Italy - Factors to watch on April 24

Reuters
04-24
Italy - Factors to watch on April 24

The following factors could affect Italian markets on Thursday.

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.

DEBT

Treasury sells 2.5-3.0 billion euros 2.55% BTP Short bonds due Feb. 25, 2027. Subscriptions close at 0900 GMT.

COMPANIES

ASSICURAZIONI GENERALI GASI.MI

Chief Executive Philippe Donnet faces a shareholder vote on Thursday to stay in the job for another three years, after he struck a landmark asset management deal that irked both a major investor and the Rome government.

(*) UniCredit will back the list of directors submitted by Italian tycoon Francesco Gaetano Caltagirone, Bloomberg news reported on Wednesday.

(*) UniCredit has increased its stake in Generali to between 6% and 7%,a person with knowledge of the matter said on Thursday.

(*) The Benetton family, one of the insurer's shareholders, will abstain from voting, several Italian dailies reported on Thursday.

(*) Italian banking foundation Fondazione CRT, which holds a 1.9% stake in Generali, could support Caltagirone's list, Italian daily Corriere della Sera reported on Thursday.

UNICREDIT CRDI.MI

The bank led by CEO Andrea Orcel on Wednesday held its first board meeting since the government on Friday imposed a number of prescriptions to authorise the bid for Banco BPM, two people close to the matter said. UniCredit has said the prescriptions could be harmful for the bank, adding it had immediately engaged with the government and could not take, at present, a final decision in relation to the bid, which starts on Monday and runs until June 23. UniCredit has a right to drop it until June 30.

ENI ENI.MI

(*) The energy group on Thursday reported a smaller than expected 11% yearly dropin adjusted net profit for the first quarter.

The group will hold a post-results conference call at 1200 GMT.

(*) The UK government and the Italian energy company are set to approve a 38-mile pipeline to collect carbon dioxide from industrial facilities in Liverpool and Manchester for offshore storage, the Financial Times reported on Wednesday.

(*) STELLANTIS STLAM.MI

New car registrations at the car maker in the European Union, Britain and the European Free Trade Association (EFTA) in March fell by 5.9%, European Automobile Manufacturers Association ACEA data showed.

(*) PIRELLI PIRC.MI

The tyre-maker said on Wednesday it has signed an agreement with Nordic tyre service provider CTS for a long-term, strategic partnership that will allow Pirelli to strengthen its commercial presence in the region.

BANCO BPM BAMI.MI

The bank will hold a board meeting on Thursday to approve a formal recommendation to shareholders over the UniCredit CRDI.MI bid, which the bank has already rejected as hostile; followed by conference call with Chairman Massimo Tononi and CEO Giuseppe Castagna (1530 GMT).

SAIPEM SPMI.MI

The Italian energy contractor said on Wednesday its first-quarter core earnings jumped 31% year on year driven by the group's offshore engineering and construction activities.

A post-results conference call will be held at 0830 GMT.

(*) STMICROELECTRONICS STMMI.MI

The chipmaker forecast improving earnings for the second quarter on Thursday after its first-quarter earnings, which the chipmaker called the bottom point of the year, met its earlier expectations.

(*) MONCLER MONC.MI

HSBC on Thursday cut its rating to 'hold' from 'buy' and cut the target price to 60 euros from 66 euros.

(*) BANCA PROFILO PRO.MI

A recent audit by the Bank of Italy on the lender revealed shortcomings in its investment banking division, Italian daily Il Sole 24 Ore reported on Thursday, adding a break-up and a sale of assets are expected soon.

(*) JUVENTUS FC JUVE.MI

The soccer club stumbled to a 1–0 defeat at Parma on Wednesday.

(*) SS LAZIO LAZI.MI

The Rome-based team defeated Genoa 2–0.

DIARY

Economy Minister Giancarlo Giorgetti attends World Bank and IMF 'Spring Meetings' and G20-G7 finance ministers and central bank governors meeting.

Rome, Industry Minister Adolfo Urso and Labour Minister Marina Calderone convene meeting on the Telecommunications sector (1230 GMT); representatives from trade associations and trade unions expected to attend.

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

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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