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 (*).
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Italy reported 120 coronavirus-related deaths on Tuesday against 98 the day before, the health ministry said, while the daily tally of new infections rose to 20,677 from 12,712.
Italy on Tuesday extended a COVID-19 state of emergency to March 31 and ruled that all visitors from EU countries must take a test before departure, amid concerns over the spread of the Omicron variant of the coronavirus. read more
ISTAT releases November CPI final data (0900 GMT).
Bank of Italy releases October data on public finances, state borrowing and debt.
ASSICURAZIONI GENERALI (GASI.MI)
(*) Italy’s top insurer on Wednesday pledged to return up to 6.1 billion euros ($7 billion) in dividends and buybacks to shareholders as Chief Executive Philippe Donnet presented a new strategy to 2024. Generali also earmarked up to 3 billion euros for mergers and acquisitions in insurance and asset management. read more
Digital ‘Investor Day’ (0800 GMT).
The board of Italy’s top insurer Generali on Tuesday approved a new business plan presented by Chief Executive Philippe Donnet with 11 votes in favour out of 13, two people close to the matter said.
(*) Italy’s government plans to extend its golden powers, allowing it to veto or impose strict conditions on a deal, over the financial sector by a year in order to protect Generali from the interest of a few large foreign groups, daily MF reported on Wednesday.
BPER BANCA (EMII.MI), CARIGE (CRGI.MI)
Italy’s BPER said on Tuesday it had made a non binding offer to Italy’s depositor protection fund FITD to buy 88.3% in rival Banca Carige for one euro. read more
Carige has a board meeting scheduled for Wednesday.
(*) Depositor protection fund FITD holds a board meeting on Thursday over the BPER’s offer, two sources close to the matter told Reuters. According to il Sole 24 Ore, FITD could examine the offer on Wednesday.
(*) MONTE DEI PASCHI (BMPS.MI)
The lender has called for a board meeting on Friday to discuss its industrial plan, il Sole 24 Ore and il Corriere della Sera reported on Wednesday.
(*) TELECOM ITALIA
A team of KKR led by Alberto Signori is in Rome for a series of institutional meetings. The team could meet representatives of market watchdog Consob and of the Treasury, Il Sole 24 Ore reported.
U.S. fund KKR (KKR.N) said on Tuesday it was keen to engage with Telecom Italia over its $37 billion takeover proposal for the phone group and expected to conduct a due diligence analysis, but had set no deadline for it. read more
SALVATORE FERRAGAMO (SFER.MI)
The Italian luxury group said on Tuesday that Ferragamo family’s right-hand man Michele Norsa had resigned from executive vice chairman, signalling the end of a period of transition for the group. Norsa, a former Ferragamo CEO, was brought back to help the company weather the COVID-19 storm. New CEO Marco Gobetti will arrive at the beginning of January.
BRUNELLO CUCINELLI (BCU.MI)
The Italian luxury group said on Tuesday it had raised its 2021 sales guidance for the fourth time this year.
The Italian clothing group said on Tuesday it had raised its revenue and core profit forecasts for the full year, after it reported a 160% increase in the nine-month core profit.
Italian aerospace and defence group said on Tuesday the first two Eurofighter Typhoons for Kuwait Air Force had landed in the country.
Facile.it, a digital group that compares insurance companies’ prices, could be sold or listed in 2022 by its controlling shareholder, Swedish private equity firm Eqt, il Sole 24 Ore reported.
(*) IGD (IGD.MI)
Claudio Albertini, head of the retail company active in the real estate sector, told daily Mf that at the moment “more than acquisitions we need to think in terms of partnerships”.
The company presents 2022-2030 renewable sources development plan in Milan (1100 GMT).
Ordinary and extraordinary shareholders’ meeting (0800 GMT).
INVESTINDUSTRIAL ACQUISITION CORP (5X1.F)
Extraordinary general meeting to approve its business combination with Ermenegildo Zegna ahead of a planned listing of the company on NYSE (0800 GMT).
Symbola and Enel (ENEI.MI) present research “100 Italian Circular Economy Stories” online with Symbola President Ermete Realacci, Enel CEO Francesco Starace (1000 GMT).
Rome, Prime Minister Mario Draghi speaks before Chamber of Deputies (0800 GMT) and Senate (1500 GMT) ahead of the European Council meeting due on Dec. 16-17.
Rome, Economy Minister Daniele Franco speaks before Parliamentary Committee for the Security of the Republic (COPASIR) (1100 GMT).
Rome, German Ambassador Viktor Elbling speaks before Chamber of Deputies Foreign Affairs Committee on foreign policy lines of the new German government (1300 GMT).
Rome, Industry Minister Giancarlo Giorgetti attends via videoconference at banking association (ABI) Executive Committee meeting (0900 GMT).
Rome, Health Ministry holds news conference “Start of COVID-19 vaccination campaign for paediatric children (5-11 years)” with Superior Health Council President Franco Locatelli (0930 GMT).
Rome, The European House Ambrosetti holds annual event ‘Italian-French Dialogues for Europe’ on “Italy and France: a strengthened alliance with the Quirinal Treaty” with Enel (ENEI.MI) Chairman Michele Crisostomo, Telecom Italia (TLIT.MI) (TIM) Chairman Salvatore Rossi (0800 GMT).
Milan, conference “Becoming a sustainable small- and medium-sized company” with Digital Magics (DMG.MI) CEO Marco Gay (0930 GMT).
Milan, Findomestic presents 28th edition survey on “Durable goods markets and new consumption trends” (1030 GMT).