May 15, 2020 / 4:03 AM / 22 days ago

CORRECTED-Italy - Factors to watch on May 15

(Corrects Cattolica Assicurazioni item after results release moved to later in the day and conference call to Monday) 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 orders and sales data (0800 GMT) and April final CPI and HICP data (0900 GMT).

Bank of Italy releases March data on public finances, state borrowing and debt.

DEBT

Treasury announces minimum guaranteed annual real coupon for new five-year BTP Italia bond.

CORONAVIRUS

Deaths from the COVID-19 epidemic in Italy climbed by 262 on Thursday, against 195 the day before, the Civil Protection Agency said, while the daily tally of new cases rose to 992 from 888 on Wednesday.

FINCANTIERI

Conference call on Q1 results (0700 GMT).

The group said on Thursday it will discuss with ship owners possible delivery postponement of units in its portfolio to avoid cancellations of already acquired orders as a result of the coronavirus outbreak’s hit on the cruise industry.

UBI BANCA

Fondazione CRC on Thursday said its stake in UBI was unchanged at 5.9%.

ENI

Eni said on Thursday its board had re-appointed Claudio Descalzi as CEO.

SARAS

The company will wait until Q3 or year-end before taking a decision on dividend, it said on Thursday.

UNIPOL GROUP and UNIPOLSAI (*) Italy’s second largest insurer UnipolSai on Friday posted a 7% drop in first-quarter net profit as revenues fell after the outbreak of the coronavirus emergency impacted the number of policies sold.

Conference call (1000 GMT).

(*) AUTO INDUSTRY, FIAT CHRYSLER

The car, tourism and avaiation industry are in great difficulty and need public help, European Commission executive VP Frans Timmermans told La Stampa in an interview.

Fiat Chrysler’s Italian division, which oversees the production sites in the country, is in the process of asking for state guarantees for loans worth 6.5 billion euros, MF said. The move is a direct consequence of the 2019 dividend payment being scrapped, the paper added.

POSTE ITALIANE

Annual general meeting (1200 GMT).

CATTOLICA ASSICURAZIONI

Releases Q1 results. Conference call to be held on Monday, May 18 (0830 GMT). (*) The insurer’s dissident shareholders and its board have agreed to present a joint proposal for governance changes, according to Il Sole 24 Ore. As a result, the shareholders have withdrawn their request for an extraordinary shareholder meeting, the paper added.

M&A

CVC Capital Partners has entered into exclusive talks with Serie A to invest up to 2.2 billion euros ($2.37 billion) into Italy’s top-flight soccer league’s broadcasting rights business, sources familiar with the matter said on Thursday.

MASSIMO ZANETTI BEVERAGE GROUP

Italy’s Massimo Zanetti said on Thursday it needed two or three months more to assess the likely impact of the coronavirus outbreak on its 2020 results after reporting a fall in first-quarter core profit.

(*) NEWLAT

The company is in talks for a possible merger with a British multi-brand and multi-product group in the confectionary segment, MF said.

SOLE 24ORE

The publisher said on Thursday it posted a net loss of 5.9 million euros, worsening from a loss of 1.7 million euros last year due to COVID-19 crisis.

EDISON

The company reported a 24% drop in first-quarter revenue to 1.8 billion euros as the coronavirus crisis reduced the demand for electricity and gas. In the same period core earnings were almost flat at 180 million euros. Edison said it was premature to confirm the previous forecast for 2020 core earnings.

DATALOGIC

The company said its first-quarter revenue fell 14% year-on-year to 124.2 million. Adjusted core earnings came in at 7.3 million euros, down from 21.6 million euros one year ago. The group expects Covid-19 pandemic to have a bigger impact on the group’s results in the second quarter.

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FTSE IT allshare index

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Stories on Italy...... IT-LEN

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