Italy - Factors to watch on October 4
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.
ECONOMY
ISTAT releases Q2 deficit/GDP ratio data (0800 GMT) and August retail sales data (1000 GMT).
OECD releases September composite leading indicator data (1000 GMT).
Italy plans to increase taxation on companies that operate in sectors benefiting from favourable economic conditions, Economy Minister Giancarlo Giorgetti said on Thursday.
COMPANIES
MONTE DEI PASCHI (MPS) BMPS.MI
Italy plans to sell a further stake in the bailed-out bank by the end of this year, Economy Minister Giancarlo Giorgetti said on Thursday.
(*) The Treasury could sell up to 10% of the bank in the coming weeks, bringing the state-owned stake in MPS to under 20%, newspaper MF wrote on Friday.
MEDIOBANCA MDBI.MI
Conditions are not favourable for cross-border banking tie-ups in Europe, the head of the Italian financial group said on Thursday, adding that a potential acquisition of Commerzbank CBKG.DE by UniCredit CRDI.MI would not qualify as a cross-border deal.
BANKING SECTOR
Intesa Sanpaolo Chief Executive Carlo Messina said on Thursday Unicredit can create value through a merger with Commerzbank, as the Italian rival bank already runs a large banking business in Germany.
STELLANTIS STLAM.MI
Rumours of a merger between the Franco-Italian automaker and Renault RENA.PA are "pure speculation," said Stellantis CEO Carlos Tavares on Thursday as he visited one of the company's hubs in eastern France.
Stellantis said on Thursday that it completed the third and last tranche of its 1 billion euro 2024 share buyback program, announced on Aug. 1.
(*) RBC cut its rating on the shares to "sector perform" from "outperform" and cut the target price to 13 euros from 17 euros.
ENI ENI.MI
Italy's Eni will decide about additional stake sales in its renewable and biofuel units, its CEO said on Thursday, keeping in mind that it wants to list them on the stock market and retain the majority of their capital.
(*) The El Feel oil field in Libya, operated by Mellitah Oil and Gas, a joint venture between the Libyan National Oil Corp (NOC) and Eni, reopened on Thursday after a dispute over leadership of Libya's central bank was resolved. However, production resumed but not with full capacity due to maintenance work, two engineers at the field told Reuters.
(*) Britain will provide funding of up to 21.7 billion pounds ($28.46 billion) over 25 years to develop carbon capture and storage (CCS) and hydrogen technology in northern England, the government said on Friday.
The HyNet North West cluster in Merseyside seeks to capture emissions from industrial plants and store them in depleted gas fields in the Irish Sea. It is being developed by a consortium led by the Italian energy group.
TELECOM ITALIA TLIT.MI
Telecom Italia (TIM) will hold a board meeting on Friday over a 700 million euro ($772 million) non-binding bid the telecoms group has received for its Sparkle subsea cable unit, two sources told Reuters on Thursday.
(*) RECORDATI RECI.MI
The Italian pharma group said on Friday it will buy from Sanofi SASY.PA the global rights to Enjaymo, a biologic used to treat cold agglutinin disease (CAD), a rare B-cell lymphoproliferative disorder.
Recordati will make an upfront payment of US$ 825 million and additional payments of up to US$ 250 million linked to sales targets. The transaction is expected to close by the end of 2024, subject to regulatory clearances, the statement said.
(*) LAZIO LAZI.MI
The Roman club won 4-1 at home against Nice in a Europa League match.
DIARY
Environment and Energy Security Minister Gilberto Pichetto Fratin attends "G20 Energy Transition ministerial meeting" in Foz do Igauçu (Brazil).
Economy Minister Giancarlo Giorgetti gives pre-recorded message at 5th congress "Healthy Lifespan – Positive nutrition, anti-inflammation diet, physical activity and sport".
Rome, G7 Competition Authorities' closed-door meeting ends (morning).
Rome, Chamber of Deputies holds final vote on 'Tax decree', starting at 0730 GMT.
Milan, Economy Undersecretary Federico Freni attends conference on "Real economy, financial economy" (0900 GMT).
Florence, "National Festival of the Civil Economy" continues (0730 GMT); ends on Oct. 6. On Friday expected attendees include Economy Deputy Minister Maurizio Leo, Foreign Minister Antonio Tajani.
Mirabella Eclano, G7 interior ministers' meeting ends; final news conference with Interior Minister Matteo Piantedosi.
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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