Italy - Factors to watch on Oct. 22
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 IT/DIA.
POLITICS
Italy's government on Monday passed a decree aimed at overcoming court objections to its flagship immigration plan that is aimed at deterring boat migrants by sending them to detention camps in Albania.
DEBT
Treasury announces sale of BTP Short and BTPei bonds, with relative amounts to be auctioned on Oct. 25.
COMPANIES
INTESA SANPAOLO ISP.MI
The bank said on Monday it concluded on Oct. 18 the share buyback programme launched on June 3, buying around 2.62% of its share capital at an average price of 3.5481 euros per share, for a total cost of just under 1.7 billion euros.
Standard Ethics said on Monday it expects no impact on Banca Intesa's ESG rating from the reported privacy incident affecting some of its current account holders, including Italian Prime Minister Giorgia Meloni.
(*) UNICREDIT CRDI.MI
Consolidation within the European banking union brings benefits to the entire system as larger banks mean risks are diversified, and consequently resilience is increased, the head of the Single Resolution Board (SRB), Dominique Labourieux, told Il Sole 24 Ore in an interview, when asked whether a possible deal between UniCredit and Germany's Commerzbank CBKG.DE.
STELLANTIS STLAM.MI
Fitch on Monday revised its outlook on the automaker to 'negative' from positive, while affirming the company's long-term issuer default rating (IDR) at BBB+.
(*) The Italian government wants to link any potential new incentives for the auto sector with guarantees on production and employment levels in Stellantis' Italian plants, Il Messaggero and MF reported.
(*) Total car sales in the European Union dropped by 6.1% year-on-year, the European Automobile Manufacturers Association (ACEA) said on Tuesday, as major markets Germany, France and Italy continued to stagnate. Registrations at Volkswagen VOWG_p.DE rose 0.3%, while they fell 27.1% at Stellantis.
(*) Electrified vehicles - either BEV, PHEV or HEV - sold in the EU accounted for 56.9% of all new passenger car registrations in September, up from 50.3% in the previous year.
(*) ENI ENI.MI
Oslo-listed Vaar Energi VAR.OL, majority-owned by Eni, on Tuesday reported a stronger than expected third-quarter operating profit, while guiding for lower capital expenditure and production costs in 2024 than previously seen.
(*) POSTE ITALIANE PST.MI
The temporary halt in the approval of a document on the sale of a stake in the postal service is linked to decisions over the involvement of private pension funds, on a possible higher share for retail investors and employees, and on the setting an offer window in mid-November, Il Sole 24 Ore reported.
(*) FINCANTIERI FCT.MI
The shipbuilder signed an MoU with Qatar's Barzan Holdings for 40 Omega 360 surveillance radars, Italian government sources said on Monday after a meeting between Prime Minister Giorgia Meloni and Qatar's Emir Sheikh Tamim bin Hamad Al Thani in Rome.
IPO
Dolce & Gabbana is not ready for an initial public offering but is prepared to consider it in the future, the Italian luxury group's chief executive said on Monday.
(*) An IPO is still a possible option for Italian premium coffee maker illycaffe, but not before 2026, Chief Executive Cristina Scocchia told Il Foglio in an interview published on Tuesday.
DIARY
Rome, Emir of Qatar Tamim bin Hamad Al-Thani, continues his official visit.
Pescara, G7 'Development' ministerial meeting starts; ends on Oct. 24. Foreign Minister Antonio Tajani hosts international humanitarian conference on the Middle East focused on Lebanon and Gaza.
Rome, Economy Deputy Minister Maurizio Leo attends presentation of business lobby Confindustria's economic forecasts report "The tangles in competitiveness. Italy's growth between global tensions, rates and NRRP" (0830 GMT).
Rome, conference on "Globalisation, boundaries, identity" with market regulator CONSOB President Paolo Savona, Pirelli & C. PIRC.MI Executive Deputy Chairman Marco Tronchetti Provera (1330 GMT).
Milan, 'Milan Fashion Global Summit 2024' on "The New Rules Top Players" (0800 GMT); ends on Oct. 23. On Tuesday expected attendees include Industry Minister Adolfo Urso, LVMH LVMH.PA Director Masters of Excellence Alexandre Bouquel.
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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