June 19, 2019 / 4:03 AM / a month ago

Italy - Factors to watch on June 19

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 .

POLITICS

Italy’s Economy Minister Giovanni Tria sought to reassure investors on Tuesday, saying that Rome can avoid European disciplinary action over its budgetary plans by cutting spending, and it would meet its budget deficit target for 2019.

Italy’s public account could benefit from 3 to 4 billion euro ($3.4-$4.5 billion) of lower than expected uptake of welfare measures next year, minister Tria was reported as saying in a interview with the Financial Times on Wednesday.

Italy’s Deputy Prime Minister Matteo Salvini said on Tuesday Rome would press ahead with a plan to settle overdue state payments by issuing mini-bills unless a better solution was put forward.

ECONOMY

ISTAT releases April foreign trade data (0800 GMT)

MEDIASET

Mediaset’s hostile shareholder Vivendi could be excluded from voting at shareholder meetings of a new Amsterdam-based TV company the Italian broadcaster is setting up, according to a bylaw of the new holding.

UNICREDIT

The Italian bank drew 4.3 billion euros in demand for a senior preferred bond with a 6-year maturity and callable after 5 years. The amount issued was 1.25 billion euros.

CREDITO VALTELLINESE

The Italian mid-sized lender said on Tuesday it would shed risky assets and streamline its business in an effort to become more attractive to a potential merger partner.

CARIGE (shares suspended from trading)

Italy’s depositor protection fund FITD holds a board meeting on Wednesday to look at the draft proposal submitted by US fund Apollo, Il Sole 24 Ore said. The board will ask either to improve the offer or to reject it, Il Sole added.

According to Il Messaggero, FITD is going to consider a direct investment in Carige in order to rescue the ailing bank without the help of Apollo. The US fund will present its proposal for the Italian lender to the ECB shortly, the newspaper said.

ENI

A rocket landed at a residential and operations headquarters of several global major oil companies, near Iraq’s southern city of Basra early on Wednesday, wounding two Iraqi workers, police said.

French utility EDF plans to sign up one million clients to its market-based retail offer in the French electricity market as it steps up the fight back against rivals such as Total, Engie and Eni.

(*) SAIPEM

The U.S. administration has told Deputy Italian Prime Minister Matteo Salvini during his Washington visit that the White House considers the Tran Adriatic Pipeline (TAP) of fundamental geopolitical importance and requested that all that is necessary is done to complete it, la Repubblica reported.

LEONARDO

The commissioner of troubled Italian company Piaggio Aerospace will ask suitors to present more comprehensive offers by November after the company received 39 expressions of interest in May, Il Sole 24 Ore reported.

Italian aerospace company Leonardo had said it was interested in Piaggio’s engine and aircraft maintenance business.

ELES

Debuts on AIM segment.

ITALIAN EXHIBITION GROUP

Debuts on Milan stock exchange. Listing ceremony on main bourse segment with Chairman Lorenzo Cagnoni and CEO Ugo Ravanelli (0830 GMT).

NET INSURANCE

Presents 2019-2023 industrial plan update (0830 GMT).

OVS

Board meeting on Q1 results.

Annual general meetings: ALFIO BARDOLLA TRAINING GROUP (0800), NEUROSOFT.

DIARY

Rome, Prime Minister Giuseppe Conte speaks before Senate (0730 GMT) and Chamber of Deputies (1400 GMT) ahead of European Council meeting to be held on June 20-21.

Milan, ISPI holds conference on “Keynes’ theory in Europe and in Today’s World” with Bank of Italy Governor Ignazio Visco (1530 GMT).

Rome, Economy Minister Giovanni Tria delivers opening address at conference on taxation and digitisation (0800 GMT).

Rome, Cabinet meeting (1800 GMT).

Rome, Agriculture Ministry holds news conference on the amusement park industry with Agriculture Minister Gian Marco Centinaio (0900 GMT).

Milan, Bocconi University holds conference with Enel official Carlo Tamburi, A2A CEO Luca Valerio Camerano, ERG CEO Luca Bettonte, energy services manager company GSE CEO Roberto Moneta, regulatory Authority for energy, networks, environment ARERA President Stefano Besseghini (1230 GMT).

Milan, Pirelli CEO Marco Tronchetti Provera attends book presentation (1700 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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