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Italy - Factors to watch on Nov. 8
November 8, 2017 / 5:03 AM / 13 days ago

Italy - Factors to watch on Nov. 8

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 .

POLITICS

Gondolas and water taxis will never again have to vie with big cruise ships for space in front of Venice’s iconic St. Mark’s Square, an Italian governmental committee decided on Tuesday.

Defence Minister Roberta Pinotti speaks before Chamber of Deputies and Industry committees on the European developing programme for the defence sector (0730 GMT).

Veneto Region Governor Luca Zaia speaks before the Fiscal Federalism Committee (1300 GMT).

ECONOMY

Italian Economy Minister Pier Carlo Padoan said on Tuesday that third-quarter growth accelerated to about 0.5 percent compared with the previous three months, after expanding 0.3 percent in the second quarter.

Bank of Italy releases October data on Target 2 liabilities and European Central Bank funding to Italian banks.

DEBT

Italy’s Treasury said on Tuesday it would sell 5.5 billion euros in 12-month bills at auction on Friday.

Treasury announces sale of BTP bonds, with relative amounts to be auctioned on Nov. 13.

COMPANIES (*) UNICREDIT

UniCredit’s board will appoint a new chairman at the board meeting on Wednesday and former Finance Minister and Bank of Italy top executive Fabrizio Saccomanni is favourite, La Stampa said.

Board meeting on Q3 results, press release on Nov. 9.

(*) ITALIAN BANKS

The legal office of the European Parliament on Wednesday will likely publish an opinion on the latest rules on bad loans released by the European Central Bank, some Italian newspapers reported.

The legal opinion will say that the ECB has gone beyond its mandate, la Repubblica and Il Messaggero reported. According to Il Messaggero the European Parliament will ask for the beginning of whatever reform is made to be put back to February.

BANCA MONTE DEI PASCHI DI SIENA

Italy’s fourth-largest bank, rescued from the brink of collapse by a state bailout, returned to the black in the third quarter thanks to one-offs.

MEDIASET

The Italian broadcaster said on Tuesday it expected to achieve a positive operating and net results this year, after posting third quarter sales broadly in line with last year.

The CFO said there was no news with regards to a possible agreement with Vivendi and that Mediaset had not received an offer from the French group.

CAMPARI

The beverage group could take a pause in its campaign to sell non-core assets, CEO Bob Kunze-Concewitz said on Tuesday after the beverage group reported a healthy growth in nine-month organic sales.

PRYSMIAN

Chief Executive Valerio Battista said on Tuesday that reaching an adjusted EBITDA of around 730 million euros for full-year 2017 is “challenging but feasible”.

TOD‘S

The group’s chairman and majority owner Diego Della Valle is starting to consider his future role in the company, after the Italian luxury group made a surprise appointment of a new CEO, sources familiar with the matter said on Tuesday.

(*) CATTOLICA

The transformation of the insurance in a joint-stock company is an option but the plan is not under review at the moment, CEO Aberto Minali was quoted as saying by Il Sole 24 Ore.

INWIT

The group said on Tuesday 9-month revenue was 261.8 million euros, up from 248.8 million euros in the same period last year.

Conference call on Q3 results (0930 GMT).

CREVAL

Mid-sized Italian bank Creval said on Tuesday it would seek to sell new shares for up to 700 million euros ($811 million) to fund a balance-sheet clean up under its new business plan. (*) The bank said on Tuesday that the board has submitted for shareholders approval the reserve stock split of its shares on a ratio of one new for every ten existing shares.

ENEL

Board meeting on Q3 results.

ASSICURAZIONI GENERALI

Board meeting on Q3 results, press release on Nov. 9.

YOOX NET-A-PORTER

Board meeting on Q3 results, followed by conference call (1700 GMT).

BANCA GENERALI

Board meeting on Q3 results, followed by conference call (1300 GMT).

BPER BANCA

Board meeting on Q3 results, followed by conference call (1700 GMT).

CEMENTIR

Board meeting on Q3 results.

GEOX

Board meeting on Q3 results, Q3 revenues, press release and conference call at 1630 GMT.

HERA GROUP

Board meeting on Q3 results, followed by conference call (1430 GMT).

SAFILO GROUP

Board meeting on Q3 results (Q3 main indicators), followed by conference call (1730 GMT).

TAS GROUP

Board meeting on Q3 results.

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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