March 13, 2019 / 5:01 AM / 5 months ago

Italy - Factors to watch on March 13

MILANO, March 13 (Reuters) - 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 .

DEBT

Treasury sells 3.5-4.0 billion euros new 1.0 percent BTP bonds due July 15, 2022; 2.0-2,5 billion euros 2.50 percent BTP bonds due Nov. 15, 2025; 0.75-1.25 billion euros 2.95 percent BTP bonds due Sept. 1, 2038. Subscriptions close at 1000 GMT.

TELECOM ITALIA

Proxy adviser ISS has recommended that Telecom Italia (TIM) shareholders vote against a proposal by the phone group’s top investor Vivendi to replace five board directors appointed by Elliott.

UNICREDIT

The additional Tier 1 notes for a total amount of 1 billion euros will improve the bank’s Tier 1 ratio by around 27 basis points.

MEDIASET

Italy’s biggest private broadcaster plans to reward its longer-term investors with additional votes under an Italian law that is traditionally used by controlling shareholders to strengthen their grip on companies.

The board of directors has decided not to pay a dividend while also reserving the right to review the decision on dividend at July 25 meeting.

FERRAGAMO

The Italian luxury shoemaker posted a 14 percent drop in 2018 core profit, undermined by the costs of a turnaround plan in the face of falling sales. It trimmed its dividend to 0.34 euros per share from 0.38 euros a year ago.

The group said it had seen an “overall positive” trend for like-for-like sales since the start of the year.

SAIPEM

Italian market watchdog Consob has imposed a fine of 200,000 euros against the energy firm’s chief executive and of 150,000 against the manager in charge of drafting financial statements in office at the time of the 2016 capital increase.

(*) CARIGE

The Malacalza family is in contact with financial players interested in taking over the bank, according to Il Sole 24 Ore. Among them is Varde, which the paper said is considering an offer for both the healthy assets of the lender and its 3.5 billion euros of bad loans. (*) ALITALIA

The chief executive of Ferrovie dello Stato will fly to Atlanta on Thursday evening for talks with Delta, Il Messaggero reported. The U.S. airline does not want to invest more than 150 millions in the Italian carrier, for a 15 percent stake, it said.

(*) INTESA SANPAOLO

The bank has finalised guidance for three, five and 15-year yen-denominated bonds since it began marketing them Monday, but it is yet to confirm if it will issue the five-year tranche ahead of tomorrow’s pricing, according to IFR.

DOBANK

The board will propose the distribution of a dividend of 0.460 euros per each ordinary share.

IL SOLE 24 ORE

The board will propose to shareholders to take legal action against former top executives.

COMER INDUSTRIES

Debuts on Milan Stock Exchange after merger with Gear 1 .

GEAR 1

De-listed as of Wednesday.

OVS

Board meeting to co-opt three outgoing advisers.

ASSICURAZIONI GENERALI

Board meeting on FY results (press release on March 14).

LEONARDO

Board meeting on FY results.

Board meetings on FY results: ACOTEL, BF, CELLULARLINE, EQUITA GROUP, GAMENET GROUP followed by conference call (1300 GMT), ISAGRO (0830 GMT), NICE, RATTI, SAES GETTERS, SAFILO GROUP followed by conference call (1700 GMT), SOFTEC, ZIGNAGO VETRO (0930 GMT).

DIARY

Milan, debate organised by Bocconi University, European Central Bank (ECB) and Debating Europe on “ECB Youth Dialogue - Generation Euro: What Can Europe Do For You?” with ECB Executive Committee member Benoit Coeure (1700 GMT).

Rome, OECD official due to speak before Senate Labour Committee on minimum wage guaranteed law decree (1100 GMT).

Rome, Foreign Affairs Minister Enzo Moavero Milanesi speaks before Chamber of Deputies Foreign Affairs Committee on Brexit (1200 GMT).

Rome, Deputy Prime Minister and Industry Minister Luigi Di Maio meets trade unions, secretary general Maurizio Landini for CGIL, Annamaria Furlan for CISL, Carmelo Barbagallo for UIL.

Milan, the European House Ambrosetti holds round-table discussion on “Banking Sector Evolution Scenarios” with Banca Ifis CEO Giovanni Bossi (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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