Italy - Factors to watch on September 23
The following factors could affect Italian markets on Monday.
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.
POLITICS
Companies such as banks, insurers and energy groups that made extra profits over the past 12-24 months could be subject to a levy of 1% to 2% to help strained public finances, Corriere della Sera reported on Sunday.
Forza Italia leader and deputy prime minister Antonio Tajani said on X that his party was opposed to a tax on extra profits which would damage local banks and create uncertainty on markets. He said that talks should be held with banks to agree alternative ways of helping public finances.
A cabinet meeting on Saturday approved 20 million euros in emergency funds for the areas in the northern region of Emilia-Romagna hit by devastating floods last week.
ECONOMY
Italy will probably balance its primary budget this year, excluding interest payments on government debt, the economy minister said on Friday, as Rome prepares a medium-term fiscal plan for approval by the European Commission.
Rising uncertainty, "symptoms of weakness" in the services sector and an 0.6% year-on-year increase in gross domestic product(GDP) in the third quarter of the year make it harder for GDP to rise by 1% in 2024, a report by Italy's retail association Confcommercio said on Friday.
Italian state lender CDP will present on Sept. 30, behind closed doors, a so-called umbrella fund, financed by the state and private groups aimed at investing in small and medium enterprises listed on the Bourse, Milano Finanza reported on Saturday, adding it will start operating by the end of the year.
DEBT
Treasury announces sale of 6-month BOT bills, with relative amounts to be auctioned on Sept. 26.
COMPANIES
FTSE share indexes revision effective as of Monday.
TELECOM ITALIA TLIT.MI
A consortium led by Italy's Treasury is finalising a bid for Telecom Italia's submarine cable unit Sparkle, La Repubblica reported on Sunday. However, the bid, which is expected to be slightly higher than a previous 750 million euros offer, will be not submitted by Sept. 26 when Telecom Italia is due to hold a board meeting, the paper added.
UNICREDIT CRDI.MI
Germany will not sell any more shares in Commerzbank CBKG.DE for the time being and the bank's strategy is "geared towards independence," the country's Finance Agency said on Friday, in the clearest sign yet that the government doesn't currently favour a takeover from the Italian lender.
(*) Commerzbank's management has warned the German government that a potential multibillion euro merger with Italy's second-largest is a threat to businesses that make up the backbone of Europe's biggest economy, the Financial Times reported on Monday.
STELLANTIS STLAM.MI, FERRARI RACE.MI
An Italian judge has seized money and assets worth almost 75 million euros ($84 million) from five people, including Stellantis and Ferrari Chair John Elkann, as part of an investigation into alleged tax fraud, prosecutors said on Friday.
The investigation, opened earlier this year, alleges Elkann and his siblings Lapo and Ginevra did not pay taxes in Italy on assets they inherited after the death in 2019 of their grandmother Marella Caracciolo, the wife of late Fiat boss Gianni Agnelli.
BANCA MEDIOLANUM BMED.MI
Fininvest, the Berlusconi family holding company, is expected to restore ties with the Doris family in a shareholding pact which would fully control the asset manager's governance, after a decision by a EU court last week which allows Fininvest its full 30% shareholding in the bank, Corriere della Sera reported on Saturday, citing financial sources.
(*) AMPLIFON AMPF.MI
The hearing aid company considers both organic growth and M&A for growth on international markets and "absolute priority" to the United States, Chief Executive Enrico Vita was quoted as saying by Corriere della Sera's weekly publication L'Economia
JUVENTUS FC JUVE.MI
Napoli showed unexpected courage and defended well, Juventus coach Thiago Motta said after the visitors held his side to another goalless draw in Serie A on Saturday.
SS LAZIO LAZI.MI
The club posted a full year net profit of 38.5 million euros on Friday.
The team lost 2-1 to Fiorentina in Serie A on Sunday.
DOVALUE DOVA.MI
Reverse stock split on ordinary shares.
DIARY
New York, Prime Minister Giorgia Meloni and Foreign Minister Antonio Tajani attend the U.N.'s 79th General Meeting (until Sept. 24).
New York, Prime Minister Giorgia Meloni attends Atlantic Council 'Global Citizen Awards' ceremony in New York.
New York, G7 energy enlarged meeting.
Milan, Edison EDNn.MI holds news conference to present "Risolve" with Edison energy unit CEO Massimo Quaglini (0930 GMT).
Milan, women's 2025 Spring/Summer fashion shows end.
Ravenna, tax revenue agency Director Ernesto Maria Ruffini presents book "Uguali per Costituzione. Storia di un'utopia incompiuta dal 1948 ad oggi" with President Sergio Mattarella, banking association ABI President Antonio Patuelli (1630 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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