September 5, 2019 / 6:07 AM / 11 days ago

Italy - Factors to watch on Sept. 5

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

Italian Prime Minister Giuseppe Conte unveiled his new cabinet on Wednesday, uniting two rival political parties in an unlikely coalition that is expected to improve ties with the European Union and adopt a softer stance on immigration. The team of ministers will be sworn into office on Thursday morning by President Sergio Mattarella.

Roberto Gualtieri, an influential member of the European Parliament from the Democratic Party (PD), will be economy minister in Italy’s new government, Conte said.

ECONOMY

Italy’s newly formed government could pave the way for important policy shifts easing the pressure on the country’s downgrade-threatened credit rating, agency S&P Global said on Wednesday.

MEDIASET, MEDIASET ESPANA, VIVENDI

Shareholders in the Italian broadcaster on Wednesday backed a plan to create a pan-European media group under a new Dutch holding, fending off opposition from its second biggest shareholder Vivendi. Mediaset’s board approved the purchase of up to 50 million euros of its Spanish listed subsidiary, the Milan-based group said on Wednesday.

EXOR

At end-June Exor’s net asset value stood at $23.88 billion compared to $19.74 billion at end-2018, the Agnelli family’s holding company said in a statement on Wednesday.

JUVENTUS

The Turin-based soccer club reported a net loss of around 40 billion euros in 2018/2019 fiscal year, according to a calculation made by daily Il Sole 24 Ore and based on parent company Exor’s results released on Wednesday. That compares with a net loss of 19.2 million euros in 2017/2019.

A2A, IREN

A consortium between Italy’s biggest regional utility A2A and Czech energy group EPH has been shortlisted for the acquisition of some assets of the Italian energy company Sorgenia, MF daily reported on Thursday. Potential buyers include Italian utility Iren and British wholesale power generation firm Contourglobal.

ATLANTIA, ALITALIA (unlisted)

State railways Ferrovie will ask for a seven-day extension of a deadline, currently set on Sept. 15, to officially present a rescue offer for the ailing airline with infrastructure group Atlantia and U.S. carrier Delta, daily Il Messaggero said. Ferrovie and Atlantia are close to an agreement with Delta on how the two carriers would share routes from Italy to the U.S., the report added.

(*) ASTM, SIAS

The combined entity of the two toll motorway operators will distribute a dividend worth 60% of its net results, according to the slides published on Astm’s website on Thursday.

(*) CNH INDUSTRIAL

Fitch does not see any immediate rating impact from the decision of the industrial vehicle maker to split in two and list its truck, bus and engine division, the rating agency said on Thursday.

FTSE ITALIA INDEXES

GUALA CLOSURES and OVS will replace CAIRO COMMUNICATION and BIESSE in Italy’s FTSE Italia Mid Cap index as of Sept. 23, FTSE Russell said on Wednesday, adding there are no changes in the Italian blue-chip FTSE Mib index.

DIARY

Milan, Milan Stock Exchange ends ‘Italian Equity Week’ “Infrastructure Day” (0700 GMT). Expected attendees include A2A CEO Valerio Camerano, Enel CFO Alberto De Paoli, Italgas CEO Paolo Gallo, Salini Impregilo Corporate and Finance Group Managing Director Massimo Ferrari, Snam CEO Marco Alvera, Open Fiber CEO Elisabetta Ripa.

Milan, the National Chamber for Italian Fashion holds news conference to present “Milano Moda Donna” which will held on Sept. 17-23 (0900 GMT).

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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