Italy - Factors to watch on September 27

Reuters
2024-09-27

The following factors could affect Italian markets on Friday.

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

.

ECONOMY

Italy is targeting 1% economic growth this year and 1.2% in 2025 and has revised down its deficit goals as a proportion of gross domestic product $(GDP)$ for both this year and next, sources said ahead of the publication of the figures on Friday.

ISTAT releases July industry sales data (1000 GMT) and August producer prices data (0900 GMT).

DEBT

The Treasury sells up to 8.75 billion euros over four BTP bonds. Subscriptions close at 0900 GMT.

COMPANIES

ENI

Suitors have approached the energy company over the potential sale of a second stake in its biofuel unit Enilive as the Italian group discusses the final details of a deal to sell a stake in the unit to KKR , two sources said on Thursday.

UNICREDIT

Commerzbank will hold a first round of talks with UniCredit on Friday, the German bank's designated CEO Bettina Orlopp said on Thursday, as the Italian lender presses for a possible tie-up and its rival hones its defence.

Just minutes before Orlopp spoke, Commerzbank put out a statement saying its supervisory and management boards unanimously agreed to support the bank's current strategy of independence, and increased profit and payout targets to woo investors.

Italian Deputy Prime Minister Matteo Salvini said on Thursday he would not want UniCredit to shift its legal base to Germany as part of a possible deal with Commerzbank, and that Rome was still considering its position on a tie-up.

(*) BANKING SECTOR

The country's banking association ABI is willing to make up to 1.5 billion euros available to the government in additional cash for state finances, Il Messaggero daily said on Friday, adding that banks are considering three different options to do so. The report added that banks are considering either an advance on deferred tax assets they pay, or on social contributions paid for their employees or a percentage of the taxes paid by citizens through banking channels.

(*) AUTOS

There are increasing hurdles in talks between the Italian government and Dongfeng over an auto plant in Italy, as the Chinese motor group is setting out various conditions including ones that involve opportunities in Italy for other Chinese groups such as Huawei, Corriere della Sera wrote on Friday.

ASCOPIAVE , ITALGAS

The regional utility is aiming to grow further in the gas distribution market and is ready to bid for assets that Italgas

, Europe's biggest gas distributor, may be forced to sell on antitrust grounds if its acquisition of main domestic rival 2i Rete Gas goes through.

(*) MONCLER

Chairman and CEO Remo Ruffini is tightening his control of the outerwear specialist after striking a deal with LVMH

, which will partner with Ruffini to fund an expanded investment in the Italian company.

Under the deal announced late on Thursday, LVMH purchased a 10% stake in Double R, the investment vehicle controlled by the CEO's Ruffini Partecipazioni Holding, which currently has a 15.8% stake in Moncler.

AEFFE

The fashion group has agreed to transfer the ownership of its 'Moschino' brand in relation to a range of products such as cosmetics and perfumes to Euroitalia for 98 million euros ($110 million), it said on Thursday.

(*) FINCANTIERI

Jefferies said on Friday it would start coverage of the shipbuilding group, with a 'Hold' rating and a share target price of 5 euros.

(*) INTERPUMP

The group said on Friday it would buy back 250,000 shares for a maximum price of 44 euros per share, equal to a total amount of 11 million euros.

JUVENTUS

Board meeting on FY results.

DIARY

Assogestioni releases August fund flows data (0900 GMT).

Rome, Cabinet meeting (0900 GMT).

Milan, ITA Airways holds news conference on H1 results with Chairman Antonino Turicchi, Director General Andrea Benassi, CFO Claudio Faggiani (0930 GMT).

Naples, Industry Minister Adolfo Urso attends last of two-day general meeting of metal and mechanics industry body Federmeccanica.

Turin, 'Tech Week' ends (0730 GMT); on Friday expected attendees include Zalando co-Founder and co-CEO Robert Gentz, Milan Stock Exchange Chairwoman Claudia Parzani, Telecom Italia (TIM) CEO Pietro Labriola, Ferrari CEO Benedetto Vigna, ZEST Chairman Marco Gay.

((Milan newsroom, e-mail: reutersitaly@thomsonreuters.com))

For Italian market data and news, click on codes in brackets:

20 biggest gainers (in percentage)............

20 biggest losers (in percentage).............

FTSE IT allshare index

FTSE Mib index........

FTSE Allstars index...

FTSE Mid Cap index....

Block trades..........

Stories on Italy......

For pan-European market data and news, click on codes in

brackets:

European Equities speed guide...................

FTSEurofirst 300 index..............................

DJ STOXX index......................................

Top 10 STOXX sectors...........................

Top 10 EUROSTOXX sectors......................

Top 10 Eurofirst 300 sectors...................

Top 25 European pct gainers.......................

Top 25 European pct losers........................

Main stock markets:

Dow Jones............... Wall Street report .....

Nikkei 225............. Tokyo report............

FTSE 100............... London report...........

Xetra DAX............. Frankfurt market stories

CAC-40................. Paris market stories...

World Indices.....................................

Reuters survey of world bourse outlook.........

Western European IPO diary..........................

European Asset Allocation........................

Reuters News at a Glance: Equities...............

Main currency report:...............................

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