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Italy - Factors to watch on November 20
Italy - Factors to watch on November 20
About this update from Banco Bpm Spa
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 .DEBTTreasury announces sale of BTP Short and BTPei bonds, with relative amounts to be auctioned on November 25.(*) Moody's review of Italy on Friday may yield the first rating upgrade for almost a quarter of a century, analysts say, reflecting growing confidence in the public finances of the euro zone's third largest economy.COMPANIESLEONARDO MIL:LDOThe Italian defence and aerospace company and Abu Dhabi's EDGE group will launch a joint venture in the United Arab Emirates next year to design, develop and produce defence systems, the companies said at the Dubai Airshow on Wednesday.(*) BANCA MONTE DEI PASCHI DI SIENA MIL:BMPSThe sale of the lender's French subsidiary Monte Paschi Banque to U.S. private equity firm J.C. Flowers could be finalised by the end of the year, MF reported on Thursday. (*) BANCO BPM MIL:BAMI The outgoing board's slate of candidates for the upcoming board renewal will likely be a compromise between the wishes of the current management and leading shareholder Credit Agricole EURONEXT:ACA, Corriere della Sera reported on Thursday, adding that the French lender may request four or five candidates, as well as a general manager. Similarly MF reports that Credit Agricole aims for a representation on the board that is proportional to its stake, or five seats, including the chairman.Separately, MF also reported that talks are underway among the shareholder foundations to strengthen the existing consultation pact - which had fallen to about 6.5% of the capital at the start of 2024 - with the possibility of bringing in pension funds Enasarco and Enpaf, which hold 1.5% and 0.2% respectively. (*) BANKS The latest board meeting of the Banca D'Asti Foundation voted against selling the bank outside the region of Piedmont, a move supported by its chairman Livio Negro, La Stampa reported on Thursday. Both Banco BPM MIL:BAMI and UniCredit MIL:UCG had expressed interest in the local bank, La Stampa added. MFE-MEDIAFOREUROPE MIL:MFEA(*) The commercial broadcaster controlled by Italy's Berlusconi family on Thursday reported a drop in operating profit, hit by weak advertising sales and lower margins in its Spanish mark...