Italy - Factors to watch on May 15
The following factors could affect Italian markets on Monday.
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 leaders promised on Saturday continued military and financial backing for Ukraine and reiterated support for its EU membership bid asPresident Volodymyr Zelenskiy visited Rome for the first time since the war began.
(*) Italy's Foreign Minister Antonio Tajani warned in an interview with Il Messaggero on Monday of a new wave of migrants from Africa to Europe if the Black Sea deal on grain exports is not renewed.
ECONOMY
(*) The European Commission will forecast Germany's economic growth this year at 0.2%, while projecting a 1.2% rate for Italy, Italian daily La Stampa reported on Monday, citing Brussels-based sources.
Bank of Italy releases March data on public finances, state borrowing and debt.
DEBT
Fitch left its rating on Italy's sovereign debt unchanged at BBB on Friday and also confirmed a stable outlook. The U.S. agency revised its 2023 forecast for the Italian economy to 1.2% from 0.5% previously, due to significant easing of the natural gas crisis in Europe, a strong rebound in tourism and the strengthening of global demand. In 2024, Fitch expects the economy to expand by 0.8%, slower than the 1.3% that it forecast in March.
COMPANIES
(*) UNICREDIT CRDI.MI
Italy's second-largest bank is well above the Minimum Requirements for Own Funds and Eligible Liabilities (MREL) set by Resolution authorities.
INTESA SANPAOLO ISP.MI
Goldman Sachs held a 6.42% stake in the Italian bank as of May 5, mostly through financial derivative contracts.
WEBUILD WBD.MI
A consortium led by Webuild has won two contracts worth a total of over 3.7 billion euros ($4.07 billion) to build high speed railway links in southern Italy, the country's largest construction company said on Friday.
SNAM SRG.MI
The Italian gas grid operator could raise its stake in the Rovigo regasification terminal to 25-30% from the current level of around 7%, the La Repubblica newspaper reported on Sunday.
The paper added that international funds, including KKR KKR.N, Macquarie MQG.AX, BlackRock BLK.N, Energy Infrastructure ENIAQ.UL and Igneo Infrastructure could buy the remaining stakes in the facility.
Current owners ,Exxon Mobil Corp XOM.N and Qatar Energy, have opened the data room to potential bidders, La Repubblica said, citing financial sources.
SARAS SRS.MI
Global commodities trader Trafigura has raised its stake in the Italian refiner to 12.46% from 5.23%, the companies said on Friday, strengthening Trafigura's foothold over Mediterranean oil flows.
ILLIMITY ILTY.MI
CEO Corrado Passera told the Milano Finanza newspaper on Saturday he expects "strong competition" for sight deposits in the coming months, prompting illimity to increase returns for sight depositors to preserve its funding structure despite having nearly 900 million euros in readily available liquidity.
LOTTOMATICA LTMC.MI
Norges Bank held a 3.4% stake as of May 3, the company's first day of listing. David Sambur (Apollo) had 67.78%, according to data published by Italy's market watchdog CONSOB.
JUVENTUS JUVE.MI
The Agnellis have become more open to discussing future options for Italian soccer club Juventus, the only major loss-making asset in Exor's portfolio, financiers involved in regular talks with the family told Reuters.
Options discussed include the possibility of selling a stake to a minority partner, but any possible decision is not imminent and will come only once there is clarity on the accounting and judicial clouds hanging over the club, sources said.
Second-half goals by Nicolo Fagioli and Gleison Bremer secured Juventusa comfortable 2-0 win against second-bottom Cremonese in Serie A on Sunday, but the result was soured by another injury to midfielder Paul Pogba.
LAZIO LAZI.MI
A late goal by Sergej Milinkovic-Savic rescued a 2-2 home draw for Lazio against relegation-threatened Lecce in Serie A on Friday, but the club's hopes for a top-four finish and a Champions League spot remain in jeopardy.
IPO, ITALIAN DESIGN BRANDS (IDB)
(*) Tamburi Investment Partners (TIP) is a long-term investor in the high-quality furniture and design company, IDB's Chief Executive Andrea Sasso told Corriere della Sera's L'Economia.
IDB's IPO ends on Monday.
IPO, MISSONI
Plans for a stock market listing of the Italian fashion group have been postponed to beyond 2023, the CEO of minority investor FSI, Maurizio Tamagnini, told the Milano Finanza newspaper on Saturday.
INTERPUMP GROUP ITPG.MI
Board meeting on Q1 results.
CREDITO EMILIANO EMBI.MI
Trades ex-dividend of 0.33 euro per share.
DIARY
Rome, Chamber of Deputies meets on law decree 'Messina bridge' (1000 GMT).
Italy, two-day first round of local elections ends, with polls closing at 1300 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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