Italy - Factors to watch on October 28
The following factors could affect Italian markets on Monday.
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
Ratings agency DBRS revised on Friday its trend on Italy to 'positive' from 'stable', citing recent improvements in the country's fiscal path, in a boost to Prime Minister Giorgia Meloni's government.
Italy's Treasury said on Friday it would sell up to 9 billion euros in bonds at the Oct. 30 auction.
(*) Italy will skip its usual autumn issuance of a bond aimed at small savers this year, three market sources said, mainly to avoid a clash with the planned sale of a stake in the state-owned postal service which is also focused on the retail sector.
COMPANIES
UNICREDIT CRDI.MI
German state-backed lender Commerzbank must be fully privatised, but the government is in no hurry, German Finance Minister Christian Lindner told Reuters in an interview on Friday.
Commerzbank CEO Bettina Orlopp said on Friday that the lender was focusing on its standalone strategy, reiterating her stance as the Italian bank expresses interest in a possible tie-up.
European Union governments should refrain from interfering with banking consolidation, which the bloc needs to compete with other major economies, two senior bank executives said on Friday.
MEDIOBANCA MDBI.MI
The Italian bank is focused on internal growth but is ready to consider M&A deals with an industrial and financial rationale, it said on Friday in answers to investors posted on its website, ahead of Monday's annual general meeting. The bank does not plan any merger with Italy's top insurer Generali GASI.MI, it added.
Annual and extraordinary shareholders' meetings due to start at 0900 GMT.
BANCA MONTE DEI PASCHI DI SIENA BMPS.MI
Fitch upgraded the long-term issuer default rating (IDR) of the Italian lender to 'BB+' from 'BB', with a positive outlook.
Shipping magnate Gianluigi Aponte, owner of the MSC group, has turned down a proposal to buy a stake in the Tuscan bank together with a group of Italian investors led by Italian businessman Enrico Marchi, Il Sole 24 Ore reported. Under the scheme, which has failed to gain traction, each investor would take a 1-2% stake for a combined shareholding of around 10%, it said. The Treasury must sell a stake in Monte dei Paschi by Nov. 28, it added.
ENI ENI.MI
The Italian energy group expects 2.5 billion euros in net proceeds from additional disposals that will be completed next year, Chief Transition & Financial Officer Francesco Gattei said on Friday.
(*) Eni and British oil giant BP BP.L have resumed exploration in Libya after onshore drilling was halted in 2014, Libya's national oil corporation (NOC) said on Saturday.
NOC also said in a statement that Eni had started drilling in an area of Ghadames basin on Saturday.
UNIEURO UNIR.MI
Fnac Darty said on Friday that it had reached the minimum threshold for its bid for the Italian retailer, as 67.1% of Unieuro's capital has been tendered.
(*) MAIRE MTCM.MI
The engineering group on Monday confirmed its 2024 guidance and said that new projects for 6 billion euros are in addition to the 3.7 billion euros recorded as of Sept. 30. It added that part of these new orders are expected by the end of this year, while the remaining part is expected to be finalized at the beginning of 2025. These new contracts do not affect the achievement of the 2024 fiscal year guidance, the company added in a statement.
(*) BANCA PROFILO PRO.MI
In reply to media reports, the bank said on Saturday it had a "regular and formal contract for professional services" with Equalize, an Italian private intelligence business which allegedly carried out illegal access to state databases and whose role is under investigation.
(*) PIQUADRO PQ.MI
Marco Palmieri does not rule out an acquisition of a struggling but high-potential brand to put it back into shape, the Chief Executive and founder said in an interview with Corriere della Sera's weekly publication L'Economia, published on Monday. He added there are many opportunities but is waiting for "the right one".
(*) FILA FILA.MI
The group does not rule out new acquisitions, to be financed with debt or by using part of its stake in its Indian subsidiary Doms DOMS.NS, which it listed at the end of 2023, la Repubblica's publication Affari & Finanza reported on Monday, adding the art supplies group will present the guidelines of its new business plan on Nov. 12.
(*) FERRARI RACE.MI
Ferrari's Carlos Sainz won the Mexico City Grand Prix on Sunday after Red Bull's Formula One leader Max Verstappen was twice punished for his driving against title rival Lando Norris and finished sixth.
(*) JUVENTUS FC JUVE.MI
Piotr Zielinski converted two penalties for Inter Milan as they played out a thrilling 4-4 draw with Juventus, for whom Kenan Yildiz scored a late brace, in Serie A on Sunday. The high-intensity match marked the first time in Serie A history that five goals were scored in the first half between Inter and Juve, who remain unbeaten in the league this season.
(*) SS LAZIO LAZI.MI
The club won 3-0 over Genoa at the Olimpico stadium on Sunday.
BASICNET BCNT.MI
Private equity firm Permira has agreed with the Italian group to buy a stake of around 40% in K-Way, valuing the entire company at 505 million euros, the company said on Friday.
4AIM SICAF 4AIM.MI
Starts capital increase; ends on Nov. 11.
SERVIZI ITALIA SERIT.MI
Cometa Srl starts full voluntary takeover bid on Servizi Italia ordinary share; ends on Nov. 15.
IVS IVS.MI
First of two-day of suspension from trading on Euronext Milan, ahead of delisting.
DIARY
Milan, Industry Minister Adolfo Urso gives message (0910 GMT) and Environment and Energy Security Minister Gilberto Pichetto Fratin gives speech (1230 GMT) at "#FORUMAutoMotive".
Turin, employers' association body 'Unione Industriali Torino' holds annual meeting with Foreign Minister Antonio Tajani, Industry Minister Adolfo Urso via videoconference, Environment and Energy Security Gilberto Pichetto Fratin (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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