Italy - Factors to watch on April 9

Reuters
04-09
Italy - Factors to watch on April 9

The following factors could affect Italian markets on Wednesday.

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

Prime Minister Giorgia Meloni will meet U.S. President Donald Trump in Washington on April 17 to discuss the tariffs that he has slapped on European Union imports, her office said on Tuesday.

(*) Meloni said her government would discuss with the European Union alternative ways to use already allocated EU funds to offset the expected negative impact of the tariffs.

The government is preparing to cut its economic growth estimates for both this year and next, sources told Reuters on Tuesday, amid mounting uncertainty due to U.S. trade tariff policy.

Bank of Italy releases February data on Italian residents deposits with domestic banks, bank lending to non-financial companies and gross bad loans at Italian banks.

DEBT

Italy's Treasury said on Tuesday it would sell up to 9 billion euros over four bonds at an auction on April 11.

COMPANIES

(*) MONTE DEI PASCHI (MPS) BMPS.MI, MEDIOBANCA MDBI.MI

The ECB has given on Tuesday the go-ahead for the new shares to be issued by MPS in the share offer for Mediobanca MDBI.MI to be classified as Common Equity Tier 1 (CET1), used to describe the highest quality of capital for banks.

Fondazione MPS and other Italian institutional shareholders, representing just over 1% of the bank, will vote in favour of the capital increase necessary for the Mediobanca bid at a shareholders' meeting next week, several Italian newspapers said on Wednesday.

U.S. funds New York City Comptroller and Florida State Board of Administration, which have a 0.16% and 0.13% stake respectively, will vote against the capital increase, daily La Repubblica said, adding that another fund, Calvert, opposes the deal.

STELLANTIS STLAM.MI

Brazil's auto production fell 12.6% in March from February, totaling 190,008 units, data released by automakers association Anfavea showed on Tuesday.

U.S. President Donald Trump's tariffs on vehicle imports should impact sector investments in Latin American countries due to idled production at Mexico plants, automakers association Anfavea president Marcio Leite said on Tuesday.

ENI ENI.MI

Libya's Mellitah Oil and Gas Company said on Tuesday Norwegian contractor Borr Drilling's Vali rig will start drilling eight offshore gas wells for the group soon, with the aim of producing 160 million cubic feet of natural gas per day.

Mellitah, a joint venture between Libyan state oil firm $(NOC)$ and Italy’s Eni, said the drilling operation would start within a couple of days and it is expected to finish within 15 months.

(*) STM STMMI.MI

The chipmaker's supervisory board has rejected Italy's proposal to appoint Marcello Sala - the head of an economy ministry department - as a board member, but the Italian economy ministry still plans to push his name to shareholders at the Franco-Italian group's general meeting, a source familiar with the matter said.

(*) SANLORENZO SNL.MI

US tariffs will not affect the yacht maker, which already signed an agreement in January to produce a part of its boats in Florida, its executive chairman Massimo Perotti told Il Corriere in an interview published on Wednesday.

DIARY

Rome, King Charles and Queen Camilla State visit to Italy. They are scheduled to meet President Sergio Mattarella and Prime Minister Giorgia Meloni (0845 GMT). Senate and Chamber of Deputies hold ceremony (1250 GMT).

Rome, Prime Minister Giorgia Meloni meets Jordan's Queen Rania (1015 GMT).

Rome, Environment and Energy Security Gilberto Pichetto Fratin attends conference "Energy, perspectives and solutions for craftsmen and small businesses" (0830 GMT).

Rome, Industry Minister Adolfo Urso attends event on Italian olive oil (0830 GMT) event "Manageritalia: 80 years of leadership and innovation for the future of Italy" (0900 GMT).

Rome, state lender Cassa Depositi e Prestiti $(CDP)$ President Giovanni Gorno Tempini and CEO Dario Scannapieco hold news conference to present 2024 results (1230 GMT).

Rome, representatives form Paragon Solutions company address Intelligence Parliamentary Committee (COPASIR) (1400 GMT).

Rome, Cabinet meeting (1430 GMT).

Rome, conference "Telecommunication of the Future. Solutions for telecommunications & telecommunications as a Solution" (0720 GMT); expected attendees include Communication Authority AGCOM President Giacomo Lasorella, Open Fiber CEO Giuseppe Gola, Telecom Italia (TIM) TLIT.MI CEO Pietro Labriola, Iliad Italian CEO Benedetto Levi, Fastweb and Vodafone VOD.L CEO Walter Renna, Poste Italiane PST.MI CEO Matteo Del Fante, Cellnex CLNX.MC Italian CEO Federico Protto, INWIT INWT.MI Director General Diego Galli, Cabinet Undersecretary Alessio Butti.

((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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