— Breaking News

  1. Italy

    Veneto banks NPL sale to NGA enters final stage

    Economy min authorizes transfer to vehicle (Il Sole 24 Ore Radiocor Plus) - Rome, 23 Feb - Italian economy minister Pier Carlo Padoan has cleared the sale to vehicle SGA of non-performing loans from the regional banks Veneto Banca and Banca Popolare di Vicenza which had to be wound down under insolvency proceedings, the Treasury said. The finalization of the transaction will allow SGA, the vehicle formerly used for the liquidation of Banco di Napoli, to manage the NPL portfolio. A24-Cia (RADIOCOR) 23-02-18 21:23:23 (0784) 5 NNNN

  2. Italy

    European shares end mostly higher on Fed, earnings focus -2-

    Car makers, tech stocks among top movers (Il Sole 24 Ore Radiocor Plus) - London, 23 Feb - In the region's stock market dealings, sectors were mixed. Auto and retail stocks were among the biggest decliners, while telecoms were broadly higher. Shares of the French automobile components manufacturer Valeo sank 11.09% to 54.82 euros in Paris after the group released disappointing full year results and a concerning 2018 guidance. German car maker Volkswagen closed down 0.30% at 166.80 euros after it said that net income for 2017 increased to 11.35 billion euros, or 22.63 euros per share, from 5.14 billion euros, or 10.24 euros per share, the year before. Revenues rose to 230.68 billion euros from 217.27 billion in 2016. Telecom Italia shares closed up 2.15% to 0.73 euros in Milan trade following a report that a planned joint venture with Canal+ and the related purchase of content from Italian broadcaster Mediaset were being shelved. According to financial daily Il Sole 24 Ore, the end to plans for the joint venture should be ratified in a Telecom Italia board meeting March 6. One Milan broker said the fact the JV is no longer being pursued is "positive news, in that it distances the risk of conflict of interest." A24-Cia (RADIOCOR) 23-02-18 18:31:44 (0550) 5 NNNN

  3. Italy

    Euro zone benchmark 10-year sovereign bond yields

  4. Italy

    RCS Mediagroup debt falling by 8 mln eur per month - CEO

    No return to dividend for now, debt reduction a priority (Il Sole 24 Ore Radiocor Plus) - Milan, 23 Feb - Italian publisher RCS Mediagroup's debt dropped by 8 million euros per month over the last 18 months, president and chief executive Urbano Cairo said. "When I arrived debt was at 430 million euros. I was rising by 8 million euros per month, now it's falling by 8 million," the entrepreneur said on the sidelines of a conference. Asked about a possible return to paying dividends, Cairo said, "not now, let's see." He said further cutting debt remains a priority. Cairo added that margins increased significantly in 2017. A24-Cia (RADIOCOR) 23-02-18 16:47:13 (0473) 5 NNNN

  5. Italy

    EQT closes eighth equity fund at 10.75 bln eur

  6. Italy

    Italy 2017 eyewear output up 2.9% -2-

  7. Italy

    Italy 2017 eyewear output up 2.9%

  8. Italy

    Italy 2018 new NPL-to-loan ratio 2.5% vs 3.2% 2017 - survey

  9. Italy

    Italy 2017 electric car registrations up 34%

    Represent only 0.07% market (Il Sole 24 Ore Radiocor Plus) - Milan , 23 Feb - Registrations of new electric cars in Italy shot up 34% in 2017, but still represented only 0.07% of the overall market, according to figures provided by Federmotorizzazione. The trade association noted that in the European Union as a whole, a total of just 150,000 electric cars were registered last year, representing 1% of the total. The faster spread of so-called e-mobility in Italy has been impeded by a lack of charging stations and other infrastructure. Added to this is the fact that Italy's car fleet has a relatively high portion of older, polluting vehicles. Simonpaolo Buongiardino, president of Federmotorizzazione and mobility trade association Assomobilita, noted that in Italy there are some 36 million cars and 8 million commercial vehicles, 41% of which are classified as categories before Euro 3. In general, he said the average age of an auto in Italy is about 11 years, one of longest averages in Europe. A24-Hob (RADIOCOR) 23-02-18 15:22:01 (0424) 5 NNNN

  10. Italy

    Europe shares little changed in lackluster trade -2-

    Valeo dips; Standard Life Aberdeen, Telecom Italia rally (Il Sole 24 Ore Radiocor Plus) - Milan, 23 Feb - In the region's stock market dealings, sectors were mixed. Auto and retail stocks were among the biggest decliners, while telecoms were broadly higher. Shares of the French automobile components manufacturer Valeo sank 10.64% in Paris after the group released disappointing full year results and a concerning 2018 guidance. Valeo posted a 4% drop in 2017 net profit to 886 million euros due to a charge stemming from a recent US tax reform. Adjusted to the charge, the bottom line rose 8% to 1 billion euros. Operating margin was up 11% to 1.5 billion euros and sales grew 12% to 18.6 billion. The broker Aurel BGC described the results are "more than disappointing" and noted that there is a lack of visibility about the group's growth and profitability in the 2018-2021 period. Analysts expressed concern about growth prospects and expected pressure on margins and losses at the joint venture created in 2016 with Siemens, Valeo Siemens eAutomotive. Valeo forecast sales growth of around 8% for 2018 compared with market expectations of a 12% increase. In London, UK investment company Standard Life Aberdeen rallied 1.92% after announcing the sale of its insurance business for 2.930 billion pounds to service provider Phoenix Group Holdings. The acquisition encompasses all of Standard Life Aberdeen's (SLA) UK and European life insurance business. SLA will retain its UK retail platforms and advice business, it added. Phoenix said that the deal will create an enlarged group with 240 billion pounds of legacy assets and 10.4 million policyholders. The deal is expected to generate a total of 5.5 billion pounds of additional aggregate cashflows, of which 1.0 billion is expected to be generated between 2018-2022 andAL4.5 billion from 2023 onwards, it said. Telecom Italia shares were up 1.45% in Milan trade following a report that a planned joint venture with Canal+ and the related purchase of content from Italian broadcaster Mediaset were being shelved. According to financial daily Il Sole 24 Ore, the end to plans for the joint venture should be ratified in a Telecom Italia board meeting March 6. One Milan broker said the fact the JV is no longer being pursued is "positive news, in that it distances the risk of conflict of interest." A24-Ver (RADIOCOR) 23-02-18 13:59:46 (0371) 5 NNNN

  11. Italy

    Europe shares little changed in lackluster trade -2-

    Valeo dips; Standard Life Aberdeen, Telecom Italia rally (Il Sole 24 Ore Radiocor Plus) - Milan, 23 Feb - In the region's stock market dealings, sectors were mixed. Auto and retail stocks were among the biggest decliners, while telecoms were broadly higher. Shares of the French automobile components manufacturer Valeo sank 10.64% in Paris after the group released disappointing full year results and a concerning 2018 guidance. Valeo posted a 4% drop in 2017 net profit to 886 million euros due to a charge stemming from a recent US tax reform. Adjusted to the charge, the bottom line rose 8% to 1 billion euros. Operating margin was up 11% to 1.5 billion euros and sales grew 12% to 18.6 billion. The broker Aurel BGC described the results are "more than disappointing" and noted that there is a lack of visibility about the group's growth and profitability in the 2018-2021 period. Analysts expressed concern about growth prospects and expected pressure on margins and losses at the joint venture created in 2016 with Siemens, Valeo Siemens eAutomotive. Valeo forecast sales growth of around 8% for 2018 compared with market expectations of a 12% increase. In London, UK investment company Standard Life Aberdeen rallied 1.92% after announcing the sale of its insurance business for 2.930 billion pounds to service provider Phoenix Group Holdings. The acquisition encompasses all of Standard Life Aberdeen's (SLA) UK and European life insurance business. SLA will retain its UK retail platforms and advice business, it added. Phoenix said that the deal will create an enlarged group with 240 billion pounds of legacy assets and 10.4 million policyholders. The deal is expected to generate a total of 5.5 billion pounds of additional aggregate cashflows, of which 1.0 billion is expected to be generated between 2018-2022 andAL4.5 billion from 2023 onwards, it said. Telecom Italia shares were up 1.45% in Milan trade following a report that a planned joint venture with Canal+ and the related purchase of content from Italian broadcaster Mediaset were being shelved. According to financial daily Il Sole 24 Ore, the end to plans for the joint venture should be ratified in a Telecom Italia board meeting March 6. One Milan broker said the fact the JV is no longer being pursued is "positive news, in that it distances the risk of conflict of interest." A24-Ver (RADIOCOR) 23-02-18 13:59:44 (0370) 5 NNNN

  12. Italy

    Italy sells 2 bln eur in zero-coupon bonds at higher yield

  13. Italy

    Telecom Italia shares up, Canal+ JV plans reportedly axed -2-

    Reportedly chose advisors for network spin-off (Il Sole 24 Ore Radiocor Plus) - Milan, 23 Feb - Reuters reported that Telecom Italia has chosen Credit Suisse and Goldman Sachs to advise on the spin-off of its network, plans for which are also expected to be revealed March 7. The spin-off process could take more than a year. Meanwhile, Telecom Italia's board is expected to hold an extraordinary meeting today to decide on whether or not to accept an offer from Italian infrastructure fund F2i and towers operator RaiWay for its majority-owned broadcasting unit Persidera. A24-Hob (RADIOCOR) 23-02-18 11:05:06 (0244) 5 NNNN

  14. Italy

    Telecom Italia shares up as Canal+ JV plans reportedly axed

    Mediaset shares down 0.25% (Il Sole 24 Ore Radiocor Plus) - Milan, 23 Feb - Telecom Italia shares were higher in Milan trade, following a report that a planned joint venture with Canal+ and the related purchase of content from Italian broadcaster Mediaset were being shelved. At 0940 GMT, Telecom Italia shares were up 1.56% to 0.73 while Mediaset was down 0.25% at 3.15 euros. Milan's benchmark FTSE MIB index was up 0.42% to 22,558.33 points. According to financial daily Il Sole 24 Ore, the end to plans for the joint venture should be ratified in a Telecom Italia board meeting March 6. One Milan broker said the fact the JV is no longer being pursued is "positive news, in that it distances the risk of conflict of interest." Telecom Italia's main shareholder, the French media conglomerate Vivendi, owns Canal+. Analysts at the Italian brokerage Equita said they didn't interpret the end of JV plans as representing a strategic change of heart for Telecom Italia. "We think that this won't translate into abandoning the group's media strategy, but that it could lead to direct negotiations on contents on the part of Tim with other commercial partners," they said. In terms of strategy, analysts are looking ahead to March 7, when Telecom Italia is set to unveil its 2018-2020 industrial plan along with 2017 results. Il Sole 24 Ore noted that the joint venture had been essential for plans to end litigation between Mediaset and Vivendi over the French group's decision to back out of buying Mediaset's pay TV business Premium, with that legal dispute now looking set to continue. Indeed, Il Sole 24 Ore reported that a mediation meeting slated for next Monday between Telecom Italia and Mediaset is said to have already been cancelled. A24-Hob (RADIOCOR) 23-02-18 10:52:20 (0221) 5 NNNN

  15. Italy

    Italy 10-yr govt bond spread vs Bund rises to 1.40 pct pts -2-

  16. Italy

    Europe shares open little changed

  17. Italy

    Italy 10-yr govt bond spread vs Bund rises to 1.40 pct pts

  18. Italy

    IGD FY recurring net 65.6 mln eur, up 21.7%

    Sees FY div 0.50-0.52 eur/shr (Il Sole 24 Ore Radiocor Plus) - Milan, 22 Feb - The Italian real estate group IGD said that it posted a recurring net profit of 65.6 million euros, up 21.7% from a year earlier, while core business revenue grew 6.0% to 145.1 million. Net profit was up 26.5% to 86.5 million euros. The company said that it will pay a full year dividend of 0.50-0.52 euros per share, including the shares issued in its forthcoming capital increase, against 0.45 euros a year earlier. A24-Web (RADIOCOR) 22-02-18 20:20:54 (0754) 5 NNNN

  19. Italy

    Clabo buys 51% Howard McCray for 2.1 mln usd

  20. Italy

    Europe shares end mixed, Milan drops on election concerns -2-

    A2A leads Milan gains, Rovio tumbles (Il Sole 24 Ore Radiocor Plus) - London, 22 Feb - In the region's stock market dealings, most sectors were lower, with basic resources and household goods among the biggest decliners. Shares of Italian utility A2A closed broadly higher on the Milan exchange and rallied 3.29% to 1.44 euros after the broker Kepler came out with a buy 'recommendation' on the stock and raised its 12-month target price to 1.7 euros from a previous 1.5 euros. Shares of Finnish software group Rovio, creator of the Angry Birds video game, slumped 50.34% to 4.94 euros on the Helsinki stock exchange following the release of sales and profit guidance for 2018 below analysts' expectations. Shares of the French pipe maker Vallourec sank 11.58% to 4.37 euros in Paris dealings after the release of disappointing 2018 guidance. Shares of steel piping manufacturer Tenaris jumped 3.10% to 13.97 euros in Milan trade following the release of better than expected fourth quarter and an upbeat guidance for the year underway. A24-Cia (RADIOCOR) 22-02-18 18:37:28 (0664) 5 NNNN