Italy - Factors to watch on Nov. 20
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.
ECONOMY
Italian ruling-coalition lawmakers are urging the government to scale back plans to increase taxes on cryptocurrency capital gains and expand the number of firms forced to pay a digital tax, a parliamentary document showed on Tuesday.
COMPANIES
STELLANTIS STLAM.MI
The Franco-Italian automaker said on Tuesday it will deploy a new vehicle system that will support assembly of gasoline, hybrid and electric models, but in a sign of how turbulent the electric-vehicle transition is, the automaker also delayed production of Ram electric pickup trucks.
(*) STMICROELECTRONICS STMM.MI STMPA.PA
The Europe's largest semiconductor manufacturer by sales on Wednesday reiterated its forecast for revenue of $20 billion by 2030, with an operating margin of above 30%.
It also gave a mid-term plan for 2027-2028, targeting revenue of $18 billion and operating margin of 22% to 24%, supported by to its cost saving plan.
"Capital Markets Day 2024" (0800 GMT).
(*) BUZZI BZU.MI
JP Morgan on Wednesday raised its rating on the Italian construction group to 'neutral' from 'underweight' and the target price to 46 euros from 33 euros.
Deutsche Bank on Wednesday cut its rating on the company to 'hold' from 'buy'.
M&A-ITA
Italy's ITA Airways is heading for a full-year profit and is in good financial shape for a planned tie-up with Lufthansa which can yield significant synergies, the Italian carrier's chairman Antonino Turicchi said in a newspaper interview on Wednesday.
GENERALI GASI.MI
Fitch Ratings confirmed Generali's Insurer Financial Strength (IFS) rating 'A+' with a positive outlook, reflecting "group's very strong capitalisation, low financial leverage and very strong company profile".
WEBUILD WBD.MI
The Italian construction group told Reuters on Tuesday its activities connected to Saudi Arabia's NEOM are continuing in line with the plan, after the infrastructure mega project's long-time chief executive left the role last week.
DIARY
Prime Minister Giorgia Meloni meets Argentina President Javier Milei in Buenos Aires (Argentina).
Economy Minister Giancarlo Giorgetti attends G20 Summit leader in Rio de Janeiro, Brazil.
Rome, "Business Forum Italy-Ukraine" chaired by Foreign Minister Antonio Tajani, with Ukraine Deputy Prime Minister and Economy Minister Yulia Svyrydenko, Industry Minister Adolfo Urso, Italian Trade Agency (ICE) President Matteo Zoppas, Defence Ministry interim Secretary General Luisa Riccardi (1715 GMT).
Rome, Industry Minister Adolfo Urso attends banking association ABI executive committee meeting (0900 GMT).
Rome, fund managers' association Assogestioni holds corporate governance event "Board-shareholder dialogue: policy debate, legal constraints and best practices" with Economy Undersecretary Federico Freni, ENEL ENEI.MI Chairman Paolo Scaroni (0900 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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