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 .
BUDGET/BANKS
The cabinet is due to meet at 0900 GMT to finalise the government’s 2026 budget to be presented to parliament and approved by year-end.
The government plans to collect more than 11 billion euros ($12.86 billion) from banks and insurance companies over 2026-2028 to help fund state finances, according to a budget draft sent to EU authorities on Thursday.
The issue has triggered tensions between the government and financial lobbies, and divisions within Prime Minister Giorgia Meloni’s rightist coalition.
However, the ruling parties reached a common stance during a meeting late on Thursday with the Prime Minister, political sources said, without detailing.
The co-ruling Forza Italia party later said that lenders would be allowed to unlock 6.2 billion euros in reserves they set aside last year under an opt-out clause from a contested 2023 windfall tax, by paying a 27.5% tax on a voluntary basis.
(*) The financial sector will also have to contribute to the budget package with a 2% increase in the regional tax on productive activities, or IRAP, several newspapers reported on Friday. Banks and insurance companies already pay a higher IRAP rate than other businesses, with rates of 5.45% and 5.9% respectively, la Repubblica reported, adding that for insurance companies, the total contribution would amount to around 600 million euros.
ECONOMY
Bank of Italy releases quarterly ‘Economic Bulletin’ (1300 GMT).
DEBT
Treasury announces minimum guaranteed rates for seven-year bonds ‘BTP Valore’ for the retail market be auctioned on October 20-24.
COMPANIES
(*) BANCA MONTE DEI PASCHI (MPS) 
BMPS, MEDIOBANCA 
MB
MPS CEO Luigi Lovaglio presented on Thursday a detailed schedule for the integration of MPS with Mediobanca, with the aim of completing it by March, a few weeks before the MPS board renewal scheduled in April, MF reported on Friday.
On a commercial level, Lovaglio’s plan aims at a clear segmentation of customers and businesses, with MPS focusing on retail banking, consumer credit through Compass and asset management for affluent customers. Mediobanca will rather focus on higher value-added activities, such as corporate and investment banking and private banking, the report added.
MF also wrote that internal mergers are also being considered, including that of Widiba into Mediobanca Private.
(*) A2A 
A2A
The board of the Italian utility will meet to approve a revised business plan on November 11, the company said on Friday.
BPER 
BPE, BANCA POPOLARE DI SONDRIO 
BPSO
The two banks said on Thursday their boards are due to meet on Nov. 5 to approve the merger, which is expected to be completed in the first half of 2026. Italy’s fourth-largest bank is pursuing a generational turnover, offering voluntary exits to 800 employees, mostly next year.
(*) FERRARI 
RACE
The luxury carmaker has reduced the number of cars it sells in the UK to stem declining residual values of its luxury vehicles, prompted by the departure of wealthy individuals after tax changes and the abolition of non-dom status, the Financial Times reported on Friday.
BRUNELLO CUCINELLI 
BC
October sales confirmed the positive trend seen in the first nine months across all regions, the Italian luxury company said on Thursday.
JUVENTUS 
JUVE
The Serie A club said on Thursday it was under investigation by the European soccer governing body UEFA for possible breaches of its financial rules.
Juventus’ current CEO Maurizio Scanavino will leave the role on November 7, when the board’s mandate expires, the club also said on Thursday.
Controlling shareholder Exor 
EXO submitted its slate of nominees for the renewal vote that included general manager Damien Comolli who is expected to be named CEO. Crypto firm Tether submitted a separate slate with two candidates.
DIARY
Economy Minister Giancarlo Giorgetti attends FMI/WB-G20/G7 annual meetings in Washington.
DBRS rating agency scheduled review of sovereign debt rating on Italy.
Milan, A2A presents the “Territorial Sustainability Report of Milan” with Chairman Roberto Tasca and CEO Renato Mazzoncini (1000 GMT).
Cernobbio, ‘ComoLake’ conference “Digital Innovation Forum” ends (0700 GMT); on Friday expected attendees include Energy Security Minister Gilberto Pichetto Fratin, Cabinet Undersecretary Alessio Butti, European Affairs and National Resilience and Recovery Plan (NRRP) Minister Tommaso Foti.
((Milan newsroom, e-mail: reutersitaly@thomsonreuters.com))
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