December 20, 2018 / 8:00 AM / 3 months ago

Italy - Factors to watch on Dec. 20

The following factors could affect Italian markets on Thursday.

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 .

POLITICS

Rome, Industry Ministry meets trade unions on telecommunications.

ECONOMY

The European Commission reached a deal with Italy over its 2019 budget, avoiding disciplinary steps against Rome and ending months of verbal sparring. Under the compromise, Italy cut its deficit for next year to 2.04 percent of GDP and its growth forecast for 2019 to 1.0 percent.

Italy's Economy Minister Giovanni Tria said the country's economy should grow by more than 1.0 percent next year.

Reuters releases December asset allocation poll (1200 GMT).

DEBT

Treasury announces sale of six-month BOT bills, with relative amounts to be auctioned on Dec. 27.

UNICREDIT

Italy's biggest lender sold a 170 million euro portfolio of unsecured non-performing Italian leasing contracts to Guber Banca..

(*) OVS, TAMBURI INVESTMENT PARTNERS

A group of three or four Italian investors, which may include Tamburi Investment Partners, is interested in an up to 25 percent stake in the troubled clothing retailer, Il Messaggero said. Singapore's sovereign fund Temasek may also be interested, the paper added. Any project would involve OVS' current CEO Stefano Beraldo.

TELECOM ITALIA

Italy's communications regulator said it had launched a public consultation process on Telecom Italia's plan to legally separate its network. The authority has also updated prices for network access for the 2019-2021 period.

(*) BANCA CARIGE

The bank said on Wednesday that Moody's had confirmed its long-term ratings removing a "credit watch negative" and improving the outlook to "stable" from "under review".

(*) INTESA SANPAOLO

The bank's board is set to discuss on Thursday a credit line to property developer Milanosesto, Il Sole 24 Ore reported. Hines and Prelios could be interested in the project, the paper added.

(*) POSTE ITALIANE

The Italian post office has stopped looking for a motor insurance partner, Il Sole 24 Ore reported.

PIRELLI

Shareholder Long Term Investments (LTI) has entered into a repurchase agreement with SOVA Capital Limited regarding its 6.239 percent stake in the Italian tyremaker. LTI CEO Viacheslav Sheloputov said there were no reasons for the Luxembourg-based to reduce its stake in Pirelli.

A2A, HERA

Italy's biggest regional utility said the competition watchdog had carried out an inspection on Tuesday regarding commercial activities with city of Rome's waste company AMA.

The authority said on Wednesday it had opened an investigation to assess whether eight companies involved in AMA's waste management activity, including a subsidiary of Hera, had breached competition rules.

AUTOGRILL, ELIOR

The Italian travel caterer has shown interest in France's Elior concessions catering business Areas, according to one source. Elior hopes to raise more than 1 billion euros from the sale of Areas, several sources told Reuters.

BENI STABILI, COVIVIO

The Italian real estate group which has been taken over by France's Covivio said on Wednesday it had completed the sale of a portfolio of non strategic assets in Italy for 220.5 million euros.

CHL

The company reiterated it would have to file for insolvency if it did not manage to cover its losses with a capital increase, after its shares lost over 40 percent on Wednesday. CHL added its cash was expected to run out on April 15, or even earlier if subscription commitments were not met in full.

Bourse After Hours market closed.

For Italian market data and news, click on codes in brackets:

20 biggest gainers (in percentage)............

20 biggest losers (in percentage).............

FTSE IT allshare index

FTSE Mib index........

FTSE Allstars index...

FTSE Mid Cap index....

Block trades..........

Stories on Italy...... IT-LEN

For pan-European market data and news, click on codes in brackets: European Equities speed guide................... FTSEurofirst 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurofirst 300 sectors................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Reuters survey of world bourse outlook......... Western European IPO diary.......................... European Asset Allocation........................ Reuters News at a Glance: Equities............... Main currency report:...............................

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