Italy - Factors to watch on June 26

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 .


POLITICS

Italy's economy minister said on Tuesday he was confident of reaching an agreement with the European Union over the country's budget, adding that deficit targets in a draft deal would reflect a "more than prudent" fiscal policy.


The European Central Bank on Tuesday gave a substantial green light to a bill by Italy's ruling League party which seeks to spell out that gold reserves held by the Bank of Italy belong to the state, and not the bank itself.


ECONOMY

ISTAT releases deficit/GDP ratio Q1 data (0800 GMT).


DEBT

Treasury sells 6-month BOT bills. Subscriptions close at 0900 GMT.


COMPANIES

(*) FIAT CHRYSLER AUTOMOBILES

The Italian-American carmaker could face penalties of up to 746 million euros if it fails to meet the European Union's emissions targets set for 2021, according to AlixPartners.


(*) CARIGE

A rescue plan for the ailing bank, funded by rival lenders alongside public and private investors, could involve state-backed lenders Mediocredito and Credito Sportivo as well as the FITD depositor protection fund, Il Sole 24 Ore newspaper reported on Wednesday.


(*) SALINI IMPREGILO

A national construction champion could be formed from the merger of companies including Salini Impregilo and troubled rival Astaldi, but the newly merged group might still need up 1.5 billion euros of fresh capital, Il Messaggero daily reported on Wednesday.


Italian state lender Cassa Depositi e Prestiti, which could become a shareholder in the event of such a merger, may decide on the proposal on July 6, MF daily said on Wednesday.


TELECOM ITALIA

Telecom Italia (TIM) is considering an option to merge its optic-fiber broadband unit, Flash Fiber, with rival Open Fiber as it looks for ways to create a national broadband network, two sources familiar with the matter said.

(*) Rivals Fastweb and Wind Tre announced late on Tuesday an agreement to deploy a fifth generation mobile broadband network in Italy.


ATLANTIA (*) Italy's 5-Star Movement asked to revoke Atlantia's motorway concession at a meeting with top ministers in Rome but League party opposed the decision, several Italian newspaper reported on Wednesday. The 5-Star's intention to move against Atlantia was reported on Tuesday by Reuters


IREN

Italian utility Iren on Tuesday made a non-binding offer to tie-up with regional peer Compagnia Valdostana delle Acque (CVA) to create one of Italy's biggest hydroelectric players, a source close to Iren said.


HERA

Moody's on Tuesday affirmed the Baa2 long-term issuer rating and senior unsecured ratings of Hera following the company's announcement that it will enter into a partnership with Ascopiave to develop a major operator in the gas and electricity supply business in the North-East of Italy. The outlook remains stable.


NETWEEK

Board meeting to approve capital increase and issuance of convertible bond.


Annual general meetings: BIOERA (1230 GMT), CALEIDO GROUP (0800 GMT), IMVEST (0900 GMT), KI GROUP (0800 GMT), ZUCCHI GROUP (1230 GMT).


DIARY

Rome, banking risk conference ends (0715 GMT); closing round-table discussion with ECB Senior Economist Anna Maria Agresti, banking association ABI Deputy Director General Gianfranco Torriero (1215 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>


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