Italy - Factors to watch on May 9
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
Italian Prime Minister Giorgia Meloni to hold meetings with opposition parties to discuss plans for institutional reforms (from 1030 GMT onwards).
DEBT
Italy will sell up to 8.75 billion euros in BTP bonds at a May 11 auction, the Treasury said on Monday.
COMPANIES
BANCO BPM BAMI.MI
Italy's third-largest bank on Monday raised its 2023 profit goal, after joining peers in posting stronger-than-expected first-quarter earning thanks to higher interest rates.
In a conference call, CEO Giuseppe Castagna was confident that the bank would further increase its shareholders' remuneration policy and said no M6A operation could be as profitable as organic growth.
(*) MONTE DEI PASCHI DI SIENA BMPS.MI
The state-owned lender on Tuesday reported a much larger than expected jump in first quarter net profit as it slashed costs and, like peers, reaped the benefits of higher interest rates.
(*) IVECO IGV.MI
Italy's Iveco Group has agreed to buy the full ownership of its joint venture with U.S. start-up Nikola NKLA.O developing battery electric and fuel cell heavy-duty trucks, the two companies said on Tuesday.
ENEL ENEI.MI
Rebel investor Covalis criticised Italy's institutional investor club Assogestioni for not seeking an independent chair at Italy's biggest utility and called for a new organisation to promote corporate governance reform.
(*) Enel's Spanish unit Endesa ELE.MC on Tuesday posted a 76% year-on-year increase in first-quarter net profit as lower gas prices helped offset the impact of Spain's windfall tax.
LEONARDO LDOF.MI
Annual general meeting expected to approve the Italian government's nominations of former energy minister Roberto Cingolani as CEO and former ambassador Stefano Pontecorvo as chairman (from 0830 GMT).
Cingolani will have the additional role of Director General, while the head of the Italian unit of European missile maker MBDA Lorenzo Mariani will return to Leonardo with the role of co-director general, sources told Reuters.
Italy's antitrust agency has dismissed a conflict-of-interest complaint against Cingolani's appointment at Leonardo, the opposition lawmaker behind the complaint told Reuters on Monday.
TELECOM ITALIA (TIM) TLIT.MI
The phone group has sent a new process letter to KKR KKR.N and the CDP-Macquarie MQG.AX consortium, who are pursuing rival bids for TIM's landline grid, asking for clarifications on their offers and on next steps ahead of the June 9 deadline for the submission of final offers, two sources close to the dossier said on Monday.
(*) Telecom Italia's Brazilian unit TIM SA TIMS3.SA on Monday reported a 4.3% increase in first-quarter net profit, boosted by its mobile phone service business.
(*) FINCANTIERI FCT.MI
The Italian shipbuilder said on Tuesday its unit Vard had won a contract for the design and construction of two Commissioning Service Operation Vessels for UK's North Star.
A2A A2.MI
The Italian utility announced on Monday the mutually-agreed end to exclusivity on negotiations for the purchase of a 50.1% stake in EGEA, adding that the negotiations would continue in the context of a competitive procedure open to others.
(*) Luca Dal Fabbro, the chairman of rival utility Iren IREE.MI, reiterated to La Stampa daily on Tuesday that the company was "interested in a competitive procedure" for the purchase of a stake in smaller peer EGEA.
TERNA TRN.MI
Annual general meeting (0900 GMT).
FINECOBANK FBK.MI
Board meeting on Q1 results, followed by conference call (1200 GMT).
BREMBO BRBI.MI
Board meeting on Q1 results (0730 GMT), followed by conference call (1230 GMT).
DIASORIN DIAS.MI
Board meeting on Q1 results, followed by conference call (1300 GMT).
BANCA POPOLARE DI SONDRIO BPSI.MI
Board meeting on Q1 results, followed by conference call (1400 GMT).
BPER BANCA EMII.MI
Board meeting on Q1 results, followed by conference call (1600 GMT).
INWIT INWT.MI
Board meeting on Q1 results, followed by conference call (1600 GMT).
AUTOGRILL AGL.MI
Board meeting on Q1 results (revenues up to April 30).
CREDITO EMILIANO EMBI.MI
Board meeting on Q1 results.
FINCANTIERI FCT.MI
Board meeting on Q1 results.
DIARY
Industry Minister Adolfo Urso ends two-day mission to Romania; bilateral meeting with Romanian Economy Minister Florin Spataru (0800 GMT); Environment Minister Barna Tanczos (0930 GMT).
The European House Ambrosetti holds closed-door event "Scenario forum: business and professions" with Economy Deputy Minister Maurizio Leo (0700 GMT).
PwC Italia holds new meeting online for 'Italy 2023: people, work, companies' cycle on "Sustainability and EU rules: implications for companies" with joint stock companies association Director General Stefano Firpo, Environment Minister Gilberto Pichetto Fratin (0800 GMT).
Rome, Economy Minister Giancarlo Giorgetti attends swearing-in ceremony of new Commander General of tax police 'Guardia di Finanza' (1500 GMT).
Rome, banking association ABI representative to speak before Chamber of Deputies Finance Committee on tax reform (1230 GMT).
Milan, "Made in Steel" starts (0830 GMT); ends on May 11. On Tuesday Fiera Milano FIMI.MI CEO Luca Palermo, Federacciai President Antonio Gozzi (0830 GMT); expected attendees include Milan Stock Exchange President Claudia Parzani (0930 GMT); Danieli & C. DANI.MI Chairman Giampiero Benedetti (1230 GMT).
Milan, IRTOP Consulting holds EGM (Euronext Growth Milan) Investor Day (0800 GMT); expected attendees include Gibus GBUSS.MI CEO Alessio Bellin (0815 GMT), Lindbergh LDB.MI CEO Michele Corradi (0830 GMT), SG Company SB SGCO.MI CEO Davide Verdesca (0845 GMT), Portobello PORTO.MI Chairman Pietro Peligra (0900 GMT), Laboratorio Farmaceutico ERFO ERFO.MI CEO Alessandro Cutè (0915 GMT), SCM SIM SCM.MI CEO Antonello Sanna (0930 GMT), Take Off TKOF.MI CFO Paolo Mongelli (0945 GMT), Neosperience NSP.MI CEO Dario Malpignano (1000 GMT); First Capital FICP.MI CEO Vincenzo Polidoro attends round-table discussion with investors (1015 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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