Italy - Factors to watch on July 11

The following factors could affect Italian markets on Friday.

Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).

For a complete list of diary events in Italy please click on IT/DIA.

POLITICS

Italy said on Thursday all entities that have helped Russia fund its war on Ukraine by doing business with the country should be excluded from profiting from Ukraine's reconstruction.

Italy's two largest banks, Intesa San Paolo ISP.MI and UniCredit CRDI.MI, still operate in Russia, though both have cut their exposure in the country.

(*) U.S. President Donald Trump said on Thursday the United States would supply weapons to Ukraine via NATO and that he would make a "major statement" on Russia on Monday.

ECONOMY

(*) U.S. President Donald Trump ramped up his tariff assault on Canada on Thursday, saying the U.S. would impose a 35% tariff on imports next month and planned to impose blanket tariffs of 15% or 20% on most other trading partners, including the EU.

Italy aims to exit the European Union's infringement procedure for its excessive budget deficit as early as next year, ahead of schedule, Economy Minister Giancarlo Giorgetti said on Thursday, suggesting the deficit may fall below 3% of output in 2025.

Bank of Italy releases quarterly 'Economic Bulletin' (1300 GMT).

DEBT

Treasury sells following BTP bonds: 3.25-3.5 billion euros 2.35% due Jan. 15, 2029; 3.0-3.5 billion euros 3.25% due July 15, 2032; 1.25-1.75 billion euros 3.85% due Oct. 1, 2040. Subscriptions close at 0900 GMT.

COMPANIES

(*) UNICREDIT CRDI.MI

The German government expects UniCredit to drop its bid for Commerzbank CBKG.DE and will not give up its stake in the takeover target, Finance Minister Lars Klingbeil told German press agency dpa.

According to Il Messaggero daily, CEO Andrea Orcel said in a board meeting that UniCredit would go ahead on Commerzbank, converting in shares more derivatives to raise its stake to 29%, and asked for a meeting with the German government to explain its strategy.

(*) UNICREDIT, BANCO BPM BAMI.MI

Orcel said UniCredit would "almost certainly" drop its bid for Banco BPM, Il Messaggero reported on Friday.

BPER BANCA EMII.MI, BANCA POPOLARE DI SONDRIO BPSI.MI

Italy's fourth-largest lender has secured at least 35% of smaller rival Banca Popolare di Sondrio under its buyout offer, a stake it considers sufficient to secure control, the Italian bourse said on Thursday.

BPER's full voluntary takeover offer ends on Friday.

(*) MEDIOBANCA MDBI.MI

Enasarco, the Italian pension fund for trade agents, has built a 2.52% stake in Mediobanca over the course of this year, the Financial Times reported on Friday.

The bank's board meets on Friday on Banca Monte dei Paschi di Siena BMPS.MI's takeover bid.

BRUNELLO CUCINELLI BCU.MI

The Italian luxury group said on Thursday its revenues rose 10.7% at constant exchange rates in the first half of the year, slightly beating analysts forecasts.

LEONARDO LDOF.MI, IVECO IVG.MI, ENAV ENAV.MI

The Italian defence group made the lowest offer among companies bidding for industrial vehicle-maker Iveco's defence unit, offering around 1.6 billion euros ($1.87 billion) including debt, Bloomberg News reported on Thursday.

Leonardo, alongside Italian air traffic management company Enav, signed an agreement on Thursday with Ukraine's air traffic service to restore the war-torn country's air traffic management system.

FINCANTIERI FCT.MI

The Italian shipbuilder said on Thursday that its Norwegian unit Vard had signed a 200-million-euro contract with US marine research organisation Inkfish for the construction of a ship. Delivery is expected by the second quarter of 2028.

AVIO AVI.MI

The Italian space manufacturer said on Thursday it had been officially designated as the launch service provider for Europe's Vega satellite launch rockets.

BANCA IFIS IF.MI

Ends re-opening period of takeover offer on illimity Bank ILTY.MI ordinary shares.

FOS FOS.MI

FOS Holding SpA ends full takeover offer on FOS ordinary shares.

MARE ENGINEERING GROUP MARE.MI

Ends full mandatory takeover offer on La Sia LASIA.MI ordinary shares.

DIARY

Infrastructure and Transport Minister Matteo Salvini in Shanghai (China).

Rome, Prime Minister Giorgia Meloni meets EU Economy commissioner Valdis Dombrovskis (0830 GMT).

Rome, "Conference on Ukraine's Recovery" ends (0800 GMT); on Friday. Expected attendees include ECB board member Piero Cipollone.

Milan, banking association ABI holds annual meeting with President Antonio Patuelli, Bank of Italy Governor Fabio Panetta, Economy Minister Giancarlo Giorgetti (0800 GMT).

((Milan newsroom, e-mail: reutersitaly@thomsonreuters.com))

For Italian market data and news, click on codes in
brackets:

20 biggest gainers (in percentage).............PG.MI

20 biggest losers (in percentage)..............PL.MI

FTSE IT allshare index .FTITLMS

FTSE Mib index........ .FTMIB

FTSE Allstars index... .FTSTAR

FTSE Mid Cap index.... .FTITMC

Block trades.......... .BLK.MI

Stories on Italy...... IT-LEN

For pan-European market data and news, click on codes in
brackets:

European Equities speed guide...................EUR/EQUITY

FTSEurofirst 300 index...............................FTEU3

DJ STOXX index.......................................STOXX

Top 10 STOXX sectors............................PGL.STOXXS

Top 10 EUROSTOXX sectors.......................PGL.STOXXES

Top 10 Eurofirst 300 sectors....................PGL.FTEU3S

Top 25 European pct gainers........................PG.PEUR

Top 25 European pct losers.........................PL.PEUR

Main stock markets:

Dow Jones................DJI Wall Street report ......N

Nikkei 225..............N225 Tokyo report.............T

FTSE 100................FTSE London report............L

World Indices.....................................0#.INDEX

Reuters survey of world bourse outlook.........EQUITYPOLL1

Western European IPO diary..........................WEUIPO

European Asset Allocation........................EUR/ASSET

Reuters News at a Glance: Equities...............TOP/EQE

Main currency report:...............................FRX/

($1 = 0.8555 euros)