Italy - Factors to watch on April 24
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.
POLITICS
Italy's Senate gave final approval on Tuesday to a contested government plan to allow groups who "support motherhood" into abortion clinics to try to deter women from terminating pregnancies.
Italy's cabinet approved a bill on Tuesday aimed at laying down ground rules for the use of Artificial Intelligence (AI), earmarking investment in the sector and setting sanctions for AI-related crimes, ministers said.
ECONOMY
Ratings agency Fitch said on Tuesday that a larger-than-expected take-up of the Italy's 'Superbonus' tax credit scheme for energy-saving home improvements has put the country's debt-to-GDP ratio on an upward trajectory.
The agency also warned in a statement that reduced fiscal space might complicate fiscal and economic policymaking and increase tensions within the coalition government.
ISTAT releases April consumer and business confidence data (0800 GMT).
DEBT
Treasury sells 1.5 billion euros 12-month BOT bills due July 12, 2024; 1.5 billion euros 12-month BOT bills due Aug. 14, 2024; 3.0 billion euros 12-month BOT bills due Nov. 14, 2024. Subscriptions close at 0900 GMT.
The Treasury said on Tuesday it would offer up to 10.25 bln euros of bonds at auction on April 29.
COMPANIES
ENI ENI.MI
(*) The energy group said on Wednesday it would raise its planned 2024 share buyback by 45% to 1.6 billion euros after beating analysts expectations for its first-quarter net income.
Conference call on Q1 results at 1200 GMT.
Ithaca Energy ITH.L agreed on Tuesday to buy Eni's UK upstream oil and gas assets for about 754 million pounds ($938 million), in a move to create one of the biggest independent operators in the North Sea. Eni will transfer its UK business in exchange for 38.5% of Ithaca's share capital.
TELECOM ITALIA (TIM) TLIT.MI
European Union antitrust regulators are asking rivals and customers whether the proposed acquisition of the former Italian phone monopoly's fixed-line access network by U.S. investment firm KKR KKR.N could hamper Italy's wholesale market, people familiar with the matter said on Tuesday.
The phone group holds a board meeting at 1130 GMT.
RECORDATI RECI.MI
Private equity firm CVC Capital Partners is exploring options for its controlling stake in the Italian drugmaker, Bloomberg News reported on Tuesday, citing people familiar with the matter.
ENEL ENEI.MI
The country's biggest utility said in its 2023 sustainability report that it would fall short on one of the key performance indicators in its sustainability-linked bonds. As a consequence, the group will have to pay a step-up that could exceed 100 million euros according to IFR.
Ten euro and U.S. dollar bonds, all issued by its Enel International Finance NV vehicle, are affected. These comprise five in each currency totalling 5.75 billion euros and $4.75 billion with maturities ranging from 2025 to 2031, IFR said.
(*) FERRARI RACE.MI
CEO Benedetto Vigna confirmed the luxury sports car maker will meet its 2024 targets - announced in February - which include revenues of 6.4 billion euros, an EBITDA margin above 38% and an EBIT margin above 27%, he was quoted as saying by MF on Wednesday.
(*) SARAS SRS.MI
Italy's government has given a conditional approval to a plan by global commodities trader Vitol to take over the oil refiner, Il Sole 24 Ore reported on Wednesday. Rome reviewed the deal under its so-called "golden power" vetting rules for industries deemed as strategic.
(*) JUVENTUS JUVE.MI, LAZIO LAZI.MI
A late goal by striker Arkadiusz Milik sent Juventus into the final of Coppa Italia with a 3-2 aggregate win over Lazio despite a 2-1 defeat in the second leg of their semi-final on Tuesday.
(*) SALCEF GROUP SCFG.MI
The railway company's founders and funds managed by Morgan Stanley Infrastructure Partners (MSIP) said on Wednesday they had reached an agreement and would launch a mandatory takeover bid for Salcef at a price of 26.55 euros per share with the aim of delisting it. The deal will give Salcef an equity value of around 1.62 billion euros.
ASSICURAZIONI GENERALI GASI.MI
Annual general meeting (0700 GMT).
INTESA SANPAOLO ISP.MI
Annual and extraordinary shareholders' meetings (0800 GMT).
A2A A2.MI
Annual general meeting (0800 GMT).
MONCLER MONC.MI
Annual general meeting (0800 GMT), followed by board meeting on Q1 results, conference call (1600 GMT).
INDUSTRIE DE NORA DNR.MI
Annual general meeting (0800 GMT).
UNIPOL UNPI.MI
Annual general meeting (0830 GMT).
AZIMUT HOLDING AZMT.MI
Annual and extraordinary shareholders' meetings (0900 GMT).
TOD'S TOD.MI
Annual and extraordinary shareholders' meetings (0900 GMT).
FINECOBANK FBK.MI
Annual and extraordinary shareholders' meetings (1030 GMT).
DIASORIN DIAS.MI
Annual general meeting (1230 GMT).
AMPLIFON AMPF.MI
Annual general meeting (1500 GMT).
MAIRE TECNIMONT MTCM.MI
Board meeting on Q1 results, followed by conference call (1530 GMT).
YOLO GROUP YOLO.MI
Ends capital increase.
DIARY
Rome, Senate examines the government's economic and financial document (DEF) (0800 GMT).
Rome, news conference to present National Cybersecurity Agency's (ACN) annual report to Parliament with Cabinet Undersecretary Alfredo Mantovano, Intelligence Parliamentary Committee COPASIR President Lorenzo Guerini, ACN Director General Bruno Frattasi (0830 GMT).
Rome, U.N. food agency FAO releases "Global Report on Food Crises (GRFC 2024)" and holds high-level launch event (1200 GMT); expected attendees include FAO Director General Qu Dongyu and UN World Food Programme (WFP) Executive Director Cindy Hensley McCain in presence, Stefano Gatti form Foreign Ministry; UN High Commissioner for Refugees (UNHCR) Filippo Grandi online.
Milan, Il Foglio holds annual sport event "Foglio Sportivo 2024" (0730 GMT); expected attendees include Sport and Youth Minister Andrea Abodi, soccer league Serie A President Lorenzo Casini, Lombardy region Governor Attilio Fontana, Federazione Italiana Giuoco Calcio (FIGC) President Gabriele Gravina, Italian Olympic Committee (CONI) President Giovanni Malago, AC Milan President Paolo Scaroni, Milano-Cortina 2026 Foundation CEO Andrea Varnier.
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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