January 17, 2020 / 7:31 AM / a month ago

Italy - Factors to watch on Jan. 17

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 .

ECONOMY

ISTAT releases November foreign trade data (0900 GMT) and December final CPI and HICP data (1000 GMT).

COMPANIES

ATLANTIA (*) Autostrade per l'Italia, the toll-road unit of Italy's infrastructure group Atlantia, will go bankrupt if the government revokes its motorway concession, its Chief Executive Roberto Tomasi told La Repubblica newspaper. (*) In a separate interview with La Repubblica daily, on Friday Industry Minister Stefano Patuanelli said that revoking Autotrade's concession is a consequence of Genoa's disaster and that conditions of Autostrade-run roads made feel people unsafe.

Autostrade pledged to increase by 40% its spending on road maintenance in the next four years, as it tried to mend fences with the Italian government over its management of highways in the country.

The Italian government will not discuss whether to strip Atlantia's motorway concession at a cabinet meeting on Friday, Prime Minister Giuseppe Conte said, as the company awaits a decision on its future.

PRYSMIAN

The Italian cable maker said on Thursday it was reviewing any potential impact on 2019 earnings of a fault in its Western Link project after identifying its location it and defining a roadmap to repair it as quickly as possible.

FIAT CHRYSLER (*) The Italian American automaker and the parent of iPhone assembler Foxconn plan to set up a joint venture to manufacture electric vehicles and to engage in the business of wirelessly connected vehicles in China, Fiat Chrysler and Hon Hai said in separate statements.

(*)CERVED

Intrum is offering 450 million euros cash for Cerved's bad loan business, MF daily said. A rival offer from Credito Fondiario envisages a merger between the company controlled by U.S. fund Elliott and Cerved Credit Management, MF said, adding that Cerved shareholders would hold a 70% stake of the combined entity valued at up to 700 million euros. The board is torn over which offer it should accept but the deal should go through, the paper added.

DOVALUE

EJF Investments has raised its stake in Italy's biggest bad loan specialist above 10% and could increase it further to as much as 20% depending on market conditions, the hedge fund said in a filing with market watchdog Consob.

GEOX

The shoe maker said on Thursday it had appointed Livio Libralesso as its new CEO and unveiled plans to close around 80 stores over three years. It expects the planned store closures to drive a 35-40 million euro decline in sales and a 5 million euro increase in operating results. The company reported a 3.3% drop in sales at constant currencies for 2019.

CATTOLICA ASSICURAZIONI

The Italian insurer said on Thursday it had called an extraordinary shareholder meeting on March 7 to approve amendments to its corporate governance rules, adding it had launched a top management reorganisation.

(*) CARIGE (shares suspended from trading)

Former top shareholder Malcalza Investimenti has filed a 480 million euro claim against the bank, depositor guarantee scheme FITD and lender Cassa Centrale Banca over how they managed Carige's rescue, Il Sole 24 ore said, quoting Ansa press agency.

(*) ALITALIA (unlisted)

U.S. carrier Delta earlier this month reiterated in a letter to the Italian parliament that it was ready to invest up to 100 million euros for a 10 percent stake in the ailing rival if conditions for its participation were met, Il Sole 24 Ore said.

ENEL

Credit Suisse raised target price to 8 euros from 7 euros

DIARY

Rome, cabinet meeting (0800 GMT).

Rome, Economy Minister Roberto Gualtieri meets trade unions on tax wedge.

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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