Italy - Factors to watch on September 24
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
Italy's economic growth last year was weaker than previously estimated, national statistics bureau ISTAT reported on Monday, but more positively for the government, the budget deficit and public debt as a proportion of output were also revised down.
DEBT
Treasury announces sale of BTP and CCTeu bonds, with relative amounts to be auctioned on Sept. 27.
COMPANIES
UNICREDIT CRDI.MI
German Chancellor Olaf Scholz slammed as "an unfriendly attack" a move by UniCredit to become the biggest investor in rival Commerzbank CBKG.DE with a potential 21% stake, in a sign of growing hostility towards the Italian bank. A source familiar with the matter told Reuters Barclays helped the Italian lender build its stake in the German rival with derivatives.
(*) From a supervisory point of view Unicredit is behaving in a transparent way, respecting the rules regarding qualifying shareholdings which envisage the use of derivatives, officials told Reuters.
STELLANTIS STLAM.MI
The automaker is searching for CEO Carlos Tavares' successor, the company said Monday, after the company's chief financial officer laid out a plan to strengthen North America operations by slashing its bloated inventories and cutting vehicle prices. The company said it was normal for Stellantis to initiate a search for Tavares' replacement in anticipation of his contract expiring in January 2026, and that it is still possible Tavares will stay after that date.
AUTOS
Italy will file an official proposal this week to bring forward to next year a planned European Union review of the bloc's ban on the sale of new internal combustion engine cars from 2035, Industry Minister Adolfo Urso said on Monday.
ENI ENI.MI
The Italian energy group considers Libya a key country for upstream activities and plans to start exploration in the Ghadames basin next year, its head of North Africa and Levant said on Monday.
LEONARDO LDOF.MI
BlackRock BLK.N, the world's biggest asset manager, has secured Italian government approval to hold a stake of more than 3% in the defence and aerospace group, a government document showed on Monday.
The Italian defence and aerospace group said on Monday it increased its stake to 65% and finalised taking control of navigation systems maker GEM Elettronica, through a 16-million-euro investment.
TELECOMS
The Italian broadband network operator Fibercop, in which KKR KKR.N is a leading investor, plans to cut its workforce by 1,300 through a voluntary early retirement scheme, two sources with knowledge of the matter told Reuters.
(*) POSTE ITALIANE PST.MI
The postal service company has kick-started a beauty contest to select an advisor for the sale of a 15% stake on the market, Il Messaggero reported, citing sources close to the matter. It added that the deadline for candidates to submit proposals on how to structure the sale would be the end of the week.
(*) AEFFE AEF.MI
The fashion group, which includes brands Alberta Ferretti, Moschino and Pollini, said on Tuesday founder Alberta Ferretti would leave the creative direction of the brand, adding the person chosen to succeed her would be announced in the coming months. Ferretti will retain her role as Vice President of the group, the statement added.
TENARIS TENR.MI
'Investor Presentation' in London (1100 GMT).
DIARY
Prime Minister Giorgia Meloni and Foreign Minister Antonio Tajani attend U.N. 79th high-level debate in New York (to Sept. 24).
Rome, Terna TRN.MI holds news conference to present award ceremony and exhibition opening '2024 Driving Energy Award' "The way of the invisible" with Chairman Igor De Biasio, CEO Giuseppina Di Foggia (0900 GMT).
Rome, think-tank Nomisma presents report on credit cards and digital payments (0830 GMT); Economy Undersecretary Federico Freni delivers welcome address.
Rome, Bank of Italy Deputy Governor Luigi Federico Signorini delivers introductory remarks at workshop "Building a quantum safe financial system: what role for authorities and for the private sector?" (0645 GMT).
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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