Italy - Factors to watch on June 1
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 IT/DIA.
POLITICS
Italy's cabinet on Wednesday approved a bill to create a fund to support domestic firms, the industry minister said in a statement, in a move aimed at shoring up strategic supply chains.
The upcoming national strategic fund for "Made in Italy" products will have an initial endowment of 1 billion euros ($1.10 billion) in state cash, the statement said, adding it would also aim to boost procurement of "critical raw materials."
The head of Italy's central bank Ignazio Visco on Wednesday backed the introduction of a minimum wage to address social inequalities, in comments that contrast with the position of Rome's right-wing government.
COMPANIES
STELLANTIS STLAM.MI
The Moody's ratings agency on Wednesday upped the outlook for the Italo-Franco-American carmaker to positive from stable, citing its "continued progress in terms of margins and leverage improvements".
It also said a long-term rating upgrade to Baa1 from Baa2 is "likely" if the company is able to sustain adjusted EBITA margins of more than 8% and keep its debt/EBITDA ratio below 2.0x.
LEONARDO LDOF.MI
(*) The Italian defence group is expected to sign contracts with Azerbaijan next week, including an order for the supply of two C-27J aircrafts, Il Sole 24 Ore daily reported on Thursday.
Italy's government on Wednesday lifted an arms embargo on Saudi Arabia linked to the war in Yemen, saying it was no longer necessary given the improved situation on the ground and Riyadh's role in peace mediation efforts.
TELECOM ITALIA (TIM) TLIT.MI
Italian state lender CDP will hold a board meeting on Thursday but it will not discuss the bid for TIM's landline grid, a source said, adding that CDP is still working on the matter with its partner Macquarie MQG.AX ahead of a June 9 deadline set by TIM to receive improved offers for the asset.
(*) BANCA MONTE DEI PASCHI (MPS) BMPS.MI
Credit ratings agency Moody's said on Wednesday it had affirmed MPS' Ba2 deposit and B1 senior unsecured debt ratings and changed the outlook to positive from stable amid a restructuring.
Banco BPM BAMI.MI is not interested in merging with MPS, its chairman said on Wednesday, and Credit Agricole CRAP.PA is also not looking at a deal at the moment, the French bank's Italian unit chairman was quoted as saying by MF.
(*) MEDIOBANCA MDBI.MI
Jefferies has raised the bank to "buy" from "hold" and increased the target price to 12.4 euros from the previous 10.6 euros.
MAIRE TECNIMONT MTCM.MI
The Italian engineering group said on Wednesday it would work with the government of Azerbaijan on possible joint projects on renewable energy, energy efficiency and energy transition.
FINECO FBK.MI
The Italian bank will enter the FTSE EuroMid index from June 19, FTSE Russell said.
FTSE MIB
No changes in the FTSE MIB blue chip index following a quarterly review, FTSE Russell said.
(*) EUROVITA (not listed)
An agreement on the rescue plan for the ailing insurer by a group of around 15 banks and five insurers is still far off, MF reported on Thursday.
ECONOMY
May PMI manufacturing HCOB data (0745 GMT).
ISTAT releases April unemployment rate date (0800 GMT).
Transport Ministry releases May car sales data (1600 GMT).
May state sector borrowing requirement data.
DEBT
Treasury announces coupons of new 4-year 'Btp Valore', BTP bond for retail investors only.
COMPANIES
AUTOGRILL AGL.MI
Dufry DUFN.S ends full mandatory takeover bid on Autogrill ordinary shares.
DIARY
Moldova, Italian Prime Minister Giorgia Meloni attends second European Political Community (EPC) meeting to discuss issues affecting the continent, including security and energy.
Oslo, NATO Foreign ministers meeting ends; Italian Foreign Minister Antonio Tajani attending.
Washington, Italian Industry Minister Adolfo Urso starts his visit to U.S.; ends on June 2.
Rome, government holds meeting with state auditor 'Corte dei Conti'; expected attendees include European Affairs, South and PNRR Minister Raffaele Fitto, Cabinet Undersecretaries Alfredo Mantovano and Giovanbattista Fazzolari.
Rome, state lender Cassa Depositi e Prestiti (CDP) holds annual general meeting on 2nd call.
Turin, "Economy International Festival" starts (0900 GMT); ends on June 4. On Thursday expected attendees include EU Competition Commissioner Margrethe Vestager via videoconference (0900 GMT); expected attendees include John Elkann, Chairman for Stellantis STLAM.MI, Ferrari RACE.MI, Exor EXOR.AS (1200 GMT); EU Economy Commissioner Paolo Gentiloni (1300 GMT); Intesa Sanpaolo ISP.MI Chairman Gian Maria Gros-Pietro (1400 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/
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