Italy - Factors to watch on Dec. 4
The following factors could affect Italian markets on Wednesday.
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
Italy is set to approve a new military aid package for Ukraine this month, two sources close to the matter said on Tuesday, in a renewed show of support for Kyiv from Prime Minister Giorgia Meloni's rightist government.
Defence Minister Guido Crosetto told daily Corriere della Sera on Wednesday the government will draft a new decree allowing it to keep assisting Ukraine from January next year.
ECONOMY
October services PMI HCOB data (0845 GMT).
The European Union needs to set up a common spending programme to fund strategic investments that are indispensable to boost productivity and keep pace with the United States, European Central Bank policymaker Fabio Panetta said on Tuesday.
COMPANIES
STELLANTIS STLAM.MI
Stellantis' Chairman John Elkann plans to name Luca Maestri, the outgoing CFO of Apple, as the new CEO of the Italian-French carmaker after Sunday's shock resignation of Carlos Tavares, newspaper Corriere della Sera reported on Wednesday.
(*) Stellantis denied the report.
Industry Minister Adolfo Urso told daily Corriere della Sera on Wednesday that it was too late for the government to take a stake in Stellantis.
The automaker said on Tuesday press reports on the size of the severance package for Tavares were "highly inaccurate and far beyond reality" but did not immediately give details about the settlement.
It said the company was required to disclose the remuneration of its directors in its annual remuneration report.
MEDIAFOREUROPE MFED.MI, UNICREDIT CRDI.MI
The Italian TV group has asked UniCredit CRDI.MI to arrange a loan worth 3.4 billion euros ($3.6 billion) with a group of banks to finance a bid for German rival ProSiebensat1 in 2025, Il Messaggero daily reported on Wednesday.
UNICREDIT CRDI.MI, BANCO BPM BAMI.MI
Andrea Orcel, the CEO of Italy's second largest bank, plans to meet Philippe Brassac, the head of takeover target Banco BPM's main shareholder Credit Agricole CAGR.PA, on Dec. 20 or at the latest by Christmas, daily MF reported on Wednesday.
BPER BANCA EMI.MI
The European Central Bank set at 8.93% the Italian bank's minimum capital requirement in terms of common equity TIER 1 ratio, Bper said on Wednesday.
CAMPARI CPRI.MI
The Italian spirit maker said on Wednesday it had nominated Simon Hunt as its new CEO.
Deutsche Bank on Wednesday cut its rating for Campari to 'hold' from 'buy' and cut its target price to 5.7 euros from 8.5.
INTESA SANPAOLO ISP.MI
Goldman Sachs GS.N held a 1.33% stake in the Italy's largest bank as of Nov. 27, according to a filing on Tuesday.
ENEL ENEI.MI
Five Italian consumer associations have filed a class action lawsuit against Enel alleging that the country's biggest utility had not properly informed clients about significant gas and electricity price increases.
(*) The head of Enel's 'Rest of the World' division and former CFO Alberto De Paoli is set to step down in the near future, MF reported on Wednesday.
DIARY
Rome, Prime Minister Giorgia Meloni meets Hungarian counterpart Viktor Orban (1415 GMT).
Rome, Chamber of Deputies holds 'question time' session with Industry Minister Adolfo Urso (1400 GMT).
Rome, Leonardo LDOF.MI representatives speak before Senate Foreign Affairs and Defence committees on 'Global Combat Air Programme' (0730 GMT).
Rome, conference on "The Notariat's contribution to innovation" with Cabinet Undersecretary Alessio Butti, EU Commission Vice President Raffaele Fitto (0830 GMT).
Milan, Blackstone BX.N holds round-table discussion to present initiative on private wealth solutions (0830 GMT).
Cuneo, Edison EDNn.MI CEO Nicola Monti attends inauguration ceremony of Edison Next plant at Michelin MICP.PA Italian unit's factory (0830 GMT).
FTSE Russell releases revision of FTSE MIB basket and other indexes to be effective on Dec. 23.
Stellantis STLAM.MI CFO Doug Ostermann participates in online session at "Goldman Sachs 16th Annual Industrials & Autos Week" (1320 GMT).
Milan, ECB board member Piero Cipollone attends 7th conference on behavioural financial regulations and policies organised by Herbert Simon Society online and participates in Q&A session (0900 GMT).
Milan, Snam SRG.MI CEO Stefano Venier delivers opening address at event "Drawing the future" (1630 GMT).
Milan, Milan Stock Exchange President Claudia Parzani attends "CEO SUMMIT & Awards 2024, Six memos for the next millennium" (1330 GMT).
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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