Italy - Factors to watch on May 24



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The following factors could affect Italian markets on Wednesday.

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 approved an emergency relief package worth more than 2 billion euros ($2.2 billion) to help flood-hit areas in the northern region of Emilia-Romagna, Prime Minister Giorgia Meloni said on Tuesday.


Italy is experiencing a surge in rent prices, the country's central bank said on Tuesday, against the backdrop of growing student protests over the rising cost of living in big cities.


COMPANIES


(*) MEDIOBANCA MDBI.MI

Italy's leading investment bank said on Wednesday it plans to increase shareholder remuneration by more than two thirds under a new three-year plan, keeping a 70% cash payout ratio and adding a 1 billion share buyback.

(*) PIRELLI PIRC.MI

The Italian government, as part of its "golden power" investigation, suspects that China's Sinochem has been unduly interfering in the management of the tyre maker, Il Messaggero wrote on Wednesday.

The paper said that the office of the Italian Prime Minister office will conduct hearings with the management of Pirelli and Sinochem, the company's largest shareholder, on June 6 and June 8.

A shareholder pact between major investors Sinochem and Camfin formally came into force on May 19 but remains suspended pending a review by the Italian government through the so-called "golden power" procedure, Pirelli said on Tuesday.


(*) MFE-MEDIAFOREUROPE MFEB.MI

Italy's top commercial broadcaster said on Wednesday its operating profit rose year-on-year by 26% in the first quarter as advertising sales were slightly up in its key domestic market and costs fell.

(*) M&A - ITA AIRWAYS

Italy's government will reach a deal with Germany's Lufthansa LHAG.DE for the sale of a 40% stake in the state-owned airline on Thursday or Friday, the Il Sole 24 Ore and La Stampa newspapers wrote on Wednesday.


(*) DIASORIN DIAS.MI

Over one half of the medical diagnostic group's revenues derive from the United States, CEO Carlo Rosa told the Il Sole 24 Ore newspaper in an interview on Wednesday, adding that in 2022 sales reached 1.3 billion euros, with a 10% rise, and the company was looking at growth in the US and Chinese markets.


(*) JUVENTUS JUVE.MI

The team still hopes to qualify for Europe and are determined to prove on the pitch that their recent Serie A points deduction is just another obstacle that can be overcome, John Elkann, CEO of Exor, the holding company of Italy's Agnelli family which controls Juventus, said on Tuesday.

ASSICURAZIONI GENERALI GASI.MI

Board meeting on Q1 results, press release on May 25.


LEONARDO LDOF.MI

The aerospace group said it had received orders for two more AW 109 helicopters in Britain and Ireland. The helicopter division has been a strong performer so far this year.


ENEL ENEI.MI

Environmental groups ClientEarth and WWF Italy on Tuesday called on the new management of Enel to clarify their stance over the building a new gas power station in the south of the country.


Equatorial Energia SA EQTL3.SA and CPFL Energia SA CPFE3.SA are both considering buying a power distribution firm owned by Italy's Enel in Brazil, they said on Tuesday, although noting that any potential deal remains distant.


BRUNELLO CUCINELLI BCU.MI

Brunello Cucinelli has agreed to sell part of its stake in cashmere yarn company Cariaggi Lanificio to France's Chanel, the Italian luxury group said on Tuesday.

DIARY

Rome, Angola President Joao Manuel Goncalves Lourenco in official visit (1000 GMT).

Rome, Energy Authority (ARERA) representatives speaks before Chamber of Deputies Industry Committee on energy poverty, social bonus payments and waste pricing system (1130 GMT).

Rome, ISTAT representatives speak before Chamber of Deputies Budget Committee on the macroeconomic and public finance effects of building tax incentives (1145 GMT).

Rome, Customs and Monopolies Agency Director Roberto Alesse speaks via videoconference before Chamber of Deputies Finance Committee on tax reform (1200 GMT).

Rome, conference "Raw Materials in the Ecological Transition" (1300 GMT); Chamber of Deputies Speaker Lorenzo Fontana delivers opening address; Environment and Energy Security Minister Gilberto Pichetto Fratin delivers closing address (1400 GMT).

Rome, Economy Minister Giancarlo Giorgetti attends a sport event (1000 GMT).

Rome, state lender Cassa Depositi e Prestiti (CDP) holds annual general meeting; on June 1 on 2nd call.

Rome, The European House Ambrosetti holds 'Position Paper' presentation "Critical raw materials and Italian industrial production, the opportunities arising from the circular economy" (1330 GMT); round-table discussion with Iren IREE.MI Chairman Luca Dal Fabbro (1405 GMT); industry Minister Adolfo Urso delivers closing address (1500 GMT).

Jesi, Industry Minister Adolfo Urso attends inauguration ceremony of building site for Amazon AMZN.O distribution centre (0800 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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