October 16, 2019 / 4:03 AM / a month ago

Italy - Factors to watch on Oct. 16

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 (*) Italy’s government approved a draft 2020 budget in the early hours of Wednesday that aims to cut taxes for middle-earners and crack down on tax evaders, while holding the deficit at the same level as this year, government officials said.

Prime Minister Giuseppe Conte speaks ahead of the European Council meeting of Oct. 17-18 at Senate (0830 GMT) and at Italy’s lower house (1400 GMT).

ECONOMY

ISTAT releases August sales and orders data (0800 GMT) and September CPI and HICP final data (0900 GMT).

DEBT

Italy’s Treasury said on Tuesday it would buy back four government bond on October 17.

MEDIASET

Mediaset Espana’s shareholders opted to cash in 39 million shares ahead of a corporate overhaul aimed at folding the Spanish broadcaster into its parent unit Mediaset under a Dutch holding company, Mediaset Espana said on Tuesday.

TELECOM ITALIA

Former Bank of Italy director general Salvatore Rossi is the leading candidate to take over as chairman of Italian biggest phone group, a source close to the matter said on Tuesday. (*)JP Morgan cut on Wednesday the target price to 0.67 euros from 0.69 euros.

ATLANTIA, ALITALIA

Italian loss-making airline Alitalia won a commitment from toll-road operator Atlantia and state railways Ferrovie dello Stato on Tuesday to come to its rescue provided a number of conditions were met.

GENERALI

The good results Italy’s top insurer has racked up are proof that the insurer is well run and has the backing of shareholders, the group’s chairman Gabriele Galateri di Genola said on Tuesday.

(*) FIAT CHRYSLER

European car registrations rose 14.4% in September as the market recovered from the previous month’s slump, led by robust gains at major brands Volkswagen and Renault , industry data published on Wednesday showed. FCA’s Alfa Romeo registrations rose 25.9% year on year.

(*) CERVED

Swedish debt collector Intrum is the top candidate to buy the Italian credit data and information group’s bad loan unit, MF reported on Wednesday, adding that the asset could be valued at about 400 million euros.

BANCA GENERALI

The Italian asset manager said on Tuesday it has completed the acquisition of 90.1% of the capital of the Swiss private banking boutique Valeur Fiduciaria.

BIODUE

The investment vehicle Aurora Dodici has bought 48.6% of capital at 6.5 euros per share and launched a takeover bid at the same price, the company said on Tuesday.

SIAS, ASTM, ATLANTIA (*) Italy’s infrastructure group Gavio is open to investing in Atlantia’s toll-road unit Autostrade per l’Italia (ASPI) if the government were to ask, its top shareholder said on Wednesday in an interview.

Extraordinary shareholders’ meetings on merger between Astm and Sias to be held.

(*) SALVATORE FERRAGAMO

RBC cut on Wednesday the target price to 17 euros from 19 euros.

DIARY

Rome, Prime Minister Giuseppe Conte attends opening ceremony of “World Food Day” (0715 GMT).

Rome, forum on Italian energy transition with Prime Minister Giuseppe Conte, Industry Minister Stefano Patuanelli, Education Minister Lorenzo Fioramonti, Environment Minister Sergio Costa, Infrastructure and Transports Minister Paola De Micheli, Economy Deputy Minister Laura Castelli (to Oct. 17).

Rome, Infrastructure and Transports Minister Paola De Micheli speaks before Chamber of Deputies Transports Committee (1200 GMT).

Milan, news conference to present tenth edition “Festival of Diplomacy” with Fincantieri Chairman Giampiero Massolo, Foreign Affairs Ministry Director General Luca Sabbatucci (0900 GMT).

Milan, conference on “Finance and new strategies for the economy and development for businesses” with Bank of Italy Milan headquarter Director Giuseppe Sopranzetti, Illimity Bank CEO Corrado Passera, Banca Progetto CEO Paolo Fiorentino, China Bank of Construction Director General Zhang Zhe (1300 GMT).

Milan, Pirelli CEO Marco Tronchetti Provera delivers opening address at a conference on “The healthcare to come”. (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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