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Italy - Factors to watch on Aug. 4
Italy - Factors to watch on Aug. 4
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 .POLITICSEurope's top court on Friday questioned the legitimacy of the "safe countries" list Italy uses to send migrants to Albania and fast-track their asylum claims, in a fresh blow to a key plank of the government's migration policy.ECONOMYItaly posted a state sector budget surplus of 14.2 billion euros in July, up from a surplus of 2.3 billion euros in the same month last year, the Economy Ministry said on Friday.July services PMI HCOB data (0745 GMT).Milan Stock Exchange After Hours market closed.COMPANIESMEDIOBANCA MIL:MB, BANCA GENERALI MIL:BGN Italy's competition authority has decided not to open an investigation into Mediobanca's bid for Banca Generali, Mediobanca said on Friday. It added that the European Commission decided not to start a formal investigation phase in relation to the review of foreign subsidies. UNICREDIT MIL:UCG, MEDIOBANCA, BANCA GENERALI UniCredit still holds 1.9% of Mediobanca, both directly and on behalf of clients, with an option of rising to 4%, Milano Finanza reported on Saturday, adding that UniCredit may now back Mediobanca's bid for Banca Generali, after previously indicating it would oppose it.BANKSItaly should not "frighten foreign investors or the markets," Deputy Prime Minister and Forza Italia party leader Antonio Tajani said on Saturday, commenting a proposal by government ally and fellow deputy premier Matteo Salvini to introduce a "voluntary" levy on banks. "Banks must play their part but they should not be labelled public enemy number one," Tajani said. (*) BANCO DESIO MIL:BDB The regional lender is looking to buy more branches and small operators, including banks, that fit in terms "of size and business model," CEO Alessandro Decio said in an interview with La Repubblica's Monday supplement Affari & Finanza. He said his bank is also focused on organic growth, especially in the wealth management, salary-backed loans and small businesses sectors.(*) SAIPEM MIL:SPM The Italian energy contractor was among the winners of contracts awarded by Japanese oil and gas explorer Inpex Corp for a $20 billion Abadi liquefied natural gas project in the Masela block in Indonesia. STELLANTIS M...