29 de julio de 2015 / 4:07 / hace 2 años

Italy - Factors to watch on July 29

7 MIN. DE LECTURA

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 .

Debt

Treasury sells 6.5 billion euros 6-month BOT bills. Subscriptions close at 0900 GMT.

Companies

Saipem

The Italian oil contractor slashed its guidance for the year on Tuesday as it booked writedowns of 929 million euros and announced a restructuring plan that includes 8,800 job losses as it cuts costs to counter falling oil prices.

Barclays cuts price target to 10.70 euros from 10.90 euros, rating equal weight; JP Morgan cuts price target to 7.83 euros from 8.40 euros, rating underweight; Citigroup cuts price target to 8.20 euros from 9 euros, rating neutral; Nomura cuts price target to 5.40 euros from 5.90 euros; rating reduce

Italcementi

HeidelbergCement agreed to buy control of Italcementi in a deal that values its smaller Italian rival at 6.7 billion euros, less than three weeks after Holcim and Lafarge completed their $44 billion cement mega-merger. Il Sole 24 cited market rumours claiming a counter bid from one of the richest men in Africa could be in the making.

The Italian cement maker holds board meeting on H1 results.

Fiat Chrysler

A judge in the state of Georgia has reduced a $150 million award to $40 million for the family of a young boy killed when the 1999 Jeep Grand Cherokee in which he was riding was rear-ended and burst into flames, according to orders released on Tuesday.

Socgen raises price target to 14 euros from 11.8 euros; rating hold

CEO Sergio Marchionne is expected present a detailed review of potential tie-up options at Thursday's board meeting on results, Il Sole 24 Ore said citing a report in Detroit News naming as possible candidates General Motors, Volkswagen and Renault-Nissan.

Telecom Italia

The Italian phone company is to bolster its Brazilian unit with the addition of a chief operating officer to help revive sales and get the company in shape ahead of possible industry consolidation, two people with direct knowledge of the matter told Reuters.

Italy's communications regulator AGCOM has set wholesale prices phone companies will have to pay to Telecom Italia to access its nationwide copper and fiber network for the period 2014-2017, the regulator said in a statement on Tuesday.

Snam

The gas grid company forecast flat gas demand in Italy this year as its first-half net profit rose 9.1 percent to 612 million euros.

Intesa Sanpaolo

The bank's management board meets on Wednesday to prepare second quarter results which will be better than consensus, Il Messaggero said. The paper said there are 12 in the reckoning for the bank's consumer credit unit Accedo.

Fincantieri

Italian Prime Minister Matteo Renzi won backing from the Senate on Tuesday to keep open a shipyard operated by the state-controlled Fincantieri, which prosecutors had ordered partially closed on environmental concerns.

Goldman Sachs cuts price target to 0.69 euros from 0.72 euros, rating neutral

Rcs Mediagroup

A deal has been reached for the sale of the publisher's book business to Mondadori ahead of the RCS board meeting on results on Thursday, Il Messaggero said.

Acea

The utility reported revenue at 1.44 billion euros ($1.59 billion) in the first half, down 4.6 percent year on year. Net profit was at 99.3 million euros, up 23.4 percent year on year.

Ansaldo Sts, Finmeccanica

The railway signaling company reported on Tuesday first-half revenues of 632.4 million euros, up 8.8 percent year on the year. Net profit was 39.3 million euros, up 8.4 percent.

Finmeccanica said on Tuesday it had amended the contract to sell its 40 percent stake in Ansaldo STS to Hitachi to help speed up the closing of the deal. The change envisages that a Ansaldo STS shareholder meeting to close the deal may already be held on Oct 1. It also said its six representatives on Ansaldo STS's board have tendered their resignation which will become effective at the deal close.

* Hitachi Rail CEO Alastair Dormer expects to finalise the acquisition of Ansaldo in the fourth quarter and said clearance from China's competition watchdog was still pending, according to some newspapers.

Ei Towers

The group said on Tuesday that its net profit rose 5.6 percent to 20.3 million euros in the first half.

Conference call on H1 results (0800 GMT).

Cnh Industrial

Board meeting on Q2 and H1 results, followed by conference call (1300 GMT).

Enel Green Power

Board meeting on H1 results, followed by conference call (1530 GMT).

Moncler

Board meeting on H1 results, followed by conference call (1600 GMT).

Recordati

Board meeting on H1 results, followed by conference call (1400 GMT).

Inwit

Conference call with analysts on H1 results (1400 GMT).

Edison

Board meeting on H1 results.

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...... IT-LEN

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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