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Italy - Factors to watch on May 11
Italy - Factors to watch on May 11
About this update from Snam S.p.a.
The following factors could affect Italian markets on Monday.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 .POLITICSU.S. Secretary of State Marco Rubio met Prime Minister Giorgia Meloni on Friday and afterwards questioned why allies including Italy were not backing Washington's efforts to confront Iran and re-open the Strait of Hormuz.Rubio on Friday said the United States can have a productive relationship with the Catholic Church despite tensions over President Donald Trump's repeated attacks on Pope Leo.DEBTItaly Treasury said on Friday it would sell up to 7.50 bln euros in bonds at May 13 auction.COMPANIESINTESA SANPAOLO MILSEDEX:I05395, ASSICURAZIONI GENERALI MIL:GItaly's biggest bank on Friday reported better-than-expected quarterly earnings and ruled out any moves on Generali as speculation around the future of the insurer intensifies.(*) Morgan Stanley on Monday cut its rating on Intesa to 'Equal Weight' from 'Overweight', and the target price to 6.6 euros from 6.8 euros.GENERALI, MONTE DEI PASCHI DI SIENA MIL:BMPSLuxembourg-based Delfin, the holding company of Italy's Del Vecchio family and the main shareholder in EssilorLuxottica EURONEXT:EL, on Friday defended the validity of an agreement its shareholders reached on April 27 to redesign ownership.In challenging the decision, Rocco Basilico has argued that an 88% majority was required for the approval, Il Sole 24 Ore reported on Saturday. The paper also said that Leonardo Maria Del Vecchio is close to signing an accord with his mother Nicoletta Zampillo that would give him bare ownership of her 12.5% Delfin stake, and preparing to start legal action to strip Basilico of voting rights on his 12.5% Delfin holding.Monte Paschi's board meeting on first-quarter results. Statement due on Tuesday.(*) MEDIOBANCA MIL:MBBoard meeting on first-quarter results.(*) FINCANTIERI MIL:FCTBoard meeting on first-quarter results.EDISON MIL:EDNRQatarEnergy's European customer expects the Gulf producer to restart supplying liquefied natural gas (LNG) in 30-45 days after a peace deal, but at lower volumes than before the Iran war, the Italian group CEO said on Friday.SNAM MIL:SRGThe gas grid company has agreed with a pool of 24 banks that includes BNP Paribas, Barclays, Morgan Stanley, Inte...