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Italy - Factors to watch on December 22
Italy - Factors to watch on December 22
About this update from Saipem 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 .ECONOMYISTAT releases November producer prices data (0900 GMT).DEBTItaly's medium- to long-term gross funding needs are seen at 350 billion to 365 billion euros ($427.96 billion) in 2026, the Treasury said on Friday, down from 380 billion euros of medium- to long-term securities issued this year.Treasury announces sale of 6-month BOT bills and BTP Short, with relative amounts to be auctioned on Dec. 29.COMPANIESTELECOM ITALIA (TIM) MIL:TIT(*) The board proposed to shareholders the conversion of savings shares into ordinary shares, the company said late on Sunday, at a ratio of one ordinary share for each savings share, plus a cash adjustment of 0.12 euros per savings share.It added that should savings shares remain after the voluntary conversion period, they would be compulsorily converted at the same one-for-one ratio but with a reduced cash adjustment of 0.04 euros per share. The board also proposed a reduction of the company's share capital to 6 billion euros.The Italian former phone monopoly said Italy's highest court had ruled in its favour in a long-running concession fee case, confirming the group is owed just over 1 billion euros ($1.2 bln) to end a dispute that has dragged on for over two decades.STELLANTIS MIL:STLAMThe new package of measures for the auto industry proposed earlier this week by the European Union puts at risk manufacturers' investments in the region, the automaker CEO Antonio Filosa told the Financial Times in an interview on Saturday.SAIPEM MIL:SPMThe Italian energy contractor said on Sunday it had been awarded an offshore engineering, procurement, construction and installation (EPCI) contract by QatarEnergy LNG in partnership with China's Offshore Oil Engineering Co (COOEC) SSE:600583.POSTE ITALIANE MIL:PSTItaly's Treasury has agreed to sell PagoPA, which handles digital payments to public administrations, to the state mint and to the state-backed postal group for up to 500 million euros ($586 million), the mint said on Friday.FINCANTIERI MIL:FCT, INTERPUMP MIL:IPThe Italian shipbuilder joins Italy's blue-chip stock index FTSE Mib on Monday, replacing Interpump.(*) JUVENTUS MIL:JUVEJuventus kep...