Italy - Factors to watch on May 5
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 IT/DIA.
(*) POLITICS
The French government must apologise to end a dispute over what Italy considers insulting remarks, including some on migrants arriving by boat, Rome's foreign minister and deputy prime minister said in an interview published on Friday.
ECONOMY
ISTAT releases March retail sales data (0800 GMT).
OECD releases April composite leading indicator data (1000 GMT).
DEBT
Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on May 10.
COMPANIES
(*) BANKS
The ECB's decision to further raise interest rates by 0.25 percentage points to 3.25% will weaken banks' capital ratios and will force them to set aside profits to strengthen them also in anticipation of the imminent entry of Basel III plus rules, the head of the Italian Banking Association Antonio Patuelli told Il Corriere della Sera newspaper on Friday.
BANCO BPM BAMI.MI
Credit Agricole CAGR.PA has not asked banking supervisors for clearance to increase its stake in Italy's third-largest bank above the 9.9% level it recently reached, the head of the French bank's Italian arm said on Thursday.
FERRARI RACE.MI
The Italian luxury sportscar maker produced a bigger than expected 27% rise in first-quarter core profit and forecast a strong second quarter, when deliveries start for its new Purosangue model, for which waiting lists extend to 2026.
TELECOM ITALIA (TIM) TLIT.MI
The phone group said on Thursday it was unhappy with sweetened bids submitted by suitors for its fixed network, and set a final deadline of June 9 to receive an improved offer from at least one of the bidders.
TIM directors met to review rival offers from KKR KKR.N and a consortium comprising Italian state lender CDP and fund Macquarie MQG.AX, worth respectively 21 billion euros ($23.13 billion) and 19.3 billion euros.
Three sources with knowledge of the matter said KKR was willing to work further on its bid's terms. KKR declined to comment.
MONCLER MONC.MI
First quarter sales at Italian fashion group jumped by 23%, beating analysts' expectations, boosted by Chinese demand and a solid growth in the EMEA region.
LISTED STATE-CONTROLLED COMPANIES
Italy's Treasury aims to limit the annual pay and golden handshakes of top bosses in listed state-controlled firms, a draft proposal seen by Reuters showed on Thursday.
(*) EDISON EDNn.MI
The energy group on Friday forecast core earnings to rise to between 1.4 billion euros and 1.6 billion euros this year after reporting a 52.4% first-quarter jump.
(*) WEBUILD WBD.MI
The Italian construction group said its Fisia Italimpianti subsidiary won two water treatment plant contracts in Saudi Arabia worth a combined 408 million euros.
(*) ERG ERG.MI
The Italian energy group said on Friday its Spanish subsidiary signed a deal with IBV Solar Parks to buy a 149 MWp solar power plant under construction in north-western Spain for an enterprise value of 170 million euros.
INTESA SANPAOLO ISP.MI
Board meeting on Q1 results, followed by conference call (1300 GMT).
CNH INDUSTRIAL CNHI.MI
Board meeting on Q1 results, followed by conference call (1330 GMT).
TERNA TRN.MI
Board meeting on Q1 results, followed by conference call (1400 GMT).
PIAGGIO PIA.MI
Board meeting on Q1 results, followed by conference call on Q1 results.
ANIMA HOLDING ANIM.MI
Board meeting on Q1 results.
TECHNOGYM TGYM.MI
Annual and extraordinary shareholders' meetings (0800 GMT).
DIARY
Rome, Foreign Investors Advisory Board (ABIE) holds annual meeting "Global enterprises and the world to come" and presents 3rd report on "Foreign companies in Italy: between signs of recovery and new global risks"; expected attendees include Foreign Minister Antonio Tajani, Nestle Group NESN.S Italian Chairman and CEO Marco Travaglia, Meta META.O Italian CEO Luca Colombo, Industry Minister Adolfo Urso delivers closing address (0730 GMT).
Milan, Forza Italia party starts national meeting (1000 GMT); ends on May 6.
Milan, conference on "New utilities for new customers: sales, services and renewable energy communities" (0720 GMT); expected attendees include A2A A2.MI CEO Renato Mazzoncini, AGSM AIM CEO Stefano Quaglino, IREN IREE.MI CEO Gianni Armani, Siram Veolia CEO Emanuela Trentin, Hera HRA.MI CEO Orazio Iacono, Edison EDNn.MI CEO Nicola Monti, Enel ENEI.MI Italian Director Nicola Lanzetta, Engie ENGIE.PA Italian CEO Monica Iacono (0755 GMT).
Florence, European University Institute (EUI) ends annual meeting on "Building Europe in times of uncertainty" (0700 GMT); ends on May 6. Expected attendees include Spanish Economy Minister Nadia Calvino, ECB board member Frank Elderson, EU Economy Commissioner Paolo Gentiloni (0730 GMT).
Parma, 'Green Economy Festival' starts; ends on May 7. On Friday opening event with Piovan PVNA.MI CEO Filippo Zuppichin, Iren IREE.MI Chairman Luca Dal Fabbro, Credit Agricole CAGR.PA Italian Senior Country Officer Giampiero Maioli, Environment and energy Security Ministro Gilberto Picchetto Fratin (0830 GMT).
Piombino, LNG ship arrival with cargo of liquefied gas (LNG); expected attendees include Snam SRG.MI CEO Stefano Venier, Environment Minister Gilberto Pichetto Fratin, (1230 GMT); followed by news conference (1330 GMT).
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/
($1 = 0.9081 euros)
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