Business
Italy - Factors to watch on June 25
Italy - Factors to watch on June 25
About this update from Snam S.p.a.
The following factors could affect Italian markets on Wednesday.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 .POLITICSPresident Donald Trump cast doubt on Tuesday over the United States' commitment to defending its NATO partners, suggesting there were "numerous" definitions to the cornerstone of the alliance's mutual defence pact.DEBTItaly's Treasury said on Tuesday it would offer new three-, seven-, and 10-year BTP bonds in the third quarter of 2025.Treasury sells 2.5-3.0 billion euros new 2.10% BTP Short bonds due Aug. 26, 2027; 2.5-3.0 billion euros new 1.10% BTPei bonds due Aug. 15, 2031. Subscriptions close at 0900 GMT.COMPANIESMONTE DEI PASCHI DI SIENA (MPS) MIL:BMPS The Italian bank on Wednesday said the European Central Bank had approved its proposed acquisition of rival Mediobanca MIL:MB, including under a scenario in which it gains a stake of less than 50% in the rival.The European Commission is looking into the Italian state's sale of an MPS stake in November to a group of Italian investors, two sources told Reuters on Tuesday, confirming a Financial Times report. Banca Akros, the broker that handled the sale, said it had complied with rules and practices governing such transactions, and duly processed all correctly submitted orders to buy.(*) MEDIOBANCA MIL:MBThe Italian bank said on Wednesday that insurer Vittoria Assicurazioni had sold its entire 0.27% shareholding in the lender.STELLANTIS MIL:STLAMEuropean car sales rose 1.9% year on year in May, data by the European Automobile Manufacturers Association (ACEA) showed on Wednesday. The Franco-Italian carmaker's sales in Europe fell by 3.0%, and its market share decreased to 15.2% from 15.9%.Jefferies on Wednesday raised the rating of the carmaker to 'buy' from 'hold' and raised the target price to 11.50 euros from 9 euros.(*) BANCA IFIS MIL:IF, ILLIMITY BANK (ILTY.MI)The Italian lender said on Wednesday that it had offered a cash premium of 5% per share if its tender offer for Illimity Bank's shares exceeds 90%.FINCANTIERI MIL:FCT, LEONARDO MIL:LDO The two companies' Orizzonte Sistemi Navali joint venture has signed a 5-and-a-half-year in-service support contract with the pan-European procurement agency OCCAR for FREMM frigates supplied to the Italian Navy, worth...