off-the-wire

Italy - Factors to watch on Feb. 3

Kitco Media
By Reuters
Published:
Updated:
Reuters
The following factors could affect Italian markets on Friday. 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 cabinet on Thursday gave a first green light to a contested plan allowing regions to obtain more powers, in a move critics say will benefit the wealthy north and deal a fresh blow to the poorly developed south. ECONOMY January services PMI S&P Global data (0845 GMT). ENERGY Italy's regulated consumer gas prices were down 34.2% in January compared to the month before, energy authority ARERA said on Thursday. COMPANIES (*) TELECOM ITALIA (TIM) After a meeting on Thursday over KKR's approach for TIM's fixed-line network, Italy's biggest phone group said its board would regroup on Feb. 24 to decide over the proposal, without providing details over its terms. State lender CDP is still planning to bid for TIM's landline grid after KKR made a multi-billion preliminary offer for the same asset, two sources close to the matter told Reuters. KKR wants the Italian state to be a sig­ni­fic­ant share­holder as part of its offer for TIM's fixed-line network, the Fin­an­cial Times reported citing two people with knowledge of the matter. FERRARI A procession of new models will continue to boost earnings at Ferrari, the Italian luxury sports car maker said on Thursday, as it promised "even stronger" results this year after a 16% jump in 2022 core earnings. CNH INDUSTRIAL The farming and construction machine maker said on Thursday its 2023 net sales of industrial activities would grow by 6-10%, after the group posted stronger-than-expected results in the last quarter of 2022. (*) PIRELLI Morgan Stanley raised its rating on the stock to 'overweight' from 'equal-weight'.


(*) SARAS Investor Angelo Moratti said he had not implemented any divestment strategy from the company in the so-called funded collar contract signed with BofA Securities Europe (BofASE) related to up to 47.6 million shares. BofASE, in total independence from Moratti, completed an accelerated book-building transaction selling Saras shares at 1.54 euros per share. (*) JUVENTUS , LAZIO Gleison Bremer scored the winner as Juventus beat Lazio 1-0 on Thursday to reach the Coppa Italia semi-finals. INTESA SANPAOLO Board meeting on FY results; followed by conference call with analysts (1400 GMT) and presentation to the press (1630 GMT). DIARY Berlin, Prime Minister Giorgia Meloni meets German Chancellor Olaf Scholz (1330 GMT); followed by joint statement (1530 GMT).


ASSIOM FOREX starts 29th congress online (0815 GMT); ends on Feb. 4 in presence in Milan. Rome, Aspen Institute Italia and The Aspen Institute France hold closed-door conference "Italy and France one year after the 'Quirinal Treaty'. The challenges of sovereignty and geopolitical challenges" (0830 GMT); expected attendees include Foreign Minister Antonio Tajani, Economy Minister Giancarlo Giorgetti, Industry Minister Adolfo Urso, Eni CEO Claudio Descalzi, Vivendi Chairman Arnaud De Puyfontaine, French President Emmanuel Macron. Milan, Cattolica University holds a book presentation "History of the Bank of Italy. Formation and evolution of a central bank, 1893-1943" (1330 GMT) attendees include Bank of Italy Governor Ignazio Visco, UniCredit Chairman Pier Carlo Padoan.

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...... 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:...............................
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