May 10, 2019 / 4:04 AM / a month ago

Italy - Factors to watch on May 10

MILANO, May 10 (Reuters) - 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 .

ECONOMY

ISTAT releases March industrial output (0800 GMT) and March retail sales (0900 GMT).

Bank of Italy releases March data on bank lending and domestic government bond holdings at Italy-based banks.

Italian Economy Minister Giovanni Tria said on Thursday the European Union’s public finance rules known as the “fiscal compact” should be scrapped because they are bad for the economy.

DEBT

Treasury sells 6.5 billion euros new 12-month BOT bills. Subscriptions close at 0900 GMT.

BANCA CARIGE

If regulators don’t give the bank more time to find a different private-sector solution after BlackRock pulled its interest, then the country’s banking system may be called on to lend a hand via a compulsory deposit protection fund alongside the voluntary one, La Repubblica and Il Sole 24 Ore said.

Several papers said the Treasury was also trying to reopen talks with funds like Varde, Apollo and Warburg that had previously been involved in the rescue process.

Prime Minister Giuseppe Conte said on Thursday there were no plans to nationalise the ailing Italian bank, after U.S. fund manager BlackRock ditched a proposed rescue it. Conte added that a market solution to save the lender had to be found instead.

Carige shares are suspended from trading.

UNIPOLSAI, UNIPOL

UnipolSai lifted its profit and dividend targets in its new plan to 2021. It is targeting an overall net profit of 2 billion euros as it invests in technology to consolidate its position as the country’s top non-life insurer.

(*) CATTOLICA ASSICURAZIONI

Net profit rose to 26 million euros in the first quarter from 24 million euros in the same three months of 2018, the insures said on Friday. For 2019, Cattolica saw an improvement of both its operating result and its net profit compared to last year.

BPER BANCA

Italy’s sixth-largest bank could speed up its 2021 bad loan target, Chief Executive Alessandro Vandelli told analysts, adding he would have a clearer view on this after third quarter. .

The lender’s profit shrank to 48 million euros in the first quarter, from 251 million euros in the same period of 2018.

CREDEM

Italian regional bank said on Thursday net profit came at 44.9 million euros in the first quarter, down from 54.6 million euros a year ago. The lender’s CET1 ratio stood at 13.2 percent at the end of March.

NEXI

Moody’s said it had upgraded the Italian payment group’s corporate family rating to Ba3 from B1 after the group’s IPO.

Nexi holds a board meeting on Q1 results on Friday.

SALINI IMPREGILO

The construction company is in touch with builder Pizzarotti as it moves towards its aim of helping create a national construction champion, MF said.

POPOLARE SONDRIO

Net profit at the Italian lender fell to 34.9 million euros in the first quarter from 42.8 million euros in the same three months of last year.

ILLIMITY BANK

Italian challenger bank is not interested in rescuing troubled lender Carige, Chief Executive Corrado Passera said on Thursday. “That’s not what we do” he added.

Illimity holds a board meeting on Q1 results on Friday.

FINCANTIERI

Italian shipbuilder expects its 2019 growth rate to be in line with last year after a jump in new orders between January and March, it said on Thursday.

Fincantieri holds a conference call on Q1 results on Friday (0700 GMT).

SAIPEM

An explosion has struck an oil-industry vessel operated by the Italian engineering firm in the Caspian Sea, injuring 14 people, the company said on Thursday.

TOD’S

The Italian shoes and leather goods company could struggle to meet market expectations on 2019 results after reporting a 4.3 percent fall in first-quarter revenue on Thursday, a top executive at the Italian fashion group said.

MONCLER

Italian luxury outerwear maker posted a 14 percent growth in first quarter revenues at current exchange rates, helped by strong sales in mainland China and South Korea.

Moncler sees its profitability in the first half of this year “more or less” in line with the same period of 2018, the company’s chief corporate and supply officer told analysts on Thursday

SAFILO

The eyewear make said on Thursday its sales from continuing operations rose 3.4 percent in the first quarter. Adjusted EBITDA stood at 16.5 million euros.

MASSIMO ZANETTI

Italian coffee roaster said on Thursday it confirmed its forecast for profitability growth in 2019 despite a slight fall in core earnings in the first quarter.

UNIPOL GROUP, UNIPOLSAI

Italian financial group and its insurance unit release Q1 results and 2019-2021 strategic plan (0500 GMT), followed by presentation (0815 GMT) and news conference (1100 GMT) in Milan.

DOBANK

Italy’s top bad loan specialist said on Thursday its net profit stood at 7.7 million euros in the first quarter, up from 6.5 million euros a year ago.

Conference call on Q1 results (0930 GMT).

ITALMOBILIARE

Italian investor said on Thursday its operating profit rose to 11.4 million euros in the first quarter from 4 million in the same three months of 2018. Net asset value per share, excluding treasury shares held in portfolio, stood at 35.5 euros per share as of March 31.

CATTOLICA ASSICURAZIONI

Releases Q1 results (0530 GMT), followed by conference call (0730 GMT).

BANCA POPOLARE DI BARI

Board meeting on FY results.

ATLANTIA

Board meeting on Q1 results.

AMM

Board meeting on FY results.

BOMI ITALIA

Med Platform I Holding ends voluntary full takeover offer on Bomi Italia ordinary shares and convertible bonds.

CFT

Annual and extraordinary shareholders’ meetings (0830 GMT).

Annual general meetings: ACSM-AGAM (0830 GMT), CALEFFI (0900 GMT), SOL (0900 GMT), VISIBILIA EDITORE (0730 GMT).

Board meetings on Q1 results: BANCA FARMAFACTORING followed by conference call, BANCA SISTEMA followed by conference call, GEOX followed by conference call (1530 GMT), INTERPUMP GROUP, POLIGRAFICA SAN FAUSTINO , RETELIT, SIT, SOL (sales), TOSCANA AEROPORTI.

DIARY

Rome, Prime Minister Giuseppe Conte gives speech at “Data Driven Innovation Open Summit” (0810 GMT).

Rome, State railways Ferrovie dello Stato IPO-FERRO.MI Group holds 2019-2023 industrial plan presentation with Chairman Gianluigi Castelli and CEO Gianfranco Battisti (0830 GMT); Prime Minister Giuseppe Conte, Economy Minister Giovanni Tria, Infrastructure and Transport Minister Danilo Toninelli attend.

Milan, ISTAT holds news conference to launch “Companies Permanent Census” with ISTAT President Gian Carlo Blangiardo, banking association ABI Deputy President and Intesa Sanpaolo Chairman Gian Maria Gros-Pietro, insurers’ association ANIA Director General Dario Focarelli (0900 GMT).

Genova, annual meeting for young builders ANCE “We Unlock the Future” with ANCE President Gabriele Buia, Infrastrucutre Deputy Minister Edoardo Rixi, Genoa Mayor Marco Bucci, Fincantieri CEO Giuseppe Bono, Banca Carige Special Commissioner Pietro Modiano, Liguria Region Governor Giovanni Toti (0800 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:............................... (Reporting By Viviana Venturi)

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