March 19, 2018 / 7:02 AM / 5 months ago

Italy - Factors to watch on March 19

The following factors could affect Italian markets on Monday.

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

The 5-Star Movement, which emerged as Italy’s biggest party at this month’s election, is preparing an economic plan which will not raise the fiscal deficit forecasts of the outgoing centre-left government, a 5-Star party source told Reuters.

ECONOMY

ISTAT releases January industrial output data (0900 GMT) and January foreign trade data (1000 GMT).

COMPANIES

FTSE share indexes revision effective as of Monday

ASSICURAZIONI GENERALI

Italy’s Edizione Holding, the investment vehicle of the Benetton family, is considering raising its stake in Generali, Italy’s biggest insurer, to 5 percent, Il Sole 24 Ore newspaper said on Saturday. Edizione already has doubled its stake to 2 percent, the newspaper said. Sources told Reuters in January Edizione would raise its Generali stake to 2 percent.

TELECOM ITALIA

Italy’s competition authority said on Friday it had fined the phone group 4.8 million euros because Telecom Italia had failed to make clear, in offering fibre-optic Internet services, that customers would have to pay an extra amount to benefit from the maximum speed advertised.

Telecom Italia (TIM) said on Friday it would appeal against the regulator’s decision because it believed it was unfounded and harmed the group’s image and interests.

Joao Cox is the new chairman of TIM Participações, a filing showed on Friday.

TIM will hold a board meeting on Thursday, Il Sole 24 Ore newspaper said on Sunday. In an emailed statement, TIM said that no current or future chief executive officer would have operational powers over its submarine network unit, Sparkle. Italy has said Sparkle is of strategic national importance, so it must be run by an Italian citizen with special security clearance.

Il Sole said on Sunday that a formal process had begun to impose sanctions against TIM for not having yet selected Sparkle’s management. As a consequence of the procedure, the golden power committee could ask for a freeze of Vivendi’s voting rights at the April 24 general meeting where shareholders will vote on Elliott’s proposal for a board shake-up, the paper added. TIM said in the statement it had not been informed that a formal sanction procedure had been launched. The phone group had only sent an official reply to a request for information, it added.

(*) The replacement of TIM Participacoes SA Chairman Mario Cesar Pereira de Araujo on Friday was not a surprise to the company’s board given the increasingly hands-on approach of the CEO of the Brazilian company’s Italian parent, Telecom Italia, a high-ranking source with direct knowledge of the matter said.

(*) FIAT CHRYSLER, CNH INDUSTRIAL

CNH Industrial CEO Richard Tobin is among candidates being considered as successor for Fiat Chrysler CEO Sergio Marchionne, Corriere della Sera’s L’Economia insert said on Monday.

YOOX NET A PORTER

The online fashion retailer on Friday said its board had deemed fair the price of 38 euros a share being offered by Swiss luxury goods group Richemont in a buyout bid and had decided to tender its treasury shares. (*) Richemont has published the document relating to its bid on YNAP shares which kicked off on Monday.

(*) SALINI IMPREGILO

The builder has won a 203 million euro contract to extend a paris metro line to the Orly airport.

CLASS EDITORI, GAMBERO ROSSO

The publishing group said on Friday it would offer holding company PIM newly-issued shares in exchange for PIM’s 67.5 percent stake in restaurant guidebook publisher Gambero Rosso . Class will then offer to swap all remaining Gambero Rosso shares with more of its own stock at the same conditions. The deal will hand PIM a 28 percent stake in Class.

ATLANTIA

Ratings agency Moody’s on Friday affirmed Atlantia’s ratings with a negative outlook following the revised terms for the possible acquisition of Spanish rival Abertis.

PRELIOS

Takeover vehicle Lavaredo said on Friday it owned 90.437 percent of the Italian servicing group following a buyout offer aimed at delisting Prelios’ shares.

ANIMA

Trades ex-dividend of 0.19 euro per ordinary share.

BASIC NET

Board meeting on FY results, followed by video conference call (1630 GMT).

BF

Board meeting on FY results.

CALEFFI

Board meeting on FY results, followed by conference call.

FOPE

Board meeting on FY results.

INTEK GROUP

Board meeting on FY results.

ORSERO

Board meeting on FY results.

STEFANEL

Board meeting on FY results.

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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