March 6, 2020 / 5:01 AM / 25 days ago

Italy - Factors to watch on March 6

The following factors could affect Italian markets on Friday.

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 government, which has imposed draconian measures to try to contain the coronavirus outbreak, said it would double the money pledged to help the economy cope with the impact of the epidemic.

On Thursday the death toll from the virus rose to 148 in Europe’s worst-hit country, showing no sign of slowing.

ECONOMY

ISTAT releases January retail sales data (0900 GMT) and monthly bulletin on the state of the economy in February (1000 GMT).

Bank of Italy releases February data on Target 2 liabilities and European Central Bank funding to Italian banks.

DEBT

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on March 11.

PRYSMIAN

The world’s largest cable maker warned on Thursday that core profit would not grow this year after global trade tensions led to higher tariffs, with performance also likely to be hit by knock-on effects from the coronavirus outbreak.

ATLANTIA

The infrastructure group’s motorway unit Autostrade per l’Italia has delayed the release of its 2019 results to April 27 to give it more time to evaluate the impact of a new rule approved by Rome that changes the terms of its concession, it said on Thursday. (*) Talks between advisers over a deal for infrastructure fund F2i to take a stake in Autostrade have been halted, Il Sole 24 Ore said. The talks, aimed at cutting Atlantia’s stake in Autostrade to a minority, were interrupted over “incomprehension and the climate of diffidence with the government” as regards the concession issue.

TELECOM ITALIA

Telecom Italia (TIM) and Vodafone are set to secure conditional EU antitrust approval to create Europe’s biggest mobile towers company - through the transfer of Vodafone’s Italian mobile masts to INWIT, TIM’s 60%-owned subsidiary - sources said on Thursday.

Italy’s competition watchdog has decided to fine TIM around 120 million euros for abusing its dominant position in the broadband market in an attempt to obstruct the entrance of rival Open Fiber, Bloomberg reported on Thursday citing people familiar with the matter. (*) POSTE ITALIANE

The Italian Post Office reported a fourth quarter fall in adjusted EBIT to 477 million euros out of revenues of 2.949 billion euros from 2.913 billion euros last year. It said at present it was not possible to make a reasonable estimate of the potential medium-term impact of the spread of Covid-19 in Italy.

Conference call on “Capital Markets Update 2019 results and 2020 guidance” (1230 GMT).

(*) ENI, ENEL, LEONARDO , POSTE , TERNA

Rome is expected to confirm top CEO positions at the main government-controlled companies with uncertainty over the Coronavirus outbreak only reinforcing such a position, La Stampa said.

(*) BANCA MONTE DEI PASCHI DI SIENA

Mauro Selvetti, former head of Italian bank Creval, is a front runner to take over the CEO position at Monte dei Paschi, several papers said. But MF said Fabio Innocenzi and Pietro Modiano could be candidates for CEO or chairman.

INWIT

The Italian mast company said on Thursday its 2019 comparable core profits rose 5.3% year on year to 226.8 million euros. It said it would propose a payout worth 127 million euros.

FIAT CHRYSLER

The Italian American automaker said on Thursday it would invest $400 million to convert a plant in U.S. Indiana state.

(*) ESSILORLUXOTTICA - The company’s board was split on Thursday over the possible revocation as CEO of Essilor and co-CEO of the Italian-French group of Laurent Vacherot for oversights in a fraud case in Thailand, La Repubblica said. Vacherot keeps his position at the moment, the paper said.

NEXI

Board meets on FY results (preliminary on Feb. 12).

GEOX

The shoemaker said on Thursday its fully year adjusted EBITDA fell to 30,9 million euros in 2019 excluding the effects of IFRS16 accounting standard and restructuring costs. It added that in light of coronavirus outbreak it would postpone investment in advertising.

SIA (unlisted)

the Italian payment services group has hired JP Morgan as financial adviser for any extraordinary operations, including a possible stock market listing, it said on Thursday.

ALITALIA (unlisted)

Investors interested in buying the loss-making Italian airline are invited to submit expressions of interest by midnight on March 18, a document prepared by a state-appointed temporary administrator showed on Thursday.

DIARY

Anfia-Unrae release February report on commercial vehicles.

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