September 11, 2018 / 4:04 AM / 12 days ago

Italy - Factors to watch on Sept. 11

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 .

ECONOMY

ISTAT releases January-June Italian regional export data (0800).

Bank of Italy releases July data on bank lending and domestic government bond holdings at Italy-based banks.

TELECOM ITALIA

Five telecom groups made initial bids in Italy’s 5G auction with Iliad winning one of the frequencies as a sole bidder.

FIAT CHRYSLER

U.S. hedge fund Tiger Global Management has raised its stake in Fiat Chrysler Automobiles to 873.3 million euros, a recent filing with the Dutch regulator showed.

(*) ATLANTIA, AUTOSTRADE PER L’ITALIA, FINCANCTIERI

Italy’s government is working on two decrees, one two revoke Austostrade’s motorway concession and another to task Fincantieri with the rebuilding of the Genoa bridge, La Stampa said.

(*) UNICREDIT

The bank is selling 2 billion euros worth of non-performing loans, half of it secured and the other unsecured, Il Sole 24 Ore said. The secured portfolio, dubbed “Project Milan”, is at the stage of non-binding offers, and some specialised U.S. funds are interested. The second batch of unsecured NPLs, dubbed “Project Turin” is at an advanced stage and Cerberus and Banca Ifis are in the running for it.

In case a potential tie-up with SocGen doesn’t go through, the bank’s CEO is already studying possible alternative, MF said, without citing sources. The paper added that Spain’s BBVA and Dutch ABN AMRO would be ideal targets for the lender.

(*) POPOLARI BANKS

Several “popolari” banks are finalising a maxi-securitisation of bad loans worth a combined 1.7 billion euros, Il Sole 24 Ore said.

(*) BANCA MONTE DEI PASCHI DI SIENA

Italy’s Treasury, the main shareholder in the bank, is considering the idea of selling the bank’s online banking unit Widiba to help pave the way for a potential merger with another lender, Il Giornale said. The paper cites sources close to the bank as saying that a sale of Widiba was not foreseen.

SARAS

Norges Bank has 3.191 percent of Italian refiner Saras, Consob said in a filing.

ASTALDI

Moody’s has downgraded Astaldi to Caa2, outlook negative.

INBRE

Inbre first half net profit rose to 1.3 million euros.

Board meetings on H1 results: BIALETTI INDUSTRIES, CEMBRE, ESPRINET, GUALA CLOSURES, SOL, TAMBURI INVESTMENT PARTNERS.

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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