Italy - Factors to watch on Feb. 22

  • Reuters
  • Stock Market News
Italy - Factors to watch on Feb. 22
Credit: © Reuters.

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 .

GENERAL

Italy reported 232 coronavirus-related deaths on Sunday against 251 the day before, the Health Ministry said, while the daily tally of new infections fell to 13,452 from 14,931. new government led by Mario Draghi will discuss measures to curb COVID-19 epidemic at a meeting on Monday, the office of the Italian premier said over the weekend.

DEBT

Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on Feb. 25.

ECONOMY

Italy's business lobby Confindustria said on Saturday it does not expect a significant economic rebound before the third quarter due to the slower-than-expected pace of coronavirus vaccinations and the impact of lockdown restrictions. Commissioner for the economy Paolo Gentiloni said the new government led by Draghi was fundamental to restore confidence in Italy and that it would help overcome any potential resistance from other European member states with regards to reforming the Stability and Growth Pact. ATMI.MI

The group's top investor said it plans to launch a 1.7 billion euro ($2.1 billion) takeover of the Italian motorway group to take it private, implement a broad overhaul and strengthen the company. ITALIA (TIM) TLIT.MI

Representatives from both the 5-Star Movement and the right-wing League party said over the weekend Italian State lender Cassa Depositi e Prestiti should put forward its own slate of board candidates instead of backing nominees supported by TIM's outgoing board at the group's annual general meeting on March 31.

CDP will hold a board meeting on Monday which is expected to clarify whether it would support a slate put forward by TIM's outgoing board, sources have said.

INTESA SANPAOLO ISP.MI , BPER BANCA EMII.MI

BPER signed on Friday the final contracts for the purchase of 486 branches and 134 operational units from Intesa Sanpaolo , the Modena-based lender said, adding the distribution of the branches and operational units showed a high concentration in northern Italy, particularly in Lombardy. SANPAOLO

Italy's biggest bank is eyeing the far-East markets, including China and India, to boost its presence abroad, the head of group's Corporate & Investment Banking unit, Mauro Micillo, told MilanoFinanza on Saturday, adding that Africa could also become an interesting market.

CREDITO VALTELLINESE PCVI.MI

The Italian arm of France's Credit Agricole CAGR.PA said on Friday it secured a deal to buy 1.3% of the Italian bank capital at 10.5 euro per share, the same price it offered for Creval's takeover unveiled in November. ENEL ENEI.MI

CDP could decide on Monday to waive its right of first refusal for the purchase of 50% of Open Fiber(OF), paving the way for the sale of half of the company to the Macquarie fund, La Stampa reported on Monday. The newspaper added that CDP would, however, aim to acquire 10% of OF in order to control the majority of the company and support the single network project.

ATLANTIA ATL.MI

A consortium led by Italian state lender CDP is ready to submit a binding offer for the 88% stake which Atlantia holds in motorway unit Autostrade, paying a price at the top end of a 8.5-9.5 billion euro range, Il Messaggero wrote on Saturday. The consortium would pay 6.2-7.1 million cash, while the remaining payment would be completed in 3-4 years, the Italian daily added. (*) CDP will give the go-ahead to filing the offer at a board on Monday, La Stampa said. The offer would be conditional on the approval of Autostrade's economic and financial plan, which will still take several months, the newspaper added.

(*) CDP Chief Executive Fabrizio Palermo is pushing to complete both Autostrade's acquisition and Tim's TLIT.MI broadband project and stand for a new mandate in the spring, la Repubblica - Affari & Finanza reported on Monday .

(*) A2A A2.MI

The Milan-based utility plans to invest 16 billion by 2030, CEO Renato Mazzoncini told la Repubblica- Affari & Finanza in an interview on Monday, adding that the company wants to grow in Europe in the renewable energy and "waste to energy" sectors. Mazzoncini dismissed rumours he would leave his position to go to Italy's railway group FS.

(*) BANCA PROFILO PRO.MI

Banca Finint has submitted an offer for 62.5% of Banca Profilo , its chairman told la Repubblica- Affari & Finanza on Monday, adding that the acquisition would help Finint land on the stock exchange.

ENI ENI.MI

Italy's Eni on Friday became the latest energy group to increase its climate ambition with a promise to be carbon neutral by 2050, as it seeks to keep pace in an industry under mounting investor pressure to curb emissions. LDOF.MI

Shares in the aerospace and defence group rose 10% on Friday on the back of a media report saying it would raise about 2.1 billion euros from the New York Stock Exchange listing of its U.S. unit DRS. At the request of Italy's market watchdog Consob, the group issued a statement late on Friday saying it was evaluating the possibility of listing DRS. It added no formal decision on the matter had been taken yet. aerospace and defence group is set to appoint Lucio Valerio Cioffi as interim chief technology & information officer (CTIO) replacing Roberto Cingolani, who was named as minister for green transition in Draghi government, Il Sole 24 Ore wrote on Saturday.

SARAS SRS.MI

On Feb. 16 the group's CEO sold 1.67 million shares at a price of 0.7175 euros apiece, a market watchdog filing showed on Friday. RECI.MI

Board meeting on preliminary FY results.

AEDES AED.MI

Starts capital increase; ends on March 11.

BANCA CARIGE CRGI.MI

Ordinary shareholders' meeting on board appointments (0930 GMT).

SIT SITT.MI

SIT Technologies SpA starts voluntary total takeover bid on 4,269,319 warrants of SIT (0730 GMT); ends on March 12.

DIARY

Rome, cabinet meeting on measures to curb COVID-19 epidemic(0830 GMT)

Employers' association fashion unit, Confindustria Moda, President Cirillo Marcolin holds online news conference to present 2020 results and 2021 perspectives (1030 GMT).

Rome, Bank of Italy meets the press on "Review of the Eurosystem's monetary policy strategy" with Bank of Italy Governor Ignazio Visco (1000 GMT).

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