM

Ordinary and extraordinary shareholders’ meetings (0730 GMT).

M&A, AC MILAN

U.S. hedge fund Elliott Management said on Tuesday it has assumed control of indebted Italian soccer club AC Milan and will inject 50 million euros ($59 million) to help stabilize the club’s finances.

Italian businessman Riccardo Silva has joined the race to take over AC MILAN, entering talks with Elliott Management over acquiring a stake, the FT said.

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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