Italy - Factors to watch on Nov. 11
Corrects number in paragraph 6 to million from billion
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.
COMPANIES
ENEL ENEI.MI
Brazil's solicitor general's office said on Friday that it is suing the Italian energy group for 260 million reais ($45.12 million) in collective restitution due to damages caused by last month's power outage in Sao Paulo, Latin America's largest city.
ENI ENI.MI
The energy giant is ready to sell up to 49% of its Carbon capture and storage (CCS) business, although the exact stake will be decided in the coming weeks, Il Sole 24 Ore reported on Saturday, adding that funds Macquarie and KKR KKR.N would be interested, as well as Italy's Snam and commodity trader Vitol.
(*) Swiss asset manager Energy Infrastructure Partners (EIP) has signed an agreement to increase its stake in Eni's retail and renewable unit Plenitude to 10% through a capital increase of around 209 million euros, Eni said on Monday.
STELLANTIS STLAM.MI
Stellantis and its Chinese partner Leapmotor 9863.HK have scrapped a plan to make a second electric vehicle model at the European automaker's plant in Poland, two people with knowledge of the matter told Reuters.
Stellantis added to its rising tally of layoffs on Friday, saying 400 workers at a Detroit automotive parts facility would indefinitely lose their jobs as the carmaker reduces costs in its struggling North American business.
UNICREDIT CRDI.MI
The European Central Bank is pushing Raiffeisen and UniCredit hold some capital as a buffer against potential risks stemming from their Russia businesses, two sources with knowledge of the matter said.
MONTE DEI PASCHI BMPS.MI
Given "favourable" conditions for the government to sell an additional stake in the bank the government is studying alternatives to an accelerated book building (ABB), la Repubblica reported on Saturday. The Treasury is looking for a core group of private Italian investors willing to form a group of stable long-term investors for a bank that will have the format of a public company, the report adds.
(*) ANIMA ANIM.MI
HSBC on Monday raised its rating on the group to 'Hold' from 'Buy' and raised its target price to 6.20 euros per share from 5.80 euros per share.
ANIMA, BANCO BPM BAMI.MI
Italian asset manager Anima said on Friday it had appointed Goldman Sachs as financial adviser to assess an up to 1.6-billion-euro ($1.71 billion) buyout proposal from Banco BPM.
BANCA MEDIOLANUM BMED.MI
Massimo Doris, the bank's CEO, told Il Corriere della Sera on Sunday that a member of the Berlusconi family would join the bank's board to represent shareholder Fininvest. He also said he was open to signing a new shareholders' agreement with the Berlusconi holding company if the conditions were right.
LEONARDO LDOF.MI
UK ministers gave the go-ahead for the Global Combat Air Programme (GCAP) with Italy and Japan at a meeting on Tuesday, ending fears that the flagship project could fall victim to the new Labour government's strategic defence review, The Financial Times reported on Friday citing several people familiar with the decision. A formal announcement for the multi-billion pound fighter jet programme, on which Leonardo, Britain's BAE Systems BAES.L and Rolls-Royce RR.L and Japan's Mitsubishi Heavy Industries 7011.T will work, is expected in the coming weeks, the report added.
RECORDATI RECI.MI
The Italian drug maker is not concerned about potential new U.S. tariffs under president-elect Donald Trump as it expects them to have no impact on its rare diseases business, the company's CFO told Reuters on Friday.
(*) DIASORIN DIAS.MI
"The United States, after the election of Donald Trump, will still be the best market to be in. A market that recognizes research and technology, that pays for innovation and where to invest," CEO Carlo Rosa was quoted as saying by Corriere della Sera's weekly publication L'Economia on Monday.
UNIEURO UNIR.MI
At the end of the re-opening of the voluntary public tender and exchange offer on Unieuro ordinary shares Fnac Darty FNAC.PA and RUBY Equity Investment Sarl held 91.1% of the Italian group, a statement said on Friday, adding that Unieuro will now be delisted from the Milan bourse.
(*) OVS OVS.MI
After focusing its international strategy on small stores, mainly dedicated to the children's sector, the group will now go abroad with larger stores, CEO Stefano Beraldo was quoted as saying by la Repubblica's Affari&Finanza on Monday, adding that the group is discussing a major partnership in Japan with a local retailer and is looking at India for further expansion.
WEBUILD WBD.MI
The Terra Verde joint venture, in which the construction group has a 33.5% stake, signed a 1 billion euro ($1.07 billion) contract for a rail project in Melbourne, Australia. The joint venture had been named preferred bidder in July.
(*) TENARIS TENR.MI
The steel pipe maker starts on Monday a $700-million share buyback, expected to end no later than March 26, 2025.
JUVENTUS FC JUVE.MI
Goals from Timothy Weah and Kenan Yildiz saw Juventus maintain their impressive run against neighbours Torino with a 2-0 home win on Saturday, extending their unbeaten streak in the Turin Derby and moving them up to third in the Serie A standings.
SS LAZIO LAZI.MI
Lazio beat Monza 1-0 on Sunday and climbed up to 25 points with Atalanta, Fiorentina and Inter.
M&A
Private equity group CVC Capital Partners is on the hunt for a buyer for its majority stake in Italian pharmaceutical outsourcer Genetic Group, in a deal that they hope will value the business at about 700 million euros, the Ft reported on Saturday, citing people familiar with the matter.
A2A A2.MI
Board meeting on Q3 results.
DOVALUE DOVA.MI
Board meeting on Q3 results.
4AIM SICAF 4AIM.MI
Ends capital increase.
DIARY
President Sergio Mattarella state visit to China continues; ends on Nov. 12.
Rome, Prime Minister Giorgia Meloni meets representatives from trade unions on budget law (0800 GMT).
Rome, Economy Minister Giancarlo Giorgetti attends "The world is in Lombardy; towards 2025 world summit" via videoconference (1530 GMT).
Milan, Economy Undersecretary Federico Freni delivers closing address at opening conference at 'Finance Community Week' on "Finance and geopolitics".
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/
($1 = 0.9330 euros)
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
