October 29, 2019 / 5:04 AM / 17 days ago

Italy - Factors to watch on Oct. 29

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 .

POLITICS

Italy’s 2020 budget will include new taxes on plastic and sugary drinks designed to raise 1.3 billion euros, government officials said on Monday, prompting protests from producers.

The plastic tax rides a wave of international action against pollution, and is alone intended to raise almost 1 billion euros ($1.1 billion), a source familiar with the matter told Reuters.

DEBT

Treasury sells 6.5 billion euros new 6-month BOT bills. Subscriptions close at 1000 GMT.

FIAT CHRYSLER

Major automakers, including Fiat Chrysler, are siding with the Trump administration in its bid to bar California from setting its own fuel efficiency rules or zero-emission requirements for vehicles, the companies said in a filing with a U.S. appeals court late on Monday.

(*) BANCA CARIGE

Before giving a green light to the troubled Italian lender’s rescue plan, European Central Bank supervisors will meet with representatives of Italy’s depositor protection fund (FITD) Wednesday to discuss some crucial aspects of the plan, Il Sole 24 Ore reported citing supervisory sources.

(*) BANCA IFIS

Italian bad loan specialists Banca IFIS and Elliott-owned Credito Fondiario are yet to reach an agreement on a possible debt recovery partnership ahead of an Oct. 31 deadline, MF reported.

Il Messaggero reported instead that, barring any last-minute surprises, an accord has been reached and will be approved at board meetings scheduled on Wednesday.

(*) DE LONGHI

Berenberg has cut its target price on the Italian home appliance maker to 23 euros from 26 euros per share.

(*) SALVATORE FERRAGAMO

HSBC has cut its target price on the Italian luxury goods group to 16 euros from 18 euros per share.

ATLANTIA

Italy’s environment ministry has rejected a plan by Aeroporti di Roma, a unit of infrastructure group Atlantia, to enlarge Rome’s Fiumicino airport, a ministry spokeswoman said on Monday. ADR reiterated it had been working with Italy’s civil aviation authority ENAC for some time on a plan to increase the airport’s capacity while fully respecting the environment and the area around the airport.

GEDI

Carlo De Benedetti resigned on Monday as honorary president of the publishing group citing ongoing disagreements on how to manage the company.

AS ROMA

AS Roma shareholders approved a proposal of up to 150 million euros by way of capital increase.

NEWLAT FOOD

The Italian food group that owns the Buitoni pasta brand debuts on the Milan bourse’s main bourse segment.

CAMPARI GROUP

Board meeting on Q3 results, followed by conference call (1200 GMT).

PIRELLI

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

CERVED GROUP

Board meeting on Q3 results.

DIARY

Marghera (VE), Fincantieri CEO Giuseppe Bono expected to attend Carnival and Fincantieri presentation ceremony of new cruise ship “Carnival Panorama”; (1000 GMT).

Rome, Eni CEO Claudio Descalzi interviewed by Chatham House Director Robin Niblett (1630 GMT).

Rome, Banca Mediolanum Deputy Chairman Giovanni Pirovano attends round-table discussion (1400 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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