March 25, 2020 / 5:00 AM / 16 days ago

Italy - Factors to watch on March 25

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 .

GENERAL

Fatalities in Italy from coronavirus have surged, the Civil Protection Agency said on Tuesday, dashing hopes the epidemic in the world’s worst hit country was easing after more encouraging numbers in the previous two days. The death toll rose by 743 on Tuesday, the second highest daily tally since the outbreak emerged in northern regions on Feb. 21, and up steeply from the 602 recorded on Monday.

Rome has hiked fines for people who defy a lockdown order, Prime Minister Giuseppe Conte said on Tuesday, adding that he hoped he could start lifting the restrictions shortly.

ECONOMY

Italian Economy Minister Roberto Gualtieri said on Tuesday that the euro zone’s bailout fund ESM should be used to help economies hit by the coronavirus crisis, with no strings attached.

Italy’s government will ask parliament in the first weeks of April to authorise a new hike in this year’s deficit levels, Economy Minister Roberto Gualtieri said on Tuesday.

The Italian government met unions on Tuesday to try to head off the threat of strikes called by labour organisations demanding a wider shutdown of the economy and better safety measures for staff forced to work during the coronavirus crisis.

DEBT

Italy’s Treasury said on Tuesday it would sell 7 billion euros of six-month BOT bills at an auction on March 27.

TELECOM ITALIA

U.S. investment fund Elliott reduced its stake in Italy’s biggest telecoms group to 6.97% from 9.72%, a filing by market regulator Consob showed on Tuesday. Elliott has cut its stake as part of a portfolio rebalancing strategy given the current market situation, a source familiar with the matter said. Such reduction does not modify Elliott’s commitment as a TIM shareholder and its full support to the company’s board of directors and management, the source added. (*) The company’s network is solid and stable and can hold “with no problems” the additional traffic due to the coronavirus emergency in the country, Chief Executive Luigi Gubitosi said on Wednesday.

He added that with the anti-coronavirus lockdown measures imposed by the government and an increase in work from home and the use of online learning platforms, overall traffic on landlines has gone up almost 100% and has risen 30% on mobile lines.

BANKS

Rating agency Fitch said on Tuesday it took actions on 14 Italian banks, including Intesa Sanpaolo, Unicredit , Mediobanca, UBI Banca, Monte dei Paschi di Siena and BPER Banca, following the coronavirus disruption in the country. (*) The President of Italy’s banking association ABI Antonio Patuelli told newspaper la Repubblica he doesn’t expect a credit crunch due to the coronavirus emergency but he sees a decline in loan demand among Italian business and households.

UNICREDIT

Italy’s top bank said on Tuesday it restricted opening hours for the less than 30% of its branches which are being kept open.

FINCANTIERI

The Italian shipbuilder said on Tuesday it postponed the release of its full-year 2019 financial results to April 1, due to the ongoing coronavirus emergency. It also postponed its shareholder’s meeting to a new date to be set between May 11 and June 10.

SALINI IMPREGILO

S&P on Tuesday placed the builder’s BB- rating on credit watch with negative implications, citing a “disappointing operating cash flow” in its 2019 full-year results.

The company said on Tuesday it postponed its shareholders’ meeting to May 4 from April 22.

(*) BREMBO

The consequences of the coronavirus emergency could be “very serious” on the automotive sector, which was already going through a phase of radical change and massive investments for hybrid and electric cars, chairman Alberto Bombassei told Corriere della Sera, adding that Brussels should have coordinated decisions in the sector during the virus emergency. Bombassei said that although the company’s forecasts had been put off, the company’s fundamentals are very solid.

EXOR

Board meeting on FY results.

HERA

Board meeting on FY results.

IREN

Board meeting on FY results followed by conference call (1600 GMT).

BUZZI UNICEM

Board meeting on FY results (preliminary results on Feb. 7).

DIARY

Rome, Parliamentary Committee for the Security of the Republic COPASIR holds meeting (1000 GMT).

Rome, Prime Minister Giuseppe Conte speaks before Chamber of Deputies on coronavirus emergency (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:...............................

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below