May 20, 2019 / 4:02 AM / a month ago

Italy - Factors to watch on May 20

The following factors could affect Italian markets on Monday.

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

Nationalist parties from across Europe held a rally on Saturday, led by Italian Deputy Prime Minister Matteo Salvini, promising to reshape the continent following next week’s EU parliamentary election.

ECONOMY

Soon after the European elections, the EU Commission will send a letter to the Italian government to ask for explanations about the rise in Italy’s public debt between 2017 and 2018, Il Sole 24 Ore and Il Messaggero reported on Saturday, adding this could be the first step towards a potential procedure against Rome’s fiscal policy.

ECB’s policymaker Klaas Knot said Italy should be more disciplined regarding public debt, which is well above EU limits and it is also creeping up.

GENERALI

The Benetton family wants Generali to remain in Italian hands and is ready to tighten its grip on Europe’s third-biggest insurer along with other Italian investors, Luciano Benetton said in an interview with La Repubblica.

ATLANTIA

Luciano Benetton said Atlantia had not received a request to invest in Italian carrier Alitalia, adding Atlantia’s managers retained the trust of the family after the deadly collapse of a bridge operated by the firm’s motorway unit.

The entrepreneur also said former Telecom Italia boss Marco Patuano would not be offered a second term as the CEO of Edizione, the company which manages the Benettons stakes in Atlantia, Autogrill, Generali and other companies. Patuano’s mandate ends on May 24.

(*) ESSILORLUXOTTICA

Chairman Leonardo Del Vecchio has set up clear rules that are accepted by his entire family and that will prevent governance problems inside the family holding company and EssilorLuxottica’s investor Delfin, Del Vecchio’s son Claudio told L’Economia/Corriere della Sera. [The company is listed in Paris]

UNICREDIT

A merger with Germany’s Commerzbank will likely require as many as 10,000 job cuts over a total workforce of 49,000, La Repubblica reported on Saturday citing a market source.

TELECOM ITALIA

Italy’s antitrust has levelled criticisms against the telecom watchdog’s draft market analysis document on network access, including the idea of separating Telecom Italia’s network, Il Sole said on Saturday. It is against Agcom’s proposal to grant Tim certain regulatory advantages in areas where more network competition exists.

ENI

Exploration at the Kekra-1 well off the coast of southern Pakistan has been abandoned after no reserves of oil or gas were found, said the spokesman for Oil and Gas Development Co Ltf , the Pakistani partner in the project, along with Eni and Exxon Mobile Corp and Pakistan Petroleum.

SALINI IMPREGILO

Tensions have emerged between Salini and state lender CDP over how to set up a national champion aimed at rescuing some ailing companies in the construction sector, Il Sole 24 Ore said on Saturday, adding the governance of the new entity was one of the sticking points.

ENEL

Italy’s biggest utility sees a positive impact on 2019 group’s EBITDA of around 180 million euros from the resolution of pending regulatory issues in Argentina, the company said on Friday.

TERNA

The rating agency Scope has assigned the Italian power grid operator, and its unsecured senior debt, a long-term rating of “A-“, with a stable outlook, and a short term rating of “S-1”, company said on Friday.

UNIEURO

The Italian retailer sees capex in a range between 22 million and 25 million euros for the current fiscal year, Il Sole 24 Ore said on Sunday.

AXELERO

Extraordinary shareholders’ meeting (1400 GMT).

Revenues fell to 10 million euros in 2018 from 28.6 million euros a year ago, EBITDA totalled a 16.8 million loss from a loss of 9,5 million, the Internet company said on Friday.

BOMI ITALIA

De-listed as of Monday.

CSP INTERNATIONAL

Annual general meeting.

ENERTRONICA

Baord meeting on FY results.

SPRINTITALY

Changes name in Sicit Group.

Board meetings on Q1 results: TELECOM ITALIA (TIM), ITWAY, TRAWELL CO, VALSOIA (0900 GMT).

Trade ex-dividend: A2A of 0.07 euro per ordinary share; AMPLIFON of 0.14 euro per share; ASSICURAZIONI GENERALI of 0.90 euro per share; ATLANTIA of 0.90 euro per share; AZIMUT of 1,50 euro per share of 1.20 euros cash per share and free allocation of one share every 56 shares owned; BANCA GENERALI of 1.25 euros per share; BPER BANCA of 0.13 euro per share; BUZZI UNICEM of 0.125 euro per ordinary share and of 0.149 euro per saving share; ENI of 0.41 euro as final 2018 dividend per share (0.42 euro as interim dividend on Sept. 24, 2018); INTESA SANPAOLO of 0.197 euro per share; ITALGAS of 0.234 euro per share; LEONARDO of 0.14 euro per share; MONCLER of 0.40 euro per share; PIRELLI & C of 0.177 euro per share; SALVATORE FERRAGAMO of 0.34 euro per share; TENARIS of 0.28 U.S. dollar as final dividend (0.13 U.S. dollar as interim dividend on Nov. 19, 2018); UBI BANCA of 0.12 euro per ordinary share; UNIPOL of 0.18 euro per ordinary share; UNIPOLSAI of 0.145 euro per ordinary share; ANIMA of 0.165 euro per ordinary share; AVIO of 0.44 euro per ordinary share; BANCA POPOLARE DI SONDRIO of 0.050 euro per share; BASIC NET of 0.12 euro per share; BE of 0.022 euro per share; BREMBO of 0.22 euro per share; BRIOSCHI SVILUPPO IMMOBILIARE of 0.002 euro per share; BRUNELLO CUCINELLI of 0.30 euro per share; CALTAGIRONE of 0.07 euro per share; CATTOLICA ASSICURAZIONI of 0.40 euro per share; CELLULARLINE of 0.30 euro per share; CEMENTIR of 0.14 euro per share; CERVED GROUP of 0.295 euro per ordinary share as ordinary dividend and of 0.010 euro per ordinary share as special dividend; CIR of 0.039 euro per share; CIRCLE one new ordinary share every ten ordinary owned shares; CREDITO EMILIANO of 0.20 euro per share; DEA CAPITAL of 0.12 euro per share as extraordinary dividend; DE’ LONGHI of 0.37 euro per share; DIASORIN of 0.90 euro per ordinary share; DIGITAL MAGICS of 0.05 euro per ordinary share; ELETTRA INVESTIMENTI of 0.25 euro per share; ENAV of 0.1998 euro per share; ENERVIT of 0.11 euro per share; ERG of 0.75 euro per share; FILA of 0.08 euro per share; GEOX of 0.025 euro per share; GRIFAL of 0.03 euro per share; ILPRA of 0.05 euro per share; IMA of 2.0 euros per share; INTERPUMP GROUP of 0.22 euro per share; MASSIMO ZANETTI of 0.19 euro per share; NB AURORA NA SICAF RAIF of 1.06 euro per share; NEODECORTECH of 0.153 euro per share; NOVA RE of 0.07 euro per share as extraordinary dividend; PITECO of 0.15 euro per ordinary share; POLIGRAFICI PRINTING of 0.066 euro per share; PRIMA INDUSTRIE of 0.44 euro per share; RAI WAY of 0.2196 euro per share; RATTI of 0.20 euro per share; RCS MEDIAGROUP of 0.06 euro per share; SALINI IMPREGILO of 0.52 euro per saving share; Saras of 0.08 euro per share; SIAS-SOCIETA INIZIATIVE AUTOSTRADALI E SERVIZI of 0.535 euro per share as final dividend (0.165 euro as interim dividend on Nov. 19, 2018); SOL of 0.175 euro per ordinary share; SPRINTITALY of 2.669 euro per ordinary and special shares as special dividend; TAMBURI INVESTMENT PARTNERS of 0.070 euro; TECHNOGYM of 0.18 euro per ordinary share; TOD’S of 1.00 euro per ordinary share; VIANINI of 0.06 euro per share.

DIARY

Florence, “Power Summit 2019” starts (0700 GMT), ends on May 21; news conference at 1045 GMT. Expected attendees include Enel CEO Francesco Starace, Deputy Prime Minister and Industry Minister Luigi Di Maio, European Parliament President Antonio Tajani, Vestas Chairman and CEO Anders Runevad, Siemens Gas and Power unit CEO Lisa Davis, EDP Executive Board Member Vera Pinto Pereira, Enel X Chairman and CEO Francesco Venturini.

Rome, conference on “Zero-Impact Mobility: the Future is Green” with Invitalia CEO Domenico Arcuri, Enel X unit Country Manager Alessio Torelli, Infrastructure and Transport Deputy Minister Edoardo Rixi; Deputy Prime Minister and Interior Minister Matteo Salvini delivers closing address (0700 GMT).

Gambellara, Deputy Prime Minister and Industry Minister Luigi Di Maio delivers opening address at event “Wiki Enterprises at the Heart of Development” and presents ‘Growth Law Decree’ (0900 GMT).

Milan, Italian National Fashion Chamber holds news conference to present “Milano Moda Uomo” fashion shows to be hold on June 14-17 (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:...............................

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