Business
Italy - Factors to watch on October 16
Italy - Factors to watch on October 16
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 .ECONOMYISTAT releases September CPI final data (0800 GMT) and August foreign trade data (0900 GMT).COMPANIES(*) BANKSTalks between Italian banks and the government over the lenders' contribution to the 2026 budget are deadlocked and may lead to a cabinet meeting, due to finalise the pacakge, to be posponed to Monday from Friday, according to people familiar with the matter. The standstill is over additional levies to be applied to banks on top of the multi-year freeze of tax credits, known as deferred tax assets (DTAs), which banks have agreed to, the sources said. The maximum stake that a banking foundation can hold in a bank will rise to 44% from 33%, in fair value terms, according to a deal set to be signed on October 28 between the Italian Treasury and the association of Italian banking foundations ACRI, reported Corriere della Sera daily on Thursday. (*) INTESA SANPAOLO MIL:ISP RBC initiated coverage of the bank on Thursday with an 'outperform' rating and a target price of 7 euros. (*) BANCA MONTE DEI PASCHI DI SIENA MIL:BMPS Jefferies initiated coverage of the Tuscan lender on Thursday with a 'buy' rating and a target price of 9.3 euros.(*) MEDIOBANCA MIL:MB Following its acquisition by Monte dei Paschi and by year-end, the merchant bank will change its accounting period - currently from July to June - in order to close it in December, Il Sole 24 Ore daily reported on Thursday. (*) STELLANTIS MIL:STLAM Canada threatened legal action against the automaker on Wednesday over what Ottawa says is the company's unacceptable plan to shift production of one model to a U.S. plant.LEONARDO MIL:LDO Germany is strengthening its air defence capabilities with the purchase of 20 new Eurofighters, the consortium said on Wednesday, adding that the first aircraft will be delivered in 2031 and the last in 2034. The consortium includes Germany, Britain, Italy and Spain, and is represented by Airbus EURONEXT:AIR, BAE Systems LSE:BA. and Leonardo.(*) TELECOM ITALIA (TIM) MIL:TIT Deutsche Bank on Thursday raised the rating of the phone group to 'buy' from 'hold' and raised the target price for both the shares and the savings shares of t...