July 4, 2019 / 4:04 AM / in 13 days

Italy - Factors to watch on July 4

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 .

DEBT

Italian 10-year bond yield spread over Germany narrowed to 198 basis points on Wednesday, the lowest in over a year, as investors cheered EU’s reprieve over Rome’s public finances.

FIAT CHRYSLER AUTOMOBILES

The Italian-American carmaker on Wednesday reported a 4% fall in total June auto sales in Canada.

The company appointed former CEO of NIKE’s Converse Davide Grasso as Chief Operating Officer of Maserati and Harald Wester as Executive Chairman of its luxury brand.

MEDIASET

(*) Hostile shareholder Vivendi has asked a Milan court to annul the resolutions approved by a shareholder meeting of the Italian broadcaster in April, including a loyalty share scheme, the Milan-based company said on Thursday. The court will hold its first hearing on November 26.

Mediaset’s board of directors will decide on July 25 upon a Vivendi request to call a new extraordinary’s shareholder meeting to revoke a loyalty share scheme, Il Sole 24 Ore daily reported on Thursday.

The French conglomerate has filed a complaint with Italy’s market watchdog Consob saying it had been prevented from exercise its voting rights, Il Sole said.

EDISON

Israel-focused gas driller Energean said on Thursday it will buy Italian energy group Edison’s EDNn.MI oil and natural gas unit for an initial consideration of $750 million.

UNICREDIT

The Italian biggest bank by asset sold a portfolio of Bosnian non performing loans to B2 Kapital, the bank said on Thursday. The portfolio has a nominal value of about 24.5 million euros.

CARIGE

The Italian government does not plan a nationalisation of the troubled lender, Il Sole 24 Ore daily reported on Thursday, citing 5-Star Movement sources.

State-backed lender Credito Sportivo may be included in the rescue plan by underwriting a Tier2 bond worth 150 million euros, Il Sole 24 Ore added.

MF newspaper said on Thursday two mid-sized Italian banks expressed interested in taking part in the Carige rescue plan as the government is considering incentives for suitors.

CNH INDUSTRIAL

The business plan of the truck and tractor maker include targeted acquisitions, CEO Hubertus Muhlhauser told in an interview with La Stampa newspaper on Thursday.

BANKS

How do you value a bank loan on the brink of default in an economy flirting with recession? As it prepares to commit to buying billions of euros of such loans in Italy by mid July, U.S. hedge fund Davidson Kempner Capital Management has deployed legions of number crunchers to find out.

ITALIAONLINE

Libero Acquisition and Sunrise Investments filed on Wednesday with market regulator Consob a voluntary tender offer on all of Italiaonline shares except those owned by Libero and treasury shares and on saving shares.

BPER BANCA

Extraordinary shareholder meeting to approve up to 171 million euro capital increase and up to 150 million euro Additional Tier 1 bond issue both reserved for banking foundation Fondazione di Sardegna (0700 GMT).

DIARY

Rome, Prime Minister Giuseppe Conte receives Russian President Vladimir Putin (1415 GMT), followed by joint news conference.

Rome, Economy Minister Giovanni Tria speaks before Senate Budget and Finance committees on outcomes of Ecofin meeting (1300 GMT).

Rome, Authority for energy, networks, environment ARERA presents annual report (0900 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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