Q3 GDP seen up 0.1% qtr/qtr (Il Sole 24 Ore Radiocor Plus) - Milan , 16 Oct - Italy's gross domestic product (GDP) in the month of October is expected to rise 0.1% on the year earlier, according to a forecast from retailers trade association Confcommercio. In the third quarter of 2019, Confcommercio expects Italian GDP to rise 0.1% on the previous quarter and 0.3% on the year. A24-Hob (RADIOCOR) 16-10-19 12:05:18 (0296) 5 NNNN
Revised from up 0.4% yr/yr (Il Sole 24 Ore Radiocor Plus) - Milan, 16 Oct - Consumer prices in Italy in September fell a monthly 0.6% and rose an annual 0.3%, slowing from the 0.4% year on year rise seen in August and revised down from a preliminary reading of up 0.4%, according to final data released by national statistical office Istat. The slowdown was mainly due to a greater decrease of prices of non-regulated energy products from down 1.0% to down 2.6% and to the deceleration of those of unprocessed food from up 1.5% to up 1.1% and of services related to transport from up 1.7% to up 0.4%. These were partially offset by an acceleration of price increases for of services related to recreation, including repair and personal care from up 1.0% to up 1.4% and by the lower decrease of durable goods from down 1.2% to down 0.8%. Core inflation excluding energy and unprocessed food was up 0.6% year on year, compared with up 0.5% while excluding just energy was stable at up 0.6%. The monthly decrease was essentially due to prices of Services related to transport, which contracted 6.1%, mainly influenced by seasonal factors. The harmonized index of consumer prices, used for European Union purposes, increased 1.4% month on month and 0.2% with respect to a year ago, compared with a preliminary reading of up 0.3%. The increase on monthly basis was mainly due to the end of summer sales of clothing and footwear, which are not taken into account in the national index. A24-Sch (RADIOCOR) 16-10-19 11:31:33 (0271) 5 NNNN
EU CPI up 0.2% mth/mth, up 1.2% yr/yr (Il Sole 24 Ore Radiocor Plus) - Brussels, 16 Oct - Consumer prices in the eurozone in September grew a monthly 0.2% and increased an annual 0.8%, slowing from the 1.0% year on year increase seen in August, according to data released by Eurostat, the statistical office of the European Union. In the EU as a whole, CPI also increased a monthly 0.2% and rose an annual 1.2%, slowing from up 1.4% the earlier month. The lowest annual rates were registered in Cyprus (-0.5%), Portugal (-0.3%), Greece, Spain and Italy (all 0.2%). The highest were recorded in Romania (3.5%), Slovakia (3.0%) and Hungary (2.9%). Compared with August, annual inflation fell in twenty member states, remained stable in five and rose in two. In September, the highest contribution to the annual euro area inflation rate came from services (+0.66 percentage points), followed by food, alcohol & tobacco (+0.29 points), non-energy industrial goods (+0.06 points) and energy (-0.18 points). A24-Sch (RADIOCOR) 16-10-19 11:14:38 (0253) 5 NNNN
Industrial sales down adj 0.3% mth/mth (Il Sole 24 Ore Radiocor Plus) - Milan , 16 Oct - Seasonally adjusted industrial sales fell 0.3% month on month in August, while workday adjusted sales were down 2.2% year on year, Istat said, noting that there were 21 working days in August 2019 and 22 the year earlier. Domestic industrial sales fell 0.5% month on month in August while foreign sales were 0.1% lower. Year on year, industrial sales fell 1.8% on the domestic market and 2.9% on foreign markets. A24-Hob (RADIOCOR) 16-10-19 10:38:55 (0208) 5 NNNN
Down unadjusted 10.0% yr/yr (Il Sole 24 Ore Radiocor Plus) - Milan , 16 Oct - Italian seasonally adjusted industrial orders in August rose 1.1% on the previous month, while unadjusted orders were 10.0% below the year earlier, data from statistics institute Istat showed. Compared to the previous month, domestic orders increased 1.1% in August while foreign orders were up 1.0%. Year on year, domestic orders fell 4.0% in August while foreign ones slumped 16.3%. The textile and clothing sector saw a 1.0% annual rise in orders in August while orders for means of transport declined 27.3%. A24-Hob (RADIOCOR) 16-10-19 10:16:57 (0184) 5 NNNN
Yield steady at 1.03% (Il Sole 24 Ore Radiocor Plus) - Milan , 16 Oct - The differential between yields on 10-year Italian government bonds and their German counterparts narrowed to 1.44 percentage points in early trade from 1.46 points at the close Tuesday. The yield on the benchmark Italian bonds was 1.03%, steady on Tuesday's close. A24-Hob (RADIOCOR) 16-10-19 09:09:45 (0152) 5 NNNN
Jan-Sept new car registrations down 1.6% (Il Sole 24 Ore Radiocor Plus) - Brussels , 16 Oct - Over the first nine months of 2019, new car registrations in the EU fell 1.6% to 11.769 million units. Despite recovering demand in September, Germany, with 2.5% growth in the year to date, was the only major market to post positive results so far this year, Acea said. Spain saw the strongest drop, at 7.4%, followed by the UK (down 2.5%), Italy (down 1.6%) and France (down 1.3%). A24-Hob (RADIOCOR) 16-10-19 08:12:31 (0082) 5 NNNN
Double-digit gains in Italy, Germany, Spain and France (Il Sole 24 Ore Radiocor Plus) - Brussels , 16 Oct - New car registrations in the European Union in September rose 14.5% on the year earlier to 1.249 million units, according to data from manufacturers' association Acea. Acea said that the strong year-on-year growth was largely the result of a low base of comparison, as registrations fell 23.5% in September 2018 following the introduction of the WLTP testing regime. In September, the Acea figures showed all EU member states posted increases, except for Bulgaria. Four of the five major EU markets recorded double-digit gains: Germany (+22.2%), Spain (+18.3%), France (+16.6%) and Italy (+13.4%). By contrast, in the UK, market recovery was limited to 1.3%, as Brexit-related uncertainties continued to affect consumer confidence. A24-Hob (RADIOCOR) 16-10-19 08:12:23 (0079) 5 NNNN
(Il Sole 24 Ore Radiocor Plus) - New York, 15 Oct - Economic calendar for Wednesday, October 16 01:00 KRW Interest Rate Decision (Oct) 1.25% 1.50% 02:00 JPY Thomson Reuters IPSOS PCSI (Oct) 40.25 02:00 CNY China Thomson Reuters IPSOS PCSI (Oct) 68.54 06:00 GBP Car Registration (YoY) (Sep) -1.6% 06:00 GBP Car Registration (MoM) (Sep) -41.1% 06:00 EUR Italian Car Registration (YoY) (Sep) -3.1% 06:00 EUR Italian Car Registration (MoM) (Sep) -41.9% 06:00 EUR German Car Registration (YoY) (Sep) -0.8% 06:00 EUR German Car Registration (MoM) (Sep) -5.7% 06:00 EUR French Car Registration (YoY) (Sep) -14.1% 06:00 EUR French Car Registration (MoM) (Sep) -24.9% 08:00 EUR Italian Industrial New Orders (MoM) (Aug) 1.9% -2.9% 08:00 EUR Italian Industrial New Orders (YoY) (Aug) -2.6% -1.0% 08:00 EUR Italian Industrial Sales (MoM) (Aug) 0.20% -0.50% 08:00 EUR Italian Industrial Sales (YoY) (Aug) -1.50% -0.60% 08:30 GBP Core CPI MoM (MoM) (Sep) 0.2% 0.4% 08:30 GBP Core CPI (YoY) (Sep) 1.7% 1.5% 08:30 GBP Core PPI Output (YoY) (Sep) 1.9% 2.0% 08:30 GBP Core PPI Output (MoM) (Sep) 0.1% 0.2% 08:30 GBP Core RPI (YoY) (Sep) 2.6% 08:30 GBP Core RPI (MoM) (Sep) 0.8% 08:30 GBP CPI (MoM) (Sep) 0.2% 0.4% 08:30 GBP CPI (YoY) (Sep) 1.8% 1.7% 08:30 GBP CPI, n.s.a (Sep) 108.38 08:30 GBP PPI Input (MoM) (Sep) 0.2% -0.1% 08:30 GBP PPI Input (YoY) (Sep) -1.8% -0.8% 08:30 GBP PPI Output (YoY) (Sep) 1.3% 1.6% 08:30 GBP PPI Output (MoM) (Sep) 0.1% -0.1% 08:30 GBP RPI (YoY) (Sep) 2.6% 2.6% 08:30 GBP RPI (MoM) (Sep) -0.1% 0.8% 09:00 EUR Italian CPI (MoM) (Sep) -0.5% 09:00 EUR Italian CPI (YoY) (Sep) 0.5% 0.4% 09:00 EUR Italian CPI Ex Tobacco (MoM) (Sep) 0.3% 09:00 EUR Italian HICP (YoY) (Sep) 0.3% 0.5% 09:00 EUR Italian HICP (MoM) (Sep) 1.5% 0.0% 09:00 EUR Core CPI (YoY) (Sep) 1.0% 1.0% 09:00 EUR Core CPI (MoM) (Sep) 0.4% 0.4% 09:00 EUR CPI (MoM) (Sep) 0.2% 0.1% 09:00 EUR CPI (YoY) (Sep) 0.9% 1.0% 09:00 EUR CPI ex Tobacco (YoY) (Sep) 1.0% 0.9% 09:00 EUR CPI ex Tobacco (MoM) (Sep) 0.1% 09:00 EUR HICP ex Energy & Food (YoY) (Sep) 1.2% 1.2% 09:00 EUR HICP ex Energy and Food (MoM) (Sep) 0.3% 0.2% 09:00 EUR Trade Balance (Aug) 17.5B 24.8B 09:40 EUR German 30-Year Bund Auction 0.050% 10:00 GBP Thomson Reuters IPSOS PCSI (Oct) 48.1 10:00 EUR Italy Thomson Reuters IPSOS PCSI (Oct) 40.56 10:00 EUR Germany Thomson Reuters IPSOS PCSI (Oct) 54.56 10:00 EUR France Thomson Reuters IPSOS PCSI (Oct) 44.51 10:00 RUB Russia Thomon Reuters IPSOS PCSI (Oct) 39.88 11:00 USD MBA 30-Year Mortgage Rate 3.90% 11:00 USD MBA Mortgage Applications (WoW) 5.4% 11:00 USD MBA Purchase Index 252.2 11:00 USD Mortgage Market Index 574.5 11:00 USD Mortgage Refinance Index 2,418.1 11:00 ZAR Retail Sales (YoY) (Aug) 1.5% 2.0% 12:30 USD Core Retail Sales (MoM) (Sep) 0.2% 0.0% 12:30 USD Retail Control (MoM) (Sep) 0.3% 0.3% 12:30 USD Retail Sales (MoM) (Sep) 0.3% 0.4% 12:30 USD Retail Sales (YoY) (Sep) 4.14% 12:30 USD Retail Sales Ex Gas/Autos (MoM) (Sep) 0.2% 0.1% 12:30 CAD Common CPI (YoY) 1.8% 1.8% 12:30 CAD Core CPI (MoM) (Sep) -0.1% 12:30 CAD Core CPI (YoY) (Sep) 1.9% 1.9% 12:30 CAD CPI (YoY) (Sep) 2.0% 1.9% 12:30 CAD CPI (MoM) (Sep) -0.2% -0.1% 12:30 CAD Foreign Securities Purchases (Aug) -1.17B 12:30 CAD Foreign Securities Purchases by Canadians (Aug) 12.45B 12:30 CAD Median CPI (YoY) 2.1% 2.1% 12:30 CAD Trimmed CPI (YoY) 2.1% 2.1% 13:00 GBP BoE Gov Carney Speaks 13:00 USD Chicago Fed President Evans Speaks 13:00 RUB Industrial Production (YoY) (Sep) 3.0% 2.9% 14:00 USD Business Inventories (MoM) (Aug) 0.2% 0.4% 14:00 USD NAHB Housing Market Index (Oct) 68 68 14:00 USD Retail Inventories Ex Auto (Aug) 14:30 USD Crude Oil Inventories 1.413M 2.927M 14:30 USD EIA Refinery Crude Runs (WoW) -0.361M 14:30 USD Crude Oil Imports -0.601M 14:30 USD Cushing Crude Oil Inventories 0.941M 14:30 USD Distillate Fuel Production 0.022M 14:30 USD EIA Weekly Distillates Stocks -2.114M -3.943M 14:30 USD Gasoline Production -0.015M 14:30 USD Heating Oil Stockpiles -0.779M 14:30 USD EIA Weekly Refinery Utilization Rates (WoW) 0.3% -0.7% 14:30 USD Gasoline Inventories -0.257M -1.213M 15:00 USD Thomson Reuters IPSOS PCSI (Oct) 58.94 15:00 BRL Brazil Thomson Reuters IPSOS PCSI (Oct) 47.08 17:00 EUR German Buba President Weidmann Speaks 17:30 BRL Foreign Exchange Flows -3.673B 18:00 USD Beige Book 18:00 USD Federal Budget Balance -200.0B 19:00 USD FOMC Member Brainard Speaks 20:00 USD US Foreign Buying, T-bonds (Aug) 11.00B 20:00 USD Overall Net Capital Flow (Aug) 66.60B 43.80B 20:00 USD TIC Net Long-Term Transactions (Aug) 74.3B 84.3B 20:00 USD TIC Net Long-Term Transactions including Swaps (Aug) 62.30B 20:30 USD API Weekly Crude Oil Stock 4.100M 22:10 AUD RBA Assist Gov Debelle Speaks 22:30 GBP BoE Gov Carney Speaks A24-Zap (RADIOCOR) 15-10-19 22:14:38 (0859) 5 NNNN
Working days adj net fees down 1% (Il Sole 24 Ore Radiocor Plus) - London, 15 Oct - UK recruitment company Hays said that in the first quarter ended September 30 group net fees increased by 1% on a reported basis thanks to a modest weakening the sterling while on a like for like basis they were flat against the prior year. By region, Australia and New Zealand saw a 2% like for like contraction of net fees, the UK a 4% drop while Germany was flat. The Rest of the World region, which includes 28 countries, delivered net fee growth of 4%, versus a tough growth comparative. Growth in Perm, which represented 69% of RoW net fees, was 6% while Temp was flat. The EMEA region excluding Germany, which represents 57% of RoW net fees, delivered 2% net fee growth and was broadly sequentially stable. The largest RoW country, France grew by 3%, Switzerland by 7% and Italy by 11%. However, net fees in the Netherlands fell 12%, in Belgium by 7% respectively and Spain by 6%. The Americas (23% of RoW) increased net fees by 7% driven by the US with 12% growth. Mexico grew by an excellent 36%, although Canada was weaker and fell by 5%. Asia (20% of RoW) also grew by a good 7% overall, led by a quarterly record in China, the group's largest Asian country, also up 7%. Japan grew by 3%, while growth in Malaysia was an excellent 32%. Like-for-like net fees in both our Temporary (Temp) and Permanent (Perm) business were flat year-on-year. Temp represented 57% of Group net fees, and Perm 43%. There was one additional trading day in the quarter in the main markets of Australia, Germany and the UK that is estimated to have increased net fees by around 1%, and therefore our working day adjusted net fees decreased by 1% year-on-year. The Group net fee exit rate was in-line with the calendar adjusted rate of growth in the quarter. <p>Consultant headcount increased by 1% both in the quarter and year-on-year. This included the effect of our annual graduate intake which, as expected, was significantly lower than in recent years. Hays expects Group headcount to remain broadly flat in the second quarter of the fiscal year. A24-Sch (RADIOCOR) 15-10-19 20:53:51 (0775) 5 NNNN
(Il Sole 24 Ore Radiocor Plus) - London, 15 Oct - Euro zone benchmark 10-year sovereign bond yields at 1509 GMT Germany - yield -0.41%; up 0.04 percentage points from the previous close. France - yield -0.15%; up 0.03 percentage points from the previous close. Belgium - yield 0.00%; up 0.17 percentage points from the previous close. Italy - yield 1.05%; up 0.03 percentage points from the previous close. Spain - yield 0.21%; up 0.02 percentage points from the previous close. A24-Zap (RADIOCOR) 15-10-19 17:28:11 (0529) 5 NNNN
Sees extension for a few weeks (Il Sole 24 Ore Radiocor Plus) - Brussels , 15 Oct - Paolo Gentiloni, the European Union's next economy commissioner and a former Italian prime minister, said he thought the extension of the mandate of the current European Commission led by Jean-Claude Juncker has become "inevitable." The work of the current commisison "will be prolonged by a few weeks, I imagine by now it's inevitable," Gentiloni told journalists following a meeting with Juncker. The mandate of the new commission was set to begin November 1 but commissioner candidates proposed by the governments of Hungary, Romania and France failed to pass European parliament hearings and new candidates must be proposed and vetted. A24-Hob (RADIOCOR) 15-10-19 16:25:19 (0481) 5 NNNN
Italy 2019 deficit seen 2.0%/GDP, 2.5% in 2020 (Il Sole 24 Ore Radiocor Plus) - Washington, 15 Oct - The Italian economy is expected to remain flat this year before rising 0.5% in 2020, the International Monetary Fund said in its World Economic Outlook. The IMF cut its outlook for Italy by 0.1 and 0.3 percentage points compared to its WEO update in July. 'Both the 2019 and 2020 forecasts were marked down for Italy, owing to softening private consumption, a smaller fiscal impulse, and a weaker external environment,' the IMF said. In countries with high debt, including France, Italy, and Spain, fiscal buffers should be rebuilt gradually while protecting investment, the fund said. The IMF forecast Italy's deficit to be at 2.0% of GDP this year before rising to 2.5% in 2020. Gross debt is expected to be at 133.2% of GDP in 2019 and 133.7% in 2020, according to the IMF outlook. Credibly committing to a downward-sloping debt path over the medium term is particularly critical in Italy, where debt and gross financing needs are large, the fund said. A24-Cia (RADIOCOR) 15-10-19 15:19:52 (0431) 5 NNNN
Aug govt tax receipts 41.4 bln eur, down 5.3% (Il Sole 24 Ore Radiocor Plus) - Milan, 15 Oct - The Bank of Italy added that government tax receipts fell 5.3% year on year to 41.4 billion euros in August. In the first eight months of the year, tax receipts dropped 1.1% to 277.2 billion euros. A24-Web (RADIOCOR) 15-10-19 11:58:50 (0231) 5 NNNN
Central govt debt down 3.2 bln eur (Il Sole 24 Ore Radiocor Plus) - Milan, 15 Oct - Italy's public debt totalled 2.463 trillion euros in August, down 3.3 billion from July, according to the Bank of Italy. The debt of the central government fell 3.2 billion euros and the debt of local government slipped 0.1 billion euros. The debt of public pension funds remained unchanged. A24-Web (RADIOCOR) 15-10-19 11:50:42 (0224) 5 NNNN
(Il Sole 24 Ore Radiocor Plus) - Milan, 15 Oct - Newspaper headline roundup FINANCIAL TIMES Trump imposes sanctions against Turkish officials. Facebook admits digital currency doubts. Barnier says new withdrawal deal on Brexit 'still possible'. Vodafone puts Germany at heart of grand design to challenge rivals. Bill Gross warns of slow growth and sluggish markets. African swine fever drives up European pork prices. THE WALL STREET JOURNAL US boosts steel tariffs on Turkey, sanctions officials. Former Russia adviser testifies she was alarmed about Ukraine pressure. Johnson & Johnson's legal challenges mount. Barneys' new suitor seeks tie-up with Saks. Chinese inflation surges as pig prices fly high. LES ECHOS French govt asks EDF to analyse its plans for future EPR reactors. US announces sanctions against Turkey. Spain cuts 2019 GDP growth forecast. IL SOLE 24 ORE Italy govt ready to hike taxes on plastic, cigarettes, diesel. Trump announces against Turkey but war front widens. VW freezes large investment in Turkey. CINCO DIAS Spanish govt cuts to 2.1% 2019 GDP growth forecast. Naturgy and Sonatrach buy 42.09% in Medgaz from Mubala. Telefonica, Tesco UK mobile joint venture exceeds 950 mln eur in FY revenue. HANDELSBLATT Barnier sees chances of quickly reaching Brexit deal. Volkswagen postpones decision on new Turkish plant. US imposes sanctions on Turkey - and demands ceasefire. Nordex benefits from strong demand in Europe in the third quarter. A24-Web (RADIOCOR) 15-10-19 10:35:40 (0178) 5 NNNN
Yield unchanged at 1.01% (Il Sole 24 Ore Radiocor Plus) - Milan , 15 Oct - The differential between yields on 10-year Italian government bonds and their German counterparts was broadly steady in early trade, inching down to 1.46 percentage points from 1.47 points at the close Monday. The yield on the benchmark Italian bonds was unchanged at 1.01%. A24-Hob (RADIOCOR) 15-10-19 09:20:23 (0146) 5 NNNN
(Il Sole 24 Ore Radiocor Plus) - London, 14 Oct - In the region's stock market dealings, most sectors were lower, with basic resources shares leading the way south. Banks were also broadly lower. Swiss pharmaceutical companies dipped after reports that the US was considering introducing tariffs on Swiss pharmaceutical products. Shares in the French producer of disposable stationary and shavers Bic sank 2.77% at 63.20 euros in Paris after the company issued a profit warning for 2019 due to lower than expected third quarter sales. Shares of Italian publisher Gedi rallied 15.81% at 0.2930 euros in Milan trade after the company's main shareholder said yesterday a bid from Italian businessman Carlo De Benedetti for a 29.9% stake was "totally inadequate." De Benedetti family holds company Cir, which owns 43% of Gedi, said De Benedetti's offer "did not recognize the real value of the stake to Cir and its shareholders." The offer was reportedly made at a price of 0.25 euros per share. Cir shares gained 0.53% at 0.9450 euros. A24-Zap (RADIOCOR) 14-10-19 18:45:06 (0458) 5 NNNN
(Il Sole 24 Ore Radiocor Plus) - London, 14 Oct - Euro zone benchmark 10-year sovereign bond yields at 1505 GMT Germany - yield -0.46%; down 0.01 percentage points from previous close. France - yield -0.19%; down 0.02 percentage points from previous close. Belgium - yield -0.17%; down 0.02 percentage points from previous close. Italy - yield 1.01%; down 0.01 percentage points from previous close. Spain - yield 0.19%; down 0.02 percentage points from previous close. A24-Zap (RADIOCOR) 14-10-19 17:20:27 (0417) 5 NNNN
Sophos rallies in London, Gedi jumps in Milan (Il Sole 24 Ore Radiocor Plus) - Milan, 14 Oct - Shares in UK security software and hardware maker Sophos soared 35.84% in London after the announcement of a 3.948 billion dollar enterprise value agreed offer from US private equity firm Thoma Bravo. Thoma Bravo is offering the equivalent of 583 pence per share, representing a 37.1% premium to the closing share price on October 11, the last business day before the date of the offer and a 45.6% premium to the daily volume weighted average during the six month at the same date. Thoma Bravo has already received irrevocable undertakings in respect to some 27.2% of existing issued ordinary share capital of Sophos. Shares of Italian publisher Gedi rallied 16.01% Milan trade at 0.2935 euros after the company's main shareholder said yesterday a bid from Italian businessman Carlo De Benedetti for a 29.9% stake was "totally inadequate." De Benedetti family holds company Cir, which owns 43% of Gedi, said De Benedetti's offer "did not recognize the real value of the stake to Cir and its shareholders." The offer was reportedly made at a price of 0.25 euros per share. Cir shares slipped 0.21%. A24-Ver (RADIOCOR) 14-10-19 13:54:05 (0305) 5 NNNN
