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Italy - Factors to watch on Sept. 19
September 19, 2017 / 4:03 AM / 3 months ago

Italy - Factors to watch on Sept. 19

The following factors could affect Italian markets on Tuesday.

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 .

COMPANIES

TELECOM ITALIA

The phone group said there was no plan to spin off or sell its fixed line network, which it called strategic for company and its industrial plan.

The company holds an extraordinary board meeting on Tuesday. According to Il Sole 24 Ore and Il Messaggero, the meeting was requested by independent directors to discuss a recent market watchdog Consob’s ruling that Vivendi exercises de facto control over Telecom Italia.

BANKS

The government is considering including in the next budget law measures to widen the scope of bad loan securitisations as well as to allow banks to issue bonds that would rank between senior and junior debt in the event of a default, Il Sole 24 Ore reported.

PIRELLI

State-owned China National Chemical Corp (ChemChina) will give up control of Pirelli as part of the Italian tyremaker’s return to the bourse to show Beijing has a market friendly approach to investments in Europe, Pirelli’s chief executive said on Monday.

Pirelli’s upcoming listing leaves some long-term questions unanswered. The maker of sleek tyres is seeking to raise up 3.3 billion euros ($4 billion) in an initial public offering in Milan. A shift towards luxury products has boosted sales and margins. But growth targets look ambitious and there is no clarity on who will take over from long-term boss Marco Tronchetti Provera.

CEO Marco Tronchetti Provera attends news conference to present an art exhibition preview in Milan (0800 GMT).

ENI

The head of Algeria’s state-run energy group Sonatrach said ENI and Total were in negotiations over large projects, including in field output optimisation, petrochemicals and solar energy at oil and gas fields.

(*) PIAGGIO

The scooter maker said on Tuesday it had signed a partnership with China’s Foton Motor Group to develop innovative solutions for light commercial vehicles.

TOD‘S

Arthur Arbesser was appointed creative director at Fay, the clothing brand of luxury group Tod‘s.

ATLANTIA

Results of debt buyback offer.

ALERION

Italy’s market regulator Consob has requested the launch of a full takeover offer on Alerion shares at 2.9 euros per share given shareholder accord between Fri-El and Stafil, the regulator said in a statement on its website.

CALTAGIRONE EDITORE

A buyout offer by Chiara Finanzaria aimed at delisting the publishing group failed to reach the targeted threshold after investors tendered shares amounting to just 0.3 percent of the offer.

IPO, GIMA TT, IMA

The order book for the initial public offering of GIMA TT, a unit of Italy’s IMA Industria Macchine Automatiche, is already covered twice, a source close to the situation said on Monday.

IPO, SPACTIV

The initial public offering of Italy’s Spactiv has been subscribed for 80 million euros ($95.4 million) to date, a source close to the situation said on Monday.

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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