September 21, 2018 / 4:03 AM / 3 months ago

Italy - Factors to watch on Sept. 21

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 .

ECONOMY (*) Italy should target a deficit of 2.5 percent of its gross domestic product for next year, the ruling party League Economy Head Claudio Borghi said late on Thursday during a talk show for private broadcaster La7. Borghi said this level of deficit would allow the debt ratio to GDP to stabilize and also leave wiggle room to cut taxes and implement a universal income for the poor.

Varenna, second day of three-day conference on “Administrative Studies” organised by state auditor (0730 GMT); ends on Sept. 22. Expected attendees include Public Administration Undersecretary Mattia Fantinati, state general accountant Daniele Franco.

Rome, “Atreju” 21st edition starts, ends on Sept. 23. Expected attendees include Liguria Region Governor Giovanni Toti, Sicily Region Governor Nello Musumeci, Senate Deputy Speaker Ignazio La Russa, Cabinet Undersecretary Giancarlo Giorgetti, Chamber of Deputies Deputy Speaker Fabio Rampelli.

DEBT

Treasury announces sale of 6-month BOT bills, with relative amounts to be auctioned on Sept. 26.

INTESA SANPAOLO

Intesa Sanpaolo CEO Carlo Messina said on Thursday the lender is far from any development in the search for partner for Eurizon.

ATLANTIA

Italy’s Atlantia, Spain’s ACS and Germany’s Hochtief will next week enter the home straight in their acquisition of Spanish toll-road group Abertis, quelling concerns that a disaster involving one of Atlantia’s units could halt it. (*) Among different options, the government could weigh the possibility to ask infrastructure fund F2i to take a stake in Autostrade per l’Italia, Il Sole 24 Ore said, adding the fund declined to comment on the speculation.

BANCA CARIGE

Carige’s top investor secured a majority of seats on the beleaguered Italian bank’s new board on Thursday, after falling out with a third chief executive in three years and pushing for a shake-up. (*) It is too early to talk about a merger with a rival, Mattia Malacalza told La Stampa.

(*) TELECOM ITALIA, INWIT

The board scheduled for Sept. 24 will discuss the sale of Persidera and Sparkle units, several newspapers said. According to Il Sole 24 Ore the group could weight the possibility to cut its stake in telecom masts unit Inwit. Core shareholders Elliott and Vivendi agree on the need to fire Tim CEO Amos Genish, Il Fatto Quotidiano reported.

(*) POSTE ITALIANE

The group is weighing the possibility to buy a 34.5 percent stake in payment services group Sia, which is owned by Cassa Depositi e Prestiti, Il Sole 24 Ore said, adding Poste hired JPMorgan to advise on the deal. JPMorgan declined to comment on the rumours.

(*) ENEL

Enel Green Power and infrastructure fund F2i has decided to end their joint venture EF Solare Italia, La Repubblica reported.

CEO Francesco Starace attends conference on “E-mobility Revolution” in Rome (0800 GMT).

(*) FINCANTIERI

The shipbuilder CEO Giuseppe Bono told Il Foglio that the company is ready to rebuild the Genoa bridge.

ITALIAN BANKS

Italy’s parliament on Thursday gave its final approval to a decree that delays a reform of small banks, slowing an overhaul planned by the former centre-left administration that was backed by the European Central Bank.

SS LAZIO

Lazio said its profit for the financial year ended on June 30 came in at 37 million euros, up from 11.4 million euros.

MONDADORI

The publisher on Thursday denies negotiations regarding the sale of Mondadori France, exception for Reworld Media.

Board meetings on H1 results: EEMS, GIORGIO FEDON (0800 GMT), ILLA.

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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