Italy – Factors to watch on March 30


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 .

GENERAL

Italy’s government will “inevitably” extend beyond April 3 the containment measures it had approved to stem the coronavirus outbreak in the country, the regional affairs minister said on Sunday.

The death toll from an outbreak of coronavirus in Italy climbed by 756 to 10,779, the Civil Protection Agency said on Sunday, the second successive fall in the daily rate. The total number of confirmed cases in Italy rose on Sunday to 97,689 from a previous 92,472, the lowest daily rise in new cases since Wednesday.

ECONOMY

Italian Prime Minister Giuseppe Conte has urged the European Union to launch a “recovery bond” to help fund the response to the coronavirus outbreak, saying failure to tackle the emergency would be a “tragic mistake” for the bloc. In an interview with Italian daily Il Sole 24 Ore on Saturday, Conte said a common debt instrument was needed to spearhead a European recovery and reinvestment plan to support the economy of the whole area.

Germany will have to soon clear up its position towards the possibility of Europe’s use of joint debt issuance – “a necessary instrument”- to face the economic outfalls of the coronavirus emergency, the President of the European Parliament, David Sassoli, told daily Il Messaggero on Sunday, adding that member states should not be “selfish”. He added that battle against the virus outbreak was still long and Europe would need “loads of money”.

The European Commission cannot “sign up to the helicopter money party”, EU Economics Commissioner Paolo Gentiloni told La Stampa on Sunday. He added that another instrument that the EU could use to tackle the coronavirus emergency could be “strengthening the European Investment Bank”, without giving further details.

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BANKS

The European Central Bank told euro zone banks on Friday to skip dividend payments and share buybacks until October at the earliest and use their profits to support the economy as it is hit by the coronavirus pandemic.

The Bank of Italy on Friday told banks under its direct oversight they should not pay or commit to pay dividends on 2019 and 2020 results until at least Oct. 1.

UNICREDIT

Italy’s biggest bank on Sunday said it was putting on hold plans to pay dividends on 2019 results and buy back shares to meet regulatory calls to preserve capital to support the economy against coronavirus.

UBI BANCA

The lender is considering every option regarding its dividend on 2019 results, la Repubblica reported on Saturday.

INTESA SANPAOLO

Italy’s biggest retail bank said on Friday its board would discuss on March 31 a recommendation from the European Central Bank to freeze dividend payments.

MONTE DEI PASCHI DI SIENA

Fitch Ratings placed the bank’s mortgage covered bonds on Rating Watch Negative.

CNH INDUSTRIAL

The industrial vehicle maker may need more time than initially planned to complete the spin-off and separate listing of its truck, bus and powertrain businesses, according to an internal letter sent by its new chief executive.

CNH has temporarily appointed Brad Crews as general manager for North America to coordinate all regional efforts during the coronavirus situation.

ATLANTIA

Toll payment unit Telepass has appointed Ezio Bassi as chairman and confirmed CEO Gabriele Benedetto, it said on Friday.

The group has restarted talks with Italy’s transport ministry over its motorway concession, daily Il Messaggero reported on Saturday, adding the ministry had asked Atlantia for a substantial one-off payment and the confirmation of the planned investments. Il Messaggero also reported that Australia’s Macquarie Group is considering taking a stake in the Italian group.

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LEONARDO

The defence group said on Saturday it was providing resources and people to support Italian institutions’ efforts to contain the coronavirus pandemic.

Leonardo added it would support Italy’s Civil Protection for the transportation of medical materials, making two C-27Js Transport Aircraft and one ATR 72 available as well as its pilots and three helicopters. The group has also launched the production of valves to transform snorkelling masks into pre-intensive care respirators.

TERNA

Italy’s power grid is not facing problems during the coronavirus emergency and there is no risk of a blackout, Giacomo Donnini, head of Development and Strategy for the group which manages the national grid, told daily la Repubblica in an interview on Sunday.

JUVENTUS

Juventus players and coach Maurizio Sarri have reached an agreement over a wage reduction that will save the Italian champions 90 million euros ($100.26 million), the Serie A club announced on Saturday.

JUVENTUS, AS ROMA, SS LAZIO

Italy’s sports minister said he will propose extending the ban on all competitions to the whole of April in an effort to contain the coronavirus.

ALITALIA

The state-appointed administrator told investors interested in Alitalia that the sale of the loss-making carrier is suspended, Il Sole 24 Ore reported on Saturday.

GEOX

The shoemaker forecast a 20% yearly drop in first-quarter direct sales following the temporary closure of directly-owned shops in Italy, Europe and North America due to coronavirus.

FIERA MILANO

The Milan trade fair group said on Friday it would update the market in the coming days on the impact on 2020 earnings of the postponement to April 2021 of this year’s Milan design fair due to take place in June.

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MEDIOBANCA

The Italian merchant bank said on Friday it had completed on March 25 a buyback programme and it now owned Treasury shares equivalent to 3% of its capital which it could use either to support external growth through transactions or for employee remuneration programmes.

SAIPEM

Moody’s Investors Service has cut to “negative” from “stable” the outlook on the Italian oil services group’s ‘Ba1’ corporate family ratings and on the ‘Ba1’ rating for the notes issued by Saipem Finance International.

SNAM

The Italian gas grid operator said on Friday it had postponed its annual general meeting to June 18 due to the coronavirus emergency.

A2A

Board meeting to call annual general meeting.

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:………………………….



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