Italy - Factors to watch on Oct. 23
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
Italy's economic growth this year and next will be weaker than the government's targets of 1% and 1.2% respectively, the International Monetary Fund (IMF) and the country's main business lobby said on Tuesday.
DEBT
Italy's Treasury will sell up to 5 billion euros in short-term Btp and inflation-linked Btp bonds at Oct. 5 auction, it said on Tuesday.
COMPANIES
(*) UNICREDIT CRDI.MI
The European Central Bank's decision on whether the Italian lender can raise its stake in Commerzbank CBKG.DE to just under 30% is not expected before January 2025, la Repubblica reported. Within a couple of weeks after the ECB's green light, UniCredit should launch a share exchange offer, the newspaper added citing advisors close to the deal.
TELECOM ITALIA TLIT.MI
The second hearing of a legal dispute between Vivendi VIV.PA and Telecom Italia over the sale of the former phone monopoly's fixed line network has been postponed to Nov. 14 from Nov. 5, sources said on Tuesday.
ENI ENI.MI
The oil company is expected to announce an overhaul of its chemical business in the coming days as it presses ahead with its energy transition programme, two sources with knowledge of the matter said on Tuesday.
SAIPEM SPMI.MI
Releases Q3 results.
(*) LEONARDO LDOF.MI
Speaking after nine-month results, the Chief Financial Officer of France's Thales TCFP.PA, Pascal Bouchiat, declined to comment on reports of merger talks involving satellite activities of Airbus AIR.PA, Thales and Leonardo in the face of growing low-cost private competition.
(*) POSTE ITALIANE PST.MI
Should the offer for a stake in the postal services group fail to take place between Nov. 20 and the first ten days of December, it will be postponed to 2025, Corriere della Sera reported. It added that some Italian banking foundations would be willing to invest 150-200 million euros in the sale, covering 6-8% of the offer.
FINCANTIERI FCT.MI
The Italian shipbuilder signed a memorandum of understanding(MoU) on Tuesday with Barzan Holdings, wholly owned by Qatar's ministry of Defense, for the joint development of a short-range radar program.
(*) Fincantieri on Wednesday signed a deal with cruise travel company Viking VIK.N for two cruise ships and the option for a further four ships, to be delivered in 2030 and between 2031 and 2032 respectively. It added the value of the deal was between 500 million euros and 1 billion euros.
(*) JUVENTUS FC JUVE.MI
Juventus coach Thiago Motta took responsibility for his side's poor performance as they suffered their first defeat of the season, losing 1-0 at home to VfB Stuttgart in the Champions League on Tuesday.
DIARY
Rome, President Sergio Mattarella chairs Supreme Defence Council (0800 GMT); Prime Minister Giorgia Meloni attends.
Rome, Industry Minister Adolfo Urso attends thermal spa association Federterme's public meeting "Water, health and well-being: an asset for future generations" (1300 GMT).
Rome, Cabinet Undersecretary Alfredo Mantovano addresses the Parliamentary Committee on Intelligence (COPASIR) (1600 GMT).
Rome, Prime Minister Giorgia Meloni attends ceremony for the 80th anniversary of newspaper 'Il Tempo' (1700 GMT).
Milan, 'Milan Fashion Global Summit 2024' on "The New Rules Top Players" ends (0800 GMT); on Wednesday expected attendees include Ermenegildo Zegna Group ZGN.N Chairman and CEO Gildo Zegna, Brunello Cucinelli BCU.MI Chairman Brunello Cucinelli.
Milan, ASSIOM FOREX holds '2024 Fall conference' on "Economy, markets and AI: is the gap between U.S. and Europe growing?" (1200 GMT).
Pescara, G7 'Development' ministerial meeting continues; ends on Oct. 24.
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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