May 2, 2019 / 4:01 AM / 22 days ago

Italy - Factors to watch on May 2

MILAN, May 2(Reuters) - The following factors could affect Italian markets on Thursday.

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

The Italian cabinet approves the nomination of Fabio Panetta as the Bank of Italy’s new deputy governor. The ruling League promises to put forward a reform plan for the central bank in the coming days.

ECONOMY

IHS Markit releases April manufacturing PMI (0745 GMT).

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

April state sector borrowing requirement data.

INTESA SANPAOLO

Italy’s biggest retail bank does not see any possible benefit from a merger with another European bank, Chief Executive Carlo Messina said on Tuesday.

(*) Berenberg cut bank’s rating to “sell” from “hold” and price target to 1.85 euros from 2.20 euros.

FIAT CHRYSLER

Mizuho Bank and Development Bank of Japan will each buy about $314 million of preferred stocks in CK Holdings, to help its unit Calsonic Kansei proceed with the planned purchase of Fiat Chrysler’s car parts unit Magneti Marelli, Nikkei reported on Tuesday.

(*) Fiat Chrysler on Wednesday reported a fall in U.S. auto sales for April, as rising prices, higher interest rates and reduced incentives kept away buyers.

(*) TELECOM ITALIA - INWIT

Spanish telecoms mast group Cellnex and Italian infrastructure fund F2i are interested in possibly buying a minority stake in the company that will be created by the merger of INWIT and Vodafone’s towers asset, newspaper La Repubblica said on Wednesday. F2i’s interest in the to-be-merged tower group was also reported by Il Sole 24 Ore.

(*) TELECOM ITALIA (TIM) - GEDI

Telecom Italia’s board will discuss on May 6 a binding offer for digital multiplexes of its Persidera unit submitted by infrastructure fund F2i on Tuesday, la Repubblica said on Wednesday. Persidera is a broadcasting company, 70 percent-owned by TIM and 30 percent-owned by publisher GEDI.

LEONARDO

Norges Bank holds a 2.742 percent stake in the defense group, Italian regulator Consob said in a filing.

ENI

Eni says it has signed an exploration and production sharing agreement for Block 1 offshore Bahrain.

(*) Algeria’s state energy company Sonatrach wants to develop its partnerships with foreign firms to boost output and exports, its new chief executive said on Wednesday.

TENARIS

Board meeting on Q1 results.

IL SOLE 24 ORE

Shareholders approved on Tuesday a legal action against the Italian publisher’s former Chairman Benito Benedini and former Chief Executive Donatella Treu and against former Il Sole 24 Ore daily newspaper’s Director Roberto Napoletano, the company said.

RCS MEDIAGROUP

Annual general meeting (0830 GMT).

ALITALIA

State-appointed commissioners running Alitalia are expected to reply on Thursday to a request by Italy’s state railway Ferrovie dello Stato to extend a deadline for submitting a rescue plan for the airline, a source familiar with the matter said.

ESSILORLUXOTTICA - Proxy advisers ISS and Glass Lewis recommended voting in favour of adding two further independent administrators to the eyewear maker’s board at the May 16 shareholder meeting, in order to solve the current government stalemate. The proposals to expand the board was made by some funds and minority shareholders but rejected by the company’s board.

STEFANEL

An Italian court extended till June 14 the term for the clothing retailer to file a creditor protection scheme proposal.

ZIGNAGO VETRO

Board meeting on Q1 results (0730 GMT) and annual general meeting (0900 GMT).

TREVI FINANZIARIA

Bond holders’ meeting (0900 GMT).

OLIDATA

Extraordinary shareholders’ meeting (0900 GMT).

COIMA RES

Board meeting on Q1 results.

Annual general meetings: AXELERO (0900 GMT), CROWDFUNDME (0730 GMT), DIGITOUCH (0800 GMT).

DIARY

Rome, Bank of Italy governor Visco to attend event at Swiss embassy with Swiss central banker (1600 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:............................... (Reporting By Viviana Venturi)

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