May 24, 2018 / 4:03 AM / 4 months ago

Italy - Factors to watch on May 24

The following factors could affect Italian markets on Thursday.

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

President Sergio Mattarella on Wednesday gave political novice Giuseppe Conte a mandate to lead the first government in Italy made up of anti-establishment parties that have vowed to shake up the European Union.

Giuseppe Conte, the little-known law professor named as Italian prime minister on Wednesday after surviving criticism he had inflated his academic credentials, will now have to prove he is up to the job of leading the euro zone’s third largest economy.

ECONOMY

Bank of Italy Governor Ignazio Visco speaks at international meeting of prevention of corruption and transparency managers in Rome (0730 GMT).

DEBT (*) Italy should further cut its structural budget deficit by 0.3 percent this year and press ahead with prudent budget policies, the Vice President of the European Commission told Corriere della Sera on Thursday.

The EU executive warned Italy’s incoming government on Wednesday that it should go on cutting the country’s heavy public debt as EU officials pointed to market pressure as a more effective form of euro zone discipline than finger-wagging from Brussels.

Treasury announces sale of 6-month BOT bills, with relative amounts to be auctioned on May 29.

Italy’s Treasury said on Wednesday it would offer up to 3 billion euros ($3.51 billion) in bonds at an auction on May 28.

TELECOM ITALIA

Italy’s communications regulator AGCOM said on Wednesday the government would auction frequencies for fifth-generation mobile services in September, in a move it expects to raise at least 2.5 billion euros ($2.9 billion) for state coffers.

(*) YOOX NET-A-PORTER

The group said on Wednesday Chief Executive Federico Marchetti exercised a total of 2,417,147 stock options as part of the bid by Swiss luxury conglomerate Richemont on the online retailer. A further 13 beneficiaries of stock option plans exercised overall 726,999 options.

(*) TREVI

In a statement on Wednesday Trevi said it was in talks with Bain Capital Credit for a possible deal regarding all of its debt. To date there was no commitment or exclusivity, it added.

Reuters earlier reported that the Italian engineering firm has chosen Bain Capital Credit for a rescue deal worth more than 900 million euros ($1.06 billion), four sources told Reuters.

(*) UBI

The lender does not want to sell its bad loan management platform although the bank has considered a potential partnership with a specialised operator, Chief Executive Victor Massiah was quoted as saying by Il Sole 24 Ore.

(*) MEDIASET

The advertising unit of the private broadcaster has already signed contracts for 70 million euros with investors ahead of the 2018 World Cup, just below the 78 million euros spent for the event’s soccer match TV broadcasting rights, MF reported.

AUTOGRILL

Annual general meeting (0830 GMT) and board meeting on revenues up to April 30, 2018.

BOMI ITALIA

Ends capital increase.

COSTAMP GROUP

Investor presentation “Business Model and Growth Strategy” with Chairman and CEO Marco Corti (0930 GMT).

ENEL

Annual and extraordinary shareholders’ meetings (1200 GMT).

WIIT

Board meeting on Q1 results.

BASTOGI

Annual general meeting (0830 GMT).

EEMS

Annual general meeting.

JUVENTUS

Napoli appointed the much-travelled and hugely successful Carlo Ancelotti as their new coach on Wednesday, handing him the job of trying to end Juventus’ dominance of Serie A.

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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