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Italy - Factors to watch on October 15
Italy - Factors to watch on October 15
About this update from Snam 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 .ECONOMYBank of Italy releases August data on public finances, state borrowing and debt.(*) The Treasury on Tuesday signed off the draft budget, which targets Rome's deficit to fall to 2.8% of national output in 2026 from an estimated 3% this year, and it will now be sent to the European Commission for approval.Tax cuts and other expansionary measures over the next three years will average around 18 billion euros per year, the Treasury said, to be funded by spending curbs and increases in revenues from various sources. (*) Italy, whose sovereign assets from bonds to banks have so often been the subject of market crises in recent years, is currently enjoying a windfall as the central bank's vast gold reserves track record-high prices.COMPANIESSTELLANTIS MIL:STLAM The automaker announced a $13 billion investment in the U.S. on Tuesday, a move it said will bring five new models to the market and add 5,000 jobs in plants across the Midwest over the next four years.BANKS, INSURANCE COMPANIESItaly will garner resources from its banks and insurers to help fund its 2026-2028 budget, the Treasury said on Tuesday after the cabinet signed off on the draft package.Political sources said the financial sector would be called upon to contribute to state coffers with total resources worth between 4.5 and 5 billion euros ($5.80 billion) spread over several years.(*) GENERALI MIL:GPrivate equity fund Apax Partners has instructed advisors UBS and Nomura to explore potential buyers for life insurance group GamaLife, MF reported on Wednesday adding that Generali is interested in the Portuguese operations of the company, which would include the bancassurance partnership with Novo Banco.The deal would involve nearly 9 billion euros in life insurance policies across Italy and Portugal, and could be valued at around 600 million euros, MF added. SNAM MIL:SRG Spanish gas grid operator Enagas is in talks to acquire Singaporean sovereign wealth fund GIC's 32% stake in Terega, France's second-largest gas transmission operator, according to a Reuters exclusive. Snam is Terega's leading shareholder, with a 40.5% stake. (*) ELES MIL:ELES, MARE MIL:MARE...