Italy - Factors to watch on Feb. 24

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 . DEBT Treasury sells BTP and CCTeu bonds. Subscriptions close at 1000 GMT. COMPANIES ENI Shares in the Italian energy group closed down by 5.4% on Thursday after it reported record profits last year, raised its 2023 dividend by 7% and announced a shares buy-back worth 2.2 billion euros ($2.33 billion). CEO Claudio Descalzi said he was not surprised by the negative market reaction, telling journalists that investors needed time to digest the group's new remuneration policy and 2023-2026 strategy, also presented on Thursday.


BANCA MONTE DEI PASCHI DI SIENA (MPS) The state-owned Italian lender took what bankers described as an important step on its long and arduous comeback trail on Thursday as it printed a twice-subscribed 750-million-euro three-year non-call two senior preferred, IFR reported. The deal was Monte's first public issuance since December 2020, when it sold a when it sold a 750-million-euro long five-year senior preferred.


TELECOM ITALIA (TIM) Board meeting to assess KKR's non-binding offer on fixed-line network 'NetCo'. (*) BANCA POPOLARE DI SONDRIO Associazione Insieme per la Popolare, which brings together small shareholders, is ready to increase its stake in the regional Italian bank up to 4%, from the current 3.3-3.4%, MF reported on Friday. The Associazione has expressed its intention ahead of the April 29 shareholders' meeting where the election of a third of the bank's board members, including the chief executive officer, is on the agenda, the newspaper noted.


(*) MEDIOBANCA , GENERALI Delfin, the holding company of the Del Vecchio family and main shareholder in Mediobanca, will remain a long-term investor in the bank, Delfin Chairman Francesco Milleri said in an interview with Corriere della Sera on Friday.


Milleri said that Delfin's investments in Mediobanca and insurer Generali, where it is the second-largest shareholder, have turned out to be "excellent, with an increase in value and generous dividends". SAIPEM The Italian energy contractor said on Thursday it renewed collaboration agreements with Egyptian partner companies Petrojet and Enppi, with which it operates in North Africa and the Middle East. Saipem also entered into a commercial collaboration agreement with Norway's Seaway 7 to jointly identify, bid and execute fixed offshore wind projects, the two companies said in a joint statement. (*) ANIMA HOLDING The Italian asset manager is ready to acquire an 80% stake in Castello, an alternative real estate asset management company whose main shareholder is the U.S. fund Oaktree, in a deal worth 70-80 million euros, Il Sole 24 Ore reported on Friday. DOVALUE The bad loans manager reported on Thursday that FY EBITDA rose to 201.7 million euros versus 200.9 million euros one year ago, net profit was broadly stable at 50.6 million euros, and FY revenue was up to 558.2 million euros from 572.1 million euros.


Conference call on FY results (Friday 0930 GMT). LEONARDO European countries have become far more ready to invest in defence and security in the wake of the war in Ukraine, the CEO of the Italian defence and aerospace group, Alessandro Profumo, said on Thursday in an interview with the Atlantic Council think tank. AUTOGRILL Swiss duty-free retailer Dufry said on Thursday it had filed a document related to its takeover offer for the catering group to Italian market regulator CONSOB. (*) Autogrill said on Thursday that its board had appointed Lazard as financial advisor for the deal while Rotschild & Co. will act as advisor for independent directors.


DEA CAPITAL NOVA Srl ends full voluntary takeover offer on Dea Capital ordinary shares. JUVENTUS , LAZIO Juventus reached the last 16 of Europa League after a 3-0 away win against France's Nantes, while Lazio advanced to the last 16 of the Conference League with an away 0-0 draw against Romanian club Cluj.


DIARY Industry Minister Adolfo Urso speaks via video conference at round-table discussion "Sustainable environmental transition in the Venetian territory" (0930 GMT). Rome, Foreign Minister and Deputy Prime Minister Antonio Tajani attends ENAC Scholarship Award Ceremony "Tribute to Antonio Catricala" (0900 GMT). Rome, Industry Minister Adolfo Urso attends presentation of new postage stamps celebrating the 60th anniversary of the Order of Journalists (0900 GMT). Rome, Industry Minister Adolfo Urso delivers closing address at conference "Chambers of Commerce on the Sea Economy meeting" (1130 GMT).

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