— Breaking News

  1. Italy

    Italy 10-yr govt bond spread vs Bund dips to 1.79 pct pts

    Was 1.80 pts at the close Monday (Il Sole 24 Ore Radiocor Plus) - Milan, 28 Mar - The differential between yields on 10-year Italian government bonds and their German counterparts dipped to 1.79 percentage points in early trade from 1.80 points at the close Monday. A24-Sch (RADIOCOR) 28-03-17 11:05:07 (0202) 5 NNNN

  2. Italy

    Italy Jan industrial orders down 2.9% mth/mth

    Turnover down 3.5% mth/mth (Il Sole 24 Ore Radiocor Plus) - Milan, 28 Mar - Industrial orders in Italy in January fell 2.9% from the earlier month while on an annual basis it rose on unadjusted 8.6%, according to data released by national statistical office Istat. Orders from foreign markets rose 2.6% month on month while domestic orders contracted 6.6%. On an unadjusted annual basis, Istat noted that the most significant increase was in the order of transport equipment, up 21.6% while the biggest fall is in the orders of computers and electronic and optical devices, which were down 15.8%. Turnover in the month fell 3.5% month on month, with a 5.4% on fall on foreign markets and a 2.3% drop in the domestic one. In the past three months, turnover was up 1.7% compared with the earlier three months. On a workday adjusted basis, turnover rose an annual 1.5%, with a 1.5% rise on the domestic market and a 1.3% on the foreign one. On an unadjusted basis, turnover for energy rose 3.5% from December while for capital goods it fell 5.1%, for intermediate goods fell 3.5% and for consumer goods contracted 3.4%. A24-Sch (RADIOCOR) 28-03-17 10:48:02 (0198) 5 NNNN

  3. Italy

    Economic calendar for March 28

    (Il Sole 24 Ore Radiocor Plus) - New York, 27 Mar - Economic calendar for Tuesday, March 28 06:45 EUR French Consumer Spending (MoM) (Feb) 0.1% 0.6% 07:00 EUR ECB's Coeure Speaks 09:00 EUR Italian Industrial New Orders (YoY) (Jan) -0.9% 09:00 EUR Italian Industrial New Orders (MoM) (Jan) 2.8% 09:00 EUR Italian Industrial Sales (MoM) (Jan) 2.60% 09:00 EUR Italian Industrial Sales (YoY) (Jan) 9.40% 09:35 GBP 5-Year Treasury Gilt Auction 0.578% 09:35 EUR German 2-Year Schatz Auction -0.920% 11:45 EUR ECB's Coeure Speaks 12:30 USD Goods Trade Balance (Feb) -66.60B -68.84B 12:30 USD Wholesale Inventories (MoM) 0.2% -0.2% 12:55 USD Redbook (MoM) -0.6% 12:55 USD Redbook (YoY) 1.2% 13:00 USD S&P/CS HPI Composite - 20 s.a. (MoM) (Jan) 0.7% 0.9% 13:00 USD S&P/CS HPI Composite - 20 n.s.a. (YoY) (Jan) 5.6% 5.6% 13:00 USD S&P/CS HPI Composite - 20 n.s.a. (MoM) (Jan) 0.3% 14:00 USD CB Consumer Confidence (Mar) 114.0 114.8 14:00 USD Richmond Manufacturing Index (Mar) 16 17 14:00 USD Richmond Manufacturing Shipments (Mar) 16 14:00 USD Richmond Services Index (Mar) 15 14:10 CAD BoC Gov Poloz Speaks 14:30 USD Dallas Fed Services Revenues (Mar) 14.1 14:30 USD Texas Services Sector Outlook (Mar) 15.6 15:30 USD 4-Week Bill Auction 0.745% 15:30 USD 52-Week Bill Auction 0.850% 16:45 USD FOMC Member George Speaks 16:50 USD Fed Chair Yellen Speaks 17:00 USD 5-Year Note Auction 1.937% 17:00 USD FOMC Member Kaplan Speaks 17:00 USD FOMC Member Kaplan Speaks 20:30 USD FOMC Member Powell Speaks 21:00 KRW Manufacturing BSI Index (Apr) 79 23:50 JPY Retail Sales (YoY) (Feb) 0.5% 1.0% A24-Zap (RADIOCOR) 27-03-17 22:33:47 (0894) 5 NNNN

  4. Italy

    London remains top financial centre -2-

    Luxembourg top eurozone financial centre (Il Sole 24 Ore Radiocor Plus) - Milan, 27 Mar - Zurich was the top financial centre in Continental Europe, ranking 11th overall, according to the survey. Luxembourg was the highest ranking financial centre in the eurozone, ranking 18th globally. Frankfurt was 23th globally and Paris 29th. Milan was Italy's main financial centre and ranked 56th globally. A24-Web (RADIOCOR) 27-03-17 21:49:25 (0828) 5 NNNN

  5. Italy

    European EV sales seen at 20% total in 2030 - study

    Diesel cars seen with 9% market share in 2030 (Il Sole 24 Ore Radiocor Plus) - Milan, 27 Mar - Electric vehicle registrations are expected to make up 20% of the total in Europe by 2030, according to a study from Alix Partners, when diesel cars are seen dropping to 9% of the total and increasingly being seen as costly and polluting. According to the study, by 2030 hybrid vehicles powered by gasoline motors are seen with a 28% market share in 2030, followed by gasoline vehicles with 25%, electric vehicles with a 20% stake and electric plug-in vehicles with an 18% stake. Diesel cars are seen falling to the bottom of the sales ranking, with a 9% share. They are expected to begin losing market share starting in 2020, the study showed, amid more string European C02 emission requirements. Currently, EVs in Italy account for some 0.1% of new registrations compared to 1% in Germany, France and the UK and 10% in Norway, where a number of measures have been implemented to encourage EV purchases. A24-Hob (RADIOCOR) 27-03-17 20:04:13 (0622) 5 NNNN

  6. Italy

    Euro zone benchmark 10-year sovereign bond yields

    (Il Sole 24 Ore Radiocor Plus) - London, 27 Mar - Euro zone benchmark 10-year sovereign bond yields Germany - yield 0.41%; down 0.01 percentage points from previous close. France - yield 0.98%; down 0.03 percentage points from previous close. Belgium - yield 0.88%; down 0.02 percentage points from previous close. Italy - yield 2.21%; down 0.04 percentage points from previous close. Spain - yield 1.58%; down 0.00 percentage points from previous close. A24-Zap (RADIOCOR) 27-03-17 19:20:03 (0561) 5 NNNN

  7. Italy

    Europe shares end lower on Trump's policy uncertainty -2-

    Banking, energy stocks drop (Il Sole 24 Ore Radiocor Plus) - London, 27 Mar - In the region's stock market dealings, banking shares were among the biggest decliners as the markets turned to risk aversion. Energy stocks also dropped as they tracked a decline in crude oil prices. French oil major Total dropped 0.18% to 46.13 euros in Paris dealings, after it announced it is entering a partnership with Borealis and Nova to form a joint venture with the aim of building an ethane steam cracker and a new Borstar polyethylene unit on the US Gulf Coast. Bucking the trend, shares of Italian sports car manufacturer Ferrari rallied 2.87% to 68.00 euros, leading the gains on the Milan FTSE MIB index, following the Ferrari racing team's victory in the Formula 1 Grand Prix season opener Sunday. Sebastian Vettel racked up his 43rd career Grand Prix victory and gave Ferrari its first win since 2015 in the season start in Australia. In Paris dealings, the stocks most exposed to the economic cycle dropped, with ArcelorMittal losing 4.87% at 7.59 euros, and Schneider Electric falling 1.44% to 66.34 euros. A24-Cia (RADIOCOR) 27-03-17 18:48:39 (0523) 5 NNNN

  8. Italy

    Banca Ifis buys 537 mln eur worth of NPLs

    Buys 2 portfolios (Il Sole 24 Ore Radiocor Plus) - Milan, 27 Mar - The Italian bank Banca Ifis said that it has closed two deals for the purchase of about 573 million euros, in nominal value, worth of non-performing loans. The first deal, closed with a leading unnamed international investment bank, consists of about 3,500 positions for a nominal value of 413 million euros, and includes mixed secured bank loans, totalling 48% of nominal value, and unsecured loans originating from overdrafts, mortgages or personal loans to individuals and small businesses. More specifically, the portfolio is made up of 62% corporate loans and the rest of retail loans. The second deal calls for the purchase from an international banking group of a portfolio of over 13,000 positions worth about 160 million euros in nominal value. The loans are primarily unsecured consumer loans. The overall value of all NPLs managed by Banca Ifis, as of February, 28, amounted to 9.9 billion euros comprising about 1.40 million positions. A24-Web (RADIOCOR) 27-03-17 16:36:09 (0448) 5 NNNN

  9. Italy

    TPS shares to begin trading on Milan's AIM segment tomorrow

    Borsa Italiana okayed listing Friday (Il Sole 24 Ore Radiocor Plus) - Milan, 27 Mar - TPS, an Italian company specialized in aeronautic engineering, said that its shares are slated to begin trading on the AIM Italia segment of the Milan exchange tomorrow. Borsa Italiana, the operator of the Milan exchange, gave the go-ahead to the listing of both TPS ordinary shares and 2017-2020 warrants on Friday. Following the share offering, G&D Srl will remain TPS' controlling shareholder, with an 80.5% stake, followed by Massimiliano Anguillesi, with 4.2%. The remaining 15.2% will be owned by other investors with less than 5% stakes. A24-Hob (RADIOCOR) 27-03-17 14:08:33 (0384) 5 NNNN

  10. Italy

    Europe shares lower at mid-session on US jitters -2-

    Banks, energy firms dip; Ferrari rallies (Il Sole 24 Ore Radiocor Plus) - Milan, 27 Mar - On the macroeconomic front, data released in the morning showed that German business confidence rose to its highest level since June 2011. Germany's business climate index in March rose to 112.3 points from 111.0 points in February, according to data released by think tank Ifo. The reading was above economists' expectations of a reading of 111.0. In the region's stock market dealings, banking shares were among the biggest decliners as the markets turned to risk aversion. Energy stocks also dropped as they tracked a decline in crude oil prices. Shares of Italian sports car manufacturer Ferrari rallied 1.89% in Milan trade, leading the gains on the FTSE MIB index, following the Ferrari racing team's victory in the Formula 1 Grand Prix season opener Sunday. Sebastian Vettel racked up his 43rd career Grand Prix victory and gave Ferrari its first win since 2015 in the season start in Australia. Shares of Italian eyewear and lifestyle products group Italia Independent sank 3.84% in Milan trade, after the company reported a 2016 loss and a sharp decline in revenue. Friday evening, Italia Independent announced it swung to a net loss of 12.2 million euros in 2016 from a profit of 475,000 the year earlier, as revenue decreased 30% to 27.7 million. Revenue fell in all major markets, with the exception of the US, where it was up 33%. Revenue in Italy slumped 40%. EBITDA came in at a negative 8.3 million. A24-Ver (RADIOCOR) 27-03-17 14:00:11 (0372) 5 NNNN

  11. Italy

    Amundi purchase of Pioneer cleared by EU

    Deal doesn't raise competition concerns (Il Sole 24 Ore Radiocor Plus) - Brussels , 27 Mar - The European Commission said it has authorized French asset manager Amundi's acquisition of asset manager Pioneer from Italian lender UniCredit. The commission said the transaction didn't raise competition concerns, pointing to the lack of overlap of the two businesses, the limited impact on Amundi's dimensions of the tie-up and the existence of a certain number of competitors in the markets where Amundi is present. Amundi is a subsidiary of French bank Credit Agricole. A24-Hob (RADIOCOR) 27-03-17 13:12:53 (0303) 5 NNNN

  12. Italy

    Italia Independent shares fall on FY loss, sales drop

    Stock down 3.31% (Il Sole 24 Ore Radiocor Plus) - Milan, 27 Mar - Shares of Italian eyewear and lifestyle products group Italia Independent were lower in Milan trade, after the company reported a 2016 loss and a sharp decline in revenue. At 0900 GMT, Italia Independent shares were down 3.31% at 4.436 euros. Friday evening, Italia Independent announced it swung to a net loss of 12.2 million euros in 2016 from a profit of 475,000 the year earlier, as revenue decreased 30% to 27.7 million. Revenue fell in all major markets, with the exception of the US, where it was up 33%. Revenue in Italy slumped 40%. EBITDA came in at a negative 8.3 million euros. "2016 was a very difficult year, we paid for some past errors in an increasingly competitive market," said Italia Independent chief executive Giovanni Carlino. "At the moment the new management has stepped in to reduce the cost base (closure of stores and of nonperforming branches, reinforce certain management positions and improve the control over credit," note analysts at brokerage Equita. They note that Italia Independent must also implement additional measures, such as reducing the level of stocks, while the group's turnaround is a "long and complex" process, with a low likelihood of seeing a significant improvement on the profitability front this year. A24-Hob (RADIOCOR) 27-03-17 11:16:26 (0216) 5 NNNN

  13. Italy

    Luxottica, Essilor to hold equal governance for first 3 yrs

    After board members to be named notwithstanding origin (Il Sole 24 Ore Radiocor Plus) - Milan, 27 Mar - French ophthalmic specialist Essilor and Italian eyewear manufacturer Luxottica will have an equal weight in the governance structure of their merged group for the first three years but then the board will be indicated notwithstanding to which group they previously belonged to, according to the shareholders pact between Essilor and Delfin, the holding company of the Del Vecchio family that owns 62.5% of Luxottica. The first board of the merged company will have eight members named by Delfin-Luxottica and eight by Essilor. The initial term for the board will be in force until the approval of the 2019 financial statements if the completion of the deal takes place within six months from he date of the Essilor shareholders meeting or to the approval of the 2020 financial statements if the execution takes place from the sixth month after this meeting. A24-Sch (RADIOCOR) 27-03-17 10:53:04 (0205) 5 NNNN

  14. Italy

    Newspaper headline round-up

    (Il Sole 24 Ore Radiocor Plus) - Milan, 27 Mar - Newspaper headline round-up FINANCIAL TIMES Trump attacks Republicans for wrecking health plans. Brexit talks to be tough test for May. South Korea prosecutors seek Park Geun-hye arrest. Russians protest in thousands against corruption. Reviving Deutsche in US is priority for CEO Cryan. Merkel gains unexpected lift in regional poll. THE WALL STREET JOURNAL White House opens door to Democrats after bill failure. Thousands across Russia protest corruption. Merkel's party scores election win, in key test of voter sentiment. Foreign robots invade American factory floors. UK criticizes tech firms in wake of terrorist attack. LES ECHOS Banks begin maneuvering for Brexit. Paris property prices rise. Valeo, French patent champion. Merkel's CDU party wins test vote in Germany. IL SOLE 24 ORE Italian regions push start-ups. The Brexit timeline: 700 days of talks to settle on divorce. How to buy a house with the help of Italian tax system. Italy launches 'G7' of culture. CINCO DIAS Brussels proposes dissolution of banking authority following Brexit. 60 years and 4 days after EU foundation, Brexit breaks the union. Spanish banking sector sees the light at the end of the tunnel. Banks refinance OHL, paving way for strategic plan. HANDELSBLATT No change of power in the Saar region: CDU wins state election. Hapag-Lloyd posts losses amid uncertainty. Euro climbs to year-high, dollar under pressure. Board of directors criticizes state bank KfW. A24-Hob (RADIOCOR) 27-03-17 10:29:19 (0198) 5 NNNN

  15. Italy

    Italy 10-yr govt bond spread vs Bund rises to 1.82 pct pts

    Yield at 2.20% (Il Sole 24 Ore Radiocor Plus) - Milan , 27 Mar - The differential between yields on 10-year Italian government bonds and their German counterparts inched up to 1.82 percentage points in early trade from 1.81 points at the close Friday. The yield on the benchmark Italian bonds fell to 2.20% from 2.24% Friday, as weakness on European stock markets benefits fixed income investments. A24-Hob (RADIOCOR) 27-03-17 10:04:05 (0185) 5 NNNN

  16. Italy

    Ferrari shares gain after Grand Prix season opener victory

    Stock up 1.74% (Il Sole 24 Ore Radiocor Plus) - Milan , 27 Mar - Shares of Italian sports car manufacturer Ferrari were higher in Milan trade, following its racing team's victory in the Formula 1 Grand Prix season opener Sunday. At 0815 GMT, Ferrari shares were up 1.74% at 67.25 euros while the benchmark FTSE MIB was 0.68% lower at 20,050.02 points. Sebastian Vettel racked up his 43rd career Grand Prix victory and gave Ferrari its first win since 2015 in the season start in Australia. A24-Hob (RADIOCOR) 27-03-17 09:30:06 (0165) 5 NNNN

  17. Italy

    Euro zone benchmark 10-year sovereign bond yields

    (Il Sole 24 Ore Radiocor Plus) - London, 24 Mar - Euro zone benchmark 10-year sovereign bond yields Germany - yield 0.42%; up 0.01 percentage points from previous close. France - yield 1.00%; down 0.03 percentage points from previous close. Belgium - yield 1.02%; up 0.12 percentage points from previous close. Italy - yield 2.24%; down 0.01 percentage points from previous close. Spain - yield 1.60%; down 0.02 percentage points from previous close. A24-Zap (RADIOCOR) 24-03-17 18:56:50 (0524) 5 NNNN

  18. Italy

    Europe shares end mixed over US healthcare bill -2-

    RCS rallies in Milan (Il Sole 24 Ore Radiocor Plus) - London, 24 Mar - In Milan dealings, shares in Italian publisher RCS Mediagroup jumped 11.71% at 1.202 euros, on reports investor Diego Della Valle increased his stake in the media group. The stock rallied this week after the company returned to profit and added gains on reports that the head of luxury shoemaker Tod's spent nearly 1.5 million euros to buy an additional 0.3% of RCS on March 23 at a price of 0.9572 euros. Shares of Italian apparel retailer Stefanel closed 47.40% higher at 0.19 euros following the announcement of a debt restructuring agreement. Before the start of trade, Stefanel said that it had reached an agreement with Attestor Capital and Oxy Capital Italia on a framework for the restructuring of its debt, capital reinforcement and a turnaround of the company. Also in Milan, shares of Italian gas distribution firm Italgas closed up 3.59% to 4.09 euros following the release of 2016 financial results in line with expectations. A24-Cia (RADIOCOR) 24-03-17 18:32:48 (0507) 5 NNNN

  19. Italy

    Europe shares end mixed over US healthcare bill

    FTSE 100 down 0.05%, DAX up 0.20%, CAC 40 down 0.24% (Il Sole 24 Ore Radiocor Plus) - London, 24 Mar - European stock prices closed mixed ahead of a highly-anticipated vote on a bill to repeal and replace the Affordable Care Act, otherwise known as Obamacare. The vote is seen as a test for White House's ability to push US President Donald Trump's business-friendly agenda through Congress. Stocks posted sharp losses yesterday after the vote was postponed following disagreements with the ultra-conservative House Freedom Caucus and moderate Republicans. The markets also digested a host of earnings reports and trading updates from European companies, including UK engineering group Smiths and Italian gas distribution company Italgas. On the macroeconomic front, data released in the morning showed that business growth in the euro zone jumped to a near six-year high. The London FTSE 100 closed down 0.05% at 7,336.82 points, the Frankfurt DAX rose 0.20% to 12,064.27 points, the Paris CAC 40 declined 0.24% to 5,020.90 points, in Milan the FTSE MIB ended up 0.10% at 20,188.02 points and in Madrid the IBEX 35 ended down 0.15% at 10,309.40 points. A24-Cia (RADIOCOR) 24-03-17 18:04:52 (0488) 5 NNNN

  20. Italy

    H-Farm FY revenue 31.9 mln eur, up 30%

    To buy back 5 mln eur in shares (Il Sole 24 Ore Radiocor Plus) - Milan , 24 Mar - Italian incubator H-Farm said its revenue amounted to 31.9 million euros in 2016, up 30% on the year earlier. The increase in revenue came despite a net loss of 6.2 million euros and a negative EBITA of 3 million. H-Farm, whose shares are quoted on the AIM segment of the Milan exchange, said it planned to buy back a total of 5 million euros in shares, also to be used for extraordinary transactions. A24-Hob (RADIOCOR) 24-03-17 16:17:12 (0407) 5 NNNN