Italy - Factors to watch on July 11

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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). DEBTTreasury 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:BPSOItaly'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,...

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