October 28, 2019 / 5:01 AM / 25 days ago

Italy - Factors to watch on Oct. 28

The following factors could affect Italian markets on Monday.

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

A right-wing coalition scored a net victory in a local election in the central Italian region of Umbria, official data from the Interior Ministry showed on Monday, giving a boost to Matteo Salvini’s League party.

ECONOMY

S&P Global confirmed Italy’s sovereign rating at BBB and maintained a negative outlook, the agency said on Friday, citing a stagnant growth as the main risk for the country’s creditworthness..

S&P added that the new government’s budget draft balances the need for supporting the economy against Italy’s limited fiscal space.

While the government fiscal targets included in the budgetary draft are deemed credible, the rating agency said that growth projections are “somewhat optimistic”.

S&P sees Italy’s economy expanding at 0.4% rate next year, below the government target of 0.6%.

DEBT

Italy’s Treasury said on Friday it would offer up to 6.25 billion euro in three long-term government bonds at an auction on October 30.

MEDIOBANCA

Italian billionaire Leonardo Del Vecchio slightly raised his stake in the investment bank to around 7.5%, ahead of the annual shareholder meeting to be held on Monday, two sources close to the matter told Reuters.

FIAT CHRYSLER AUTOMOBILES

The Italian-American carmaker said on Friday it is recalling 108,000 Ram 1500 diesel-powered pickup trucks in the United States for coolant leaks tied to reports of some fires and four minor injuries.

(*) UNICREDIT

The lender aid on Monday its cyber security team had identified a data breach involving a file created in 2015 and containing approximately 3 million records, all regarding Italian clients.

(*) ENEL

The CEO of full-fiber carrier Open Fiber (OF) told Affari & Finanza/la Repubblica on Monday that she is not surprised about funds’ interest in the company, answering a question on reports by Reuters that some infrastructure funds have signed or are considering signing non-disclosure agreements (NDA) to prepare bids for a stake in Open Fiber.

OF, owned by state lender CDP and Enel, has a market share of 70%, CEO Elisabetta Ripa said, adding the group is ready to offer a Content Delivery Network to Italy’s state broadcaster RAI.

(*) IPO - SANLORENZO

The yacht maker confirmed its IPO plan despite its rival Ferretti scrapped its project to list on the Milan bourse, Sanlorenzo’s owner Massimo Perotti told Affari & Finanza/la Repubblica on Monday.

(*) JUVENTUS

Juventus dropped points for just the second time this season in Serie A when they were held to a 1-1 draw at Lecce on Saturday.

(*) AS ROMA

AS Roma beat struggling AC Milan 2-1 at the Stadio Olimpico on Sunday to move up to fifth place in Serie A and continue the visitors’ miserable run.

(*) LAZIO

Ciro Immobile’s 89th-minute header gave Lazio a 2-1 win against Fiorentina in Florence on Sunday.

IPO - NEWLAT

Italy’s businessman Carlo De Benedetti, former owner of pasta maker Buitoni, invested 0.5 million euros in the Italian food group that completed its initial public offering last Thursday, Il Sole 24 Ore reported on Saturday. Other investors in the group are asset manager Algebris, Allianz Global Investors, Fideuram, Eurizon, Mediolanum and Arca. Newlat will debut in Milan on Oct. 29.

EURIZON

The asset management company of Italian bank Intesa SanPaolo said on Saturday it had started a partnership with Oval Money, an Italian-English fintech startup active in the savings and digital payment services, in which it has made a direct minority investment.

DIARY

Perugia, Matteo Salvini, leader of the far-right League party, holds a press conference (1000 GMT)

Rome, Poste Italiane holds meeting with small town mayors, with Economy Minister Roberto Gualtieri; Prime Minister Giuseppe Conte expected to attend (0830 GMT).

Marina di Ravenna, Eni presents “ISWEC-Inertial Sea Energy Converter” with CEO Claudio Descalzi, state lender Cassa Depositi e Prestiti CEO Fabrizio Palermo, Prime Minister Giuseppe Conte (1630 GMT).

Telecom Italia (TIM) presents digital education project for Italy with TIM CEO Luigi Gubitosi (1200 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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