Business
Italy - Factors to watch on June 4
Italy - Factors to watch on June 4
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 .POLITICSFrench President Emmanuel Macron and Italian Prime Minister Giorgia Meloni vowed to work jointly for a stronger Europe as they met on Tuesday following bilateral tensions over Ukraine, trade, and relations with the United States.ECONOMYMay services PMI data (0745 GMT).(*) Wednesday is the deadline for U.S. trading partners to submit their "best offer" to avoid punishing import tax rates, the same day that U.S. duties on imported steel and aluminium kick in.DEBTItaly's Treasury said on Tuesday it had mandated banks to sell a new syndicated dual-tranche issue of a new 5-year BTP bond due October 1, 2030 and a top-up of a 30-yr green BTP bond due October 30, 2037.The transaction will be launched in the near future subject to market conditions, the Treasury added.COMPANIESUNICREDIT MIL:UCG, BANCO BPM MIL:BAMIAn Italian regional administrative court holds a hearing on UniCredit's appeal against government-imposed 'golden power' terms on its bid for Banco BPM.MEDIOBANCA MIL:MB, BANCA GENERALI MIL:BGN, GENERALI MIL:GFrancesco Gaetano Caltagirone, one of the main investors in Mediobanca, is urging its board to delay a June 16 shareholder vote on the proposed acquisition of private bank Banca Generali, his holding company VM 2006 said on Tuesday. (*) MONTE DEI PASCHI MIL:BMPS, MEDIOBANCA, GENERALIThe Tuscan bank's bid for Mediobanca makes no industrial sense, Philippe Donnet, the chief executive of insurer Generali, told daily la Repubblica on Wednesday, adding that the bid was aimed at taking charge of his company.(*) IFIS MIL:IF, ILLIMITY (ILTY.MI)If the take-up in the Venice-based bank's bid for digital bank Illimity should fall short of the 67% threshold set, Ifis may aim to complete the merger in a second phase, by buying shares on the market, daily MF wrote on Wednesday. STELLANTIS MIL:STLAM Italy's market for new cars was broadly flat in May, registering a marginal 0.16% decline compared to the same month of last year, transport ministry data showed on Tuesday.Market leader Stellantis lost ground, with sales decreasing by 7.99% year-on-year and its market share dropping to around 28% from 30.6% in April, accordin...