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Italy - Factors to watch on September 23
Italy - Factors to watch on September 23
About this update from 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 .POLITICSStriking 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.DEBTThe 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.COMPANIESBANCA MONTE PASCHI DI SIENA MIL:BMPS, MEDIOBANCA MIL:MBThe 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:GFollowing 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. genera...