October 12, 2018 / 6:43 AM / 2 months ago

Italy - Factors to watch on Oct. 12

MILAN, Oct 12 (Reuters) - The following factors could affect Italian markets on Friday. 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 IT/DIA.

POLITICS (*) The European Central Bank won’t come to Italy’s rescue if its governments or bank sector run out of cash unless the country secures a bailout from the European Union, five senior sources familiar with the ECB’s thinking told Reuters. (*) Italy’s Economy Minister Giovanni Tria met U.S. Treasury Secretary Steven Mnuchin on Friday in Bali, stressing Rome’s determination to ensure a reduction in the country’s debt to gross domestic product ratio, an Italian Treasury statement said. (*) Italy needs to respect European Union budget rules with its 2019 budget and build a cash buffer to cushion the next economic downturn, the head of the International Monetary Fund’s European department Poul Thomsen said on Friday.

Rome, Deputy Prime Minister and Economic Development Minister Luigi Di Maio convenes trade unions on Alitalia CAITLA.UL (0730 GMT).

ECONOMY

Milan, ASSIOM FOREX starts “XVI PAN European Banking Meeting” (1230 GMT); ends on Oct. 13.

The Italian Senate voted on Thursday to push back the goal of a balanced budget from 2020 to beyond 2021, reflecting the government’s new fiscal targets issued this month.

COMPANIES (*) BANCA CARIGE

Banca Carige said it would look at naming an investment bank at an upcoming board meeting to study possible tie-ups as part of plans to turn round the bank.

The ECB has given Carige more time for its capital plan on condition the lender gives details on its alliance plans with the appointment of an adviser, Il Messaggero said.

CREDITO VALTELLINESE

Credito Valtellinese holds ordinary shareholders’ meeting.

ATLANTIA

Atlantia’s motorway unit Autostrade per l’Italia said on Thursday it was ready to rebuild Genoa collapsed bridge in nine months and would present a project to the special commissioner appointed by the government.

The group will hold a board meeting on Friday to update on restructuring operations ahead of the acquisition of Abertis, Il Sole 24 Ore said.

(*) FIAT CHRYSLER

Car production in Italy in 2018 could remain below one million, taking volumes back to levels of two years ago, Il Sole 24 Ore said.

(*) FINCANTIERI

The merger of Fincantieri with France’s Naval Group risks being put in question due to tensions between the Italian and French governments, Il Messaggero said. La Stampa said France’s economy minister could question the idea of a share swap and look instead to Germany’s TKMS.

(*) CAMPARI

Campari has signed a partenership deal with Tmail, the B2C marketplace of Alibaba, to offer its leading drinks to Chinese consumers, several papers said.

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:............................... (Reporting by Francesca Landini)

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