May 21, 2019 / 6:19 AM / a month ago

Italy - Factors to watch on May 21

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 .

TELECOM ITALIA (TIM)

Italy’s biggest phone group reported a drop in first-quarter core earnings as stiffer competition in its main market hit domestic revenues.

The company will hold a conference call on Q1 results at 1200 GMT.

(*) Two of Telecom’s major shareholders, Vivendi and Cassa Depositi e Prestiti (CDP), met recently to discuss governance issues and the possible merger of the broadband infrastructure group Open Fiber with the networks of Telecom Italia, La Repubblica said on Tuesday. The French media group is TIM’s second-largest shareholder. Italian state lender CDP, the third largest, controls wholesale broadband group Open Fiber alongside Enel, Italy’s biggest utility company.

(*) INTESA SANPAOLO

The corporate and investment Banking unit (CIB) of Italy’s biggest retail bank is expanding abroad and, in the domestic market, has “several” possible IPOs in the pipeline by the end of the year, CIB chief Mauro Micillo said in an interview to Italian daily Il Sole 24 Ore on Tuesday.

(*) IREN

The utility is among 20 comspanies interested in the Italian energy company Sorgenia, Il Mesaggero said on Tuesday.

(*) ALITALIA

Italian infrastructure group Toto Holding is willing to invest 200 million euros into Italy’s flagship carrier but faces opposition from state railway operator Ferrovie dello Stato and U.S. carrier Delta Air Lines, which are already involved in a rescue plan for Alitalia, Il Sole 24 Ore said on Tuesday.

(*) FERRETTI

The luxury yacht maker considers issuing a 250 million euros bond to repay the debt with its main shareholder, the Chinese conglomerate Weichai Group, before listing, daily MF said on Tuesday.

INDUSTRIAL STARS OF ITALY 3

Presentation of ‘Business Combination’ with Salcef Group in Milan (0815 GMT).

BIALETTI INDUSTRIE

Annual general meeting (0900 GMT).

M&C

Annual and extraordinary shareholders’ meetings (0900 GMT).

DIARY

Rome: opening conference at ‘Festival of Sustainable Development’ on “For a Europe World Champion of Sustainable Development” (0730 GMT); expected attendees Prime Minister Giuseppe Conte, Bank of Italy Governor Ignazio Visco, market regulator Consob Commissioner Anna Genovese-

Lecce: Deputy Prime Minister and Interior Minister Matteo Salvini attends signing of ‘Pact for urban security’ (0800 GMT); followed by news conference.

Florence: “Power Summit 2019” ends (0700 GMT); expected attendees include IBM Executive Vice President John E.Kelly III.

Florence: Officina MPS holds ‘Celebration Day’ with Banca Monte dei Paschi di Siena CEO Marco Morelli (1500 GMT).

Rome: “Acea Innovation Day” with Acea CEO Stefano Donnarumma, Terna CEO Luigi Ferraris, Italgas CEO Paolo Gallo, A2A CEO Luca Camerano, Open Fiber IPO-EOF.MI CEO Elisabetta Ripa (1230 GMT).

Rome: Luiss University holds “Global Sustainability Forum 2019” with Enel Chairwoman Patrizia Grieco (0900 GMT).

Rome: market regulator Consob holds conference on “The Controlling Body in Listed Companies” with Consob Commissioner Carmine di Noia (0700 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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