September 7, 2018 / 4:00 AM / 2 months ago

Italy - Factors to watch on Sept. 7

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

ISTAT releases July retail sales (0800 GMT) and monthly bulletin on the state of the economy in Augusty (0900 GMT).

DEBT

Italy’s Treasury conducts a debt buyback.

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on Sept. 12.

INSURERS

Fitch Ratings on Thursday revised its outlook on nine insurance groups to ‘negative’ from ‘stable’ following a similar move on Italy’s sovereign rating.

ASSICURAZIONI GENERALI

The insurer said on Thursday it had entered exclusive talks to buy a majority stake in French asset manager Sycomore and develop a partnership in line with its multi-boutique strategy in asset management.

Fitch said Generali’s ratings would likely be downgraded if it cut Italy’s sovereign rating or if the insurer’s exposure to Italian bonds increased materially. However, a one-notch sovereign downgrade may not directly affect Generali’s subordinated debt ratings.

(*) TELECOM ITALIA

The group started the process to sell its unit Sparkle on Monday and is waiting for banks’ expression of interests on Friday, daily Il Corriere said. The group will hold a board meeting on Sept. 10, to discuss tender for 5G, and one on Sept. 24. At Sept. 24 there could be a showdown on the group’s CEO, the daily said.

(*) ATLANTIA

The CEO of Autostrade per l’Italia and Atlantia told Italian daily La Stampa on Friday that he felt responsible, but not guilty, for the deadly collapse of a motorway bridge operated by Autostrade.

(*) ATLANTIA, TELECOM ITALIA, MEDIASET , CAIRO COMMUNICATIONS

Italy will review concessions on the management of water, television and telecom, besides that for Autostrade per l’Italia to manage part of its motorways, the deputy prime minister told the newspaper Il Corriere.

(*) BANCA CARIGE

Bank’s investor Raffaele Mincione told daily Il Messaggero that the lender needed to boost its capital base before a tie-up, adding the issuance of a subordinated bond worth more than 150 million euros and assets disposals could solve the problem.

(*) ANSALDO STS

Greece’s state-owned subway operator, Attiko Metro, has short-listed three interested groups of contractors in a tender for a 1.5 billion euro expansion project, it said late Thursday.

The bidders are Greek contractor GEK Terna HRMr.AT with France’s Vinci and Siemens; J&P Avax with Italy’s Ghella and France’s Alstom Transport ; and Greek construction firm Aktor with Ansaldo and Hitachi Rail Italy.

BANCA MONTE DEI PASCHI DI SIENA

The bailed-out bank has started the sale of around 2.5 billion euros in unsecured bad loans, a source familiar with the matter said on Thursday.

FCA

Ordinary shareholders’ meeting.

EXOR

The holding company of Italy’s Agnelli family said on Thursday its net asset value stood at $24 billion at the end of June up from $23 bln euros six months earlier.

BANKS

Bank of Italy releases August data on Target 2 liabilities and European Central Bank funding to Italian banks.

FERRARI NV

Ordinary shareholders’ meeting.

CALEFFI

Conference call on H1 results.

CAREL

Ordinary shareholders’ meeting (0730 GMT).

Board meetings on H1 results: CAD IT, CAREL followed by conference call, EUROTECH, NETWEEK.

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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