July 5, 2018 / 4:02 AM / a month ago

Italy - Factors to watch on July 5

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 .

(*) ECONOMY

Italy will ask the European Union for greater leeway on public investments and reforms, its deputy prime minister, Luigi Di Maio, told a newspaper on Thursday, adding that all member states should have the same fiscal and welfare systems.

COMPANIES (*) GENERALI

Italy’s biggest insurer said on Thursday it would sell 89.9 percent of its German life insurance portfolio to Viridium in a deal that would value the company at up to 1 billion euros.

ATLANTIA

The infrastructure group said on Wednesday it secured a five-year loan worth 1.75 billion euros ($2 billion) to refinance the acquisitions of Spain’s Abertis and Germany’s Hochtief, a deal sealed with builder ACS and aimed at creating the biggest motorway operator in the world.

BANKING SECTOR

The Italian government has asked the European Commission to extend by a further six months a guarantee scheme aimed at easing the disposal of bad loans, two government sources said on Wednesday. (*) Economy Minister Tria has signed the decree needed to grant the guarantee scheme to a 2.92 billion euro senior tranche of a wider 24.1 billion euro securitisation operation by Monte dei Paschi di Siena, Il Sole 24 Ore reported. Italy’s ICCREA Bank should be the next in line, the report added.

(*) TELECOM ITALIA (TIM)

Chief Executive Amos Genish is examining the project of a single Italian optic fiber company which would be created merging TIM’s network with that of Open Fiber, jointly owned by state lender CDP and Enel, la Repubblica reported. The new company would converge into Flash Fibre, a joint venture created by TIM and Fastweb in 2016 and in which TIM holds an 80 per cent controlling share, the report added.

UBI, BANCA CARIGE

UBI’s head of the supervisory board said there was nothing on the table regarding a possible merger with Banca Carige.

MEDIASET, TELECOM ITALIA

An Italian court will likely decide after the summer whether French media group Vivendi needs to reduce its stake in Telecom Italia or Mediaset to prevent a concentration of power, two legal sources said on Wednesday. One of Vivendi’s lawyers did not rule out a possible complaint to the European Commission on the issue.

LEONARDO

Europe’s ATR is urging the Trump administration to unblock the export of about six regional planes to Iran, warning of “serious damage” to its finances from the breakdown of deals negotiated with Washington’s approval before a change of foreign policy. ATR is co-owned by Airbus and Leonardo.

REPLY

The digital services group intends to grow further through mergers and acquisitions with a focus on Europe and the U.S., the company’s chairman and co-CEO told Reuters on Wednesday.

(*) ENI

Credit Suisse raised on Thursday its target price to 18.2 euros per share from 18 euros.

Barclays raised on Thursday its target price to 19 euros per shares from 18.50 euros per share.

(*) FIAT CHRYSLER

Jefferies raised on Thursday its rating to “buy”, and cut its target price to 20 euors.

(*) ORSERO

The group aims to invest in the fresh cut market and in the dried fruit sector, MF reported.

GRUPPO WASTE ITALIA

Ordinary shareholders’ meeting (1500 GMT).

JUVENTUS FC

Cristiano Ronaldo has received an offer to leave Real Madrid and join Italian champions Juventus, a source close to the player told Reuters on Wednesday. Juventus declined to comment when contacted by Reuters, while Real Madrid said: “Our official comments are made through our official media channels.” (*) Ronaldo’s agent is expected to meet Real Madrid’s president Florentino Perez on Thursday, several dailies reported. (*) Real Madrid would not be ready to sell Cristiano Ronaldo unless it finds a substitute, Corriere della Sera reported, which estimates that the deal could be worth an overall 400 million euros.

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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