Italy - Factors to watch on Nov. 26
The following factors could affect Italian markets on Tuesday.
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.
DEBT
Treasury sells 1.5-2.0 billion euros of 3.10% BTP Short bonds due Aug. 28, 2026; 0.75-1.0 billion euros 1.50% BTPei bonds due May 15, 2029; 500-750 million euros 0.10% BTPei bonds due May 15, 2033. Subscriptions close at 1000 GMT.
Italy's Treasury said on Monday it would sell up to 8.25 billion euros in bonds at a Nov. 28 auction.
COMPANIES
UNICREDIT CRDI.MI, BANCO BPM BAMI.MI, MONTE DEI PASCHI BMPS.MI
Italy reserves the right to use its golden power legislation aimed at shielding strategic assets with regard to UniCredit's plans to take over Banco BPM, Economy Minister Giancarlo Giorgetti said.
The move risks scuppering the government's plans to form a third strong banking player alongside Intesa Sanpaolo and UniCredit through a merger of Banco BPM with state-owned Tuscan lender Monte dei Paschi di Siena (MPS).
(*) UniCredit CEO Andrea Orcel said on Monday that the Italian government's initial response to his bank's unsolicited bid for rival Banco BPM is only natural as every change in the banking system needs careful assessment.
Banco BPM will make an initial assessment of Unicredit's bid at a board meeting on Tuesday, its spokesperson said.
(*) UniCredit's bid had created upset at Banco BPM's headquarters because of the low price of the offer which appears "almost offensive", Il Sole 24 Ore wrote in unsourced report.
(*) Credit Agricole CAGR.PA, the main investor in Banco BPM with a 9.2% stake, entered equity swap agreements with two investment banks - JPMorgan and Jefferies - to increase its stake to 19%, Il Sole 24 Ore reported citing market rumours.
UNICREDIT CRDI.MI
The European Union's General Court has rejected UniCredit's request to suspend a European Central Bank order to scale back its presence in Russia, according to a court document, in a blow to the Italian lender which has been operating in the country for over 30 years.
MONTE DEI PASCHI BMPS.MI
Barclays held a 5.412% indirect stake in the bank, including over 4% in long positions, as of Nov. 18, Italy's market watchdog CONSOB said in a filing on Monday.
GENERALI GASI.MI
France's Natixis Investment Managers is holding early-stage talks with Italian insurer Generali about a potential tie-up, a person with knowledge of the situation said, in a deal that could create one of the largest fund managers in Europe.
(*) State-backed Cassa Depositi e Prestiti (CDP) may buy a stake in Italy's top insurer in order to stabilize its shareholder base.
SAIPEM SPMI.MI
Norges Bank held a 3.158% stake in the oil service company as of Nov. 21, Italy's market watchdog CONSOB said in a filing on Monday.
(*) WEBUILD WBD.MI
The construction group raised its stake to 58% in the consortium known as Eurolink - responsible for the future construction of the giant bridge designed to connect Sicily with the mainland - after buying a 13% stake from Cooperativa CMC, Il Fatto Quotidiano reported.
SALVATORE FERRAGAMO SFER.MI
Ordinary and extraordinary shareholders' meetings (0800 GMT).
DIARY
Fiuggi, G7 foreign ministers' meeting ends. Foreign Minister Antonio Tajani holds final news conference (1545 GMT).
Rome, Interior Minister Matteo Piantedosi speaks before intelligence parliamentary committee COPASIR (1530 GMT).
Rome, Industry Minister Adolfo Urso meets representatives from metalworking trade unions (1200 GMT).
Rome, event on the Sicily Bridge with Webuild WBD.MI CEO Pietro Salini, Infrastructure and Transport Minister Matteo Salvini (0830 GMT).
Rome, event on AI with Justice Minister Carlo Nordio, Italian Trade Agency (ICE) President Matteo Zoppas (0830 GMT).
Rome, 'National Hydrogen Strategy' presentation with Environment and Energy Security Minister Gilberto Pichetto Fratin, Energy Services Manager (GSE) President Paolo Arrigoni (0930 GMT).
Rome, Industry Minister Adolfo Urso attends first "Italy-Mexico Business & Investment Forum" (1400 GMT).
Milan, listing event by BCC Iccrea Group for first series "Guaranteed Banking Bonds" with Milan Stock Exchange CEO Fabrizio Testa, CONSOB Commissioner Federico Cornelli, Bcc Iccrea Group Deputy General Manager and CFO Francesco Romito (1030 GMT).
Milan, listing event by Snam SRG.MI 'Energy infrastructure for a sustainable future' on MOT Professional segment with CFO Luca Passa (0730 GMT).
Milan, Industrie De Nora DNR.MI holds 'Sustainability Day' (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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