The following factors could affect Italian markets on Friday.
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 .
POLITICS
Italy said on Thursday all entities that have helped Russia fund its war on Ukraine by doing business with the country should be excluded from profiting from Ukraine's reconstruction.
Italy's two largest banks, Intesa San Paolo MIL:ISP and UniCredit MIL:UCG, still operate in Russia, though both have cut their exposure in the country.
(*) U.S. President Donald Trump said on Thursday the United States would supply weapons to Ukraine via NATO and that he would make a "major statement" on Russia on Monday.
ECONOMY
(*) U.S. President Donald Trump ramped up his tariff assault on Canada on Thursday, saying the U.S. would impose a 35% tariff on imports next month and planned to impose blanket tariffs of 15% or 20% on most other trading partners, including the EU.
Italy aims to exit the European Union's infringement procedure for its excessive budget deficit as early as next year, ahead of schedule, Economy Minister Giancarlo Giorgetti said on Thursday, suggesting the deficit may fall below 3% of output in 2025.
Bank of Italy releases quarterly 'Economic Bulletin' (1300 GMT).
DEBT
Treasury sells following BTP bonds: 3.25-3.5 billion euros 2.35% due Jan. 15, 2029; 3.0-3.5 billion euros 3.25% due July 15, 2032; 1.25-1.75 billion euros 3.85% due Oct. 1, 2040. Subscriptions close at 0900 GMT.
COMPANIES
(*) UNICREDIT MIL:UCG
The German government expects UniCredit to drop its bid for Commerzbank XETR:CBK and will not give up its stake in the takeover target, Finance Minister Lars Klingbeil told German press agency dpa.
According to Il Messaggero daily, CEO Andrea Orcel said in a board meeting that UniCredit would go ahead on Commerzbank, converting in shares more derivatives to raise its stake to 29%, and asked for a meeting with the German government to explain its strategy.
(*) UNICREDIT, BANCO BPM MIL:BAMI
Orcel said UniCredit would "almost certainly" drop its bid for Banco BPM, Il Messaggero reported on Friday.
BPER BANCA MIL:BPE, BANCA POPOLARE DI SONDRIO MIL:BPSO
Italy's fourth-largest lender has secured at least 35% of smaller rival Banca Popolare di Sondrio under its buyout offer, a stake it considers sufficient to secure control, the Italian bourse said on Thursday.
BPER's full voluntary takeover offer ends on Friday.
(*) MEDIOBANCA MIL:MB
Enasarco, the Italian pension fund for trade agents, has built a 2.52% stake in Mediobanca over the course of this year, the Financial Times reported on Friday.
The bank's board meets on Friday on Banca Monte dei Paschi di Siena MIL:BMPS's takeover bid.
BRUNELLO CUCINELLI MIL:BC
The Italian luxury group said on Thursday its revenues rose 10.7% at constant exchange rates in the first half of the year, slightly beating analysts forecasts.
LEONARDO MIL:LDO, IVECO MIL:IVG, ENAV MIL:ENAV
The Italian defence group made the lowest offer among companies bidding for industrial vehicle-maker Iveco's defence unit, offering around 1.6 billion euros ($1.87 billion) including debt, Bloomberg News reported on Thursday.
Leonardo, alongside Italian air traffic management company Enav, signed an agreement on Thursday with Ukraine's air traffic service to restore the war-torn country's air traffic management system.
FINCANTIERI MIL:FCT
The Italian shipbuilder said on Thursday that its Norwegian unit Vard had signed a 200-million-euro contract with US marine research organisation Inkfish for the construction of a ship. Delivery is expected by the second quarter of 2028.
AVIO MIL:AVIO
The Italian space manufacturer said on Thursday it had been officially designated as the launch service provider for Europe's Vega satellite launch rockets.
BANCA IFIS MIL:IF
Ends re-opening period of takeover offer on illimity Bank (ILTY.MI) ordinary shares.
FOS (FOS.MI)
FOS Holding SpA ends full takeover offer on FOS ordinary shares.
MARE ENGINEERING GROUP MIL:MARE
Ends full mandatory takeover offer on La Sia (LASIA.MI) ordinary shares.
DIARY
Infrastructure and Transport Minister Matteo Salvini in Shanghai (China).
Rome, Prime Minister Giorgia Meloni meets EU Economy commissioner Valdis Dombrovskis (0830 GMT).
Rome, "Conference on Ukraine's Recovery" ends (0800 GMT); on Friday. Expected attendees include ECB board member Piero Cipollone.
Milan, banking association ABI holds annual meeting with President Antonio Patuelli, Bank of Italy Governor Fabio Panetta, Economy Minister Giancarlo Giorgetti (0800 GMT).
((Milan newsroom, e-mail: ))
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