March 7, 2018 / 5:00 AM / 8 months ago

Italy - Factors to watch on March 7

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

Italian centre-right leader Silvio Berlusconi said on Tuesday his centre-right coalition must receive a mandate to govern after winning the most seats at a national election, and that he would be its coordinator.

The leader of Italy’s far-right League said on Tuesday he was the only possible candidate for prime minister for the centre-right after his party emerged as the strongest in the conservative bloc at Sunday’s election.

The failure of Italy’s neighbours to help out more with a huge influx of migrants boosted the anti-immigrant vote and contributed to the resounding defeat of its ruling party in last weekend’s election, European officials acknowledge.

ECONOMY

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

NN Investment Partners presents “Outlook 2018 - Emerging Market Debt” in Milan (0900 GMT).

DEBT

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

TELECOM ITALIA (TIM)

(*) Telecom Italia on Tuesday pledged to accelerate cash flow generation, increase shareholder returns and become a more digital player in the first three-year business plan under new Chief Executive Amos Genish.

Activist investor Elliott Advisors has built a stake in TIM, it said on Tuesday, in a move that could challenge the way top investor Vivendi runs Italy’s biggest phone group.

(*) Elliott has a stake close to 5 percent and has a series of derivatives that would allow it to raise it to 9.9 percent, Il Messaggero said, citing sources.

(*) Elliott currently has a stake of less than 3 percent of ordinary shares, Il Sole 24 Ore said. It wants to ask for 5 board members nominated by Vivendi to be removed, including chairman and CEO, the paper said. The paper cites sources close to Elliott denying the move was in agreement with the Berlusconi group or designed to promote the sale of Tim Brasil.

Asked about the position built by Elliott in TIM, the group’s chairman and Vivendi CEO Arnaud de Puyfontaine said all shareholders were welcome.

Conference call on FY results and 2018-2020 industrial plan (1300 GMT).

YOOX NET-A-PORTER

The luxury online retailer is in line with its five-year plan and core profit margins will rise 30-70 basis points in 2018, as revenue is lifted by sales through mobiles and in the Middle East, the group’s chief executive said on Tuesday.

BANCA CARIGE

Carige said on Tuesday it could not at present grant investor Raffaele Mincione the board seat he had requested after building a 5.43 percent stake in the regional lender.

It also said it estimated that a new accounting rule forcing banks to book expected, and no longer actual, losses would lead to around 360 million euros in writedowns, shaving 2.1 percentage points off its best-quality capital.

BRUNELLO CUCINELLI

Board meeting on FY results (preliminary results were released on Jan. 8), followed by conference call (1700 GMT).

ITALMOBILIARE

The group said proposed a 0.55 euros per share divided on 2017 results. Net profit last year doubled to 114.9 million euros.

INWIT

Conference call on FY results (1600 GMT).

ERG

Board meeting on FY results.

IREN

Board meeting on FY results.

DIASORIN

Board meeting on FY results, followed by conference call (1400 GMT).

PRISMI

Presents new Prismi Group and industrial plan to analysts (1000 GMT).

SPRINTITALY

Board meeting on H1 results.

BANCO DI SARDEGNA

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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