Italy - Factors to watch on May 13
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
Italy's government late on Friday presented to parliament an amendment to spread out the impact of costly incentives for home renovations, the so-called Superbonus, over 10 years. The provision applies to work made since early January.
U.N.-backed human rights experts called on Italy to combat racial profiling in law enforcement on Friday after collecting evidence of discrimination by officers.
DEBT
(*) Italian small savers gave a cooler response than before to the new retail bond offered by the Treasury last week, raising some doubts about their future role in Rome's strategy to manage its huge pile of debt.
ECONOMY
OECD releases April composite leading indicator data (1000 GMT).
COMPANIES
BANKS
Lenders which have purchased tax credits stemming from Italy's Superbonus home renovation incentive scheme will have to use them to cut their tax bills over six years from 2025 onwards, according to an amendment the government presented late on Friday. The measure does not apply to banks that have purchased credits at 75% of their face value or more. Based on the amendment, starting from next January banks, insurances and financial service companies will no longer be allowed to use tax credits to offset payments of social security contributions.
(*) The Italian Banking Association (ABI) is due to meet on Monday to discuss alternative solutions to the government's amendment, a source close to the matter told Reuters on Monday.
(*) The banks have around 35 billion euro credits affected by the government's measure, Il Messaggero reported on Monday.
UNICREDIT CRDI.MI
The bank is in a position to return to its shareholders more than half of its current market capitalisation -- amounting to almost 61 billion euros -- over the next three years, thanks to excess capital and future profits, CEO Andrea Orcel told Milano Finanza in an interview published on Saturday.
DIASORIN DIAS.MI
The Italian diagnostic company announced on Friday the restarting of the buyback program already disclosed to the market on May 8, 2023 and effective from Monday, in order to fulfil the obligations deriving from the stock incentive program.
CEO Carlo Rosa said in a post-results call on Friday the company had a very good performance in China in the first quarter of the year and it was back to regular business after COVID.
(*) JUVENTUS JUVE.MI
Juve were on their way to a humiliating Serie A loss at home on Sunday when Adrien Rabiot equalised in stoppage time for a 1-1 draw.
Following Sunday's result, Juventus said they had mathematically secured their spot in next year's Champions League.
(*) LAZIO LAZI.MI
Lazio beat Empoli 2-0 at home on Sunday.
DIARY
Economy Minister Giancarlo Giorgetti attends Eurogroup meeting in Brussels.
Rome, Industry Minister Adolfo Urso joins talks at foreign ministry on impact of Red Sea tensions on Italian economy (0900 GMT).
Industry Minister Adolfo Urso meets local businesses in Civitavecchia (1300 GMT) and Civita Castellana (1500 GMT).
Rome, Think7 starts Italy summit "The G7 and the world: rebuilding bridges" (1230 GMT); ends on May 14. On Monday expected attendees include state-backed lender Cassa Depositi e Prestiti (CDP) CEO Dario Scannapieco (1300 GMT).
Rome, Cassa Depositi e Prestiti (CDP) holds annual general meeting; second call scheduled on May 24.
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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