Italy - Factors to watch on October 9
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
The Italian government's 1% economic growth target for this year will be more difficult to reach after downward revisions made last week by national statistics bureau ISTAT, Economy Minister Giancarlo Giorgetti said on Tuesday.
Giorgetti also told parliament that the government intends to change part of a contested law on corporate governance rules that has triggered criticism from asset managers and financial companies.
(*) Giorgetti also urged the European Central Bank to continue to cut interest rates, saying "I don't feel there is a need for restrictive monetary policy". Foreign Minister Antonio Tajani made similar comments in Sao Paulo, news agency ANSA reported on Wednesday, calling on the ECB to show "more courage" and make "substantial" rate cuts.
Italy expects to be able to unveil by the end of this year a proposed reform of financial markets regulation as the government works to stem a steady draining of liquidity from its capital markets, a Treasury official said on Tuesday.
(*) Italy's demographics are the worst in Europe in terms of economic growth potential between 2023 and 2040, Scope Ratings said on Wednesday, with a rapidly ageing population posing a threat to the country's strained public finances.
Bank of Italy releases August data on Italian residents deposits with domestic banks, banks' lending to non-financial companies and gross bad loans at Italian banks.
DEBT
Italy's Treasury said on Tuesday it would sell up to 9.5 billion euros in bonds at an Oct. 11 auction.
COMPANIES
(*) UNICREDIT CRDI.MI
Deutsche Bank DBKGn.DE is considering taking on Morgan Stanley MS.Nas an advisor on the Commerzbank dossier, la Repubblica reported, citing financial sources.
(*) DOVALUE DOVA.MI
The debt collector said on Wednesday it had signed Unlikely to Pay (UTP) contracts for approximately 300 million euros of gross book value, conferred by two leading Italian banks and transferred into the Efesto Fund, managed by a doValue subsidiary along with Finint investments.
STELLANTIS STLAM.MI
Spain has granted the Franco-Italian automaker a 133 million euro ($146 million) subsidy for its potential battery-making plant near the northeastern city of Zaragoza, Industry Minister Jordi Hereu said on Tuesday.
PIRELLI PIRC.MI
Camfin, the vehicle of the tyremaker's Executive Vice Chairman Marco Tronchetti Provera, bought further shares in the company this month amounting to a 0.38% stake, bringing its total shareholding to around 25.7%, according to a regulatory filing.
The board of Camfin, Pirelli's second largest investor, this month authorised it to increase its stake to up to 29.9% in 24 months.
DIARY
Rome, Environment and Energy Security Minister Gilberto Pichetto Fratin addresses Chamber of Deputies Environment and Productive Activities committees on the role of nuclear energy in the energy transition and decarbonisation process (0630 GMT).
Rome, Industry Ministry holds meeting on AST company of Terni with Industry Minister Adolfo Urso (1300 GMT).
Rome, Industry Minister Adolfo Urso attends conference "Industrial dynamics and cooperative entrepreneurship: the challenges of the Italian system" (0930 GMT).
Rome, Senate continues discussion on budget plan; ends on Oct. 10.
Ancona, G7 'Health' ministerial meeting starts; ends on Oct. 11.
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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