Business
Italy - Factors to watch on October 1
Italy - Factors to watch on October 1
About this update from Prysmian S.p.a.
The following factors could affect Italian markets on Wednesday.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 .ECONOMYSeptember PMI manufacturing HCOB data (0745 GMT).Transport Ministry releases September car sales data (1600 GMT).September state sector borrowing requirement data.COMPANIESPIRELLI MIL:PIRCChina's Sinochem is open to bids for its Pirelli stake - if the offer comes with a premium - after Italy's government said this week that the Chinese group was not breaching rules meant to protect the tyre maker's autonomy, sources close to the matter told Reuters on Tuesday.BANCO BPM MIL:BAMIRepresentatives of Credit Agricole EURONEXT:ACA have discussed with Italian government officials in recent weeks the conditions for a possible tie-up between the French bank's Italian unit and Banco BPM, two people close to the matter said.Credit Agricole executives met with the Rome officials after the bank sought supervisory clearance in July to own up to 29.9% of Banco BPM and used derivative contracts to increase its holding to just above 20%, one of the people said.(*) Credit Agricole has hired Matthieu Pigasse, a partner at Centerview Partners, and former Goldman Sachs executive Claudio Costamagna as advisers, Il Sole 24 Ore reported on Wednesday. (*) BANCO BPM MIL:BAMIGoldman Sachs cut its stake in the Italy's third-largest bank to 5%, including around 4.9% via derivatives, on September 24 from 6.92%, a regulatory filing showed on Tuesday. MEDIOBANCA MIL:MB, MONTE DEI PASCHI DI SIENA MIL:BMPS Monte dei Paschi is expected to name JPMorgan banker Vittorio Grilli as the new Mediobanca chair, while Alessandro Melzi d'Eril, CEO of fund manager Anima Holding MIL:ANIM, is the lead candidate for the chief executive role, sources told Reuters. (*) MEDIOBANCA MIL:MBGoldman Sachs raised its stake in the Italian merchant bank to 6.65% on September 22 from 5.72%, a regulatory filing showed on Tuesday. (*) DIASORIN MIL:DIAThe Italian medical diagnostic group is set to invest around 500 million euros in its plants in Europe and the United States over the next five years, CEO Carlo Rosa was quoted as saying by Il Corriere della Sera on Wednesday. BRUNELLO CUCINELLI MIL:BCReleases Q3 preliminary results (revenues), followed by conference call (1600 ...