August 1, 2018 / 4:04 AM / 2 months ago

Italy - Factors to watch on Aug. 1

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 .

POLITICS

Economy Minister Giovanni Tria meets French counterpart Bruno Le Maire (0730 GMT); later Le Maire is due to meet Deputy Prime Minister Luigi Di Maio.

Deputy Prime Minister and Economic Development and Labour Minister Luigi Di Maio speaks before Senate Public Works Committee on communication sector programmatic lines (1200 GMT).

Infrastructure Minister Danilo Toninelli speaks before Chamber of Deputies Environment Committee on strategy of the Ministry (1200 GMT).

Extraordinary Ilva Commissioners speak before Senate Industry and Environment committee (1800 GMT).

ECONOMY

Markit/ADACI releases July PMI manufacturing (0745 GMT).

Transport Ministry releases July car sales data (1600 GMT).

July state sector borrowing requirement data. (*) Italian state-controlled rail group Ferrovie dello Stato said on Tuesday it appointed Gianfranco Battisti as Chief Executive for the years 2018-2020.

COMPANIES

Bourse After Hours market closed.

ENEL

The Italian utility has called a halt to further acquisitions in Brazil for the time being as it gears up to complete asset sales of up to 1.5 billion euros ($1.8 billion) in the second half of the year. (*) Goldman Sachs cut its rating to ‘Neutral’.

GENERALI

The insurer said on Tuesday the board had approved new organisational structure and appointed Frederic De Courtois General Manager. (*) Generali said on Wednesday its net profit in the first half rose 8.8 percent to beat expectations, boosted by disposals.

(*) MEDIOBANCA

The Italian investment bank raised its dividend on Wednesday after posting record-breaking results and reaching a key operating target a year ahead of time.

The bank’s Chief Executive said the group would not revise nor update its plan’s targets despite seeing further growth next year. He added that the bank would press ahead with acquisitions and its intention to sell its stake in insurer Generali .

(*) POSTE ITALIANE

The group said on Tuesday it appointed Guido Maria Nola as Chief Financial Officer, starting from Aug. 3.

POSTE ITALIANE, UNICREDIT

Poste Italiane and UniCredit have teamed up in the consumer credit business, the post office and Italy’s biggest bank by assets said in a joint statement.

SALVATORE FERRAGAMO

Bosses of struggling Italian luxury goods maker Salvatore Ferragamo said there was “work to be done” and “things to be put back in the right direction” after the group posted sliding revenue and profit for the first half of the year.

The Florence-based group appointed appointed its general manager Micaela Le Divelec Lemmi, a former Gucci executive, as chief executive.

(*) TELECOM ITALIA

Former CEO of TIM Brasil Stefano De Angelis will leave the group after he turned down the job of Commercial Director but will remain in Tim Brasil’s board, Il Sole 24 Ore reported.

HSBC cut its target price to 0.75 euros per shares from 0.85 euros per shares, rating ‘Hold’.

(*) ENI

The Italian oil major expects to invest $1.795 billion in three offshore Mexican oil fields by 2040, according to a development plan approved by Mexico’s oil regulator on Tuesday.

(*) PIRELLI

The holding company of the tyremaker, Marco Polo International Italy, which holds 63.11 percent of the group, has started the procedure for a non-proportional breakup of its different shareholders: China National Chemical Corp (ChemChina), Marco Tronchetti Provera’s Camfin, and investment fund Long Term Investments, Corriere della Sera reported. The split, envisaged by the agreements reached ahead of the group’s return on the stock market, will see ChemChina with a 45.52 percent stake in Pirelli, Camfin with 11.35 percent and LTI with 6.24 percent, the report added.

(*) SNAM

The group lifted its 2018 net profit guidance to around 1 billion, from a previously expected 975 million euros, after posting half-year revenues of 1.242 billion euros.

(*) MONCLER

The luxury outerwear maker launched on Wednesday a share buy-back for up to 2 million shares, representing 0.8 percent of the current share capital.

SAIPEM

Italian oil contractor Saipem said it had been awarded a contract to lay pipes to transport gas to Serbia by Gazprom unit Gastrans.

FINCATIERI

Official speaks before Chamber of Deputies Defence and Industry committees (1300 GMT).

(*) MONDADORI

Chief Executive Ernesto Mauri said the group’s priority is to recoup operative profitability, speaking in an interview with Il Sole 24 Ore.

CAMPARI GROUP

Board meeting on H1 results, followed by conference call (1100 GMT).

FERRARI N.V.

Board meeting on H1 results, followed by conference call (1500 GMT).

INTESA SANPAOLO

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

Releases H1 results (0600 GMT), followed by conference call (1430 GMT).

GEOX

Geox said on Tuesday the net profit came in at 1.5 million euros in the first half, down from 8.4 million euros year ago.

SOSTRAVEL

Debuts on AIM segment (0630 GMT).

TENARIS

Board meeting on H1 results.

Board meetings on H1 results: AEDES, ASCOPIAVE , CULTI MILANO, ENERVIT, GRUPPO GAMENET followed by conference call, IL SOLE 24 ORE , IREN.

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

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