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Italy - Factors to watch on Aug. 17

Published 17/08/2017, 04:25 pm
© Reuters.  Italy - Factors to watch on Aug. 17
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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 IT/DIA .

(*) ECONOMY

Italy's gross domestic product (GDP) this year will rise more that the 1.1 percent growth forecast by the government, Economy Deputy Minister Enrico Morando said in an interview with la Repubblica. "A higher growth does not mean that (Italy's) problems are over and that the budget law will be easy, because it won't," Morando said.

The latest GDP figures will allow Italy to manage the next budget law with more funds and greater serenity, although the country must still keep an eye on its deficit and a relevant debt pile, Economy Undersecretary Pierpaolo Baretta said in an interview with Il Messaggero.

COMPANIES (*) FIAT CHRYSLER FCHA.MI

Geely Automobile Holdings Ltd 0175.HK said on Wednesday it was not planning a bid for Fiat Chrysler Automobiles (FCA) and while other potential Chinese suitors remain any tie-up could face significant U.S. regulatory obstacles.

Chinese SUV maker Great Wall Motors 601633.SS and state-owned Guangzhou Automobile Group are among the automakers that have considered deals with FCA, sources told Reuters on Wednesday. It is not clear whether the automakers are interested in buying all of FCA or just certain assets. Wall Motors has denied interest in FCA, reported Il Sole 24 Ore, citing daily Jingji Guancha Bao. Dongfeng Motor Corp. and Guangzhou Automobile have said they know nothing about the speculations, the report added.

Both Great Wall and Dongfeng are not capable of acquiring FCA, reported Corriere della Sera citing unidentified Chinese media.

(*) ENEL ENEI.MI

The group's renewable energy unit Enel Green Power (EGP) aims at big industrial clients, particularly in North America, Chief Executive Antonello Cammisecra said in an interview with Il Sole 24 Ore.

Cammisecra added that the group is "hopeful" of the outcome of the first tender for solar energy in Ethiopia and is in ongoing "processes" in Western Africa, Senegal, Ghana and the Ivory Coast. He said that he expected new tenders in Brazil and that the group has now opened a new office in Australia, where the group is expanding rapidly.

SAIPEM SPMI.MI

The Italian oil service company said it had been awarded a contract worth around $850 million in Kuwait. SALINI IMPREGILO SALI.MI

The new Panama Canal, built by a consortium led by Salini Impregilo , has registered the transit of more than 2,000 ships since its opening in June 2016, a higher number than expected, the group said in a statement on Wednesday.

GEQUITY GEQ.MI

HRD Italia said on Wednesday its takeover offer on all the shares of Gequity had been suspended by market regulator Consob pending additional information requested by the watchdog.

(*) ITALIAN BANKS

The Italian state guarantee scheme for loan securitisation has expired on Wednesday and the Treasury has asked Brussels to renew it, reported il Sole 24 Ore, adding that it is not clear whether the Economic Ministry will use the renewal to change the terms of the decree regulating the scheme.

Bourse After Hours market closed.

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