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Italy - Factors to watch on May 8
Italy - Factors to watch on May 8
About this update from Saipem 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 .ECONOMYBank of Italy releases April data on Target 2 liabilities and European Central Bank funding to Italian banks.DEBTTreasury announces sale of BTP bonds, with relative amounts to be auctioned on May 13.COMPANIES BANCO BPM MIL:BAMI Banco BPM raised its 2025 guidance after a bigger-than-expected 38% rise in first quarter net profit driven by fee and trading income which more than offset the hit from lower interest rates, it said on Wednesday.CEO Giuseppe Castagna said in a call with analysts that the bank sees room to explore other potential M&A opportunities if UniCredit MIL:UCG drops its takeover bid, adding however that the standalone path "is very satisfactory".(*) BPER BANCA MIL:BPEItaly's fourth-largest bank posted a 43.2% rise in first-quarter net profit on Thursday, driven by fee and trading income that more than countered a decline in net interest margin.Conference call on Q1 results (0800 GMT).GENERALI MIL:G, MEDIOBANCA MIL:MB, BANCA GENERALI MIL:BGN Generali's board has "defined a process and a schedule of work" to assess Mediobanca's bid for Banca Generali, the insurance group said on Wednesday, without giving details. Generali is Banca Generali's controlling shareholder. Mediobanca CEO Alberto Nagel met on Wednesday in Rome with Prime Minister Giorgia Meloni's chief of staff Gaetano Caputi to illustrate his bank's bid for Banca Generali, people familiar with the matter said. (*) According to La Stampa, Nagel told the government that Mediobanca's deal for Banca Generali would result in a reshuffle of Generali's shareholders which could lead to the collapse of the planned partnership between the insurer and France's Natixis, which the government opposes.(*) The Italian government is set to approve Mediobanca's bid for Banca Generali under "golden powers" rules, MF reported on Thursday. (*) UNICREDIT MIL:UCG, BANCO BPM MIL:BAMIItaly's Economy Minister Giancarlo Giorgetti may meet with bank CEO Andrea Orcel this week over UniCredit's bid for smaller rival Banco BPM, la Repubblica reported on Thursday. (*) NEXI MIL:NEXI The Italian payments group on Thursday posted a 7% rise in its first-quarter core profit, t...