Italy - Factors to watch on March 7

Published 07-03-2017, 01:22 pm
© Reuters.  Italy - Factors to watch on March 7
GASI
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SRG
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UBI
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MT
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ISP
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LDOF
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BMPS
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MFEB
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JSTL
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BGN
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DANI
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EIT
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PSF
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STEP
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FCT
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PST
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TGYM
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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 .

ECONOMY

The leaders of the euro zone's four biggest economies threw their weight behind a multi-speed Europe on Monday as the European Union ponders a future without Britain. releases January producer prices data (0900 GMT); monthly bulletin on the state of the economy in February (1000 GMT).

OECD releases 'Interim Report Economic Outlook' (1000 GMT) and January composite leading indicator (1100 GMT).

Bank of Italy releases February data on Target 2 liabilities and European Central Bank funding to Italian banks.

DEBT

Treasury announces sale of 12-month BOT bills, with relative amounts to be auctioned on March 10.

COMPANIES

(*) INTESA SANPAOLO ISP.MI

Italy's biggest retail bank said on Tuesday it had agreed to sell its 50 percent share in mutual fund platform Allfunds Bank to private equity Hellman & Friedman and Singapore sovereign fund GIC for around 900 million euros in cash ($953 million). SNAM SRG.MI

The gas grid company Snam said on Tuesday adjusted EBITDA for 2016 was 1.987 billion euros, down 3.4 percent on year earlier due to lower regulated revenues. The group proposed an 0.21 euros per share dividend on its 2016 results. company said on Tuesday it expected net profits to grow by four percent a year to 2021 boosted by cost savings and increased investments. It added it would spend five billion euros in the period 2017-2021, investing 4.7 billion euros in Italy. FINCANTIERI FCT.MI

The sale of controlling stake in shipbuilder STX France to Fincantieri FCT.MI is expected to close by the end of April, with the Italian group expected to buy a share between 45 and 49 percent, La Stampa reported without citing sources.

(*) LEONARDO LDOF.MI

The state-controlled defence group said on Tuesday it bought through its DRS unit U.S Daylight Solutions for $150 million euros. Executive Mauro Moretti speaks before Chamber of Deputies Industry Committee on 2014-16 financial results and 2017-2021 industrial plan (1100 GMT).

POSTE ITALIANE PST.MI

The chief executive of Italy's post office said on Monday the government was considering changes to the ownership structure of the company, in which it is a major shareholder. would not be willing to put money into any rescue plan for Alitalia airline. BANCA MONTE DEI PASCHI DI SIENA BMPS.MI

The impasse between the European Central Bank and the European Commission over the capital requirements for the bank is close to being resolved, il Sole 24 Ore reported, citing an exchange of letters between the two.

The report added, however, that there are uphill negotiations between Brussels and Italy over the industrial plan for the lender, particularly with regards to cost cutting and sale of loans.

(*) RAIWAY, EI TOWERS EIT.MI

The Italian tower company is considering a takeover bid for Mediaset's MS.MI Ei Towers, il Messaggero reported without citing sources. The report added that the operation is being examined by Citi.

BANCA GENERALI BGN.MI

Banca Generali (MI:GASI) said on Monday total net inflows in February stood at 668 million euros. STEP.MI

Italian clothing company Stefanel said on Monday it filed arequest with a Treviso court for a further 60 days to present its debt restructuring plan. TGYM.MI

Technogym said 2016 on Monday total revenue was 555.3 million euros versus 511.7 million euros a year ago. It Proposed dividend of 0.065 euros per share. S FAUSTINA PSF.MI

Full year 2016 revenue was 44.1 million euros versus 40.1 million euros a year ago. INDUSTRY

Italy's Ilva steel group has received bids from two consortiums for its loss-making plant in southern Italy, it said on Monday, two years after the state took it over to save thousands of jobs and clean up the polluted site.

The first bid came from ArcelorMittal ISPA.AS , the world's largest steelmaker, and Italy's Marcegaglia, a family-run group. A consortium including India's JSW Steel JSTL.NS and Italian state holding company Cassa Depositi e Prestiti CDP.UL made a rival binding offer.

UBI BANCA UBI.MI

Supervisory Board meeting on FY results.

DANIELI & C. DANI.MI

Board meeting on H1 results.

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