March 11, 2020 / 7:41 AM / 22 days ago

CORRECTED-Italy - Factors to watch on March 11

(Corrects to show Telefonica Brasil and TIM’s Brazil unit plan joint bid for Oi’s mobile business, not whole company) 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 .

ECONOMY

Shops and restaurants closed, hundreds of flights were cancelled and streets emptied across Italy on Tuesday, the first day of an unprecedented, nationwide lockdown imposed to slow Europe’s worst outbreak of coronavirus.

The European Union will do “everything necessary” from allowing state aid for companies to engineering an investment fund worth 25 billion euros to combat economic fallout of the coronavirus outbreak, the bloc’s national leaders decided on Tuesday.

Slovenia plans to close its border with Italy for non-commercial traffic to prevent the spread of coronavirus, Prime Minister Marjan Sarec said in a tweet on Tuesday. Earlier on Tuesday Austria said it was introducing border checks and would deny entry to people arriving from Italy.

ISTAT releases year 2019 Italian regional export data (1000 GMT).

DEBT

Treasury sells 6.5 billion euros new 12-month BOT bills. Subscriptions close at 1000 GMT.

COMPANIES (*) TELECOM ITALIA (TIM)

Italy’s biggest phone group said on Tuesday it was postponing its target to return to core profit growth this year after anticipating lower service revenues dogged by underperforming domestic business.

TIM’s Brazilian unit TIM Participações SA and Telefonica Brasil SA have expressed interest in negotiating a joint offer to buy the mobile business of bankrupt Brazilian carrier Grupo Oi SA, the two companies said on Tuesday in a securities filings.

Conference call on FY results (1300 GMT), followed by news conference with CEO Luigi Gubitosi (1600 GMT).

AUTOMOTIVE SECTOR

Further restrictions to tackle the spread of the coronavirus in Italy would mean stopping production in the north of the country and threatening the global automotive industry, brake maker Brembo’s Executive Deputy Chairman Matteo Tiraboschi said on Tuesday.

(*) BREMBO

Executive Deputy Chairman Matteo Tiraboschi told Il Sole 24 Ore that the brake maker keeps looking at M&A opportunities, adding that “maybe it is at times like this” that a company can find an opportunity.

SALVATORE FERRAGAMO

The Italian luxury group said first-quarter revenues could fall by up to one third due to the spreading coronavirus outbreak, and said it was impossible at this stage to evaluate the full impact of the health crisis.

(*) MAIRE TECNIMONT

The group said its units won contracts for a total amount of 220 million euros, mainly in Europe.

Board meeting on FY results, followed by conference call.

PIRELLI

The Italian tyremaker said on Tuesday it was cutting back production at its Settimo Torinese plant after one of its employees tested positive to coronavirus. It said it expected to progressively recover full production in the coming days, with no impact on supply to clients.

(*) FINCANTIERI

The Italian state-owned shipbuilder risks an EU antitrust veto against its bid for Chantiers de l’Atlantique because of the difficulty of addressing regulators’ concerns, people familiar with the matter said.

MEDIASET (*) The private broadcaster said on Wednesday it had limited visibility on its outlook this year due to the coronavirus crisis outbreak which forced the government to put the whole of Italy under lockdown for the coming month.

The group will hold a results conference call at 0730 GMT.

DIASORIN

Board meeting on FY results, followed by conference call.

ITALGAS

Board meeting on FY results, followed by conference call (afternoon).

GEOX

The shoe and clothes maker said it would temporarily close all its 150 retail shops in Italy due to the coronavirus crisis.

CATTOLICA ASSICURAZIONI

The insurer said on Tuesday that investigations and verifications on former Chief Executive Alberto Minali were underway, also with the help of independent legal consultants.

BRUNELLO CUCINELLI

Board meeting on FY results (preliminary results on Jan. 7), followed by conference call.

JUVENTUS, SS LAZIO, AS ROMA

The Italian football federation FIGC admitted on Tuesday that the Serie A season might not finish because of the coronavirus outbreak and put forward several alternatives which included a playoff system to decide the champions and relegation.

SAFILO

Board meeting on FY results (preliminary results on Jan. 29).

SALINI IMPREGILO

Board meeting on FY results.

DIARY

Rome, Senate and Chamber of Deputies vote budgetary slippage ahead of a law decree with economic measures to deal with the coronavirus emergency (1000 GMT).

Rome, Economy Minister Roberto Gualtieri speaks before Chamber of Deputies Budget committees on increase of 2020 deficit (1000 GMT).

Rome, Justice Minister Alfonso Bonafede speaks before Senate on prisons and clashes related to the coronavirus emergency (1600 GMT).

Rome, Cabinet meeting on economic measures to deal with the coronavirus emergency (0730 GMT).

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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