— Breaking News

  1. Italy

    Europe shares end mostly higher as UK starts Brexit -2-

    Deutsche Boerse, Leonardo rise (Il Sole 24 Ore Radiocor Plus) - London, 29 Mar - In Frankfurt stock market dealings, German automotive group Daimler was up 1.12% after it said it expects its Mercedes-Benz Cars unit to post its highest ever quarterly unit sales in the first three months of 2017 as the positive trend seen in January and February continued into March. Deutsche Boerse closed up 1.70% at 83.86 euros after the European Commission prohibited its proposed merger with the London stock exchange after concluding that the tie-up would have created a de facto monopoly in fixed income instrument markets. The commission noted that the proposed merger would have combined the activities of the two largest European stock exchange operators, which own the stock exchanges of Germany, Italy and the UK as well as several of Europe's largest clearing houses. Shares of Italian defense and aerospace group Leonardo closed up 1.84% at 13.30 euros in Milan trade, getting a boost from a new helicopter contract in Pakistan. A24-Cia (RADIOCOR) 29-03-17 18:33:17 (0554) 5 NNNN

  2. Italy

    UK shares close slightly higher as Brexit triggered

    Oil stocks, LSE rise (Il Sole 24 Ore Radiocor Plus) - London, 29 Mar - UK stock prices closed slightly higher in volatile trading, after the government of Theresa May triggered Article 50 of the Lisbon Treaty to leave the European Union. The pound weakened when the government officially notified the European Union of its intention to leave the union, but regained strength in late trading. A cheaper pound helps multinationals listed on the London stock exchange. Investors also digested prospects of further interest rate increases in the US, as the president of the Federal Reserve bank of Chicago Charles Evans said that he continues to see a'one or two' more rate hikes this year and three increases in 2018. A rebound in oil prices helped support sentiment, with oil major BP gaining 1.71% at 461.20 pence. Shares in London Stock Exchange Group closed up 2.71% at 3,106.00 pence after the European Commission said it has prohibited the proposed merger between LSE and Deutsche Boerse under the EU merger regulation after concluding that the tie-up would have created a de facto monopoly in fixed income instrument markets. A combined European operator would have owned the stock exchanges of Germany, Italy and the UK as well as several of Europe's largest clearing houses. The London FTSE 100 index closed up 0.41% at 7,373.72 points. A24-Cia (RADIOCOR) 29-03-17 18:25:25 (0551) 5 NNNN

  3. Italy

    Euro zone benchmark 10-year sovereign bond yields

    (Il Sole 24 Ore Radiocor Plus) - London, 29 Mar - Euro zone benchmark 10-year sovereign bond yields Germany - yield 0.34%; down 0.04 percentage points from previous close. France - yield 0.93%; down 0.02 percentage points from previous close. Belgium - yield 0.83%; up 0.03 percentage points from previous close. Italy - yield 2.14%; down 0.03 percentage points from previous close. Spain - yield 1.53%; down 0.05 percentage points from previous close. A24-Zap (RADIOCOR) 29-03-17 18:16:07 (0546) 5 NNNN

  4. Italy

    Eni sees big investor interest in gas retail business - CEO

    Will decide on sale during course of the year (Il Sole 24 Ore Radiocor Plus) - Ravenna, 29 Mar - Italian oil and gas group Eni sees "enormous interest" in its retail gas business, both from industrial players and private equity funds, said chief executive Claudio Descalzi on the sidelines of the Offshore Mediterranean Conference (OMC) in Ravenna, when asked about the spin-off of this business. Descalzi added, however, a decisision on a sale of the business has not yet been made. "We are setting up a company with its own CEO. We'll see whether we'll remain (a shareholder) or sell everything, a decision hasn't yet been made. A decision will be made during the course of the year." A24-Hob (RADIOCOR) 29-03-17 17:09:08 (0498) 5 NNNN

  5. Italy

    Sol FY net 44.1 mln eur, up 36.1%

    FY div 0.15 eur/shr vs 0.12 (Il Sole 24 Ore Radiocor Plus) - Milan, 29 Mar - The Italian industrial gas provider Sol said that its full year rose 36.1% to 44.1 million euros as revenue rose 4.3% to 703.4 million. EBITDA gained 12.8% to 167.6 million euros. The company plans to pay a full year dividend of 0.15 euros per share, up from 0.12 euros a year earlier. In 2017, Sol expects sales to continue grow and maintain a "good profitability level". A24-Web (RADIOCOR) 29-03-17 16:33:00 (0458) 5 NNNN

  6. Italy

    Europe shares mixed at mid-session as Brexit kicks off -2-

    Daimler, Deutsche Boerse, LSE, Leonardo rise (Il Sole 24 Ore Radiocor Plus) - Milan, 29 Mar - In Frankfurt stock market dealings, German automotive group Daimler was up 1.12% after it said it expects its Mercedes-Benz Cars unit to post its highest ever quarterly unit sales in the first three months of 2017 as the positive trend seen in January and February continued into March. In a statement ahead of the company's shareholders' meeting, Daimler said that in the first two months of this year, the division sold 351,243 vehicles, up 15.6%, with the Mercedes-Benz brand posting its 48th record month in succession in February with 153,862 units sold, up 15.0%, driven by solid demand for the new E-Class sedan and the new E-Class wagon, ongoing strong demand for the C-Class and great demand worldwide for the SUVs. The division will continue its Mercedes-Benz 2020 strategy in the year 2017 and aims to slightly increase its total unit sales to a new record level. At a group level, Daimler anticipates slight revenue growth in 2017 reflecting the generally positive development of unit sales in the automotive divisions. It expects Group EBIT to once again increase slightly in 2017. Deutsche Boerse and London Stock Exchange Group were up respectively 1.74% and 2.25% after the European Commission said it has prohibited the proposed merger between the two stock exchange operators under the EU merger regulation after concluding that the tie-up would have created a de facto monopoly in fixed income instrument markets. The commission noted that the proposed merger would have combined the activities of the two largest European stock exchange operators, which own the stock exchanges of Germany, Italy and the UK as well as several of Europe's largest clearing houses. Shares of Italian defence and aerospace group Leonardo were up 0.84% in Milan trade, getting a boost from a new helicopter contract in Pakistan. Leonardo announced yesterday that it won a new order for an undisclosed number of additional AgustaWestland AW139 intermediate twin engine helicopters from the Pakistan government. Leonardo said the aircraft will be used to perform utility, search and rescue and emergency medical service across the country, while deliveries are expected to begin in early 2018. A24-Ver (RADIOCOR) 29-03-17 13:42:56 (0322) 5 NNNN

  7. Italy

    Italy sells 6.5 bln eur in 6-mth bonds at steady yield

    Yield at -0.294% (Il Sole 24 Ore Radiocor Plus) - Milan, 29 Mar - Italy's treasury sold a total of 6.5 billion euros in six-month bonds in an auction, the Bank of Italy said, as the average yield was unchanged on that seen in the previous auction at -0.294%. The bid-to-cover ratio was 1.59. A24-Hob (RADIOCOR) 29-03-17 12:42:09 (0269) 5 NNNN

  8. Italy

    UniCredit Atlante fund stake value written down 80% in 2016

    Stake value written down to 139 mln eur from 686 mln (Il Sole 24 Ore Radiocor Plus) - Milan, 29 Mar - Italian lender UniCredit said it wrote down the value of its stake in the Italian bank rescue fund Atlante by 80% last year, figures in the bank's 2016 annual report show. As of December 31, 2016, UniCredit held 845 shares in the fund out of a total 4,249, valuing its stake at 139 million euros after a 547 million writedown. UniCredit invested 686 million euros in the fund last year, with a commitment for an additional investment of 159 million. UniCredit also committed to a 155 million euro investment in the Atlante II fund, of which 1.1 million had been invested by the end of 2016. A24-Hob (RADIOCOR) 29-03-17 11:53:42 (0232) 5 NNNN

  9. Italy

    Deutsche Boerse, London Stock Exchange merger blocked by EU

    Would have created de facto fixed instrument markets monopoly (Il Sole 24 Ore Radiocor Plus) - Brussels, 29 Mar - The European Commission said it has prohibited the proposed merger between Deutsche Boerse and London Stock Exchange Group under the EU merger regulation after concluding that the tie-up would have created a de facto monopoly in fixed income instrument markets. The commission noted that the proposed merger would have combined the activities of the two largest European stock exchange operators, which own the stock exchanges of Germany, Italy and the UK as well as several of Europe's largest clearing houses. "The European economy depends on well-functioning financial markets," said EU competition commissioner Margrethe Vestager. "That is not just important for banks and other financial institutions. The whole economy benefits when businesses can raise money on competitive financial markets. "The merger between Deutsche Boerse and the London Stock Exchange would have significantly reduced competition by creating a de facto monopoly in the crucial area of clearing of fixed income instruments. As the parties failed to offer the remedies required to address our competition concerns, the Commission has decided to prohibit the merger." A24-Hob (RADIOCOR) 29-03-17 11:28:43 (0218) 5 NNNN

  10. Italy

    Leonardo shares gain on Pakistan contract

    Stock up 0.46% (Il Sole 24 Ore Radiocor Plus) - Milan, 29 Mar - Shares of Italian defence and aerospace group Leonardo were higher in Milan trade, getting a boost from a new helicopter contract in Pakistan. At 0845 GMT, Leonardo shares were up 0.46% at 13.12 euros, while the benchmark FTSE MIB index was flat at 20,329.45 points. Leonardo announced yesterday that it won a new order for an undisclosed number of additional AgustaWestland AW139 intermediate twin engine helicopters from the Pakistan government. Leonardo said the aircraft will be used to perform utility, search and rescue and emergency medical service across the country, while deliveries are expected to begin in early 2018. While details on the number of helicopters sold were not disclosed, Banca Akros analysts noted that the cumulative number for AW139 sales included in the Pakistan contract press release indicate that about 30 AW139 helicopters were sold in the 39 days since a previous contract in Pakistan was announced. That compares with the 176 AW139 helicopters sold in all of 2016. According to Banca Akros, Leonardo shares are trading at a price-earnings ratio of about 13 times compared with a European industry average of 19 times. Banca Akros has an 'accumulate' recommendation on the stock and a target price of 16 euros, despite upcoming expected changes in top management. For another undisclosed broker, who has an 'outperform' rating on the stock an a target price of 16 euros, the contract represents progress towards Pakistan's plans to completely renew its helicopter fleet. A24-Hob (RADIOCOR) 29-03-17 11:01:04 (0198) 5 NNNN

  11. Italy

    Italy March consumer confidence 107.6 vs 106.6 in Feb -2-

    Manufacturing, services, retail trade confidence improve (Il Sole 24 Ore Radiocor Plus) - Milan, 29 Mar - Business confidence in the manufacturing sector rose from 106.4 to 107.1. Assessments on order books improved from -6 to -5 while that for production expectations inched up from 13 to 14 while the balance on inventories was steady at 4. Confidence in the construction sector fell from 123.9 to 123.3, with assessments on order books/construction plans worsening from -31 to -32 and employment expectations improving from a?'6 to -4. In the services sector, confidence rose from 105.5 to 106.5 with assessments on order books improving from 14 to 15 and expectations on order books steady at 2 for the third consecutive month, while expectations on the general economic situation improved from 0 to 1. In retail trade confidence improved, rising from 108.4 to 108.7, with an improvement of assessments on current sales, which rose from 12 to 13, while expectations on future sales fell from 33 to 27. A24-Hob (RADIOCOR) 29-03-17 10:44:43 (0191) 5 NNNN

  12. Italy

    Italy March consumer confidence 107.6 vs 106.6 in Feb

    Business confidence 105.1 vs 104.3 in Feb (Il Sole 24 Ore Radiocor Plus) - Milan, 29 Mar - Italian consumer confidence in March rose to 107.6 from 106.6 in February while business confidence reached its highest level since January 2016 at 105.1, up from 104.3 in January, according to data released by national statistics office Istat. For consumers, the economic climate rose to 126.4 from 120.8 while the personal climate fell to 101.0 from 102.1. The current climate component of the indicator fell, to 104.5 from 104.7 while the future climate component rose to 111.6 from 109.9. The balance concerning expectations on unemployment decreased to 24 from 28 while on inflation expectations for the next 12 months rose to -11 from -17, Istat said. A24-Hob (RADIOCOR) 29-03-17 10:16:16 (0177) 5 NNNN

  13. Italy

    Italy 10-yr govt bond spread vs Bund falls to 1.77 pct pts

    Yield at 2.17% (Il Sole 24 Ore Radiocor Plus) - Milan , 29 Mar - The differential between yields on 10-year Italian government bonds and their German counterparts inched down to 1.77 percentage points from 1.78 points at the close Tuesday. The yield on the benchmark Italian bonds was steady at 2.17%. A24-Hob (RADIOCOR) 29-03-17 09:39:38 (0156) 5 NNNN

  14. Italy

    Economic calendar for March 29

    (Il Sole 24 Ore Radiocor Plus) - New York, 28 Mar - Economic calendar for Wednesday, March 29 06:00 EUR German Import Price Index (MoM) (Feb) 0.3% 0.9% 06:00 EUR German Import Price Index (YoY) (Feb) 7.0% 6.0% 06:45 EUR French Consumer Confidence (Mar) 100 100 08:00 EUR Italian Business Confidence (Mar) 106.3 106.3 08:00 EUR Italian Consumer Confidence (Mar) 106.6 106.6 08:00 EUR Italian Wage Inflation (YoY) (Feb) 0.4% 08:00 EUR Italian Wage Inflation (MoM) (Feb) 0.0% 08:00 CHF Consumption Indicator (Feb) 1.43 08:00 CHF ZEW Expectations (Mar) 19.4 08:30 GBP BoE Consumer Credit (Feb) 1.300B 1.416B 08:30 GBP M4 Money Supply (MoM) (Feb) 0.5% 0.9% 08:30 GBP Mortgage Approvals (Feb) 69.90K 69.93K 08:30 GBP Mortgage Lending (Feb) 3.50B 3.38B 08:30 GBP Net Lending to Individuals 4.9B 4.8B 09:10 EUR Italian 6-Month BOT Auction -0.294% 11:00 USD MBA 30-Year Mortgage Rate 4.46% 11:00 USD MBA Mortgage Applications (WoW) -2.7% 11:00 USD MBA Purchase Index 235.3 11:00 USD Mortgage Market Index 406.8 11:00 USD Mortgage Refinance Index 1,366.1 11:30 INR M3 Money Supply 7.0% 13:20 USD Chicago Fed President Evans Speaks 13:30 BRL Bank lending (MoM) (Feb) -1.0% 14:00 USD Pending Home Sales (MoM) (Feb) 2.4% -2.8% 14:00 USD Pending Home Sales Index (Feb) 106.4 14:30 USD Crude Oil Inventories 1.357M 4.954M 14:30 USD Crude Oil Imports 1.069M 14:30 USD Cushing Crude Oil Inventories 1.419M 14:30 USD Distillate Fuel Production 0.139M 14:30 USD EIA Weekly Distillates Stocks -1.234M -1.910M 14:30 USD Gasoline Production 0.231M 14:30 USD Heating Oil Stockpiles 0.090M 14:30 USD Gasoline Inventories -1.886M -2.811M 15:30 USD FOMC Member Rosengren Speaks 16:30 BRL Foreign Exchange Flows 3.47B 16:50 EUR ECB's Praet Speaks 17:00 USD 7-Year Note Auction 2.197% 17:15 USD FOMC Member Williams Speaks 23:50 JPY Foreign Bonds Buying 149.4B 23:50 JPY Foreign Investments in Japanese Stocks -580.4B A24-Zap (RADIOCOR) 28-03-17 23:16:12 (0914) 5 NNNN

  15. Italy

    Iren gets 75 mln eur EIB loan for power distribution grid

    To support investments in 2017-2021 plan (Il Sole 24 Ore Radiocor Plus) - Milan, 28 Mar - Italian utility Iren said it has signed a 75 million euro, 15-year loan contract with the European Investment Bank (EIB) aimed at supporting the 2017-2021 investment plan for the electricity distribution networks it manages. The loan, which is usable in a number of tranches, will also support the R&D activities tied to those networks. Iren said its power distribution network investment plan is focused on requalification of existing equipment and the replacement of electric meters with second-generation devices. Among objectives is the improvement of electric load management to ensure an efficient security level and reduce electrical losses. With the latest deals, Iren said it has received a total of 825 million euros of loans from the EIB. A24-Hob (RADIOCOR) 28-03-17 20:55:23 (0747) 5 NNNN

  16. Italy

    Europe shares end higher on US confidence boost -2-

    Oil stocks higher, EDP rallies in Lisbon (Il Sole 24 Ore Radiocor Plus) - London, 28 Mar - The markets also digested earnings reports and M&A updates from European companies. In Lisbon, Portuguese energy group EDP rallied 4.16% to 3.05 euros after it said it was launching a voluntary offer to buy the 22.5% it does not already own in its renewable business EDP Renovaveis (EDPR) at a price of 6.8 euros per share. The consideration represents a 9.7% premium to the closing price on March 24 and a 10.5% premium to the volume weighted average price of the shares in the six months preceding the announcement. Energy shares led the gains in Milan trade, with Saipem rallying 6.46% to 0.42 euros. Shares of Italian pharmaceuticals group Recordati fell 0.90% to 31.81 euros in Milan dealings, leading the losses on the FTSE MIB index, after investment bank Goldman Sachs cut its recommendation on the stock to 'sell'. A24-Cia (RADIOCOR) 28-03-17 18:35:32 (0530) 5 NNNN

  17. Italy

    Euro zone benchmark 10-year sovereign bond yields

    (Il Sole 24 Ore Radiocor Plus) - London, 28 Mar - Euro zone benchmark 10-year sovereign bond yields Germany - yield 0.39%; down 0.00 percentage points from previous close. France - yield 0.97%; down 0.01 percentage points from previous close. Belgium - yield 0.87%; up 0.01 percentage points from previous close. Italy - yield 2.17%; down 0.04 percentage points from previous close. Spain - yield 1.57%; down 0.02 percentage points from previous close. A24-Zap (RADIOCOR) 28-03-17 18:21:27 (0524) 5 NNNN

  18. Italy

    Il Sole 24 Ore cash call seen at 50-70 mln eur - chairman

    Confindustria cutting stake could be in interest of group (Il Sole 24 Ore Radiocor Plus) - Milan, 28 Mar - Italian publishing group Il Sole 24 Ore will need a capital increase of 50-70 million euros, Sole 24 Ore chairman Giorgio Fossa said during a hearing in the lower house of parliament on the group's situation. "I don't think it's necessary that (employers association) Confindustria remains at 67%," Fossa said when asked about the possibility of Confindustria reducing its stake. "The more we go down, the more the newspaper is contestable," said Fossa, who is also a former head of Confindustria. "The way I see things, perhaps it's in the interest of the company, because if you wanted to keep 80-90% you wouldn't list it." A24-Hob (RADIOCOR) 28-03-17 17:12:55 (0477) 5 NNNN

  19. Italy

    Ferrero FY revenue 10.3 bln eur, up 8.2%

    13% rise in number of employees (Il Sole 24 Ore Radiocor Plus) - Milan, 28 Mar - The Italian confectionary group Ferrero, known for its Nutella, Kinder and Tic Tac brands, said it posted revenue of 10.3 billion euros in its fiscal year ended August 31, 2016, up 8.2% on the year earlier. The group employed an average of 29,206 people in the fiscal year, up 13% on the year. A24-Hob (RADIOCOR) 28-03-17 16:51:52 (0459) 5 NNNN

  20. Italy

    TIM CEO "happy" if Chairman Recchi confirmed

    Denies speculation about Montezemolo's appointment (Il Sole 24 Ore Radiocor Plus) - Rome, 28 Mar - The Chief Executive of Italian telecoms group Tim, Flavio Cattaneo, said he would be "happy" if Giuseppe Recchi stays as Chairman of the company. Speaking at the end of a Senate hearing, Cattaneo denied speculation about a possible arrival of Luca Cordero di Montezemolo at the helm of the group. "It seems to me he denied it," the CEO said. A24-Cia (RADIOCOR) 28-03-17 16:25:34 (0442) 5 NNNN