— Breaking News

  1. Italy

    Intesa to grow insurance ops in next business plan - CEO

    In subsequent plan aims to become leading insurer in Italy (Il Sole 24 Ore Radiocor Plus) - Milan, 26 Sep - Italian lender Intesa Sanpaolo in its next industrial plan aims to become one of the country's top four insurers over the next three or four years, chief executive Carlo Messina said on the sidelines of a Bloomberg European banking conference. "With the next industrial plan we want to become one of the first 3-4 insurers in the next 3-4 years," he said. "Subsequently, with the following industrial plan, we want to become the number one insurer in Italy," he added noting that there will be synergies with the distribution network and hiring of financial promoters and personnel to develop this sector. A24-Sch (RADIOCOR) 26-09-17 11:48:46 (0252) 5 NNNN

  2. Italy

    Italy Aug asset management net inflow 8.6 bln eur

    Assets under management hit record 2.032 trln eur (Il Sole 24 Ore Radiocor Plus) - Milan , 26 Sep - The net investment inflow in Italian funds totalled 8.6 billion euros in August, down from 10.3 billion in July, according to the trade association Assogestioni. In the first eight months of the year, the inflow reached 75.9 billion euros. Assets under management reached a new record of 2.032 trillion euros, up from 2.021 trillion in July. A24-Hob (RADIOCOR) 26-09-17 11:37:42 (0238) 5 NNNN

  3. Italy

    Leonardo CEO hopes revenue growth tops 3-5% guidance - RPT

    If top line grows, can hire more employees (Il Sole 24 Ore Radiocor Plus) - Milan, 26 Sep - Alessandro Profumo, the new CEO of Italian defence and aerospace company Leonardo, said he hopes the company's revenue growth will top the 3-5% guidance provided by his predecessor Mauro Moretti. "Mauro Moretti said he wanted to grow a little bit more than the market and gave revenue guidance of 3-5%," Profumo said on the sidelines of the Cybertech Europe 2017 conference. "I hope we are able to go above this. If the top line grows, we'll be able to increase the number of Leonardo employees and I think this is also a social obligation." A24-Hob (RADIOCOR) 26-09-17 11:22:21 (0231) 5 NNNN

  4. Italy

    Eni drills offshore Mexico well, ups resource potential

    Mitzon field now estimated to have 350 mln boe in place (Il Sole 24 Ore Radiocor Plus) - Milan, 26 Sep - Italian energy giant Eni said it successfully drilled the MiztA3n-2 well, in the shallow waters of Campeche bay, offshore Mexico, boosting the estimates of the resource in place for Contractual Area 1 to over 1.4 billion barrels of oil equivalent (BOE). The well, located in Contractual Area 1, approximately 200 kilometres west of Ciudad del Carmen, in 33 metres of water depth and 10 kilometres from the Amoca discovery, reached a final depth of 3,430 metres, encountering 185 metres of net oil pay in the Orca Formation, characterized by excellent quality sandstone reservoirs. Well data indicate a single 280 metres thick oil column. Oil gravity is estimated at 28-30 AoAPI. An extensive borehole data acquisition together with a fluid and rock sampling campaign was carried out and the well will now be temporarily suspended. The exploration campaign will continue with the drilling of a well on the Tecoalli discovery. The exploitation of the MiztA3n field, which is now estimated to contain 350 million BOE in place, will be included in the development plan of Area 1 (Eni 100%). In addition, Eni is preparing the development plan for the phase 1 of the Amoca field (early production), which will be submitted to the approval of the local authorities (ComisiA3n Nacional de Hidrocarburos - CNH), with start-up in early 2019. Furthermore, as a result of the first competitive bid round of the Ronda 2, Eni signed today three new exploration and production licenses for Blocks 7, 10 and 14, all located in the Sureste Basin. The Joint Ventures of the new blocks are composed as follows: Block 7 Eni Me'xico 45% (operator), Cairn 30%, Citla 25%; Block 10 Eni Me'xico 100%; Block 14 Eni Me'xico 60% (operator), Citla 40%. A24-Sch (RADIOCOR) 26-09-17 11:19:26 (0226) 5 NNNN

  5. Italy

    Italy Aug non-EU trade surplus 2.530 bln eur -2-

    Exports to China up 26.6% yr/yr, exports to Russia up 20.9% (Il Sole 24 Ore Radiocor Plus) - Milan, 26 Sep - Italian exports to China rose 26.6% year on year in August, while exports to Russia rose 20.9%, those to Mercosur countries increased 16.7%, exports to Turkey rose 14.5% and those to Switzerland were up 11.5%. Exports to Opec countries instead declined 5.9% while those to Asean countries were 1.2% lower and sales to the US slipped 1.1%. Imports from Russia were up 54.7%, while those from India climbed 14.8% and those from Opec countries were 6.4% higher. Imports from Asean countries fell 11.2% while those from Switzerland declined 8.6%. A24-Hob (RADIOCOR) 26-09-17 10:38:05 (0190) 5 NNNN

  6. Italy

    Italy Aug non-EU trade surplus 2.530 bln eur

    Trade surplus ex-energy 5.138 bln eur (Il Sole 24 Ore Radiocor Plus) - Milan, 26 Sep - Italy's trade surplus with non-European Union member states widened to 2.530 billion euros in August from 2.127 billion the year earlier, data from statistics agency Istat showed. The non-energy trade surplus widened to 5.138 billion euros from 4.194 billion in August 2016. Compared to the previous month, Italian exports to non-EU countries rose 4.0% in August while imports were up 2.5%. Energy exports to non-EU countries rose 16.4% while intermediate goods exports advanced 7.1%. Energy imports increased 11.1% while durable goods imports were up 5.3% and intermediate goods imports added 2.8%. Year on year, exports rose 8.2%, with energy exports jumping 31.0%, durable goods exports up 19.9%, intermediate goods exports up 8.0% and non-durable goods exports 7.5% higher. Imports were up 6.1% on the year earlier, with imports in all product categories rising, with the exception of instrumental goods, which were down 8.0%, and non-durable consumer goods, down 7.9%. A24-Hob (RADIOCOR) 26-09-17 10:32:18 (0186) 5 NNNN

  7. Italy

    Economic calendar for September 26

    (Il Sole 24 Ore Radiocor Plus) - New York, 25 Sep - Economic calendar for Tuesday, September 26 01:00 NZD ANZ Business Confidence (Sep) 18.3 01:00 NZD NBNZ Own Activity (Sep) 38.2% 05:00 SGD Industrial Production (YoY) (Aug) 14.2% 21.0% 05:00 SGD Industrial Production (MoM) (Aug) -0.4% 1.0% 06:00 EUR German Import Price Index (MoM) (Aug) 0.1% -0.4% 06:00 EUR German Import Price Index (YoY) (Aug) 2.1% 1.9% 06:45 EUR French Business Survey (Sep) 111 08:00 EUR Italian Trade Balance Non-EU (Aug) 4.53B 08:30 GBP BBA Mortgage Approvals 41.7K 41.6K 08:30 HKD Exports (MoM) (Aug) 7.3% 08:30 HKD Imports (MoM) (Aug) 5.5% 08:30 HKD Trade Balance -29.6B 09:35 EUR German 2-Year Schatz Auction -0.740% 12:00 EUR ECB's Praet Speaks 12:55 USD Redbook (YoY) 3.6% 12:55 USD Redbook (MoM) 0.1% 13:00 USD S&P/CS HPI Composite - 20 s.a. (MoM) (Jul) 0.2% 0.1% 13:00 USD S&P/CS HPI Composite - 20 n.s.a. (MoM) (Jul) 0.7% 0.7% 13:00 USD S&P/CS HPI Composite - 20 n.s.a. (YoY) (Jul) 5.8% 5.7% 13:30 USD FOMC Member Mester Speaks 13:30 BRL Current Account (USD) (Aug) -0.19B -3.40B 13:30 BRL Foreign direct investment (USD) (Aug) 6.55B 4.10B 14:00 USD CB Consumer Confidence (Sep) 120.0 122.9 14:00 USD New Home Sales (MoM) (Aug) 3.3% -9.4% 14:00 USD New Home Sales (Aug) 588K 571K 14:00 USD Richmond Manufacturing Index (Sep) 13 14 14:00 USD Richmond Manufacturing Shipments (Sep) 8 14:00 USD Richmond Services Index (Sep) 22 14:30 USD Dallas Fed Services Revenues (Sep) 14.2 14:30 USD FOMC Member Brainard Speaks 14:30 USD Texas Services Sector Outlook (Sep) 15.1 15:30 USD 4-Week Bill Auction 0.960% 16:45 USD Fed Chair Yellen Speaks 17:00 USD 2-Year Note Auction 1.345% Tentative USD API Weekly Crude Oil Stock 1.443M A24-Zap (RADIOCOR) 25-09-17 22:32:35 (0916) 5 NNNN

  8. Italy

    Falck Renewables buys 92MW US solar PV plant

    Facility to be commissioned this week (Il Sole 24 Ore Radiocor Plus) - Milan, 25 Sep - Italian renewable energy developer and operator Falck Renewables said it has signed an agreement with Canadian Solar to acquire 99% of the 92MW Canadian Solar IS-42 solar photovoltaic plant in North Carolina. Falck is acquiring the plant for 42.8 million US dollars, subject to adjustments at closing, which is expected to take place at the end of November. The project has already been constructed and is expected to begin commercial operations this week. It enjoys a long-term power purchasing agreement (PPA) with Duke Energy Progress. A24-Hob (RADIOCOR) 25-09-17 22:13:06 (0893) 5 NNNN

  9. Italy

    Gentiloni, Macron to meet in Lyon on Weds

    The two leaders will host joint press conference (Il Sole 24 Ore Radiocor Plus) - Rome, 25 Sep - Italian prime minister Paolo Gentiloni and French president Emmanuel Macron will meet on Wednesday in Lyon for a Franco-Italian bilateral meeting. Gentiloni will first tour the exhibition 'Lumiere! L'invention du cinema' before participating in the round of bilateral talks. After the meeting, Gentiloni and Macron will host a joint press conference, the Italian government said. A24-Cia (RADIOCOR) 25-09-17 19:27:40 (0604) 5 NNNN

  10. Italy

    Europe shares end lower after German election -2-

    Banks fall, oil shares rise (Il Sole 24 Ore Radiocor Plus) - London, 25 Sep - Banking stocks led the losses in the region. Shares of Italian lender UniCredit dipped 1.40% to 17.56 euros after its deputy chairman called a report the bank was eyeing a merger with Commerzbank "rubbish". Shares of French rail specialist Alstom fell 1.27% to 33.42 euros while those of German industrial conglomerate Siemens added 0.60% after Handelsblatt reported that they are negotiating an agreement to create a European rail giant. Oil stocks closed higher. In Milan, Saipem rallying 5.28% to 3.62 euros and Eni rising 1.16% to 13.94 euros. In Paris, French oil major Total gained 0.70% to 45.63 euros. A24-Cia (RADIOCOR) 25-09-17 18:43:27 (0557) 5 NNNN

  11. Italy

    Euro zone benchmark 10-year sovereign bond yields

    (Il Sole 24 Ore Radiocor Plus) - London, 25 Sep - Euro zone benchmark 10-year sovereign bond yields Germany - yield 0.41%; down 0.05 percentage points from previous close. France - yield 0.70%; down 0.03 percentage points from previous close. Belgium - yield 0.70%; down 0.03 percentage points from previous close. Italy - yield 2.17%; up 0.01 percentage points from previous close. Spain - yield 1.62%; up 0.01 percentage points from previous close. A24-Zap (RADIOCOR) 25-09-17 17:57:27 (0533) 5 NNNN

  12. Italy

    European shares mixed after German election -2-

    UniCredit shares fall as denies Commerzbank merger designs (Il Sole 24 Ore Radiocor Plus) - London, 25 Sep - Shares of Italian lender UniCredit were down 0.67% after its deputy chairman called a report the bank was eying a merger with Commerzbank "rubbish". Shares of Swiss industrial group ABB were up 0.54% after it said it had reached an agreement to buy GE Industrial Solutions, GE's global electrification solutions business, for 2.6 billion dollars. Anglo-Dutch consumer products manufacturer Unilever instead saw its shares slip 0.64% on the news it has agreed to buy Carver Korea, a leading skincare business in North Asia, for 2.27 billion euros, from Bain Capital Private Equity and Goldman Sachs. Shares of French rail specialist Alstom fell 0.09% while those of German industrial conglomerate Siemens added 0.60% after Handelsblatt reported that they are negotiating an agreement to create a European rail giant. A24-Hob (RADIOCOR) 25-09-17 13:18:17 (0332) 5 NNNN

  13. Italy

    Italy could use veto powers for Tim -2-

    Committee meeting postponed to tomorrow (Il Sole 24 Ore Radiocor Plus) - Milan, 25 Sep - The meeting of the committee scheduled to discuss Vivendi's takeover of Tim, and the potential use by the government of special powers, has been postponed to tomorrow, sources said. The committee will meet tomorrow afternoon in the prime minister's offices. A24-Web (RADIOCOR) 25-09-17 12:46:55 (0311) 5 NNNN

  14. Italy

    Italy could use veto powers for Tim - industry minister

    Govt to examine matter today (Il Sole 24 Ore Radiocor Plus) - Milan, 25 Sep - Italian industry minister Carlo Calenda said that there are "the elements" for the government to use special veto powers regarding the take over of Telecom Italia, which trades under the Tim brand, by the French conglomerate Vivendi. In an interview with the daily La Stampa, Calenda said that foreign investors are welcome in Italy but they have to respect the rules. "In the case of Vivendi-Tim, a notification (of Vivendi's control of Tim) was mandatory and Vivendi didn't do it," he said. On September 13, the Italian market regulator ruled that Vivendi controlled Telecom Italia. A government committee will meet to discuss today the matter. There is media speculation that the government could force Vivendi to sell Telecom Italia's service provider unit Sparkle. A24-Web (RADIOCOR) 25-09-17 12:04:33 (0270) 5 NNNN

  15. Italy

    Italy 10-yr govt bond spread vs Bund rises to 1.74 pct pts

    Yield at 2.19% (Il Sole 24 Ore Radiocor Plus) - Milan , 25 Sep - The differential between yields on 10-year Italian government bonds stood at 1.74 percentage points in morning trade, up from 1.72 points at the close Friday but down from 1.76 points at the opening. The yield on the benchmark Italian bonds rose to 2.19% from 2.17% Friday. A24-Hob (RADIOCOR) 25-09-17 10:23:27 (0192) 5 NNNN

  16. Italy

    Fincantieri to build ship for Cunard

    Due to join Cunard fleet in 2022 (Il Sole 24 Ore Radiocor Plus) - Milan, 25 Sep - The Italian ship builder Fincantieri said that it has signed a memorandum of agreement for the construction of a next-generation cruise ship for Cunard, the luxury brand of the cruise company Carnival. The agreement will become operational when all the financial and technical conditions will be satisfied, it added. The ship will be built at the Monfalcone yard and join the Cunard's fleet in 2022. The 113,000 ton ship will carry 3,000 guests and be the 249th to fly the Cunard flag, the first since 2010 when Fincantieri delivered the "Queen Elizabeth", three years after the "Queen Victoria" was built in 2007. It will mark the first time since 1998 that the luxury cruise brand will have four ships in simultaneous service. A24-Web (RADIOCOR) 25-09-17 10:07:15 (0185) 5 NNNN

  17. Italy

    Ascopiave ends tie-up talks with Aeb Group/Gelsia

    Parties do not rule out future partnerships (Il Sole 24 Ore Radiocor Plus) - Milan, 25 Sep - The Italian natural gas group Ascopiave Group said that it is terminating tie-up talks with its peer Aeb Group/Gelsia but does not rule out partnership initiatives in the future. "The Ascopiave Group and the Aeb Group agreed to consensually stop their prospective business combination both for their gas and energy sales and distribution business in Lombardia. After having carried on intense and challenging comparative activities with transparency and collaboration, the parties noted that there aren't currently conditions for the completion of the operation," it said. "The two groups acknowledge the affinity of the values from which they are guided, as well as the history similarities, the business model and the market approach, that represent, for both, a strong link with the reference territory and excellence in the services provided; therefore, it's a common will of both parties to keep relationships based on dialogue and confrontation on the future challenges that energy market will present, not excluding, if conditions will exist, the development of future new partnership initiative," it added. A24-Web (RADIOCOR) 25-09-17 09:46:02 (0171) 5 NNNN

  18. Italy

    Constructive spirit in UK PM May's Brexit speech - EU's Barnier

    Priority is to protect the rights of citizens (Il Sole 24 Ore Radiocor Plus) - New York, 22 Sep - The European Union's chief Brexit negotiator Michel Barnier praised UK Prime Minister Theresa May's speech in Florence, Italy. "In her speech in Florence, Prime Minister Theresa May has expressed a constructive spirit which is also the spirit of the European Union during this unique negotiation," Barnier said in a statement. "The speech shows a willingness to move forward, as time is of the essence. We need to reach an agreement by autumn 2018 on the conditions of the United Kingdom's orderly withdrawal from the European Union. " he added. Barnier said that prime minister May's words represent "a step forward" but insisted that they must "now be translated into a precise negotiating position of the UK government." "Our priority is to protect the rights of citizens. EU27 citizens in the United Kingdom must have the same rights as British citizens today in the European Union," Barnier said. A24-Zap (RADIOCOR) 22-09-17 20:58:27 (0738) 5 NNNN

  19. Italy

    Juventus FY net 42.6 mln eur vs 4.1 mln

    FY revenue 562 mln eur, up 45% (Il Sole 24 Ore Radiocor Plus) - Milan, 22 Sep - The Italian football club Juventus said that in the full year to June 30 its net profit rose to 42.6 million euros from 4.1 million a year earlier as sales grew 45% to 562 million. The top line was boosted by the club's performance in the Champions League tournament, where it finished as runner-ups. The tournament contributed over 110 million euros in revenue. The operating profit grew 233% to 67.4 million euros. Juventus said that it will retain all earnings. The club expects to post a loss this year but noted that its earnings will be conditioned by its performance on the pitch. A24-Web (RADIOCOR) 22-09-17 18:43:20 (0523) 5 NNNN

  20. Italy

    Juventus FY net 42.6 mln eur vs 4.1 mln

    FY revenue 562 mln eur, up 45% (Il Sole 24 Ore Radiocor Plus) - Milan, 22 Sep - The Italian football club Juventus said that in the full year to June 30 its net profit rose to 42.6 million euros from 4.1 million a year earlier as sales grew 45% to 562 million. The top line was boosted by the club's performance in the Champions League tournament, where it finished as runner-ups. The tournament contributed over 110 million euros in revenue. The operating profit grew 233% to 67.4 million euros. Juventus said that it will retain all earnings. The club expects to post a loss this year but noted that its earnings will be conditioned by its performance on the pitch. A24-Web (RADIOCOR) 22-09-17 18:43:18 (0522) 5 NNNN