June 17, 2020 / 4:05 AM / 16 days ago

Italy - Factors to watch on June 17

The following factors could affect Italian markets on Wednesday.

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 .

CORONAVIRUS

Deaths from the COVID-19 epidemic in Italy climbed by 34 on Tuesday, against 26 the day before, the Civil Protection Agency said, while the daily tally of new cases declined to 210 from 303 on Monday.

DEBT

Italy’s Treasury said on Tuesday it would sell new tranches of two BTP bonds maturing on Dec. 1, 2028 and March 1, 2032 and one CCTeu note maturing on July 15, 2023 on Wednesday in a bond sale reserved for specialists.

ECONOMY

ISTAT releases April orders and sales data (0800 GMT).

ATLANTIA

Italian Prime Minister Giuseppe Conte said on Tuesday that a proposal by Atlantia to settle a dispute over its concession to run the country’s motorways was not good enough and the dossier must be closed quickly.

Conte will likely organise a summit this week to discuss all the options available regarding Autostrade’s motorway concession, Transport Minister Paola De Micheli said on Tuesday, speaking at a talk show broadcasted by RAI TV.

Italy’s antitrust watchdog has opened an investigation into Atlantia’s motorway unit to verify whether the company had properly communicated to customers that they could be reimbursed in case of poor service on the network it manages.

FIAT CHRYSLER AUTOMOBILES

Industry-wide European passenger car sales slumped in May but the drop was not as sharp as in the previous month because of an easing of restrictions imposed to contain the coronavirus pandemic, data showed on Wednesday.

INTESA SANPAOLO, UBI

Italy’s insurance regulator on Tuesday gave its green light to Intesa’s deal for UBI and will likely communicate it to the bank on Wednesday, two sources familiar with the matter said.

Intesa has written to UBI’s directors to complain that CEO Victor Massiah has tried to prevent or delay the launch of Intesa’s exchange offer for UBI, la Repubblica reported. Intesa has also sent a copy of the letter to Consob and the Bank of Italy and is threatening to seek damages from UBI board members for backing such moves, the paper added.

ENEL, TELECOM ITALIA

Macquarie’s offer for Open Fiber is “very high”, la Repubblica reported adding the Australian fund could soon start a due diligence process to get to a binding bid.

Macquarie would only invest if the plan for a single broadband network goes through and the network is run by a wholesale-only player and not a vertically integrated one as is the case with Telecom Italia, Il Sole 24 Ore said.

NEXI

Merger talks between the Italian payments group and rival SIA have entered a crucial stage as advisers start discussing valuations and the exchange ratios of a merger, Il Sole 24 Ore reported.

(*) BPER BANCA, BANCA POPOLARE DI SONDRIO

Credit rating agencies will publish in the coming days the ratings assigned to notes to be issued under two state-backed securitisations of bad debts which BPER Banca and Popolare di Sondrio are preparing to launch, MF reported.

FINCANTIERI

The Italian shipbuilder’s sale of two warships to Egypt still needs to be approved by UAMA, an agency of Italy’s foreign ministry in charge of weaponry authorisation, la Repubblica said. UAMA has already approved the closing of the deal and soon there will be a green light for export, the paper added, citing a government source.

CNH

CNH Industrial said on Tuesday that Fitch Ratings had affirmed the long-term ratings of CNH Industrial N.V. and CNH Industrial Capital LLC at ‘BBB-‘ and changed the Outlook to “stable” from “positive”.

IPO

Italian filter maker GVS said on Tuesday it had successfully completed its initial public offering, adding the IPO price had been set at 8.15 euros per share.

ITALIAN EXHIBITION GROUP

The group has given mandate to its chairman and CEO to look into a possible integration with Bologna Fiere.

STMICROELECTRONICS

Annual general meeting (0900 GMT).

DIARY

Brussels, deadline set by EU Antitrust authority for preliminary review of FCA/PSA merger deal.

Rome, Prime Minister Giuseppe Conte speaks before Chamber of Deputies (0700 GMT) and Senate (0930 GMT) ahead of European Council meeting to be held June 18 and 19.

Bank of Italy Director General Daniele Franco attends via videoconference presentation of “Regional Notes for Trento and Bolzano provinces” (1430 GMT).

Italian Banking Association (ABI) holds executive committee meeting (0800 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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