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 .
Bank of Italy releases July data on bank lending and domestic government bond holdings at Italy-based banks.
Italian authorities will hold a new meeting on Monday at the European Commission over a long-awaited project to help banks offload bad loans, Corriere della Sera reported on Tuesday citing sources in Brussels. Italy will present an algorithm to calculate a price at which a state-sponsored vehicle could buy these assets without triggering EU rules on state aid.
Treasury announces sale of BTP bonds, with relative amounts to be auctioned on August 13.
Italy will sell 7.5 billion euros of 12-month BOT bills expiring Sept. 14, 2016 at auction on Sept. 10. ID:nI6N10H01U
TELECOM ITALIA TLIT.MI
Telecom Italia said on Monday it had struck a deal with unions to manage 3,000 identified redundancies via solidarity contracts, early retirement and retraining. ID:nL5N11D3UO
The majority of the 15 Italian banks under the direct oversight of the ECB have been classified as having a risk level of 3 on a scale of 1 to 5 where 5 indicates the bank is 'failing or likely to fail', Il Sole 24 Ore said in an unsourced report. A level of 3 does not require further capital strengthening, it said. Three or four banks, including probably the two unlisted cooperative banks Popolare di Vicenza and Veneto Banca which are already planning fresh cash calls, have been rated 4. Only one bank had a mark of 2.
The Italian car design group is close to sealing a sale to India's Mahindra & Mahindra MAHM.NS ending months of negotiations, Il Sole 24 Ore said in an unsourced report.
The Techint Group, which controls listed steel pipe maker Tenaris , is being probed by Milan prosecutors over alleged international corruption regarding contracts awarded by Brazil's Petrobras, the company and sources said on Monday. ID:nI6N10H01Y
WORLD DUTY FREE WDF.MI
The company said on Monday its board had approved the statement regarding the mandatory takeover bid by Dufry Financial Services on over 94 million of its shares. The board agreed the price of 10.25 euros was fair. ID:nBIA072ed
(*) ATLANTIA ATL.MI
The planned sale of a 30 percent stake in Rome airports' operator Aeroporti di Roma will not take place, as expected, in September, Il Giornale said. The paper cited a source as saying the delay was partly due to the fact that the offers received were not fully satisfactory.
Italy's Lockheed Martin Corp (NYSE: LMT ) LMT.N F-35 fighter jet completed its inaugural flight on Monday, marking the first-ever F-35 flight outside the United States and a major international milestone for the $391 billion weapons program, Lockheed said. ID:nL1N11D0NR
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.