Italy – Factors to watch for November 25

The following factors could affect the Italian markets on Thursday.

Reuters has not verified the newspaper articles and cannot guarantee their accuracy. New items are indicated by

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POLITICS

Italy reported 85 coronavirus-related deaths on Wednesday compared to 83 the day before, the health ministry said, while the daily tally of new infections rose from 10,047 to 12,448.

ECONOMY

ISTAT publishes October non-EU foreign trade (09:00 GMT).

DEBT

The Treasury sells 1.75-2.25 billion euros in short-term BTP maturing on January 30, 2024 and 0.75-1.0 billion euros in BTPei bonds maturing on May 15, 2030. Closing of subscriptions at 1000 GMT.

The Treasury announces the sale of BTP and CCTeu bonds, the relative amounts to be auctioned on November 30.

COMPANIES

TIM (TLIT.MI)

The Italian government will discuss KKR’s plan to take over Telecom Italia when the US fund makes a binding proposal, Industry Minister Giancarlo Giorgetti said on Wednesday. Read more

More than 25% of the voting rights of Telecom Italia have changed hands since the American fund made a $ 12 billion approach this weekend to buy the Italian telephone group.

TIM shares gained 15.63% on Wednesday, sharply outperforming the Milan Stock Exchange, on market speculation on an increase in KKR’s supply to overcome the resistance of main shareholder Vivendi to the proposal.

An enlarged meeting of the board of auditors, which will also include the control and risk committee, will meet later on Thursday, Corriere della Sera reported, adding that it would compare the financial targets indicated by the group with the actual estimates. based on recent results. The figures.

TIM’s football rights deal with streaming service DAZN and its effects on the phone group’s revenue will be discussed at a board of auditors meeting later Thursday, Il Messaggero reported. The newspapers add that if auditors believe cash flow is insufficient for the coming months, they could point to the need for a third earnings warning.

Although US fund KKR has made a binding proposal for TIM, other large private equity groups are interested in the phone group, Il Sole 24 Ore reported. He added, citing indiscretions, that while CVC was still up and running and ready to consider a possible offer for TIM, Advent is no longer interested.

UNICREDIT (CRDI.MI)

Ahead of the unveiling of its industrial plan in early December, the lender is about to finalize the reorganization of its life insurance joint ventures with the French CNP Assurances (CNPP.PA), after which the bank will remain a minority partner . , reported Il Sole 24 Ore.

GENERALI (GASI.MI)

Italy’s leading insurer has entered into exclusive negotiations with Crédit Agricole (CAGR.PA) to acquire the health insurance division of French bank La Medicale, the two companies said in a joint statement on Wednesday. Read more

ENEL (ENEI.MI)

Europe’s largest utility will invest 170 billion euros ($ 191 billion) this decade to finance its green energy and grid activities as it advances plans to go carbon-free by 2040. The group will spend 70 billion euros on renewables to almost triple its capacity it directly owns 129 gigawatts (GW) by 2030. “We need to electrify as much as possible final consumption,” said Enel CEO Francesco Starace, during a presentation of the company’s business plan. Read more

ENI (ENI.MI)

U.S. investment firm BlackRock (BLK.N), Sixth Street and EIG Global Energy Partner are all interested in a minority stake in Eni’s power generation unit EniPower, Il Sole 24 Ore reported, adding that firm offers are expected in the first days of December. .

LEONARDO (LDOF.MI)

The Italian government is considering various options regarding the sale of Leonardo units, government sources said on Wednesday.

Rome wants to preserve the value of assets and jobs in the sector while pursuing European partnerships, the sources said after the meeting of economy, defense and industry ministers to discuss Leonardo’s intention to sell its OTO Melara and Wass units.

The government is considering a separate sale of the two units, with Wass being sold to Italian shipbuilder Fincantieri (FCT.MI) and OTO Melara to Franco-German KMW + Nexter Defense Systems (KNDS), Il Sole 24 Ore reported.

Political sources told Reuters that the government has yet to make a decision and is keen to avoid clashes between companies involved in the potential deals.

Initial Public Offering

Following the institutional placement, the Italian heating solutions group Ariston fixed the price of the ordinary shares at 10.25 euros per share, at the bottom of the initial price range, giving the company a market capitalization of 3 , 4 billion euros. Ariston is expected to start trading on the Milan Stock Exchange on November 26 with a free float of 23.77% of its shares

PRADA

Lorenzo Bertelli, the eldest son and designated heir of Prada CEO Patrizio Bertelli, has pledged to keep the family-controlled luxury fashion group independent when he takes the reins in a few years, he said. to Reuters. Read more

MEDIASET (MS.MI)

Extraordinary General Assembly (1000 GMT).

CERVE GROUP (CERV.MI)

Ordinary and extraordinary general meetings (1000 GMT).

TAKEOFF (TKOF.MI)

The clothing and accessories trading company debuts on Euronext Growth Milan.

PERSONAL DIARY

Rome, Prime Minister Mario Draghi meets French President Emmanuel Macron (17:30 GMT).

Rome, Chamber of Deputies President Roberto Fico attends the legislative meeting of the UP and the meetings of the Standing Committee of the Parliamentary Assembly (PACE) (14:00 GMT).

Rome, the Senate Budget Committee meets on the budget.

Rome, Senate finance and labor committees meet on tax decree (09:00 GMT and 16:30 GMT).

Rome, the president of the ARERA of the Energy Authority Stefano Besseghini (09:00 GMT) and the Minister of Industry Giancarlo Giorgetti (10:30 GMT) speak before the Parliamentary Committee for the Security of the Republic (COPASIR ) on energy security in the current phase of ecological transition.

Rome state lender Cassa Depositi e Prestiti (CDP) is holding a press conference to present the “2022-2024 Strategic Plan” with President Giovanni Gorno Tempini and CEO Dario Scannapieco (14:00 GMT).

Turin, 7th Italian-Russian seminar on “Innovation, engine of the economy” (0800 GMT). Turin Mayor Stefano Lo Russo, Intesa Sanpaolo (ISP.MI) President Gian Maria Gros-Pietro, Banca Intesa Russian Unit President Antonio Fallico, will deliver the opening speeches; session on “Innovation as a driving force for the development of economic and trade relations between Russia, Italy and the Piedmont region” with the secretary general of the Compagnia di San Paolo Alberto Anfossi, the head of the contracts department and prices from Gazprom Export, Sergey Komlev, Italian unit of Thales Alenia Space CEO Massimo Claudio Comparini, Avio (AVI.MI) CEO of Aero Riccardo Procacci, representing SACE Enrica Delgrosso; Antonio Fallico delivers the closing speech.

((Milan Press Room, +39 02 6612 9507, fax +39 02 801149, [email protected]))

For data and news from the Italian market, click on the codes in brackets:

20 biggest winners (in percentage) ………… (. PG.MI)

20 biggest losers (in percentage) …………. (. PL.MI)

FTSE IT allshare index (.FTITLMS)

Mib FTSE index …….. (.FTMIB)

FTSE Allstars Index … (.FTSTAR)

FTSE Mid Cap Index …. (.FTITMC)

Block transactions …….. (.BLK.MI)

Stories about Italy ……

For pan-European market data and news, click on the codes in brackets:

European Equity Speed ​​Guide ………

FTSEurofirst 300 index ………………………….. (. FTEU3)

DJ STOXX Index ……………………………………….. .. (. STOXX)

Top 10 sectors STOXX ……………………… (. PGL.STOXXS)

Top 10 sectors EUROSTOXX …………………. (. PGL.STOXXES)

Top 10 sectors Eurofirst 300 ………………. (. PGL.FTEU3S)

Top 25 European winners of pct ……………….. (. PG.PEUR)

Top 25 European losers for pc ……………….. (. PL.PEUR)

Main stock markets:

Dow Jones …………… (. DJI) Wall Street Report …..

Nikkei 225 …………. (. N225) Tokyo Report …………

FTSE 100 …………… (. FTSE) London Report ………

Xetra DAX …………. (. GDAXI) Stories from the Frankfurt market

CAC-40 …………….. (. FCHI) Stories of the Parisian market …

Global Indices ………………………………………… .. Reuters survey on the outlook for the world stock market ……. Schedule of IPOs in Western Europe …………………… …. European Asset Allocation ……………………. Reuters News at a Glance: Equities …… … Main Currency Report: …………………………… Register Now for FREE Access and unlimited at reuters.com Subscribe Our Standards: Thomson Reuters Trust Principles.

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