January 30, 2020 / 5:04 AM / 4 months ago

Italy - Factors to watch on Jan. 30

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 ruling 5-Star Movement faces desertions and ruinous splits which may be impossible to stem at a March congress, party officials are warning.

ECONOMY

Restructuring small banks which, despite their size, often play a fundamental role in their local areas is vital for the Italian economy, a senior central bank official said on Wednesday.

ISTAT releases December unemployment data (0900 GMT).

Assogestioni releases December fund flows data.

DEBT

Treasury sells 2.25-2.75 billion euros 0.35% BTP bonds due Feb. 1, 2025; 2.75-3.25 billion euros 1,35% BTP bonds due April 1, 2030; 2.25-2.75 billion euros new CCTeu bonds due Dec. 15, 2023. Subscriptions close at 1000 GMT.

ATLANTIA

The Italian infrastructure group must do more than offered so far to keep its valuable motorway licence after the 2018 Genoa bridge disaster and faces heavy compensation payouts, a government source said on Wednesday. (*) A decision on whether or not Atlantia will lose the motorway licence that accounts for a third of its core profits is likely in the next few days, Transport Minister Paola De Micheli said on Thursday.

BANCO BPM

Chief Executive Giuseppe Castagna said on Wednesday that the Italian bank had already “played its part” in M&A and that its new business plan would be a stand-alone one.

Castagna added that his bank would rather buy an insurance or an asset manager “if it had the money”, as putting two lenders together was difficult in the current environment.

MEDIOBANCA

Businessman Leonardo Del Vecchio met Mediobanca CEO Alberto Nagel in a formal meeting on the bank’s business plan and has also met with Mediolanum top managers Ennio and Massimo Doris when it is likely he told them he was planning to raise his stake in the bank, Il Sole 24 Ore said. Del Vecchio also met Generali CEO Donnet to reassure management at the insurer of his iuntentions, the paper said.

TELECOM ITALIA

Ardian is especially interested in the planned merger of Inwit with the Italian telecom towers of Vodafone and is prepared to offer a good valuation, Il Sole 24 Ore said.

BANCA MONTE DEI PASCHI DI SIENA

Blackstone and a team of Hines and Ardian are the bidders left in the race for a real estate portfolio of around 30 properties being sold by the bank. Blackstone is interested in the whole portfolio while Hines/Ardian is eying just one, it said.

UBI BANCA

Bids have come in for UBI real estate assets worth more than 300 million euros, Il Sole 24 Ore said. Among the bidders are Coima, Ardian, Blackstone, and JP Morgan.

BANKS

Stripping government bonds of their risk-free status when they exceed certain thresholds on banks’ balance sheets should not be “a taboo” because the Greek crisis has shown government debt carries risks, Alberto Nagel, the chief executive of investment bank Mediobanca, said on Wednesday.

Second-tier banks in Italy, Spain and possibly Germany are likely to consider mergers this year in a bid to boost returns which are insufficient to cover their cost of equity, Nagel said.

ENI

A witness in a graft case involving oil contracts in Nigeria refused to confirm a key statement during a court hearing on Wednesday, offering a possible boost to Italian oil major Eni, which is fighting allegations of bribery.

LEONARDO

Japan’s Suzuyo bought a full flight simulator for the AW139 helicopter, to be built by the Italian defense group and Canada’s Cae, Leonardo said on Wednesday.

Leonardo obtained a loan of up to 100 million euros from state lender CDP to fund investment in research, development and innovation, it said on Wednesday.

(*) IREN

The multiutility said it will acquire an 80% stake in plastics group I.Blu for about 16 million euros.

SAFILO

The eyewear maker said on Wednesday its net sales fell by a preliminary 4.3% year on year at constant exchange rates in the fourth-quarter. Safilo confirmed its target for a 2019 adjusted EBITDA margin of continuing operations at 5.5%.

ITALIA INDEPENDENT

Milan stock exchange said it banned orders without a price limit on the ordinary shares of luxury eyewear group, starting from Thursday trading session until further notice.

TOD’S

Board meeting on preliminary FY results (sales).

DIARY

Rome, “Alleanza Cooperative Italiane” holds annual meeting with trade union general secretaries Maurizio Landini for CGIL, Annamaria Furlan for CISL, Carmelo Barbagallo for UIL, Infrastructure and Transport Minister Paola De Micheli, Industry Deputy Minister Stefano Buffagni (0930 GMT).

Rome, Eurispes holds news conference to present 32nd report “Italy in 2020” (1000 GMT).

Rome, Industry Minister Stefano Patuanelli speaks before COPASIR, the Parliamentary Committee for State Security (1130 GMT).

Rome, Foreign Affairs Minister Luigi Di Maio speaks before Senate and Chamber of Deputies Foreign Affairs and Defence committees on the outcomes of the Berlin conference (1200 GMT).

Rome, Economy Minister Roberto Gualtieri speaks before the Supervisory Parliamentary Committee on tax registry (1300 GMT).

Rome, European Commission Deputy Chairman Valdis Dombrovskis meets Senate Speaker Maria Elisabetta Alberti Casellati (1315 GMT); speaks before Chamber of Deputies and Senate Budget, Finance, EU Policies committees (1330 GMT).

Rome, Foreign Affairs Deputy Minister Marina Sereni delivers closing address at a conference by ISPI (1600 GMT).

Rome, Prime Minister Giuseppe Conte meets Justice Minister Alfonso Bonafede, Culture Minister Dario Franceschini, Agriculture Minister Teresa Bellanova on government’s agenda (1730 GMT).

Milan, J.P. Morgan Asset Management holds “Fixed Income Day” (0930 GMT).

Milan, European Investment Bank (EIB) Vice President Dario Scannapieco holds news conference on “The EIB Group in Italy in 2019: results and prospects” (1030 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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