Italy - Factors to watch on September 16
The following factors could affect Italian markets on Monday.
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 IT/DIA.
POLITICS
An Italian prosecutor on Saturday asked a judge to sentence right-wing League leader Matteo Salvini to six years in prison over his decision in 2019 to prevent more than 100 migrants from landing in Italy.
The foreign ministers of the Group of the Seven (G7) industrialised powers on Saturdaycondemned "in the strongest terms" Iran's export and Russia's procurement of Iranian ballistic missiles.Italy this year holds the rotating presidency of the G7.
ECONOMY
An Italian appeals court overturned a 2021 ruling convicting 37 people and three firms for deadly pollution linked to the former Ilva steelworks on Friday and ordered a retrial, ANSA news agency said.
Nippon Steel may be interested in buying Ilva, daily Il Sole 24 Ore reported on Saturday. Representatives of Italy's government and Japan's embassy discussed the potential offer last week, on the sidelines of the Ambrosetti Forum in Cernobbio, the newspaper said.
ISTAT releases August CPI final data (0800 GMT) and July foreign trade data (0900 GMT).
Bank of Italy releases July data on public finances, state borrowing and debt.
BANKING SECTOR
Antonio Tajani, leader of the co-ruling Forza Italia party, said on Saturday his party was opposed to the introduction of a new tax on banks' profits and denied that Economy Minister Giancarlo Giorgetti had spoken to his government allies about such a measure.
According to Saturday's la Repubblica, Giorgetti told an Ecofin meeting in Budapest on Friday he was open to discussing his Croatian counterpart's proposal about taxing banks' windfall profits. The paper said the discussion among finance ministers on the subject will be tabled at the November Ecofin meeting.
COMPANIES
(*) UNICREDIT CRDI.MI
A merger of UniCredit and Commerzbank could add value for all stakeholders and create a stronger bank, UniCredit CEO Andrea Orcel told a German newspaper on Monday, adding a decision was in the hands of Commerzbank stakeholders.
The lender will start on Monday its 1.7 billion euro buy-back programme, which will end by November. The bank had received ECB approval to the buy-back tranche on Friday.
(*) INTERMONTE INTM.MI, BANCA GENERALI BGN.MI
Banca Generali said on Monday it was launching a 98 million euro ($109 mln) takeover bid on Intermonte, offering 3.04 euros a share to buy out other investors in the Milanese investment firm and take it private.
ENI ENI.MI
The Italian energy group is in talks with several funds over the potential sale of a minority stake in its renewable and retail business Plenitude, two sources with knowledge of the matter said on Friday.
SAIPEM SPMI.MI
The Italian energy engineering group said on Sunday it had won an offshore contract worth $4 billion from QatarEnergy, one of the world's top suppliers of liquefied natural gas (LNG).
STELLANTIS STLAM.MI
Europe's second biggest carmaker is pushing back against any move by the European Union to delay emissions targets set to take effect next year, setting up a potential clash with other manufacturers in the region, the AFP news agency reported on Sunday.
"It would be surreal to change the rules now," the group's Chief Executive Officer Carlos Tavares was reported as saying.
(*) TELECOM ITALIA TLIT.MI
First-half results reached the expected levels and allowed the company to return to being competitive, reinforcing confidence in achieving its business plan targets for this year and the following ones, CEO Pietro Labriola wrote in an article in la Repubblica's weekly supplement Affari&Finanza on Moday.
UNIEURO UNIR.MI
The Italian government is concerned about some aspects of French retailer Fnac Darty's FNAC.PA bid for the Italian consumer electronics retail group, and may seek reassurances under its so-called Golden Powers to intervene in strategic sectors, La Stampa and other newspapers reported on Sunday.
(*) The government is not considering the use of its so-called golden powers aimed at shielding strategic assets for the deal, Corriere della Sera reported on Sunday, citing a spokesperson for the Italian Industry Ministry.
(*) GENERALI GASI.MI
Jefferies increased its rating on the insurer to 'Buy' from 'Hold' and raised the target price to 28.5 euros from 22 euros.
CAMPARI CPRI.MI
Shares in the Italian spirits group fell more than 6% on Friday with traders citing comments by the company's chief executive at a conference about a "very soft" environment for the industry in the current quarter.
(*) The company made no specific reference to its performance in an investor call held on Friday, it said in a statement on Friday, adding its comments related to the general trend in the industry which was publicly available from third parties.
BREMBO BRBI.MI, MFE MEDIAFOREUROPE MFEA.MIMFEB.MI
Euronext, the owner of Milan Bourse, said on Friday that after its quarterly review it included MFE-MediaForEurope shares MFEA.MI MFEB.MI in its MIB ESG index while excluding those of Brembo BRBI.MI.
The decision will be implemented after markets close on Friday 20 September 2024, and will be effective from Monday 23 September 2024, it added.
(*) JUVENTUS JUVE.MI
Juventus coach Thiago Motta was not happy with his side's attacking efforts in Saturday's 0-0 Serie A draw versus Empoli, who defended valiantly to keep their goal intact.
Former Italy and Juventus defender Giorgio Chiellini has returned to the Italian club in an executive role focusing on relations with national and international football institutions, the Serie A side said on Sunday.
DIARY
Rome, cabinet meeting (1845 CET)
Rome, G7-IEA Conference on Ensuring an Orderly Energy Transition at the Bank of Italy (Palazzo Koch) from 0830-1700 CET. Among speakers: Bank of Italy Governor Fabio Panetta; Italian Economy Minister Giancarlo Giorgetti; Mary Burce Warlick, Deputy Executive Director of the International Energy Agency; Irene Heemskerk, Head, Climate Change Centre, European Central Bank; Mark Carney, Co-Chair for GFANZ and UN Special Envoy on Climate Action and Finance; Lapo Pistelli, Director, Public Affairs, ENI; Riccardo Barbieri Hermitte, Director General, Department of the Treasury, Ministry of Economy and Finance, Italy; Luigi Federico Signorini, Senior Deputy Governor, Banca d’Italia. https://www.bancaditalia.it/media/notizia/g7-iea-conference-on-ensuring-an-orderly-energy-transition/?dotcache=refresh
For Italian market data and news, click on codes in
brackets:
20 biggest gainers (in percentage).............PG.MI
20 biggest losers (in percentage)..............PL.MI
FTSE IT allshare index .FTITLMS
FTSE Mib index........ .FTMIB
FTSE Allstars index... .FTSTAR
FTSE Mid Cap index.... .FTITMC
Block trades.......... .BLK.MI
Stories on Italy...... IT-LEN
For pan-European market data and news, click on codes in
brackets:
European Equities speed guide...................EUR/EQUITY
FTSEurofirst 300 index...............................FTEU3
DJ STOXX index.......................................STOXX
Top 10 STOXX sectors............................PGL.STOXXS
Top 10 EUROSTOXX sectors.......................PGL.STOXXES
Top 10 Eurofirst 300 sectors....................PGL.FTEU3S
Top 25 European pct gainers........................PG.PEUR
Top 25 European pct losers.........................PL.PEUR
Main stock markets:
Dow Jones................DJI Wall Street report ......N
Nikkei 225..............N225 Tokyo report.............T
FTSE 100................FTSE London report............L
Xetra DAX..............GDAXI Frankfurt market stories.F
CAC-40..................FCHI Paris market stories....PA
World Indices.....................................0#.INDEX
Reuters survey of world bourse outlook.........EQUITYPOLL1
Western European IPO diary..........................WEUIPO
European Asset Allocation........................EUR/ASSET
Reuters News at a Glance: Equities...............TOP/EQE
Main currency report:...............................FRX/
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