March 12, 2019 / 5:02 AM / a month ago

Italy - Factors to watch on March 12

MILANO, March 12 (Reuters) - The following factors could affect Italian markets on Tuesday.

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 ruling League party gave hesitant backing on Monday to government plans to endorse China’s “Belt and Road” initiative, saying the venture had to boost local businesses and not threaten national security.

ECONOMY

ISTAT releases 2018 Italian regional export data (0900 GMT).

DEBT

Treasury sells 6.5 billion euros 12-month BOT bills. Subscriptions close at 1000 GMT.

TOD’S

Italian luxury goods company Tod’s reported on Monday a bigger-than-expected 26 percent drop in 2018 core profit, hit by a sharp acceleration in marketing expenses and higher costs to strengthen its design teams.

Tod’s CFO Emilio Macellari said on Monday like-for-like sales growth was “probable” in the first half of this year.

TELECOM ITALIA, VIVENDI

Italy said on Monday the Memorandum of Understanding it is drawing up with China does not include any agreement on fifth generation, or 5G, wireless technology. (*) Activist investor Elliott said on Monday it welcomed proxy advisor ISS’ recommendation to vote against Vivendi’s proposal to remove five Elliott-appointed directors at a shareholders’ meeting on March 29.

Vivendi and activist Elliott sparred on Monday over how to relaunch Italy’s debt-laden telecoms group, trading accusations ahead of upcoming TIM shareholder vote.

(*) ENI

Pakistan plans to offer dozens of gas field concessions in the coming year to fill in a fuel shortage, a senior official said. Italy’s ENI and U.S. Exxon Mobil are jointly drilling for gas offshore in Pakistan’s Arabian Sea, but many other Western companies have not returned after leaving more than a decade ago because of Islamist militant violence.

FIAT CHRYSLER

Industry-wide automobile production in Brazil rose 29.9 percent in February from January, while sales slipped 0.6 percent, the national automakers’ association said on Monday.

Fiat Chrysler has reached an agreement with trade unions to renew the contract for 66,000 of its workers in Italy, the Italian-American carmaker said on Monday.

CIR, COFIDE

The two companies controlled by the De Benedetti family have agreed to merge to shorten the chain of command, to increase the size of the float and cut operating costs.

(*) BANCO BPM

Capital Research and Management held a 5.198 percent stake in the Italian bank as of March 5, a regulatory filing said.

(*) SALINI IMPREGILO

The Panama Canal Authority said on Monday that it had received $847 million which a tribunal had ordered a construction consortium, which includes Italy’s Salini Impregilo, to pay it back in a dispute over the waterway’s recent expansion. (*) MAIRE TECNIMONT

The company won orders in the United Arab Emirates and Egypt for a total value of around $360 million, it said in a statement.

BANCA IFIS

The bank’s main shareholder La Scogliera said Luciano Colombini was its candidate for CEO at the lender.

MEDIASET

Board meeting on FY results (1500 GMT) followed by conference call (1700 GMT).

SALVATORE FERRAGAMO

Board meeting on FY results (sales results on Jan. 29) followed by conference call (1700 GMT).

GEAR 1

Last trading day as of Tuesday.

ASCOPIAVE

FY results presentation.

SESA

Board meeting on Q3 results.

(*) M&A, NEXI, SIA

Despite long talks, shareholders in banking services provider Nexi and payment services group SIA could not agree on a way forward to discuss a potential merger between the two companies in the short term, Il Sole 24 Ore daily reported.

(*) M&A, ALITALIA, FERROVIE DELLO STATO

easyJet could exit the talks to invest, together with U.S. airline Delta and Italy’s railway operator Ferrovie dello Stato, in Italian carrier Alitalia, daily La Stampa said, citing an Italian government source. Rome opposes easyJet’s plan to break up Alitalia, the report added.

Board meetings on FY results: AEFFE, followed by conference call, BE, BANCA PROFILO (preliminary results on Feb. 7), CREDITO VALTELLINESE (published onFeb. 6), DOBANK (published onFeb. 11), FIERA MILANO followed by conference call (1600 GMT), LVENTURE GROUP, MARR followed by conference call, PHARMANUTRA, TINEXTA.

DIARY

Rome, Prime Minister Giuseppe Conte speaks before COPASIR, the parliamentary committee for the security of the republic (1400 GMT).

Rome, Deputy Prime Minister and Industry Minister Luigi Di Maio presents project on ‘incentivi.gov.it’ with state lender Cassa Depositi e Presitti CEO Fabrizio Palermo, Invitalia CEO Domenico Arcuri.

Milan, state lender Cassa Depositi e Prestiti starts roadshow on social bond senior unsecured.

Milan, Court hearing in civil lawsuit between Italian private broadcaster Mediaset and French media group Vivendi over pay-TV dispute.

Milan, Economy Ministry Undersecretary Massimo Garavaglia attends panel at “Tax Day” event (1500 GMT).

Turin, Intesa Sanpaolo Chairman Gian Maria Gros-Pietro attends a book presentation (1600 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:............................... (Reporting By Viviana Venturi)

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