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Italy - Factors to watch on April 13
Italy - Factors to watch on April 13
About this update from Terna S.p.a.
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 .ECONOMYItalian Economy Minister Giancarlo Giorgetti said in an interview on state television on Saturday that a recession is likely unless energy prices come down quickly.(*) DEBTItaly's economic vulnerabilities are being laid bare by war in the Middle East, with Rome's heavy reliance on imported energy and the threat of rising government and fiscal instability ahead of 2027 elections taking the shine off its bonds.ENERGYClaudio Descalzi, the CEO of Italian energy group Eni MIL:ENI said on Sunday that the EU should reconsider its plans to progressively ban imports of Russian gas from the start of 2027.In an address to an event organised by the co-ruling League party, Descalzi was quoted by Italian news agencies as saying it was unclear how the bloc could replace the gas from Russia, which provides vital flexibility to the output of power stations.Descalzi said that in terms of the disruption of energy supplies, the conflict in Iran is "the most important event of the last 40 years."COMPANIESUNICREDIT MIL:UCGThe Italian bank has no plans to liquidate its Russian business or return its banking licence held by its local subsidiary, which the Italian lender has held onto during the Ukraine conflict, a spokesperson said on Friday.PIRELLI MIL:PIRCItaly has imposed several curbs on China's Sinochem to try to resolve a governance spat in Pirelli, the tyre maker said on Saturday, confirming an earlier Reuters report.The curbs will remain in force as long as Sinochem retains a stake in Pirelli above 9.99%, the company said in a statement, in a sign that Rome wants Sinochem to cut its 34% shareholding.BANCO BPM MIL:BAMIThe northern Italian bank is potentially interested in buying the Banca del Mezzogiorno in a move that would strengthen its presence in southern regions, daily Corriere della Sera wrote on Sunday, citing unnamed sources.TELECOM ITALIA (TIM) MIL:TITThe European Union approved the sale of Telecom Italia's submarine cable business Sparkle to a consortium led by the Italian Treasury, according to a European competition authority document released on Friday.The 700-million-euro deal still requires clearance from the U.S. a...