The following factors could affect Italian markets on Tuesday.
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 .
ECONOMY
ISTAT releases March business and consumer confidence data (0800 GMT).
DEBT
Treasury sells 6.0 billion euros of 6-month BOT bills. Subscriptions close at 0900 GMT.
COMPANIES
ENI
(*) Eni is discussing the sale of a 20 percent stake in Egypt’s Zohr gas field to Russia’s Lukoil, la Repubblica reported on Monday citing industry sources.
Exxon Mobil is in talks to buy a stake of around 15 percent in Italian oil major Eni’s giant Area 4 gas field in Mozambique, two sources familiar with the matter said.
Both Standard and Poor’s and Moody’s on Thursday cut their long-term rating on Eni’s debt, raising the outlook to ‘stable’.
MONTE DEI PASCHI DI SIENA
The Italian bank denied on Friday a press report that the European Central Bank had asked it to carry out a capital increase worth up to 3 billion euros ($3.4 bln).
SNAM
The Italian gas company is interested in Germany’s Thyssengas but competition for the asset is high and Snam is not planning to bid aggressively, a source familiar with the matter said confirming a report in Sunday’s Il Sole 24 Ore.
BANCO POPOLARE, BANCA POPOLARE DI MILANO
The CEO of Banco Popolare reiterated in an interview with Il Sole 24 Ore on Saturday the 1 billion euro cash call required to pave the way for the tie up with BPM could be 50 percent rights issue and 50 percent in direct placements to institutional investors. The CEO of BPM, destined to be CEO of the new merged bank, told the same paper the cash call was reassurance for future earnings, adding this would support dividend payout and make it more interesting.
BANCA CARIGE
Apollo Capital Management has sent two letters to Carige, the last dated March 23, formalising a bid for a portfolio of non-performing loans and offering 550 million euros via a cash call which would give it around 50 percent of the bank, Il Messaggero said on Saturday. It said the U.S. fund had also informed the ECB.
Sunday’s Corriere della Sera cited rumours saying the ECB had asked Carige’s board, which is being advised by JP Morgan and Mediobanca, to evaluate the proposal.
(*) Apollo has offered 695 million euros for a portfolio of bad loans with a gross book value of 3.5 billion euros, Il Sole 24 Ore reported on Tuesday. The paper cited financial sources as saying the ECB was putting pressure on Carige and wants the new board to examine Apollo’s proposal which includes a 550 million euro reserved capital increase.
VENETO BANCA IPO-VENE.MI
The ECB has sent the bank a letter asking for a full renewal of the board at a shareholder meeting on May 5, Il Sole 24 Ore said on Saturday.
BANCA POPOLARE DI VICENZA IPO-BPVS.MI
The bank said on Saturday shareholders did not approve a proposal to press ahead with legal action against the top management that was in power at the time when certain illegal events reflected in the 2015 balance sheet took place.
TELECOM ITALIA
Korn Ferry has been hired to help find the new CEO and former Terna head Flavio Cattaneo, currently head of NTV railway service, is close to an appointment, Il Messaggero said on Saturday.
INWIT, EI TOWERS
The Vivendi board members of Telecom Italia prefer the offer put forward by EI Towers for Telecom Italia tower company Inwit to the one from Spain’s Cellnex and infrastructure fund F2i, La Repubblica said on Saturday.
POSTE ITALIANE
The post office’s main shareholder the Treasury plans to sell down its 65 percent stake to 35 percent by year end, La Repubblica said on Saturday. On Wednesday the CEO of Poste Italiane told Reuters he expects the state to reduce its stake to around 30 percent over time.
MONCLER
The luxury down jacket maker said on Thursday it had finalised a 5 million euro investment to set up a manufacturing unit in Romania where by hiring 600 people.
EXOR
The Italian holding company said on Thursday it would cut its debt by 660 million euros using proceeds from selling a stake in British property group Almacantar and other financial assets to its fully-owned ParterRe reinsurance unit.
SALVATORE FERRAGAMO
The Italian luxury goods maker said on Thursday Massimiliano Giornetti had stepped down as its creative director to be replaced by the group’s in-house team of fashion designers.
Bourse After Hours market closed.
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