November 8, 2018 / 5:04 AM / 10 days ago

Italy - Factors to watch on Nov. 8

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

Deputy Prime Minister and Interior Minister Matteo Salvini receives Libyan Interior Minister Fathi Ali Bashagha (1600 GMT).

ECONOMY

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

DEBT

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

The Treasury said on Wednesday it would sell 5.5 billion euros in 12-month bills on Monday.

COMPANIES (*) ASSICURAZIONI GENERALI

Italy’s top insurer Generali GASI.MI said on Thursday its net profit in the first nine months of the year rose 26.8 percent to beat expectations, lifted by stronger life premiums and disposals.

The CFO said higher BTP/Bund spread took 4 bps off company’s Solvency II ratio. (*) UNICREDIT

Italy’s biggest bank UniCredit missed third-quarter profit forecasts due to a writedown on its stake in Turkish bank Yapi Kredi and said it would step up cost cuts to offset lower revenues.

TELECOM ITALIA

The CEO Amos Genish is likely to come under pressure on Thursday when the board discusses impairments with 29 billion euros of good will at stake, Il Sole 24 Ore said.

(*) POSTE ITALIANE

Poste Italiane is taking capital management actions to boost its solvency ratio after it said the ratio sttod at 172 percent end-September.

The group is leaning towards picking two partners for its car insurance business and Allianz and Unipol are in pole position, Il Sole 24 Ore said.

TOD’S

The Italian luxury group said on Wednesday nine-month sales fell 2.2 percent as brands including its namesake one and Roger Vivier were hit by currency fluctuations.

The company is cautious on the market expectations for its full-year results, which it sees as “feasible but challenging”, Chief Financial Officer Emilio Macellari told analysts in a conference call, adding the company was counting on the last two months of the year to lift sales.

BANCO BPM

Italy’s third-largest lender saw its core capital improve in the third quarter and beat third-quarter net profit forecasts on Wednesday thanks to lower costs and an asset sale that helped offset flat fees and falling interest income.

The bank’s CEO told an analyst call it was studying the best way to combine a bad loan sale with the rationalisation of its consumer finance activities.

BPER BANCA

Italy’s sixth-largest bank said on Wednesday it had transferred 2 billion euros in bad loans to a securitisation vehicle at 32.5 percent of the portfolio’s gross book value. The bank’s gross soured loan ratio is expected to fall to 14.4 percent once it completes the sale from 17.4 percent at the end of June.

UBI BANCA

Italy’s fifth-largest bank was working hard to increase the rates it charges for customer loans to offset a sharp increase in funding rates caused by a sell-off in Italian bonds.

The CEO said the bank ha received around 10 offers for its bad loan portfolio up for sale.

MAIRE TECNIMONT

The CFO of the Italian engineering group confirmed on Wednesday 2018 guidance for revenues, EBITDA and the net financial position.

DIGITAL BROS

Board meeting on Q1 results.

DIGITAL VALUE

Listing ceremony (0630 GMT).

Board meetings on Q3 results: AZIMUT, BPER BANCA followed by conference call (1700 GMT), LEONARDO followed by conference call (1700 GMT), SALVATORE FERRAGAMO followed by conference call (1700 GMT), TELECOM ITALIA TIM, UNIPOL and UNIPOLSAI (press release on Nov. 9), ACEA, AEFFE followed by conference call, AVIO, BANCA IFIS followed by conference call, BANCA INTERMOBILIARE, BANCA PROFILO, BANCO DI DESIO, BE, CATTOLICA ASSICURAZIONI (press release on Nov. 9), CEMENTIR followed by conference call, COIMA RES , CREDITO EMILIANO, D’AMICO INTERNATIONAL SHIPPING followed by conference call, DEA CAPITAL , DE’ LONGHI followed by conference call, EPRICE followed by conference call (1400 GMT), EQUITA GROUP, FINCANTIERI, HERA followed by conference call (1430 GMT), ITALMOBILIARE, MASSIMO ZANETTI followed by conference call, RETELIT followed by conference call.

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

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