March 28, 2018 / 4:00 AM / 8 months ago

Italy - Factors to watch on March 28

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 anti-establishment 5-Star Movement, the largest party in parliament after this month’s election, should try to form a government with its far-right rivals the League, two of its senior politicians said on Tuesday.

ECONOMY

ISTAT releases January industry orders and sales data (0800 GMT).

Welfare isntitute INPS and Labour Ministry hold news conferece on “Inclusion Income: first report” with President Tito Boeri, Prime Minister Paolo Gentiloni in Rome (0900 GMT).

State lender Cassa Depositi e Prestiti holds board meeting to approve FY results; followed by news conference to present FY results and industrial plan implementation with Chairman Claudio Costamagna and CEO Fabio Gallia in Milan (1300 GMT).

Milan, AIFI holds annual conference with Chairman Innocenzo Cipolletta, Nexi CEO Paolo Bertoluzzo, Poste Italiane CEO Matteo Del Fante, Intesa Sanpaolo Chairman Gian Maria Gros-Pietro, Avio CEO Giulio Ranzo, Bank of Italy Director General Salvatore Rossi (0700 GMT).

DEBT

Treasury sells 1.5-2.0 billion euros CCTeu bonds due April 15, 2025; 2.0-2.5 billion euros 0.95 percent BTP bonds due March 1, 2023; 2.5-3.0 billion euros 2.00 percent BTP bonds due Feb. 1, 2028. Subscriptions close at 0900 GMT.

COMPANIES

Italian Stock Exchange ‘Star Conference’ ends in Milan (0800 GMT).

TELECOM ITALIA (TIM)

Telecom Italia said on Tuesday its statutory auditors had unanimously decided to supplement the agenda of an April 24 shareholder meeting with a motion proposed by activist fund Elliott to replace six board members.

Italy’s market watchdog is investigating the resignations of Telecom Italia board members last week, two sources said, after the move which was seen as a bid by top investor Vivendi to challenge activist fund Elliott.

Telecom Italia said on Tuesday it had notified Italy’s communications regulator it had formally started the procedure to separate its fixed access network.

The group’s deputy chairman said network separation was a guarantee for Italian control. He ruled out a possible third mandate as CEO saying “I’ve already given, twice.”

Some 22,000 employees out of TIM’s 50,000 will move to the newly-created company for the fixed network, La Stampa reported on Wednesday.

ENI

Mexico awarded nearly half of the 35 oil and gas blocks tendered on Tuesday. Either alone or in consortia, Pemex won seven blocks of the 16 areas awarded by Mexico’s CNH oil regulator and Italy’s Eni was among the foreign firms who won the shallow water blocks.

Mounting geopolitical tensions will not create problems for the supply of gas from Russia into Italy, the CEO of Italian oil major Eni said on Tuesday.

ENEL

Sky’s Italian unit is close to signing a deal with Italian broadband company Open Fiber that will allow it to stream programs and offer high-speed broadband services, two sources said on Tuesday.

BANCA CARIGE

Banca Carige said it would sell 1 billion euros of bad loans, 700 million euros of unlikely to pay.

FINCANTIERI

Fincantieri full-year net profit up at 57 million euros, sees 2018 Revenues up 3-6 percent.

Conference call on FY results (also on 2018-2022 industrial plan 0700 GMT).

(*) MONTE DEI PASCHI DI SIENA

Shareholder Bluebell Partners has informed the bank it wants to sue for damages directors, auditors and the director general who approved the financial accounts for the years 2012, 2013 and 2014 and the six-month earnings through June 2015, the bank said in a document published on its website. (*) GENERALI

Barclays on Wednesday raised the target price to 14.4 euros from 13.8 euros.

Italian entrepreneur Francesco Gaetano Caltagirone raised his stake in the insurer to 3.86 percent, internal dealing notes showed. (*) UBI

Italy’s fifth largest lender will soon approve an updated version of its bad loan reduction plan and could, immediately after, put on the block a 1-1.5 bln euro portfolio aiming to close the sale by the end of the year, MF reported.

(*) SNAM

Credit Suisse on Wednesday cut the target price to 4.50 euros from 4.60 euros.

(*) AMPLIFON

HSBC on Wednesday raised the target price to 14 euros from 13.5 euros.

BANCA FINNAT

Presents FY results.

GLENALTA

Annual general meeting.

ACSM-AGAM

Board meeting on FY results.

ALKEMY

Board meeting on FY results.

AXELERO

Board meeting on FY results.

BUZZI UNICEM

Board meeting on FY results (preliminary FY results on Feb. 8), followed by conference call (1430 GMT).

CALEIDO GROUP

Board meeting on FY results.

COVER 50

Board meeting on FY results.

DIGITAL360

Board meeting on FY results.

DOMINION HOSTING HOLDING

Board meeting on FY results.

FIRST CAPITAL

Board meeting on FY results.

FRENDY ENERGY

Board meeting on FY results.

GAS PLUS

Board meeting on FY results, followed by conference call (1300 GMT).

GEL

Board meeting on FY results.

INTEK GROUP

Board meeting on FY results.

PLT ENERGIA

Board meeting on FY results.

PORTALE SARDEGNA

Board meeting on FY results.

SMRE

Board meeting on FY results.

TECHNOGYM

Board meeting on FY results (preliminary FY results on Feb. 9).

VETRYA

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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