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Italy - Factors to watch on April 20
Italy - Factors to watch on April 20
About this update from Prysmian 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 .DEBTMorningstar DBRS on Friday confirmed Italy's rating at A (Low) with a stable trend.ECONOMYThe Italian economy posted modest growth in the first quarter, supported by the Winter Olympics in February which drew a major influx of tourists, the country's central bank said on Friday.COMPANIESUNICREDIT MIL:UCG(*) The Italian bank on Monday will outline "an approach to value creation" for Germany's Commerzbank (CBK.DE), the Italian bank said as it believes the German lender is insufficiently prepared for future challenges and overly focused on short-term delivery.Italy is concerned UniCredit could offer to move its head office to Germany to ease Berlin's opposition to a takeover of Commerzbank, three sources familiar with the matter said on Friday, despite the Italian bank ruling that out.MONTE DEI PASCHI DI SIENA MIL:BMPSBoard members from the slate proposed by the outgoing board could vote in favour of Luigi Lovaglio's new term as CEO after their own candidate was defeated, Il Messaggero reported on Sunday. In return, they would expect the chairmanship to go to the outgoing board's candidate Nicola Maione, the daily added.Negotiations on the issue are ongoing, according to Sunday's Corriere della Sera. Lovaglio's backers are set on installing their own candidate Cesare Bisoni as chair, but could offer a deputy chair position to their opponents, the newspaper said.Corriere della Sera and la Repubblica both said in their Sunday editions that a board meeting to vote on the chair and on the powers of the CEO is expected on Thursday.MPS' top shareholder Delfin took part in last week's vote on the renewal of the board, backing Lovaglio, after the European Central Bank signalled it would have been "unconceivable" for the bank's largest investor to abstain from the vote, La Stampa reported on Sunday.TERNA MIL:TRNBoard member Stefano Cappiello will resign, effective on May 5, as he has been designated to sit on the board of Eni MIL:ENI, the Italian grid operator said on Friday.ENI MIL:ENI, TERNAGiuseppina Di Foggia, nominated by the government as chair of Eni, is unwilling to give up a 7.3-million-euro severance package as outgoing...