June 14, 2019 / 6:20 AM / 11 days ago

Italy - Factors to watch on June 14

The following factors could affect Italian markets on Friday.

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’s Treasury is studying an 8-10 billion euro reduction of the structural deficit between this year and the next in an attempt to avert an EU disciplinary procedure over public finances, Il Sole 24 Ore reported.

Prime Minister Giuseppe Conte will send a letter to the European Commission on Friday saying the government is determined to avoid disciplinary steps due to the country’s high debt but has no plans for a budget correction.

ECONOMY

ISTAT releases April industry orders and sales data (0800 GMT) and May CPI and HICP final data (0900 GMT).

FIAT CHRYSLER

The CEO of Fiat Chrysler flew to Paris on Thursday to look into the possibility of reopening a dialogue with Renault over merger plans which recently collapsed, Corriere della Sera said.

French Finance Minister Bruno Le Maire has renewed his confidence in Renault chairman Jean-Dominique Senard. (*) FCA said on Friday it had signed a partnership with Enel X and Engie Group over charging solutions for the carmaker’s upcoming lineup of electric vehicles.

ASTM, SIAS

Italian motorway infrastructure companies ASTM and SIAS said on Thursday they had agreed to merge in an effort to streamline operations and make them more competitive.

UBI

Foreign investors have taken up 55% of a 500 million euro ($564 million) “senior non-preferred” (SNP) bond issued on Thursday by Italy’s fifth-biggest lender.

CARIGE

The special commissioners running the troubled bank and advisers are keen to have offers from potential buyers before the end of July, MF said. At the moment those interested are Blackstone, Warburg Pincus and Apollo with Varde a more distant suitor, the paper said. Corriere della Sera said Warburg and Apollo could make a joint bid.

ASCOPIAVE, HERA

Regional utility Hera is in pole position in the race to win the retail gas and power portfolio being sold by smaller peer Ascopiave, Il Sole 24 Ore said. Hera values the portfolio at more than 600 million euros, it said.

PRYSMIAN

The company is much less worried about technological hitches at the Western Link project than in the past because tests showed faults so far had been caused by simple mechanical damage during installation, the CEO told Il Sole 24 Ore. He said offshore work and the U.S. market would be drivers to boost orders. Acquisitions are off the table while debt remains above 1 billion euros, he said, adding there could be small disposals.

(*) FINCANTIERI

The group is due to sign a military shipbuilding joint-venture with France’s Naval Group on Friday.

Annual general meetings: CSP INTERNATIONAL (0700 GMT), FINTEL ENERGIA GROUP (1300 GMT).

DIARY

Fabriano, European Parliament President Antonio Tajani attends meeting on the result of the 2019 European elections (1600 GMT).

Rome, Prime Minister Giuseppe Conte attends conference on property law (0730 GMT).

Milan, Foreign Affairs Minister Enzo Moavero Milanesi delivers opening address at FT forum on “The future of Europe”; attendees include Saipem Chairman Francesco Caio, UBI Banca CEO Victor Massiah (1130 GMT).

Milan, market regulator Consob holds annual meeting with financial market, President Paolo Savona gives speech (0900 GMT).

Milan, UBI Banca holds conference on “Reflections on the annual reports of the Bank of Italy and Consob” with Chairwoman Letizia Moratti (1500 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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