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Italy - Factors to watch on November 21
Italy - Factors to watch on November 21
About this update from Saipem S.p.a.
The following factors could affect Italian markets on Friday.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 .POLITICS(*) Brussels is set to issue a formal warning to Rome over concerns that Italy's far-reaching "golden power" rules may breach European Union law, the Financial Times reported on Friday, citing two European officials.ECONOMY Bank of Italy releases report on financial stability. DEBT(*) 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.The Italian Treasury said on Thursday it would sell up to 4.5 billion euros in bonds at a November 25 auction. On Friday the Treasury announces sale of 6-month BOT bills, with relative amounts to be auctioned on November 26.COMPANIESBANKSItaly is considering a further hike in the IRAP corporate tax weighing on domestic banks to fund costly amendments to next year's budget, political sources said on Thursday.The proposed budget increases the IRAP tax band for the financial sector by two percentage points. Rome could raise it again by an additional 0.5% but only for larger banks, the sources said.BPER BANCA MIL:BPEJPMorgan held a 5.841% stake in the Italian lender as of November 13, a filing by market regulator Consob showed on Thursday.SNAM MIL:SRGBlackRock held a 5.011% stake in the Italian gas grid operator as of November 18, a filing by market regulator Consob showed on Thursday..SAIPEM MIL:SPMBNP Paribas and Barclays held an indirect stake of 5.056% and 6.371% respectively in the Italian oilfield services company as of November 13,a filing by market regulator Consob showed on Thursday.JPMorgan held a 4.9% stake as of November 17, it added.FINCANTIERI MIL:FCTThe Italian shipbuilder is expected to join Italy's blue-chip stock index, FTSE MIB INDEX:FTSEMIB for the first time next month, traders said on Thursday, strengthening the influence of the defence sector amid a global rally driven by geopolitical tensions. JUVENTUS MIL:JUVE(*) The Turin-based football club said on Friday it had completed the placement of 37.9 million new ordinary shares, or about 9.1% of its capital, through an accelerated bookbuilding process reserved...