October 22, 2019 / 6:53 AM / 24 days ago

Italy - Factors to watch on Oct. 22

The following factors could affect Italian markets on Tuesday.

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 .

DEBT

Treasury ends offer of new eight-year inflation-linked ‘BTP Italia’ bond reserved for small investors, subject to early closure. On Monday, the first day of offering, Italy sold 1.995 billion euros ($2.2 billion) of its new ‘Btp Italia’.

Treasury announces sale of CTZ and BTPei bonds, with relative amounts to be auctioned on Oct. 25. Treasury may cancel BTPei bond offer.

COMPANIES (*) FIAT CHRYSLER

Renault Chairman Jean-Dominique Senard said a possible deal with Italian carmaker Fiat was not on the table for now, although he did not rule out it being re-examined at some stage in the future.

UNICREDIT

Italy’s biggest bank is looking at whether it can distance itself from its home country’s stagnating economy and fractious politics by putting some of its most prized assets under one roof in Germany, people familiar with the matter said.

The lender has sold 6.06 billion euros ($6.8 billion) in bad loans to a securitisation vehicle, Scope Ratings said, as it works to meet stepped-up soured debt reduction goals this year. (*) The bank is studying the option of placing its stakes in foreign banks within a holding company based in Milan, Il Messaggero reported, adding the headquarters of holding company could be moved to Germany in the medium term. (*) PRYSMIAN

Global cable maker Prysmian said on Tuesday U.S. Carlisle Companies Incorporated had presented an offer to buy its French space and aerospace cables unit Draka Fileca for 73 million euros ($81.42 million).

(*) SALINI IMPREGILO, ASTALDI

Salini Impregilo and Astaldi said on Tuesday they had won a contract for construction of a light rail transit project in Canada. Salini Impregilo holds a 42% stake in the joint venture, equal to 385 million euros. Astaldi has a 28% stake, worth 257 million euros in the contract. (*) POSTE ITALIANE

Goldman Sachs raised Poste to ‘Buy’ from ‘Neutral’, GS has raised the target price to 13 euros from 10 euros.

(*) ALITALIA, ATLANTIA

Italy’s industry ministry will urge Lufthansa to make clear its commitment to invest in the Italian carrier, Il Sole 24 Ore reported.

A new deadline to present a binding offer for Alitalia will be set on Dec. 1, La Repubblica said.

(*) TOD’S

Rbc has cut its target price to 36 euros from 37 euros.

(*) SALVATORE FERRAGAMO

Citigroup has cut the target price to 14 from 15.2 euros.

TELECOM ITALIA

Italy’s biggest phone group board has appointed former Bank of Italy Deputy Governor Salvatore Rossi as chairman. (*) State fund CDP could increase its stake in Telecom Italia to 12% in the medium term, using proceeds coming from a potential sale of Open Fiber to infrastructure funds, Il Messaggero said.

ENEL

Italy’s biggest utility said on Monday its business in Chile had not been impacted by the unrest which has hit the country and prompted the government to declare a state of emergency.

GEDI

One of the sons of industrialist Carlo De Benedetti rejected his father’s “painful” attacks on his and his brother’s management of the publisher of the La Repubblica and La Stampa newspapers, saying they were committed to the group behind some of Italy’s top dailies after a sharp slide in quarterly earnings.

Earlier on Monday, the publisher reported a sharp decline in net profit in the third quarter to 0.7 million euros from 3.5 million euros ($3.91 million) a year ago and said it did not expect any significant changes in market trends for the full-year. (*) Italian market watchdog Consob has put under the microscope Gedi shares’ movements last week, Il Sole 24 Ore reported adding that trading volume for the stock jumped ahead of a offer from Carlo De Benedetti to buy 29.9% in the company.

AMBIENTHESIS

The Italian environmental operator has signed a deal with Bee’ah Sharjah Environment to set up a joint venture for the Middle East market.

DANIELI & C.

FY results web presentation (1500 GMT).

NEWLAT FOOD

Italian food group Newlat Food IPO ends (1100 GMT).

DIARY

Rome, shopkeepers’ association Confesercenti holds assembly; Prime Minister Giuseppe Conte and Economy Minister Roberto Gualtieri attending (0730 GMT).

Turin, Prime Minister Giuseppe Conte attends meeting on industrial crises (1300 GMT); visits FCA Mirafiori plant (1510 GMT).

Rome, conference on “The digital transformation: new tools for work development and sustainability” with Deputy Economy Minister Laura Castelli; Labour Minister Nunzia Catalfo delivers closing remarks (0830 GMT).

Rome, European Affairs Minister Vincenzo Amendola attends conference on golden power regulation (1315 GMT).

Rome, Infrastructure and Transports Minister Paola De Micheli speaks before Chamber of Deputies Environment Committee (1000 GMT).

Rome, Regional Affairs Minister Francesco Boccia speaks before Chamber of Deputies Regional Affairs Committee (1030 GMT).

Milan, news conference to present new look of “Triennale Milan Theatre” with UBI Banca Chairwoman Letizia Moratti, UBI Banca banking Foundation Chairman Livio Strazzera (1000 GMT).

Milan, hearing on the merits of the appeal against Simon Fiduciaria requesting the cancellation of two Mediaset shareholder meeting resolutions of June 2018.

Milan, Italian Strategic Fund CEO Maurizio Tamagnini attends conference at ‘Milan Fashion Global Summit’ on “The Italian excellence of the supply chain and the strategies of the big luxury groups” (0700 GMT).

Milan Stock Exchange starts “STAR Conference” in London; ends on Oct. 23.

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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