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Italy - Factors to watch on March 19
Italy - Factors to watch on March 19
About this update from Prysmian S.p.a.
The following factors could affect Italian markets on Thursday.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 .POLITICSItaly on Wednesday cut excise duties on fuels as part of measures to help families and businesses cope with higher energy costs triggered by the war in the Middle East.COMPANIES(*) ENI MIL:ENI U.S. alternative investment manager Ares Management Corp NYSE:ARES is considering increasing its 20% stake in Italian energy group's subsidiary Plenitude, Italian daily Corriere della Sera reported on Thursday, citing market rumours. Eni did not respond to the newspaper's request for comment.Eni unveils its new strategy, followed by 'Capital Markets Day'.(*) TELECOM ITALIA (TIM) MIL:TITItaly's biggest telecoms group and Fastweb, the Italian arm of Swisscom SIX:SCMN, agreed to jointly build up to 6,000 telecom towers in Italy, the two companies said on Thursday.MEDIOBANCA MIL:MB S&P Global said on Wednesday it had downgraded the lender to 'BBB', citing its consolidation into Banca Monte dei Paschi di Siena MIL:BMPS, "a banking group with a higher risk profile and a different corporate culture and business model", adding that the move would weaken Mediobanca's creditworthiness. The outlook is positive, it said.PRYSMIAN MIL:PRYThe Italian cable maker is considering building a new mill in Texas as it pursues U.S. acquisitions, Bloomberg News reported on Wednesday. The company may pull the trigger in the next year or so on a second copper rod facility at its McKinney site near Dallas, with an investment of $100 million to $200 million, the Bloomberg report said. Reuters could not immediately verify the report.LEONARDO MIL:LDO, IVECO MIL:IVGThe Italian defence group said on Wednesday it had completed the acquisition of Iveco's defence business for 1.6 billion euros, in line with the agreed enterprise value of 1.7 billion euros minus contractual adjustments. The sale price is subject to closing adjustments to be finalised by the beginning of April, Iveco said.(*) BUZZI MIL:BZUJ.P. Morgan raised on Thursday its rating on the Italian cement company to 'overweight' from 'neutral'.(*) MFE-MEDIAFOREUROPE MIL:MFEAYannick Bollore, chairman of Vivendi's EURONEXT:VIV supervisory board, said in an interview with Il Sole 24 Ore that the Fre...