— Breaking News

  1. Italy

    Italy Q1 services turnover up 1.6% vs Q4, up 4.5% yr/yr -2-

    Trade, auto, motorcycle repair turnover up 5.9% yr/yr (Il Sole 24 Ore Radiocor Plus) - Milan , 26 May - Year on year, revenue in turnover for wholesale and retail trade, auto and motorcycle repair services rose 5.9% while that for travel agencies and business support firms rose 5.0% and that for transport and warehousing was up 4.3%. Scientific and technical professional services turnover grew 2.2% while that for lodging and catering increased 0.8% and media and communications services turnover was up 0.7%. A24-Hob (RADIOCOR) 26-05-17 21:44:34 (0738) 5 NNNN

  2. Italy

    Italy Q1 services turnover up 1.6% vs Q4, up 4.5% yr/yr

    Travel agency, business support turnover up 4.3% vs Q4 (Il Sole 24 Ore Radiocor Plus) - Milan, 26 May - Seasonally adjusted turnover in Italy services sector rose 1.6% in the first quarter of 2017 compared to the previous quarter and was up 4.5% on the year earlier, according to data from statistics office Istat. Compared to the previous quarter, turnover for travel agencies and business support firms rose 4.3% while that for transport and warehousing was up 2.1%, wholesale and retail trade, auto and motorcycle repairs turnover increased 1.7%, and lodging and restaurants saw a 1.2% increase in turnover. Scientific and technical professional services turnover was up 0.6% while media and communications services turnover increased 0.2%. A24-Hob (RADIOCOR) 26-05-17 21:36:43 (0709) 5 NNNN

  3. Italy

    Italy's FS, Turkish railway TCDD sign cooperation agreement

    Covering technical servicees (Il Sole 24 Ore Radiocor Plus) - Milan, 26 May - Italian state-controlled rail company FS said it has signed a memorandum of understanding with Turkish railway Turkiye Cumhuriyeti Devlet DemiryollarA+/- (TCDD) covering cooperation in a number of technical areas. In particular, the agreement encompasses the provision of specialized technical consulting services, the exchange of information on innovative technologies for rail development, the planning and management of engineering services and supervision of infrastructure construction, the management and acquisition of trains, wagons, coaches and diagnostic services. FS said the MoU reinforces the cooperation already existing between the two rail companies. The Italian company noted that its RFI, Trenitalia, Italferr and Italcertifer units has provided consulting services for TCDD over the last 15 years. A24-Hob (RADIOCOR) 26-05-17 21:28:13 (0674) 5 NNNN

  4. Italy

    Italy sells 4.955 bln eur in 2, 10 and 15 yr bonds

    Avg yield on 2-yr zero-coupon bond falls to -0.078% (Il Sole 24 Ore Radiocor Plus) - Milan, 26 May - Italy's treasury sold 4.955 billion euros in two, 10 and 15 year bonds in an auction, the Bank of Italy said. The treasury sold 3.5 billion euros in two-year zero-coupon bonds at an average yield of -0.078%, down from -0.075% at the previous auction in April. The bid-to-cover ratio was 1.73. It also sold 983.5 million euros in 10-year inflation-linked bonds at an average yield of 1.21% and 472 million in 15-year inflation-linked bonds at an average yield of 1.78%. A24-Hob (RADIOCOR) 26-05-17 20:22:57 (0576) 5 NNNN

  5. Italy

    G7 still undecided on climate change - Ita PM -2-

    Sign declaration condemning terrorism (Il Sole 24 Ore Radiocor Plus) - Taormina, 26 May - The leaders signed a statement condemning terrorism, following the recent attack in Manchester, UK. The declaration aims at "strengthening of cooperation among the seven major economies of the western world on various issues, from Internet technology collaboration to the leaders' commitment to get from major Internet service providers a commitment towards what is circulating on the Web which often amplifies the acts of terrorism," Premier Gentiloni said. The Italian PM also noted that the declaration represents "a strong message of friendship, closeness and solidarity with Great Britain". UK Prime Minister Theresa May thanked the seven leaders for their support over the "terrible attack in Manchester" and said "I think it is important to show this determination by all countries to fight terror and safeguard our citizens". A24-Zap (RADIOCOR) 26-05-17 19:27:40 (0519) 5 NNNN

  6. Italy

    G7 still undecided on climate change - Ita PM

    US administration still undecided (Il Sole 24 Ore Radiocor Plus) - Taormina, 26 May - Italian Prime Minister Paolo Gentiloni said that G7 leaders did not make progress on the issue of the fight against global warming on the first day of the G7 summit in Taormina, Sicily. The Italian premier said that while the other G7 countries firmly back the Paris Climate accord, the new US administration is still undecided on its stance. Gentiloni however said he is certain that US President Donald Trump will ultimately back the Paris agreement. A24-Zap (RADIOCOR) 26-05-17 19:18:19 (0513) 5 NNNN

  7. Italy

    Europe shares end lower on OPEC, G7 -2-

    ArcelorMittal rises in Paris, banks drop (Il Sole 24 Ore Radiocor Plus) - London, 26 May - In Paris dealings, ArcelorMittal gained 1.71% to 19.9 euros after sources close to the matter said the world's top steel maker won a bid to buy Italian plant Ilva in a consortium with steel company Marcegaglia and bank Intesa Sanpaolo. Financial and oil stocks tumbled in the region. Among energy shares, in Paris Total sank 0.62% to 47.44 euros, and in Milan Eni dipped 2.32% to 14.31 euros. Among lenders, Deutsche Bank slumped 2.14% to 16.5 euros, Commerzbank lost 1.53% to 9.38 euros, and Societe Generale slumped 1.64% to 49.35 euros. In Frankfurt, among car makers BMW dipped 1.09% to 84.3 euros, Daimler slid 0.62% to 65.4 euros and Volkswagen dropped 0.58% to 137.95 euros. A24-Cia (RADIOCOR) 26-05-17 18:32:28 (0464) 5 NNNN

  8. Italy

    Euro zone benchmark 10-year sovereign bond yields

    (Il Sole 24 Ore Radiocor Plus) - London, 26 May - Euro zone benchmark 10-year sovereign bond yields Germany - yield 0.33%; down 0.04 percentage points from previous close. France - yield 0.76%; down 0.04 percentage points from previous close. Belgium - yield 0.69%; down 0.04 percentage points from previous close. Italy - yield 2.10%; down 0.02 percentage points from previous close. Spain - yield 1.53%; down 0.04 percentage points from previous close. A24-Zap (RADIOCOR) 26-05-17 18:05:51 (0442) 5 NNNN

  9. Italy

    Banca Ifis buys 190 mln eur loans from Barclays

    Portfolio includes nonperforming consumer loans (Il Sole 24 Ore Radiocor Plus) - Milan, 26 May - Italy's Banca IFIS has agreed to buy a loan portfolio of about 190 million euro from Barclays. The portfolio consists of about 75.500 positions made up of mostly non-performing consumer loans (personal loans, credit cards) and for the remaining part of performing loan agreements regularly repaid by customers. "This operation is new as it is the first time we have purchased a portfolio containing both non-performing and performing loans," said Andrea Clamer, Head of Banca IFIS's NPL Area. "In a market with increasingly lively dynamics, where the choice to dispose assets is now considered a primary strategic option, we continue to evaluate all possible transactions in line with our strategic pillars which are the right profitability for the risk taken on and balanced capital absorption," he said. The overall value of all NPLs managed by Banca IFIS, as of April, 30 2017, amounted to over 10 billion euro comprising over 1 million 400 thousand positions. A24-Cia (RADIOCOR) 26-05-17 16:36:50 (0371) 5 NNNN

  10. Italy

    Arcelor, Marcegaglia, Intesa win bid to buy steel plant Ilva

    Beats rival offer by AcciaItalia (Il Sole 24 Ore Radiocor Plus) - Rome, 26 May - A consortium formed by world's top steelmaker ArcelorMittal, Italian peer Marcegaglia and top Italian bank Intesa Sanpaolo has won a bid to buy Italian steel plant Ilva, sources close to the dossier said, confirming a report in ilMessaggero.it. The decision will be made official later today by Ilva. The consortium Am Investco beat a rival bid by AcciaItalia, led by India's Jindal and which includes CDP, Arvedi and Del Vecchio. The tender has been awarded based on price, the industrial project and environmental requalification of the area. Am Investco reportedly offered 1.8 billion euros, more than AcciaItalia, but with less investment. A24-Cia (RADIOCOR) 26-05-17 15:37:03 (0345) 5 NNNN

  11. Italy

    AC Milan lists 218 mln eur in bonds on Vienna exchange

    To use proceeds for transfer market, pay back loans (Il Sole 24 Ore Radiocor Plus) - Milan, 26 May - Italian football club AC Milan listed on the Vienna stock exchange two bonds for an overall 128 million euros, with a maturity of slightly less than a year and a half, that will be used to pay back a loan to shareholders and the investments necessary for the transfer market. According to reports by Il Sole 24 Ore at the end of April the bond will be fully underwritten by hedge fund Elliott, that already lent 303 million euros to the owner of the club, Yonghong Li, for the purchase of the group. The loan will have to be paid back in 18 months. A24-Sch (RADIOCOR) 26-05-17 15:02:01 (0326) 5 NNNN

  12. Italy

    Unieuro grows faster than Italian market -2-

    Rules out acquisitions (Il Sole 24 Ore Radiocor Plus) - Milan, 26 May - Unieuro ruled out further acquisitions after buying 21 points of sale from Andreoli. Nicosanti stressed that "there are growth opportunities even if the market is not easy." The group has a 20% market share. A24-Web (RADIOCOR) 26-05-17 13:28:19 (0255) 5 NNNN

  13. Italy

    Unieuro grows faster than Italian household equipment market

    Market down 1% in Q1 to May (Il Sole 24 Ore Radiocor Plus) - Milan, 26 May - The Italian retailer of household equipment Unieuro is growing faster than its domestic market, said chief executive Giancarlo Nicosanti. "Our growth continues to be in line with the past years. In a market, which is expected to be flat or slightly lower, according to (the research institute) GfK, Unieuro is gaining market because growing slightly," he said. Unieuro said that its the first quarter ended in May, the market fell 1% while its sales were "slightly positive." A24-Web (RADIOCOR) 26-05-17 13:22:25 (0252) 5 NNNN

  14. Italy

    Italy foundations won't save Veneto Banca, Popolare Vicenza

    Not ready to recapitalise Atlante (Il Sole 24 Ore Radiocor Plus) - Milan, 26 May - Italian banking foundations will not help refinance the troubled banks Veneto Banca, Popolare Vicenza, said Giuseppe Guzzetti, head of the foundation association Acri and the foundation Fondazione Cariplo. "The foundations have already contributed" to recapitalising Italian banks, Guzzetti said in a radio interview. When asked if the foundations could inject financial resources in the Atlante rescue fund, Guzzetti said "absolutely no. We won't put one euro." A24-Web (RADIOCOR) 26-05-17 12:45:50 (0234) 5 NNNN

  15. Italy

    Italy May business confidence 106.2 vs 106.8 -2-

    All components of consumer confidence worsen (Il Sole 24 Ore Radiocor Plus) - Milan, 26 May - Istat noted that all components of consumer confidence fell. The economic climate component dropped to 124.7 from 125.0 while the personal climate component sipped to 100.2 from 101.5. The component of the future climate fell to 108.1 from 110.1 and on the current climate to 105.2 from 105.6. Consumers' views on the country's economic situation were steady at -51 while expectations worsened to -33 from -32. Expectations on unemployment rose to 33 from 29. A24-Sch (RADIOCOR) 26-05-17 10:37:05 (0172) 5 NNNN

  16. Italy

    Newspaper headline round-up

    (Il Sole 24 Ore Radiocor Plus) - Milan, 26 May - Newspaper headline round-up FINANCIAL TIMES FBI investigates Jared Kushner's Russia ties. Trump fails to endorse Nato mutual defence. May plans G7 push to curb extremism on web. Trump vows to punish source of Manchester probe leak. EU adds English teachers' pay to Brexit bill. THE WALL STREET JOURNAL Outrage over attack leaks spurs Trump to call for probe. Britain struggles to prioritize targets as threat grows. Oil extends losses after OPEC cuts fall short of expectations. Former Greek prime minister Papademos injured by letter bomb. LES ECHOS General elections: the La Republique en Marche tide continues to rise. Concern increases about Chinese debt. Trump obtains half success with European allies during NATO summit. IL SOLE 24 ORE Government in twin negotiations to avoid a bail-in for Veneto banks. Halting the modernization of Italy's museums would damage the entire country. Textile and fashion industry generates half of Italy's trade surplus. CINCO DIAS Banco Popular can expect 1.250 bln eur mattress to soften the acquisition cost. Bankia pays 170 mln eur to 34,000 clients for mortgage clauses. Bitcoin up 184% in 1 yr to 2,700 usd. HANDELSBLATT California criticizes Volkswagen's plan for electric cars. Oil prices extend losses after OPEC meeting. Diesel scandal: public prosecutors target Bosch. Macron's party headed for absolute majority in June parliamentary elections. Greece's incalculable sovereign debt. Bosch faces second dieselgate investigation. Merkel's green hypocrisy. A24-Web (RADIOCOR) 26-05-17 10:28:38 (0169) 5 NNNN

  17. Italy

    Italy May business confidence 106.2 vs 106.8

    May consumer confidence 105.4 vs 107.4 (Il Sole 24 Ore Radiocor Plus) - Milan, 26 May - Italian business confidence in May fell to 106.2 from 106.8 while consumer confidence fell to the lowest level since January 2015 at 105.4 from 107.4 in April, according to data released by national statistical office Istat. Business confidence in manufacturing fell to 107.2 from 107.7 and in services to 105.5 from 106.9. In the construction sector it remained broadly steady at 128.1 from 128.0 and in retail trade it rose to 111.1 from 110.8. A24-Sch (RADIOCOR) 26-05-17 10:28:37 (0168) 5 NNNN

  18. Italy

    Italy 10-yr govt bond spread vs Bund at 1.76 pct pts

    Yield at 2.12%% (Il Sole 24 Ore Radiocor Plus) - Milan, 26 May - The differential between yields on 10-year Italian government bonds and their German counterparts inched up to 1.76 percentage points in early trade from 1.75 points at the close Thursday. The yield on the benchmark Italian bonds was unchanged at 2.12%. A24-Sch (RADIOCOR) 26-05-17 10:07:39 (0155) 5 NNNN

  19. Italy

    Italian stylist Laura Biagiotti dies

    Suffered a heart attack (Il Sole 24 Ore Radiocor Plus) - Milan, 26 May - The Italian stylist Laura Biagiotti died overnight after having been taken to the hospital Sant'Andrea in Rome yesterday after a heart attack that had caused severe brain damage. Aged 73, Biagiotti was known as the "Queen of Cashmere" for her luxurious knits. A24-Web (RADIOCOR) 26-05-17 08:59:47 (0122) 5 NNNN

  20. Italy

    Economic calendar for May 26

    (Il Sole 24 Ore Radiocor Plus) - New York, 25 May - Economic calendar for Friday, May 26 02:00 USD FOMC Member Bullard Speaks 05:00 SGD Industrial Production (YoY) (Apr) 6.4% 10.2% 05:00 SGD Industrial Production (MoM) (Apr) -0.3% 5.0% 07:00 EUR ECB's Coeure Speaks 08:00 EUR Italian Business Confidence (May) 108.0 107.9 08:00 EUR Italian Consumer Confidence (May) 107.3 107.5 11:30 INR Bank Loan Growth 4.3% 11:30 INR Deposit Growth 10.3% 11:30 INR FX Reserves, USD 375.27B 12:30 USD Core Durable Goods Orders (MoM) (Apr) 0.5% -0.2% 12:30 USD Corporate Profits (QoQ) (Q1) 2.3% 2.3% 12:30 USD Durable Goods Orders (MoM) (Apr) -1.2% 0.7% 12:30 USD Durables Excluding Defense (MoM) (Apr) 1.0% 12:30 USD GDP (QoQ) (Q1) 0.9% 0.7% 12:30 USD GDP Price Index (QoQ) (Q1) 2.3% 2.2% 12:30 USD Goods Orders Non Defense Ex Air (MoM) (Apr) 0.5% 0.5% 12:30 USD Real Consumer Spending (Q1) 0.4% 0.3% 14:00 USD Michigan 5-Year Inflation Expectations (May) 2.30% 14:00 USD Michigan Consumer Expectations (May) 87.9 88.1 14:00 USD Michigan Consumer Sentiment (May) 97.5 97.7 14:00 USD Michigan Current Conditions (May) 112.5 112.7 14:00 USD Michigan Inflation Expectations (May) 2.6% 14:30 USD ECRI Weekly Annualized (WoW) 5.0% 14:30 USD ECRI Weekly Index 144.5 14:30 BRL Debt-to-GDP ratio (Apr) 48.1% 47.8% 14:30 BRL Budget Balance (Apr) -18.000B -54.349B 14:30 BRL Budget Surplus (Apr) 5.000B -11.047B 17:00 USD U.S. Baker Hughes Oil Rig Count 720 19:30 GBP CFTC GBP speculative net positions -33.0K 19:30 USD CFTC Copper speculative net positions 8.6K 19:30 USD CFTC Crude Oil speculative net positions 329.0K 19:30 USD CFTC Gold speculative net positions 126.7K 19:30 USD CFTC S&P 500 speculative net positions 32.1K 19:30 USD CFTC Silver speculative net positions 43.0K 19:30 CAD CFTC CAD speculative net positions -98.0K 19:30 CHF CFTC CHF speculative net positions -21.2K 19:30 AUD CFTC AUD speculative net positions 6.3K 19:30 JPY CFTC JPY speculative net positions -60.0K 19:30 NZD CFTC NZD speculative net positions -12.0K 19:30 RUB CFTC RUB speculative positions 10.0K 19:30 EUR CFTC EUR speculative net positions 37.6K A24-Zap (RADIOCOR) 26-05-17 00:03:40 (0878) 5 NNNN