July 30, 2018 / 4:02 AM / 3 months ago

Italy - Factors to watch on July 30

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 .

POLITICS

A referendum on whether Italy should leave the euro currency is not in the governing coalition’s contract and will not be pursued, Deputy Prime Minister and leader of the 5-Star Movement Luigi Di Maio said in a published interview.

ECONOMY

Assogestioni expected to release June fund flows data.

DEBT

Treasury sells BTP and CCTeu bonds. Subscriptions close at 0900 GMT.

COMPANIES (*) ALITALIA, POSTE ITALIANE

The government will launch soon a new tender to find a partner for the Italian airline, Transport Deputy Minister Armando Siri told Il Messaggero on Monday. The newspaper said the tender would take place in September and the state will keep 51 percent in the carrier. Alitalia could sign a partnership with Ferrovie dello Stato or Poste Italiane or Cassa Depositi e Prestiti, the paper said.

(*) MEDIOBANCA

The retail division CheBanca! will reach 1 million of clients by 2020, CEO Gian Luca Sichel told L’Economia/Il Corriere della Sera.

FINCANTIERI

The ship building company would be interested in ThyssenKrupp’s submarine unit if the German company decided to sell it, Fincantieri’s CEO Giuseppe Bono told analysts on a post-results call, according to Il Sole 24 Ore on Saturday. (*) Italy and France are discussing about a cross shareholding of 10 percent between Fincantieri and Naval Group, Affari&Finanza/La Repubblica said on Monday.

MEDIASET

The private broadcaster said on Friday its advertising revenues in Italy in the months between January and June rose 4 percent year-on year, lifted by the World Cup, despite posting a 43 percent drop in first-half net profit.

The company said first-half revenues from the pay-TV business fell to 267.1 million euros from 299.7 million euros, a slide showed.

Chief Financial Officer Marco Giordani said he expected performance in the second half of the year to be “certainly better” than in the first six months, also due to the agreement with Sky.

Giordani added that cash available at year-end would be distributed if no investments under discussion at the time.

Mediaset said the deal with Perform’s DAZN would help retain pay-TV customers without any cost.

The broadcaster said it had terminated the contract with Fedele Confalonieri as an employee and manager but the latter would remain chairman of the company.

AUTOGRILL

The Italian travel caterer cut its outlook for this year after restructuring charges and higher labour costs in North America dented its first-half results.

FIAT CHRYSLER

Italy’s market regulator Consob is carrying out routine checks on Fiat Chrysler’s share price performance and the way the company informed the market about the health crisis of its former CEO Sergio Marchionne, two sources close to the watchdog said on Friday.

The carmaker has called a shareholder meeting for Sept. 7 to vote on the proposed appointment of Michael Manley as executive director.

Various papers name Pietro Gorlier, head of parts maker Magneti Marelli, as a serious contender to succeed Alfredo Altavilla as head of the Europe, Middle East and Africa region.

FERRARI

Ferrari are well placed to keep pushing in Formula One without late chairman Sergio Marchionne, even if his shoes are impossible to fill, Mercedes team boss Toto Wolff said on Friday.

The company has called a shareholder meeting for Sept. 7 to vote on the proposed appointment of Louis Camilleri as executive director.

INTESA SANPAOLO

The lender is seeking to sell a portfolio of 250 million euros worth of non-performing loans related to photovoltaic plants in Italy, Il Sole 24 Ore said on Saturday, adding the deal had attracted interest from financial parties and groups specialised in renewable energy. The paper names Luxemburg-based WRM and U.S. fund Fortress as possible interested parties.

Another deal on Intesa’s table is the sale of a 250 million-euro portfolio of unlikely to pay loans, the paper added.

LEONARDO

Board meeting on H1 results.

HERA

Board meeting on H1 results.

SARAS

Board meeting on H1 results, followed by conference call (afternoon).

TREVI

The company said on Saturday its board had met to evaluate the binding offer presented by Bain Capital Credit (BCC) regarding Trevi’s equity and debt restructuring and identified some elements “to be further explored”. The board has given a mandate to Chief Restructuring Office Sergio Iasi to verify whether the offer can be improved and whether conditions exist to engage in exclusive talks with BCC and start negotiations. The board has also decided to suspend the payment of interest on a bond issued on July interest on the bond issued on July 28, 2014.

ITALGAS

Board meeting on H1 results, press release on July 31.

PIQUADRO

Trade ex-dividend of 0.06 euro per share.

Board meeting on H1 results: CALTAGIRONE EDITORE, CERVED GROUP followed by conference call, MOLMED .

Extraordinary shareholders’ meeting: CALEIDO GROUP (0800 GMT), KI GROUP (0900 GMT).

M&A, ALITALIA

The airline’s consolidated net loss stood at 315.2 million euros in the first six months of the year, down from a loss of 527.6 million euros in the same period last year, Il Sole 24 Ore said on Saturday, citing an internal document.

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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