July 11, 2019 / 4:04 AM / 6 days ago

Italy - Factors to watch on July 11

The following factors could affect Italian markets on Thursday.

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

A tax Italy is looking to impose on cash hidden in safety deposit boxes would target only up to 50 percent of the sum declared, Junior Minister Massimo Bitonci told Corriere della Sera in an interview.

ECONOMY

Italian state lender Cassa Depositi e Prestiti (CDP) will launch its first Panda bond in the next few days, Economy Minister Giovanni Tria told an Italy-China financial forum on Wednesday.

DEBT

Treasury sells 2.5-3.0 billion euros 1.0% BTP bonds due July 15, 2022 and 2.0-2.5 billion euros 2.10% BTP bonds due July 15, 2026. Subscriptions close at 0900 GMT.

COMPANIES

ATLANTIA, ALITALIA (not listed)

Italy is determined to close a deal to save its ailing flag carrier Alitalia on Monday, with infrastructure group Atlantia seen as a possible investor, Deputy Prime Minister Luigi Di Maio said on Wednesday.

Atlantia is expected to discuss a posssible investment in Alitalia at a board meeting on Thursday.

(*) Atlantia will present a non-binding expression of interest for Alitalia by the end of the week but before injecting cash into the troubled carrier will ask for more time to study its business plan, la Repubblica reported.

TELECOM ITALIA (TIM)

Moody’s changed its outlook on the Italian phone group to ‘negative’ while affirming its ‘BA1’ rating.

FIAT CHRYSLER AUTOMOBILES

The merger proposal made by Fiat Chrysler (FCA) to Renault in May was an “act of courage” but the Italian-American carmaker felt conditions were not right to go ahead, FCA Chairman John Elkann told La Stampa newspaper.

EMEA COO Pietro Gorlier attends event at Mirafiori plant during which the first robot will be installed on the new production line for the new electric Fiat 500 car (0830 GMT).

MEDIASET

French media group Vivendi, an investor in Mediaset, criticised on Wednesday a plan by Italy’s top commercial broadcaster to set up a Dutch holding company to pursue a pan-European growth project.

(*) BANCA MEDIOLANUM

Chief Executive Massimo Doris told Il Sole 24 Ore on Thursday the asset manager was interested in buying a network of financial promoters but no concrete option was currently on the table.

SALINI IMPREGILO

Fitch Ratings has downgraded the Italian engineering and construction company’s long-term rating to ‘BB’ from ‘BB+’. The outlook is negative to reflect “uncertainties and execution risk” stemming from the proposed Astaldi acquisition, Fitch said.

BRUNELLO CUCINELLI

Board meeting to approve first-half preliminary sales.

FERRARI

Repurchase offer on bonds due in 2021 and 2023 ends (1500 GMT)

INDUSTRIAL STARS OF ITALY 3

Ordinary and extraordinary shareholders’ meetings (0815 GMT).

SESA

Board meeting on FY results.

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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