November 22, 2017 / 5:02 AM / 23 days ago

Italy - Factors to watch on Nov. 22

The following factors could affect Italian markets on Wednesday.

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

Bank of Italy representative Carmelo Barbagallo speaks before Bank Inquiry Parliamentary Committee on Banca Monte dei Paschi di Siena (0930 GMT).

DEBT

Treasury announces sale of CTZ and BTPei bonds, with relative amounts to be auctioned on Nov. 27.

Treasury repurchase auction targeting the following bonds: CCTEU bonds due April 15, 2018, CTZ bonds due Dec. 28, 2018, 0.10 percent BTP bonds due April 15, 2019, 0,05 percent BTP bonds due Oct. 15, 2019, 0,35 percent BTP bonds due Nov. 1, 2021.

COMPANIES

BANCA CARIGE

The Milan bourse said on Tuesday that the adjusted reference price for Carige shares after the launch of the capital increase on Wednesday had been set at 0.0121 euros. (*) Shareholder Aldo Spinelli told Il Sole 24 Ore that the lender’s main stakeholders are ready to up their stakes in the bank now that the banking consortium for the capital hike has been formed and is supporting the move. (*) The bank warned that its working capital is not sufficient to satisfy its own needs for the next 12 months, the lender said in he prospectus for its imminent capital increase.

Starts capital increase; news conference with CEO Paolo Fiorentino to present the capital increase in Genoa (10,30).

CREDITO VALTELLINESE

Italian mid-tier lender Credito Valtellinese is in talks with banks to set up a consortium to underwrite its planned 700 million euros ($822 million) capital increase, a source close to the matter said on Tuesday.

TELECOM ITALIA

Presents its digital transformation project with CEO Amos Genish in Turin (0900 GMT).

TELECOM ITALIA (TIM), MEDIASET

Mediaset and the joint venture between TIM and Vivendi’s Canal Plus could sign an agreement for the sale of the TV group’s free to air content, as part of a deal between the Milan-based broadcaster and the French group, Il Sole 24 Ore reported. The deal would last for six years and its value would be high enough to compensate Mediaset of the failed pay-TV deal with Vivendi, the report added.

FIAT CHRYSLER

The company will halt production of Maserati’s Quattroporte and Ghibli models at its Grugliasco plant in northern Italy for 10 days between Nov. 27 and Dec. 29, the FIOM union said in a statement Tuesday.

(*) BANCA MONTE DEI PASCHI

The Italian Treasury intends to confirm Alessandro Falciai as chairman and Marco Morelli as CEO of the lender, which will close its balance sheets with a loss of 3 billion euros, la Repubblica reported. The lender is due to hold its next shareholders meeting on Dec 16 and Wednesday is the last day to present lists of candidates for the board.

ASTALDI

Fitch Ratings has downgraded Italy-based building construction company Astaldi Long-Term Issuer Default Rating (IDR) and senior unsecured rating to ‘B’/‘RR4’ from ‘B+'. The Outlook is Negative. (*) The group’s relaunch - including a 200 million share issue and 200 million euros of new credit lines - might involve the entrance of a new partner, il Messaggero reported, adding that it has hired three consultants to advise on how to proceed with negotiations with five different banks.

IPO

The indicative valuation range for shares in Gamenet’s initial public offering (IPO) was set between 8.70 and 11.00 euros per share, the group’s shareholders said on Tuesday.

EDISON

Full takeover bid on Frendy Energy shares starts; ends on Dec. 19.

PIERREL

Annual general meeting to approve 2016 results.

INNOVATEC

Innovatec said on Tuesday that the holders of the bond due 2020 have approved to postpone the payment of coupons due Oct. 2017, Oct. 2016 and April 2017‍​

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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