Italy - Factors to watch on September 27
The following factors could affect Italian markets on Friday.
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
Italy is targeting 1% economic growth this year and 1.2% in 2025 and has revised down its deficit goals as a proportion of gross domestic product (GDP) for both this year and next, sources said ahead of the publication of the figures on Friday.
ISTAT releases July industry sales data (1000 GMT) and August producer prices data (0900 GMT).
DEBT
The Treasury sells up to 8.75 billion euros over four BTP bonds. Subscriptions close at 0900 GMT.
COMPANIES
ENI ENI.MI
Suitors have approached the energy company over the potential sale of a second stake in its biofuel unit Enilive as the Italian group discusses the final details of a deal to sell a stake in the unit to KKR KKR.N, two sources said on Thursday.
UNICREDIT CRDI.MI
Commerzbank CBKG.DE will hold a first round of talks with UniCredit on Friday, the German bank's designated CEO Bettina Orlopp said on Thursday, as the Italian lender presses for a possible tie-up and its rival hones its defence.
Just minutes before Orlopp spoke, Commerzbank put out a statement saying its supervisory and management boards unanimously agreed to support the bank's current strategy of independence, and increased profit and payout targets to woo investors.
Italian Deputy Prime Minister Matteo Salvini said on Thursday he would not want UniCredit to shift its legal base to Germany as part of a possible deal with Commerzbank, and that Rome was still considering its position on a tie-up.
(*) BANKING SECTOR
The country's banking association ABI is willing to make up to 1.5 billion euros available to the government in additional cash for state finances, Il Messaggero daily said on Friday, adding that banks are considering three different options to do so. The report added that banks are considering either an advance on deferred tax assets they pay, or on social contributions paid for their employees or a percentage of the taxes paid by citizens through banking channels.
(*) AUTOS
There are increasing hurdles in talks between the Italian government and Dongfeng 0489.HK over an auto plant in Italy, as the Chinese motor group is setting out various conditions including ones that involve opportunities in Italy for other Chinese groups such as Huawei, Corriere della Sera wrote on Friday.
ASCOPIAVE ASCI.MI, ITALGAS IG.MI
The regional utility is aiming to grow further in the gas distribution market and is ready to bid for assets that Italgas IG.MI, Europe's biggest gas distributor, may be forced to sell on antitrust grounds if its acquisition of main domestic rival 2i Rete Gas goes through.
(*) MONCLER MONC.MI
Chairman and CEO Remo Ruffini is tightening his control of the outerwear specialist after striking a deal with LVMH LVMH.PA, which will partner with Ruffini to fund an expanded investment in the Italian company.
Under the deal announced late on Thursday, LVMH purchased a 10% stake in Double R, the investment vehicle controlled by the CEO's Ruffini Partecipazioni Holding, which currently has a 15.8% stake in Moncler.
AEFFE AEF.MI
The fashion group has agreed to transfer the ownership of its 'Moschino' brand in relation to a range of products such as cosmetics and perfumes to Euroitalia for 98 million euros ($110 million), it said on Thursday.
(*) FINCANTIERI FCT.MI
Jefferies said on Friday it would start coverage of the shipbuilding group, with a 'Hold' rating and a share target price of 5 euros.
(*) INTERPUMP ITPG.MI
The group said on Friday it would buy back 250,000 shares for a maximum price of 44 euros per share, equal to a total amount of 11 million euros.
JUVENTUS JUVE.MI
Board meeting on FY results.
DIARY
Assogestioni releases August fund flows data (0900 GMT).
Rome, Cabinet meeting (0900 GMT).
Milan, ITA Airways holds news conference on H1 results with Chairman Antonino Turicchi, Director General Andrea Benassi, CFO Claudio Faggiani (0930 GMT).
Naples, Industry Minister Adolfo Urso attends last of two-day general meeting of metal and mechanics industry body Federmeccanica.
Turin, 'Tech Week' ends (0730 GMT); on Friday expected attendees include Zalando ZALG.DE co-Founder and co-CEO Robert Gentz, Milan Stock Exchange Chairwoman Claudia Parzani, Telecom Italia (TIM) TLIT.MI CEO Pietro Labriola, Ferrari RACE.MI CEO Benedetto Vigna, ZEST ZEST.MI Chairman Marco Gay.
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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