Italy – Factors to watch on June 29

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 .

COMPANIES

BORSA ITALIANA

Italy’s ruling parties plan to increase the powers available to market regulator Consob to shield the country’s stock exchange, according to draft legislation seen by Reuters

MONTE DEI PASCHI DI SIENA

The board of Monte dei Paschi di Siena is expected to meet on Monday to approve a plan to reduce its burden of bad loans, a source familiar with the matter said, without giving further details.

Daily Il Messaggero reported that under the plan the Tuscan lender would offload 8.9-9.0 billion euros in gross impaired loans at net value of 4.2-4.3 billion euros.

CATTOLICA

Shareholders of the Verona-based insurer on Saturday approved a capital hike of up to 500 million euros.

Cattolica’s board will meet on Monday to set the date of a new shareholder meeting, possibly as early as July 28, to approve its transformation into a joint stock company, a source close to the matter told Reuters.

INTESA SANPAOLO, UBI BANCA

Italy’s largest commercial bank expects synergies from its proposed takeover of UBI Banca would be only slightly less if it cannot fully incorporate its Italian rival, and would not affect a 2022 profit goal of at least 5 billion euros.

INTESA SANPAOLO

International infrastructure operator Aleatica said on Friday it agreed to buy a controlling stake in Italian toll road operator Brebemi from Intesa Sanpaolo. The deal values Brebemi around 2 billion euros, a source close to the matter said. Banca IMI advised Intesa on the deal while Goldman Sachs was the financial adviser for Aleatica.

GENERALI

Italy’s largest insurer approached Brightsphere Investment Group Inc about a possible acquisition of the U.S. asset management firm, people familiar with the matter said on Friday.

ATLANTIA

Italy’s Prime Minister Giuseppe Conte may use the whole month of July to negotiate a deal with the infrastructure group over its motorway concession, Il Messaggero reported on Saturday.

(*) ENEL

The transition towards renewable energy and a green economy will be increasingly less dependent on energy prices, Enel’s CEO Francesco Starace said in an interview with La Repubblica – Affari & Finanza. He added Italy could build another LNG terminal, despite a constantly decreasing demand for natural gas, to be fully autonomous in its gas supply.

AUTOMOTIVE SECTOR

Carbon dioxide emissions from new cars in Europe rose for a third year running in 2019, provisional data from the European Union’s environment agency (EEA) showed on Friday, with carmakers further lagging the bloc’s upcoming climate goals.

(*) WEBUILD, ASTALDI, TREVI FINANZIARIA

Engineering group Trevi could join Webuild and Astaldi to create Italy’s national champion in the building industry, Webuild Chairman Donato Iacovone told Il Corriere della Sera’s L’Economia insert. “Trevi is one of the options,” he said, adding that Webuild aimed at making concrete steps by this autumn to complete a planned tie-up with Astaldi.

BANCA IFIS

Presents new brand “Banca Ifis On Air” with Vice Chairman Ernesto Fuerstenberg Fassio, CEO Luciano Colombini (0900 GMT).

NEXI

The Italian payment group holds its extraordinary shareholders’ meeting (1300 GMT).

(*) EDISON

Italian energy company Edison said on Monday it had scrapped the sale of a Norwegian subsidiary from a deal with Energean and amended some economic terms of their agreement.

(*) A2A

An Italian administrative court on Friday suspended a tie-up between Italian regional utility A2A and unlisted local peer Ambiente Energia Brianza (AEB), Il Fatto quotidiano daily reported on Monday.

(*) CAMPARI

Citigroup raised its price target on the stock to 7 euros from 6.75 euros.

(*) JUVENTUS

Cristiano Ronaldo scored a penalty and created goals for Paulo Dybala and Gonzalo Higuain as Juventus hammered 10-man Lecce 4-0 on Friday, confirming their lead over Lazio at the top of Serie A.

(*) LAZIO

Serie A leading scorer Ciro Immobile converted a contentious second-half penalty to set second-placed Lazio on the way to a 2-1 comeback win over Fiorentina that kept them four points behind leaders Juventus on Saturday.

(*) AS ROMA

AC Milan scored twice in the last quarter of an hour to sink AS Roma 2-0 in a slow-paced Serie A match on Sunday as both teams struggled in the San Siro heat.

(*) ALITALIA (unlisted)

Rome will announce on Monday a final plan to re-launch the ailing carrier, daily La Stampa said, quoting government sources, without giving further details.

BANCA CARIGE (shares suspended)

The Italian regional lender said on Friday its vicepresident Angelo Barbarulo left the bank for “personal reasons”.

DIARY

Genoa, press conference on economic support for businesses and families during the coronavirus emergency. With Liguria region President Giovanni Toti and Banca Carige CEO Francesco Guido. (0900 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:………………………….