— Breaking News

  1. Italy

    Economic calendar for May 25

    (Il Sole 24 Ore Radiocor Plus) - New York, 24 May - Economic calendar for Friday, May 25 05:00 SGD Industrial Production (YoY) (Apr) 8.3% 5.9% 05:00 SGD Industrial Production (MoM) (Apr) 1.2% 0.3% 06:45 EUR French Consumer Confidence (May) 100 101 07:00 EUR Spanish PPI (YoY) 1.3% 07:15 CHF Industrial orders (Q1) 19.6% 08:00 EUR German Business Expectations (Apr) 99.5 98.7 08:00 EUR German Current Assessment (Apr) 106.0 105.7 08:00 EUR German Ifo Business Climate Index (Apr) 102.7 102.1 08:30 GBP Business Investment (YoY) (Q1) 2.4% 2.6% 08:30 GBP Business Investment (QoQ) (Q1) 0.2% 0.3% 08:30 GBP GDP (YoY) (Q1) 1.2% 1.2% 08:30 GBP GDP (QoQ) (Q1) 0.1% 0.1% 08:30 GBP Gross Mortgage Approvals 37.8K 37.6K 08:30 GBP Index of Services 0.3% 0.4% 10:00 EUR Italian Trade Balance Non-EU (Apr) 3.83B Tentative EUR EU Finance Ministers Meeting 10:30 BRL Federal Tax Revenue 128.00B 105.66B 11:30 INR Bank Loan Growth 12.6% 11:30 INR Deposit Growth 8.2% 11:30 INR FX Reserves, USD 417.70B 12:00 AUD RBA Assist Gov Bullock Speaks 12:30 USD Cap Goods Ship Non Defense Ex Air (MoM) 0.4% -0.8% 12:30 USD Core Durable Goods Orders (MoM) (Apr) 0.5% -0.1% 12:30 USD Durable Goods Orders (MoM) (Apr) -1.4% 2.6% 12:30 USD Durables Excluding Defense (MoM) (Apr) -1.0% 3.7% 12:30 USD Goods Orders Non Defense Ex Air (MoM) (Apr) 0.7% -0.9% 13:15 EUR ECB's Coeure Speaks 13:20 GBP BoE Gov Carney Speaks 13:20 USD Fed Chair Powell Speaks 14:00 USD Michigan 5-Year Inflation Expectations (May) 2.50% 14:00 USD Michigan Consumer Expectations (May) 86.9 89.5 14:00 USD Michigan Consumer Sentiment (May) 98.8 98.8 14:00 USD Michigan Current Conditions (May) 115.0 113.3 14:00 USD Michigan Inflation Expectations (May) 2.8% 14:00 USD Wholesale Trade Sales (MoM) 0.3% 14:30 USD ECRI Weekly Annualized (WoW) 4.3% 14:30 USD ECRI Weekly Index 148.7 15:00 CAD Budget Balance (YoY) (Mar) -5.56B 15:00 CAD Budget Balance (Mar) 2.83B 15:45 USD Chicago Fed President Evans Speaks 15:45 USD FOMC Member Bostic Speaks 15:45 USD FOMC Member Kaplan Speaks 17:00 USD U.S. Baker Hughes Oil Rig Count 844 19:20 EUR German Buba President Weidmann Speaks 19:30 GBP CFTC GBP speculative net positions 5.6K 19:30 USD CFTC Copper speculative net positions 36.4K 19:30 USD CFTC Crude Oil speculative net positions 644.4K 19:30 USD CFTC Gold speculative net positions 92.4K 19:30 USD CFTC S&P 500 speculative net positions 198.8K 19:30 USD CFTC Silver speculative net positions 0.7K 19:30 CAD CFTC CAD speculative net positions -23.7K 19:30 CHF CFTC CHF speculative net positions -36.4K 19:30 AUD CFTC AUD speculative net positions -23.1K 19:30 JPY CFTC JPY speculative net positions 3.7K 19:30 NZD CFTC NZD speculative net positions 2.0K 19:30 RUB CFTC RUB speculative positions 10.9K 19:30 EUR CFTC EUR speculative net positions 115.1K A24-Zap (RADIOCOR) 24-05-18 22:08:08 (0964) 5 NNNN

  2. Italy

    Orogel FY sales 685.1 mln eur, up 8%

    FY sales of frozen foods up 9.7% (Il Sole 24 Ore Radiocor Plus) - Milan, 24 May - The Italian food company Orogel said that it posted sales of 685.1 million euros in 2017, up 8% from a year earlier. Sales of frozen foods grew 9.7% to 230 million euros, it added. The company added that it is working on its 2020-2022 business plan. A24-Web (RADIOCOR) 24-05-18 22:06:20 (0959) 5 NNNN

  3. Italy

    Delfin FY net 369 mln eur, up 18%

    To pay 60 mln eur in dividends (Il Sole 24 Ore Radiocor Plus) - Milan, 24 May - Delfin, the Luxembourg-based holding company of the Italian business Leonardo Del Vecchio, posted a net profit of 369 million euros in 2017, up 18% from the previous year. The company plans to pay a dividend of 60 million euros. Delfin had total assets of 9.40 billion euros at the end of 2017 compared with 8.99 billion a year earlier. A24-Web (RADIOCOR) 24-05-18 22:06:12 (0958) 5 NNNN

  4. Italy

    Enel inaugurates 238MW Don Jose solar PV plant in Mexico

    Brings 2018 renewable capacity commissioned to 1 GW (Il Sole 24 Ore Radiocor Plus) - Milan , 24 May - Italian power group Enel said it has Enel Green Power Mexico subsidiary inaugurated the 238MW Don Jose solar photovoltaic (PV) plant in San Luis de La Paz, in the Mexican state of Guanajuato. With the plant inauguration, Enel noted that its Enel Green Power renewable business has commissioned a total of approximately 1GW in new capacity this year. Investments for the solar PV plant, which was fully commissioned five months ahead of schedule, amounted to about 220 million dollars. Enel said the plant is supported by a contract for the sale of specific volumes of energy for 15 years and Clean Energy Certificates for 20 years with Mexico's Federal Electricity Commission (CFE). Enel has also reached an agreement with CFE to expand the plant by 22MW, a project that is expected to be completed in the second half of this year and will involve an investment of about 21 million dollars. A24-Hob (RADIOCOR) 24-05-18 19:26:01 (0677) 5 NNNN

  5. Italy

    Europe shares end lower as Trump cancels North Korea summit

    FTSE 100 down 0.92%, DAX down 0.94%, CAC 40 down 0.31% (Il Sole 24 Ore Radiocor Plus) - London, 24 May - European share prices closed lower as heightened trade and geopolitical concerns overshadowed dovish Fed minutes released yesterday. Sentiment soured after US president Donald Trump ordered the US Commerce Department to consider a probe into car and truck imports, a move that could lead to potential fresh tariffs on foreign vehicles, like those on steel and aluminum introduced in March. Car makers dipped, weighing on the German DAX index. Trump also called off a planned June 12 summit with North Korea leader Kim Jong Un. "I was very much looking forward to being there with you. Sadly, based on the tremendous anger and open hostility displayed in your most recent statement, I feel it is inappropriate, at this time, to have this long-planned meeting," Trump said in an open letter to Kim. Investors also continued to watch developments in the political situation in Italy, after yesterday Italian president Sergio Mattarella asked prime minister designate Giuseppe Conte to form a government. The London FTSE 100 closed down 0.92% at 7,716.74 points, the Frankfurt DAX dipped 0.94% to 12,855.09 points, the Paris CAC 40 declined 0.31% to 5,548.45 points, in Milan the FTSE MIB dropped 0.71% to 22,749.08 points and in Madrid the IBEX 35 ended down 0.18% at 10,006.70 points. A24-Cia (RADIOCOR) 24-05-18 17:51:51 (0592) 5 NNNN

  6. Italy

    Euro zone benchmark 10-year sovereign bond yields

    (Il Sole 24 Ore Radiocor Plus) - London, 24 May - Euro zone benchmark 10-year sovereign bond yields Germany - yield 0.47%; down 0.05 percentage points from previous close. France - yield 0.75%; down 0.06 percentage points from previous close. Belgium - yield 0.96%; up 0.09 percentage points from previous close. Italy - yield 2.40%; down 0.02 percentage points from previous close. Spain - yield 1.40%; down 0.04 percentage points from previous close. A24-Zap (RADIOCOR) 24-05-18 17:26:00 (0566) 5 NNNN

  7. Italy

    Euro zone benchmark 10-year sovereign bond yields

    (Il Sole 24 Ore Radiocor Plus) - London, 24 May - Euro zone benchmark 10-year sovereign bond yields Germany - yield 0.47%; down 0.05 percentage points from previous close. France - yield 0.75%; down 0.06 percentage points from previous close. Belgium - yield 0.96%; up 0.09 percentage points from previous close. Italy - yield 2.40%; down 0.02 percentage points from previous close. Spain - yield 1.40%; down 0.04 percentage points from previous close. A24-Zap (RADIOCOR) 24-05-18 17:25:52 (0565) 5 NNNN

  8. Italy

    Autogrill 4 mth revenue 1.329 bln eur, down 2.7%

    4 mth revenue up 4.1% like for like (Il Sole 24 Ore Radiocor Plus) - Milan, 24 May - The Italian catering group Autogrill said that in the first four months of the year its revenue fell 2.7% to 1.329 billion euros due to the dollar's depreciation against the euro. At constant currency rates, sales were up by 5.3%. On a like-for-like basis, the top line grew 4.1% driven by its airport division. A24-Web (RADIOCOR) 24-05-18 14:40:59 (0422) 5 NNNN

  9. Italy

    Europe shares mixed as car makers dip; tech, banks rise -2-

    Arzynta slumps, Trevi rallies (Il Sole 24 Ore Radiocor Plus) - Milan, 24 May - Among car makers, in Frankfurt BMW sank 3.42%, Daimler dipped 3.43%, Porsche slumped 3.96% and Volkswagen sank 2.88%. In Paris Peugeot slid 2.12% and Renault fell 1.60%, while in Milan FCA dripped 1.56%. In Zurich dealings, Swiss food company Aryzta dipped 20.75%, leading the losses in the region, after it cut its full year earnings outlook once more. Shares of the Italian engineering and drilling group Trevi rallied 5.26% on reports that Bain Capital was chosen over the funds 4R and Sound Point Capital to restructure the company. According to media reports, the overall rescue plan could amount to about 900 million euros and involve the launch of a 150 million bond and the conversion of part of Trevi's debt, which totalled 665 million at the end of 2017. Part of the debt could be transformed into financial instruments to enable the Trevisani family, which has a 32.73% stake in the company, to remain at the helm, according to a newspaper. According to reports, Trevi could also launch a 200-300 million euro capital increase. A24-Ver (RADIOCOR) 24-05-18 14:05:47 (0400) 5 NNNN

  10. Italy

    Europe shares mixed as car makers dip; tech, banks rise

    FTSE 100 down 0.23%, DAX down 0.20%, CAC 40 up 0.30% (Il Sole 24 Ore Radiocor Plus) - Milan, 24 May - European shares trimmed earlier gains and were mixed at mid-session after yesterday's sharp losses. Trade concerns continued to weigh on sentiment, overshadowing dovish Fed minutes released yesterday, after US president Donald Trump ordered the US Commerce Department to consider a probe into car and truck imports, a move that could lead to potential fresh tariffs on foreign vehicles, like those on steel and aluminum introduced in March. Car makers dipped, weighing on the German DAX index. Trump said earlier this week that he was not pleased with recent trade talks between the US and China, while US Treasury secretary Steven Mnuchin said the US will keep tariffs on Chinese steel and aluminum imports in place. A surge in technology and financials stocks helped offset the losses. Banks rose as investors digested minutes from the Federal Reserve's latest policy meeting showing that the central bank was not prone to changing the pace of future rate hikes despite rising inflation. The minutes confirmed that policy makers supported a June rate increase, but that they wouldn't be too aggressive with raising interest rates, suggesting the inflation outlook wasn't severe. The markets also mulled first quarter reports from European companies including UK agribusiness group Tate & Lyle, UK water company United Utilities and Kingfisher, the UK operator of home improvement stores. Investors also continued to watch developments in the political situation in Italy, after yesterday Italian president Sergio Mattarella asked prime minister designate Giuseppe Conte to form a government. "Mattarella has given me mandate to form a new government. I have tentatively accepted the mandate," Conte said emerging from more than two hours of discussion with the president. Conte - who had been nominated prime minister by the anti-establishment Five Star Movement and the far-right League - said he will look to form a government that will observe Italy's European and international positions. The dollar slipped against a basket of currencies, pulling back from a five-month high after dovish minutes from the US Federal Reserve. US stock futures pointed to a muted open ahead of a flurry of economic data is expected later today, including jobless claims and existing home sales. At 1142 GMT the London FTSE 100 was down 0.23% at 7,770 points, in Frankfurt the DAX was down 0.20% at 12,950 points, the Paris CAC 40 was up 0.30% at 5,582 points, in Milan the FTSE MIB was up 0.10% at 22,933 points and in Madrid the IBEX 35 was up 0.40% at 10,065 points. A24-Ver (RADIOCOR) 24-05-18 13:51:20 (0381) 5 NNNN

  11. Italy

    Eurozone underlying fiscal efforts are waning - ECB

    Italy, Portugal, France, Belgium structural balance worsening (Il Sole 24 Ore Radiocor Plus) - Frankfurt, 24 May - While headline fiscal balances in the eurozone continue to improve, underlying fiscal efforts are waning and a deterioration of structural balances is projected to deteriorate in most euro area countries that were most affected by the crisis, in particular Belgium, Italy, France and Portugal, the European Central Bank said in its latest Financial Stability Review. The improvement in fiscal balances was mainly due to favourable cyclical conditions and, to a lesser extent, by lower interest expenditures. "The underlying structural fiscal stance in the euro area is expected to remain broadly neutral in 2018-19, but several countries are expected to loosen policies slightly. Indeed, a deterioration of structural balances is projected in most euro area countries that were more affected by the crisis. Several highly indebted countries are at risk of non-compliance with the structural fiscal efforts envisaged in the rules of the Stability and Growth Pact (i.e. Belgium, France, Italy and Portugal)," the ECB said. A24-Sch (RADIOCOR) 24-05-18 12:02:41 (0266) 5 NNNN

  12. Italy

    Italy PM designate EU dialogue desire good sign - Moscovici

    Continues to believe Italy will remain at centre eurozone (Il Sole 24 Ore Radiocor Plus) - Brussels, 24 May - Italian prime minister designate Giuseppe Conte's comments indicating he seeks dialogue with European Union institutions is a "good sign", said EU economic affairs commissioner Pierre Moscovici. "The problem is knowing whether Italy will remain what it is," Moscovici told the radio France Info. "I continue to believe it will remain a country at the centre of the eurozone." In any case, Moscovici noted that the European Commisson "can't comment on announcements, it will comment on decisions, that is on budgets, on figures, on laws." The EU commissioner added that he would be "attentive and vigilant on Italian debt, the second highest in the EU after that of Greece" based on the debt to GDP ratio. A24-Hob (RADIOCOR) 24-05-18 11:32:50 (0244) 5 NNNN

  13. Italy

    Italy 10-yr govt bond spread vs Bund falls to 1.78 pct pts

    Yield falls to 2.31% (Il Sole 24 Ore Radiocor Plus) - Milan, 24 May - The differential between 10-year Italian government bond yields and their German counterparts narrowed to 1.78 percentage points in late European trade, down 0.13 percentage point from the close Wednesday. The spread is narrowing after Italian president Sergio Mattarella late yesterday gave a mandate to form a new government composed of the far-right League and anti-establishment Five Star Movement (M5S) to law professor and political novice Giuseppe Conte, more than two-and-a-half months after elections in early March. The yield on the benchmark Italin bonds declined to 2.31% from 2.42% at the close Wednesday. A24-Hob (RADIOCOR) 24-05-18 11:21:10 (0236) 5 NNNN

  14. Italy

    Trevi shares higher on news Bain to manage restructuring

    Shares up over 8% (Il Sole 24 Ore Radiocor Plus) - Milan, 24 May - Shares of the Italian engineering and drilling group Trevi were sharply higher on reports that Bain Capital was chosen over the funds 4R and Sound Point Capital to restructure the company. At 0906 GMT, Trevi gained 8.45% to 0.443 euros. According to media reports, the overall rescue plan could amount to about 900 million euros and involve the launch of a 150 million bond and the conversion of part of Trevi's debt, which totalled 665 million at the end of 2017. Part of the debt could be transformed into financial instruments to enable the Trevisani family, which has a 32.73% stake in the company, to remain at the helm, according to a newspaper. According to reports, Trevi could also launch a 200-300 million euro capital increase. A24-Web (RADIOCOR) 24-05-18 11:11:39 (0230) 5 NNNN

  15. Italy

    Newspaper headline round-up

    (Il Sole 24 Ore Radiocor Plus) - Milan, 24 May - Newspaper headline round-up FINANCIAL TIMES Trump launches probe into car imports. US presses Europe for tougher sanctions on Russia. Rusal chief executive and 7 directors resign. Deutsche Bank to slash 7,000 jobs in restructuring. Conte given mandate to be next Italian PM. THE WALL STREET JOURNAL Trump weighs tariffs on auto imports. Fed minutes signal June rate increase. Comcast goes public on plan for Fox bid to challenge Disney. North Korea threatens to call off summit with US. Iran's supreme leader fires back at US demands. Deutsche Bank to cut thousands of jobs. LES ECHOS Uber plans IPO in 2019 - Dara Khosrowshahi. Giuseppe Conte named Italian prime minister. Macron-Putin relationship warms up on Iran. IL SOLE 24 ORE US congress dismantles Dodd-Frank legislation. Conte PM designate. Italy deficit, pensions, justice are open issues with Brussels. CINCO DIAS Iberdrola to invest 2.4 bln eur in US offshore windfarms. Spain regains competitiveness vs EU in Q1. Spanish household savings at record low. Are we at risk. Moody's minimizes impact. HANDELSBLATT Deutsche Bank plans drastic cuts in equities sales & trading business. German economic growth halves in the first quarter. Deutsche Telekom wants to pay its shareholders more dividend. Apple cooperates with Volkswagen on self-driving cars. A24-Web (RADIOCOR) 24-05-18 10:24:41 (0195) 5 NNNN

  16. Italy

    Europe shares open higher, trade war concerns cap gains

    FTSE 100 up 0.04%, DAX up 0.08%, CAC 40 up 0.35% (Il Sole 24 Ore Radiocor Plus) - Milan, 24 May - European shares opened slightly higher, rebounding from yesterday's sharp losses following a weak session in Asia and gains on Wall Street overnight. Trade concerns however continued to weigh on sentiment, overshadowing dovish Fed minutes, after US president Donald Trump ordered the US Commerce Department to consider a probe into car and truck imports, a move that could lead to potential fresh tariffs on foreign vehicles, like those on steel and aluminum introduced in March. Trump said earlier this week that he was not pleased with recent trade talks between the US and China, while US Treasury secretary Steven Mnuchin said the US will keep tariffs on Chinese steel and aluminum imports in place. Investors digested minutes from the Federal Reserve's latest policy meeting showing that the central bank was not prone to changing the pace of future rate hikes despite rising inflation. The minutes confirmed that policy makers supported a June rate increase, but that they wouldn't be too aggressive with raising interest rates, suggesting the inflation outlook wasn't severe. The markets also mulled first quarter reports from European companies including UK agribusiness group Tate & Lyle, UK water company United Utilities and Kingfisher, the UK operator of home improvement stores. Investors also continued to watch developments in the political situation in Italy, after yesterday Italian president Sergio Mattarella asked prime minister designate Giuseppe Conte to form a government. "Mattarella has given me mandate to form a new government. I have tentatively accepted the mandate," Conte said emerging from more than two hours of discussion with the president. Conte - who had been nominated prime minister by the anti-establishment Five Star Movement and the far-right League - said he will look to form a government that will observe Italy's European and international positions. In the region's stock market dealings, most sectors were higher. At 0730 GMT the London FTSE 100 was up 0.04% at 7,791 points, in Frankfurt the DAX was up 0.08% at 12,987 points, the Paris CAC 40 was up 0.35% at 5,585 points, in Milan the FTSE MIB was up 0.48% at 23,021 points and in Madrid the IBEX 35 was up 0.39% at 10,064 points. A24-Ver (RADIOCOR) 24-05-18 09:55:59 (0180) 5 NNNN

  17. Italy

    Italy 10-yr govt bond spread vs Bund falls to 1.86 pct pts

    Yield at 2.36% (Il Sole 24 Ore Radiocor Plus) - Milan, 24 May - The differential between yields on 10-year Italian government bonds and their German counterparts stood at 1.86 percentage points in early trade, down from 1.91 points at the close Wednesday but up from 1.83 points in early trade. The reduction in the differential comes after Italian president Sergio Mattarella gave political novice Giuseppe Conte a mandate to form a government made up of the far-right League and anti-establishment Five Star Movement (M5S) parties. In early trade, the yield on the benchmark Italian bonds was at 2.36%, down from 2.42% at the close Wednesday. A24-Hob (RADIOCOR) 24-05-18 09:21:33 (0169) 5 NNNN

  18. Italy

    ***Ita PM designate confirms Italy's European, intl position (RCOP)

    (Il Sole 24 Ore Radiocor Plus) A24-Zap (RADIOCOR) 23-05-18 19:44:14 (0697) 5 NNNN

  19. Italy

    Giuseppe Conte tentatively accepts Italy PM mandate, to form govt

    (Il Sole 24 Ore Radiocor Plus) - New York, 23 May - Italian president Sergio Mattarella asked prime minister designate Giuseppe Conte to form a government. 'Mattarella has given me mandate to form a new government. I have tentatively accepted the mandate,' Conte said emerging from more than two hours of discussion with the president. Conte - who had been nominated prime minister by the anti-establishment Five Star Movement and the far-right League - said he will look to form a government that will observe Italy's European and international positions. A24-Zap (RADIOCOR) 23-05-18 19:43:54 (0695) 5 NNNN

  20. Italy

    ***Giuseppe Conte tentatively accepts Italy PM mandate, to form govt (RCOP)

    (Il Sole 24 Ore Radiocor Plus) A24-Zap (RADIOCOR) 23-05-18 19:43:38 (0694) 5 NNNN