Italy - Factors to watch on August 2
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
Italy posted a state sector budget surplus of 2.4 billion euros ($2.59 billion) in July compared to a surplus of 15.83 billion euros in the same month last year, Treasury data showed on Thursday.
ISTAT to release June industrial output data (0800 GMT) and June retail sales data (0900 GMT).
COMPANIES
(*) BANKS, INSURERS, ENERGY, LUXURY
Italian Prime Minister Giorgia Meloni is considering asking banks, insurers and companies in other sectors that have recently made high profits, such as energy and luxury, to pay a "solidarity contribution", La Repubblica reported on Friday.
It added that Economy Minister Giancarlo Giorgetti is against the plan and is instead suggesting cooperation agreements with banks to reinvest some of their profits in the real economy and with insurers to lower their premiums.
La Stampa daily said the possible new tax will not be on the agenda of the next cabinet meeting, scheduled for Aug. 7.
FERRARI RACE.MI
Pricier models such as the Daytona SP3 and growing demand from buyers for personal touches helped the car Italian maker beat second-quarter results forecasts on Thursday and raise its full-year expectations.
(*) Barclays raised its rating to 'Overweight' from 'Equal-weight' and raised the target price to 450 euros from 400 euros.
STELLANTIS STLAMI.MI
Car sales grew by 4.66% in July, Transport Ministry data showed on Thursday. According to Reuters calculations, Stellantis market share was 21.87%.
(*) PRYSMIAN PRY.MI
The cable maker said on Friday a contract it secured in Australia for a new high voltage power interconnector was worth around 600 million euros.
TELECOM ITALIA (TIM) TLIT.MI
Chief Executive Pietro Labriola on Thursday expressed confidence about the disposals of the phone group's submarine cable unit Sparkle and TIM's remaining stake in telecoms tower company INWIT INWT.MI.
(*) According to Il Messaggero daily, the board has asked the CEO to clarify the modalities of the sale of INWIT, during a "much debated board meeting that lasted 7.5 hours".
(*) RAI WAY RWAY.MI
Corriere della Sera daily said on Friday that Rai Way and EI Towers have signed a memorandum of understanding paving the way for their merger.
PIRELLI PIRC.MI
The tyre-maker said on Thursday its full-year guidance for adjusted earnings before interest and tax margin is expected to reach the high-end of its forecast at 15.5% to a bigger contribution from price and product range.
FERRAGAMO SFER.MI
Operating profit at the luxury group declined 41% in the first half of the year, as revenues slowed down in all the main regions.
BANCA GENERALI BGN.MI
The lender said on Thursday its new 100 million euros additional tier 1 instrument, to be issued on August 8, will be fully subscribed by Generali Group companies through a private placement.
FINCANTIERI FCT.MI
The board of state-controlled shipbuilder Fincantieri picked Biagio Mazzotta, head of state auditors at Italy's economy ministry, as its new chairman, a company statement said. Mazzotta succeeds Claudio Graziano, who died in June.
(*) DE' LONGHI DLG.MI
Berenberg cut its rating to 'Hold' from 'Buy' and cut the target price to 33 euros from 37 euros.
EUROGROUP LAMINATIONS EGLA.MI
The manufacturer of components for electric motors said on Thursday it had signed a memorandum of understanding for a strategic alliance in China in the electric vehicle sector.
(*) The company also announced it has agreed to take a 40% stake in Kumar Precision Stampings, an Indian producer and distributor of stators and rotors for electric motors, for 19.9 million euros.
(*) MAIRE MTCM.MI, SARAS SRS.MI
Maire said on Friday its subsidiary NextChem Tech signed a binding term sheet with Saras' Sarlux to act as engineering services and technology provider for a pilot project to produce sustainable aviation fuels in the Sardinian plant of Sarroch.
ERG ERG.MI
Board meeting on H1 results, followed by conference call (1300 GMT).
Milan Stock Exchange After Hours market closed.
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/
($1 = 0.9257 euros)
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