September 4, 2018 / 4:00 AM / 18 days ago

Italy - Factors to watch on Sept. 4

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

Party leaders in the Italian coalition government signalled they will seek leeway from the EU to increase next year’s budget deficit, heading on a collision course with the European Commission and investors who want it cut.

Italian Economy Minister Giovanni Tria is pushing the parties in the governing coalition to keep next year’s budget deficit below 2 percent of output, sources close to the dossier said on Monday, lower than the party leaders have indicated so far.

Italy posted a state sector budget surplus of 1.3 billion euros ($1.5 billion) in August, compared to a 1.1 billon euro deficit in the same month last year, the Treasury said on Monday.

FIAT CHRYSLER

Italian industry-wide car sales rose 9.46 percent in August, the transport ministry said on Monday.

(*) UNICREDIT

Sebastien Proto, who on Sept. 3 took over as head of strategy at Societe Generale, could help the French bank negotiate a potential merger with UniCredit, La Stampa reported.

Corriere della Sera reported comments by UniCredit CEO Jean Pierre Mustier to Bloomberg News according to which the bank is concentrating on organic growth.

BANKS

European banks undergoing stress tests this year must submit simulations run on their balance sheets by Sept. 5, Il Sole 24 Ore reported, adding the mood over the check-up among Italian lenders was “relatively positive.”

INTESA SANPAOLO

Regulatory filings on Monday showed BlackRock held a 5.0 percent stake in the Italian bank as of Aug. 30 under its non-discretionary asset management business. JPMorgan indirectly owned a 2.9 percent stake as of Aug. 29.

TELECOM ITALIA

The phone group said on Tuesday Anna Spinelli had joined the company as chief procurement and real estate officer.

BANCA CARIGE

State-backed shareholder SGA said on Monday it had sold shares in the lender equivalent to a 0.407 percent stake, reducing its holding to 4.99 percent.

Silvio de Fecondo, a representative of small investors in the bank running for a board seat as part of a list backed by shareholders Raffaele Mincione, Gabriele Volpi and Aldo Spinelli, will explain on Wednesday his reasons for joining that list, Corriere della Sera reported.

(*) FINCANTIERI

The Italian shipbuilder will submit in the coming weeks its final bid as it seeks to win a 1.6 billion euro contract with the Romanian navy, Il Sole 24 Ore reported.

SPAXS

The company said on Tuesday it would offer its shareholders shares equivalent to 8.5 percent of its capital, which resulted from the exercise of withdrawal rights in light of its business combination with small Italian bank Banca Interprovinciale.

ASTALDI

S&P’s has cut its rating on the Italian builder’s debt to ‘CCC-‘ from ‘CCC’ with a developing outlook due to Turkey’s worsening economic situation. The agency said Astaldi may have trouble selling its stake in the Third Bosphorus Bridge, a condition to successfully complete its planned capital increase.

ENI

Eni’s operations in Libya, plagued by violent clashes between rival groups, are running as normal, a spokesman for the Italian oil group said on Monday.

PININFARINA

“Investor Day” (0900 GMT).

AEROPORTO DI BOLOGNA

The company reported a first-half net profit of 7.3 million euros versus 6.9 million a year ago.

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:...............................

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below