Italy - Factors to watch on April 23
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.
POLITICS
Italian Prime Minister Giorgia Meloni and her right-wing allies have kept control of the small southern region of Basilicata, election results on Monday showed, defeating their centre-left opponents by a wide margin.
ECONOMY
(*) Italy multi-year deficit projections are already broadly in line with new European Union budget rules which are set to kick in next year, the country's economy minister said on Monday. "The [required] adjustment is fully within our reach," Minister Giancarlo Giorgetti said, addressing parliament on Italy's state finances.
DEBT
(*) Italy expects the European Central Bank (ECB) to start cutting interest rates from the second half of 2024, the country's economy minister said on Monday.
Treasury sells 2.0-2.5 billion euros 3.20% BTP Short due Jan. 28, 2026; 1.0-1.25 billion euros 1.50% BTPei due May 15, 2029; 1.0-1.25 billion euros 1,80% BTPei due May 15, 2036. Subscriptions close at 0900 GMT.
COMPANIES
TELECOM ITALIA (TIM) TLIT.MI
Italy's former phone monopoly's CEO Pietro Labriola appeared set to secure a second term after leading investor Vivendi VIV.PA decided to abstain in a shareholder vote on the renewal of the company's board.
TIM shareholders will vote on Tuesday on the composition of the new board. With its 24% slate, Vivendi was the main hurdle to a reappointment of the current CEO, who wants to press ahead with a revamp centred on a planned sale of TIM's fixed-line access network to U.S. fund KKR KKR.N.
Annual and extraordinary shareholders' meeting (0900 GMT).
SAIPEM SPMI.MI
The Italian energy contractor said on Monday its first-quarter adjusted core earnings rose 40% on the same period of last year, driven by growth at its offshore engineering and construction business.
Conference call on Q1 results (0830 GMT).
ENEL ENEI.MI
Italy's Antitrust authority said on Monday it was looking into how the country's biggest utility had communicated recent material gas and power price increases to its domestic customers.
(*) ENI ENI.MI
Oslo-listed Vaar Energi VAR.OL, majority-owned by Italy's oil group, on Tuesday posted first-quarter operating profit in line with expectations, while maintaining a $270 million dividend guidance for the second quarter.
(*) IVS IVS.MI
Italian coffee maker Lavazza said it would launch a voluntary tender offer to buy a 28.36% stake of IVS for 185 million euros, in agreement with the vending machine operator's majority shareholder, aiming at taking it private.
(*) STELLANTIS STLAM.MI
The automaker laid off 199 full-time workers at its Sterling Heights Assembly Plant that builds the Ram 1500 in suburban Detroit, Automotive News said on Monday.
The layoffs took effect Monday as the automaker continues to trim its head count, it added.
BRUNELLO CUCINELLI BCU.MI
Annual and extraordinary shareholders' meeting (0800 GMT).
UNIPOLSAI US.MI
Annual and extraordinary shareholders' meeting (0830 GMT).
ERG ERG.MI
Annual general meeting (0830 GMT).
INWIT INWT.MI
Annual general meeting (1300 GMT).
BREMBO BRBI.MI
Annual general meeting (0900 GMT).
FINCANTIERI FCT.MI
Annual general meeting (0900 GMT).
SALVATORE FERRAGAMO SFER.MI
Annual general meeting (0700 GMT).
ERMENEGILDO ZEGNA GROUP ZGN.N
Releases Q1 revenues (1330 GMT), followed by conference call (1200 GMT).
DIARY
Industry Minister Adolfo Urso ends mission to Egypt.
Rome, Interministerial Committee for Economic Planning and Sustainable Development (CIPESS) chaired by Prime Minister Giorgia Meloni meets (1045 GMT).
Rome, Prime Minister Giorgia Meloni receives Tagikistan President Emomali Rahmonov (1300 GMT).
Rome, Cabinet chaired by Prime Minister Giorgia Meloni meets (1530 GMT).
Rome, Senate Budget Committee meets on the government's economic and financial document (DEF) (0730 GMT).
Rome, Economy Minister Giancarlo Giorgetti visits Energy Service Operator (GSE) (1300 GMT).
Rome, insurers association ANIA holds 4th edition Innovation event "Insurance and artificial intelligence: innovation at the service of the country" (0800 GMT); President Ania Maria Bianca Farina delivers opening address (0800 GMT); expected attendees include small companies association Confartigianato President Marco Granelli, National Cybersecurity Agency (ACN) Director General Bruno Frattasi, Assicurazioni Generali GASI.MI Italian Country Manager and CEO Giancarlo Fancel (interviewed) (0825 GMT); Allianz ALVG.DE Italian CEO Giacomo Campora (interviewed) (0910 GMT); Cabinet Undersecretary Alessio Butti (1040 GMT); Farina delivers closing address (1055 GMT).
Rome, Roma Tre University holds awarding ceremony on Legal Science Banking and Finance degree to Bank of Italy Governor Fabio Panetta (0830 GMT); Panetta gives speech at 0930 GMT.
Milan, "Luxury Summit 2024, education and sustainability 4.0: the new frontier of luxury" (0730 GMT); expected attendees include Italian Fashion Chamber CNMI President Carlo Capasa, Italian luxury goods companies association Altagamma Foundation General Manager Stefania Lazzaroni, Sistema Moda Italia President Sergio Tamborini (0750 GMT); Hermes HRMS.PA Italian CEO Francesca di Carrobbio, Kering PRTP.PA Chief People Officer Beatrice Lazat (0840 GMT); Tod's TOD.MI Chairman and CEO Diego Della Valle (0910 GMT); Kiton CEO Antonio De Matteis, Prada Group 1913.F CSR Senior Manager Pamela Bussi (0950 GMT); Bulgari Group and LVMH Italian Sustainable Development Director Eleonora Rizzuto (1030 GMT).
Turin, conference of scientific and space experts and of agricultural experts 2024 (0930 GMT); expected attendees include Foreign Minister Antonio Tajani, University and Research Minister Anna Maria Bernini, Agriculture Minister Francesco Lollobrigida, Environment and Energy Security Minister Gilberto Pichetto Fratin.
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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