Italy - Factors to watch on Nov.8
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.
POLITICS
Italy urged the European Union on Thursday to guarantee bond issuance needed to finance defence, saying a NATO spending target of at least 2% of gross domestic product (GDP) by 2028 clashed with the EU's revamped fiscal rules.
Italy has extended its domestic tax on digital services to small and medium-sized enterprises (SMEs) to try to overcome U.S. objections that the levy is discriminatory, Economy Minister Giancarlo Giorgetti said on Thursday.
Economy minister Giorgetti said it would be good to have a meeting with Lufthansa LHAG.DE CEO Carsten Spohr at the weekend to overcome a dispute regarding the sale of a minority stake in state owned ITA Airways.
(*) An Italian navy ship carrying a small group of migrants docked in an Albanian port on Friday in an attempt by Rome to salvage a plan to process asylum seekers abroad after a first attempt hit legal hurdles.
ECONOMY
ISTAT releases September industrial output data (0900 GMT); monthly bulletin on the state of the economy in September and October (1000 GMT); September retail sales data (1100 GMT).
Bank of Italy releases October data on Target 2 liabilities and European Central Bank funding to Italian banks.
(*) Milan has attracted more than $30 billion of real estate investment, according to Reuters calculations on real estate services companies' data, including from foreign players. But a flurry of formal complaints from residents objecting to the mushrooming of multistorey buildings has triggered a raft of investigations into whether city authorities cut corners to support the construction boom.
DEBT
Treasury offers up to 3.0 billion euros over two bonds due in 2028 and 2030 in exchange of four BTP bonds due in 2025 and 2026.
Treasury announces sale of BTP bonds, with relative amounts to be auctioned on Nov. 13.
COMPANIES
(*) STELLANTIS STLAM.MI
The carmaker will once again halt car production in December at its Mirafiori plant in Turin, for at least another month, daily MF reported on Friday, citing two sources.
LEONARDO LDOF.MI
(*) U.S. President-elect Donald Trump's push for Europeans to spend more on defence is in line with the goal set by the group for more cross-border alliances in the sector, CEO Roberto Cingolani said on Thursday in a post-results call.
The Italian aerospace and defence group stopped short of raising its 2024 guidance due to external factors, including the Boeing crisis, Cingolani said.
(*) It said it expected to release an update to its industrial plan in March 2025, which would include new business opportunities for its aerostructures business, which could no longer rely solely on U.S. giant Boeing. .
(*) Along with Enel ENEI.MI and Ansaldo Energia, the group has given its availability to set up a state-backed company to build advanced nuclear reactors in the country, CEO Roberto Cingolani told La Stampa in an interview published on Friday. He said "We will see how the regulatory framework will evolve", adding that energy is a matter of national and global security.
PIRELLI PIRC.MI
Italian tyre maker Pirelli said on Thursday its operating profit rose more than expected in the third quarter, thanks to growing volumes, product mix and efficiencies.
(*) CEO Marco Tronchetti Provera said that regarding the Sinochem investigation, the procedure is specifically on measures to guarantee the absence of organisational and functional links between Pirelli and shareholder China National Tire & Rubber Corporation (CNRC).
(*) FINCANTIERI FCT.MI
The shipbuilder said on Friday it signed with Crystal an order for the construction of a high-end cruise ship, following the exercise on an option granted in an agreement disclosed at the end of June. The deal has a value between 500 million euros and 1 billion euros.
BREMBO BRBI.MI
Brembo's acquisition of suspension technology manufacturer Ohlins Racing, its biggest ever, will not prevent the Italian premium brake maker from assessing further and larger M&A deals, its top executive said on Thursday.
(*) BANCA MONTE DEI PASCHI DI SIENA BMPS.MI
The bank on Friday reported a larger than expected 31% yearly rise in profit for the third quarter of the year, as income from its lending business performed strongly in the period.
(*) UNIPOL UNPI.MI
The financial group reported a 5.9% year-over-year decline in its nine-month net profit on Friday as it agreed to fund nearly 500 requests of early retirement from staff.
AZIMUT AZMT.MI
Italian asset manager Azimut Holding AZMT.MI has raised its 2024 net profit guidance to 550-600 million euros ($594-648 million) from its previous estimate of 500 million euros, its Chairman Pietro Giuliani said in a statement on Thursday.
BANCA MEDIOLANUM BMED.MI
Italian bank Banca Mediolanum posted an 18% jump in nine-month net profit to 674.3 million euros, the bank said on Thursday, but trimmed its 2024 net interest income (NII) guidance, citing easing interest rates.
(*) NEXI NEXII.MI
The payments group reported of Friday third-quarter revenue of 911.1 million euros ($982.17 million) beating a company-compiled consensus of 908 million euros.
It confirmed its guidance, which includes a mid-single digit growth in revenue and a mid-to-high-single digit growth in core profit compared to last year.
(*) FINECOBANK FBK.MI
Deutsche bank on Friday raised its rating to 'Hold' from 'Sell' and raised its target price to 14.80 euros per share from 13.40 euros per share.
(*) Illimity ILTY.MI
The lender said on Friday it signed a deal with Finwave/OCS Group, controlled by funds managed by APAX Partners, to create a new AI technology leader.
SNAM SRG.MI
'Innovation Day' "Evolving Horizons" with CEO Stefano Venier in Milan (0830 GMT).
RECORDATI RECI.MI
Board meeting on Q3 results, followed by conference call (1500 GMT).
SALCEF GROUP SCFG.MI
Saldib SpA ends full mandatory takeover offer on Salcef Group ordinary shares.
UNIEURO UNIR.MI
The re-opening of the voluntary public tender and exchange offer on ordinary shares by Fnac Darty FNAC.PA and RUBY Equity Investment Sarl ends.
DIARY
President Sergio Mattarella state visit to China continues; ends on Nov. 12.
Prime Minister Giorgia Meloni attends informal EU summit in Budapest.
Chamber of Deputies Speaker Lorenzo Fontana attends 10th Meeting of G20 Country Heads of Parliament in Brasilia.
Rome, World Bank, Bank of Italy and Economy Ministry hold event on "Partnering for Africa's prosperity"; expected attendees at inaugural session include World Bank Group President Ajay Banga, Bank of Italy Governor Fabio Panetta,Economy Minister Giancarlo Giorgetti (0900 GMT); ECB board member Piero Cipollone (1045 GMT).
Milan, Mediobanca MDBI.MI holds event on Golden power, with CEO Alberto Nagel, Industry Minister Adolfo Urso, market regulator CONSOB President Paolo Savona, Cabinet Undersecretary Alfredo Mantovano (1000 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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