Snam S.p.a.MIL: SRG

Italy - Factors to watch on September 23

· Issued by Snam S.p.a.

The following factors could affect Italian markets on Tuesday.

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

Striking dockworkers blocked access roads to ports in Italy on Monday and violence flared at a pro-Palestinian protest in the centre of Milan as unions staged a day of protest against Israel's Gaza offensive.

(*) Italy was among the two dozen countries offering financial contributions, medical staff or equipment needed to treat patients from Gaza in the Israeli-occupied West Bank.

DEBT

The Rome-based Treasury said on Monday it would offer 6.5 billion euros ($7.66 billion) in bills at an auction on September 25.

On Tuesday the Treasury will announce the sale of BTP and CCTeu bonds, with the relative amounts to be auctioned on September 26.

COMPANIES

BANCA MONTE PASCHI DI SIENA MIL:BMPS, MEDIOBANCA MIL:MB

The shareholder take-up in Monte dei Paschi's bid for Mediobanca reached 86.3% at the end of the reopening period on Monday, according to bourse data.

(*) Monte dei Paschi's next step will be to delist Mediobanca from the bourse, several newspapers reported on Tuesday.

GENERALI MIL:G

Following the upgrade of Italy's sovereign rating on Friday, rating agency Fitch has upgraded the Italian insurer's and its core subsidiaries' Long-Term Issuer Default Rating (IDR) to 'A+' from 'A' with stable outlook.

(*) The insurance group's board is due to meet on Wednesday to discuss the progress of talks with France's BPCE over a joint venture between their asset management units, MF reported on Tuesday.

(*) SAIPEM MIL:SPM

Italy's government has given a conditional green light to the merger between energy contractor Saipem and its Norwegian rival Subsea7 OSL:SUBC, financial newspaper MF reported on Tuesday.

(*) SNAM MIL:SRG

RBC on Tuesday cut the gas grid group to 'sector perform' from 'outperform', and cut the target price to 5.15 euros from 5.30 euros.

(*) TERNA MIL:TRN

RBC on Tuesday raised the state-controlled power grid operator to 'outperform' from 'sector perform', and raised the target price to 9.60 euros from 8.60 euros.

(*) ITALGAS MIL:IG

RBC raised on Tuesday the gas distributor to 'outperform' from 'sector perform' and raised the target price to 9 euros from 6.80 euros.

DIARY

Prime Minister Giorgia Meloni attends 80th U.N. general meeting in New York.

Rome, "Urania Policy & Business Forum" (0730 GMT); expected attendees include Infrastructure and Transport Minister Matteo Salvini, EU Commission Vice-President Raffaele Fitto, Banca Monte dei Paschi di Siena MIL:BMPS Chairman Nicola Maione, BPER Banca MIL:BPE Chairman Fabio Cerchiai.

Milan, Economy Deputy Minister Maurizio Leo attends event "Tax control framework and cooperative compliance: measures to strengthen Italy's attractiveness" (1330 GMT).

Turin, Economy Deputy Minister Maurizio Leo and tax agency Agenzia delle Entrate Director Vincenzo Carbone attend roadshow presenting the cooperative compliance regime (0800 GMT).

((Milan newsroom, e-mail: ))

For Italian market data and news, click on codes in

brackets:

20 biggest gainers (in percentage)(.PG.MI)20 biggest losers (in percentage)(.PL.MI)

FTSE IT allshare index FTSE:ITLMS

  • FTSE Mib index
  • .FTMIB

FTSE Allstars index... FTSE:ITSTAR

FTSE Mid Cap index (.FTITMC)Block trades (.BLK.MI)Stories on Italy (IT-LEN)

For pan-European market data and news, click on codes in

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Main stock markets:

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($1 = 0.8482 euros)