September 27, 2018 / 4:02 AM / 20 days ago

Italy - Factors to watch on Sept. 27

The following factors could affect Italian markets on Thursday.

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 Economy Minister Giovanni Tria does not plan to resign over a budget disagreement with the ruling parties, a spokeswoman for the ministry said on Thursday, dismissing a report in daily La Stampa which said he “was ready to leave”.

Italy’s new government plans to present its first budget targets on Thursday, ending a drawn-out tussle which has pitted the coalition parties against Economy Minister Giovanni Tria.

Italy’s ruling parties, the anti-establishment 5-Star Movement and the right-wing League, want the 2019 budget deficit to be set at 2.4 percent of national output, a source from the ruling coalition said on Wednesday.

ECONOMY

Cabinet meeting on NADEF, an update to the Economy and Finance Document (1600 GMT).

“S&P Italy Sovereign & Bank Conference 2018” in Milan (0700 GMT).

ISTAT releases september consumer and business confidence data (0800 GMT).

Chamber of Deputies Transport Committe deliberates survey on 5G (1200 GMT).

Cernobbio, World Manufacturing Forum starts annual meeting “Manufacturing Revolution to Promote Global Resilience” (0700 GMT); ends on Sept. 28. Expected attendees include Lombardy Region Governor Attilio Fontana, Economic Development Ministry Undersecretary Michele Geraci and Director General Stefano Firpo, Lavazza Deputy Chairman Marco Lavazza.

Rome, Deloitte Strategy Council holds conference on “Fiscal Equity and Sustainable Economic Growth” with Deloitte Italian unit CEO Enrico Ciai, Poste Italiane Chairwoman Maria Bianca Farina, Bank of Italy director General Salvatore Rossi (0800 GMT).

DEBT

Treasury sells 0.750-1.250 billion euro CCTeu bonds due Sept. 15, 2025; 1.5-2.0 billion euros 2.45 percent BTP bonds due Oct. 1, 2023; 1.5-2.0 billion euros 2.80 percent BTP bonds due Dec. 1, 2028. Subscriptions close at 0900 GMT.

(*) BANCA CARIGE

The European Central Bank is putting pressure on the lender to boost its capital and has alerted the Bank of Italy and market regulator Consob in that regard, Il Sole 24 Ore said, adding that a capital increase might need to be launched already between October and November. The bank told the paper it had not been informed of the matter and that it considered the idea “groundless”.

(*) BPER BANCA

The lender is expected to present the outlines of its business plan to 2021 along with its third-quarter results on Nov. 8, Il Sole 24 Ore said. It is also looking into a possible tie-up with Unipol Banca, the paper added. Among other extraordinary measures that the new strategy may include is the acquisition of a 49 percent stake Banco di Sardegna which are currently in the hands of a banking foundation of the same name.

As part of the new business plan, the lender plans to sell 1.9 billion euros worth of non-performing loans, MF added.

(*) MEDIOBANCA

Meeting of shareholder pact.

The investment bank said Bollore Group, which owns 7.9 percent of its shares, has decided to withdraw from a shareholder pact linking key investors in the company as of Jan. 1 to be able to use its assets more flexibly. The investor will keep its holding and supports the company’s strategy and management, Mediobanca added.

(*) TELECOM ITALIA, VODAFONE ITALIA, FASTWEB, WIND TRE

BT Group is set to launch the sale of its assets in Italy in the coming weeks and advisor Credit Suisse has made initial contacts with the country’s telecoms operators, Il Sole 24 Ore said.

TELECOM ITALIA

At the end of the tenth day of bidding for 5G spectrum total bids had reached 5.5 billion euros.

(*) IREN

New industrial plan presentation (0900 GMT).

The company said it sees net profit rising to around 300 million euros in 2023, up from 238 million euros last year, as part of its five year business plan announced on Thursday.

SAFILO

Safilo launches a share capital increase up to a maximum of 150 million euros.

AEDES

Extraordinary shareholders’ meeting (0830 GMT).

ASSITECA

Board meeting on FY results.

AUTOGRILL

Board meeting on revenues up to Aug. 31.

Board meetings on H1 results: BASTOGI, CALEIDO GROUP, CASTA DIVA GROUP, CELLULARLINE , CLASS EDITORI (1330 GMT), COMPAGNIA IMMOBILIARE AZIONARIA, FERVI, FINLOGIC , FINTEL ENERGIA GROUP, FIRST CAPITAL , FNM, GRIFAL, ICF GROUP , INDEL B (revenues on sales results on Aug. 3) followed by conference call, INTRED, KOLINPHARMA , K.R.ENERGY, MAILUP, MEDIACONTECH , NETWEEK, SCIUKER FRAMES, SG COMPANY , STEFANEL, TITANMET, TREVI GROUP , VETRYA, ZEPHYRO, ZUCCHI.

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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