Markets hanging on German vote. Bills decree coming to cabinet

MILAN – The economic and financial week that opens is rich. The spotlight is first and foremost on the outcome of the German vote, with the growth of Afd that threatens the parties candidated to form the new government majority. On the domestic side, attention is on the long-awaited bill decree, the measure on which the government has been working for weeks to mitigate the increase in energy costs and whose text could arrive in the cabinet on Tuesday.

The quarterly season is still alive. This week the accounts of Eni , Stellantis and Saipem will arrive. But the key appointment is set for Thursday 27, with the Ordinary Shareholders' Meeting of Banco Bpm who will have to vote on the relaunch of the takeover bid price on Anima that has triggered the defenses of Unicredit. On the international front, the accounts of Nvidia are awaited.

Among the macroeconomic data, the data on inflation in the Eurozone, expected to be stable, the data on GDP from the United States and Germany and the minutes of the ECB are coming. MONDAY 24 FEBRUARY

- Rome: the Italy-United Arab Emirates Business Forum organized by the Ministry of Foreign Affairs and International Cooperation, the Ministries of Economy and Foreign Affairs of the United Arab Emirates, with the collaboration of ICE and the support of Cdp and Sace. The event, entirely open to the press, will be introduced by the Minister of Foreign Affairs and International Cooperation, Antonio Tajani, and by the Minister of State for Foreign Trade of the UAE, Thani bin Ahmed Al Zeyoudi. The Minister of Business and Made in Italy, Adolfo Urso, will also speak at the event. At the end of the works, a signing ceremony of agreements and trade understandings will be held. The President of the UAE, HE Sheikh Mohammed bin Zayed Al Nahyan and the Prime Minister, Giorgia Meloni, will participate in the closing session. (Hotel Parco dei Principi - from 09.00)

- Rome: the INPS Board of Directors and Supervisors presents the 2024 Gender Report. (At Palazzo Wedekind - 2.30 pm)

- Rome: meeting at the Ministry of Enterprise and Made in Italy on the Beko dispute. (12:30 p.m.)

- Milan: the III First Cisl Milano Metropoli Congress opens. (At the Fondazione Cariplo Congress Center, via Romagnosi 8 - 9:00 am) - Milan: meeting on the theme "Companies at the center of the energy transition: tools, challenges and prospects", organized by Assolombarda. Participants include Alessandro Spada, president of Assolombarda; Alberto Dossi, vice president of Assolombarda with responsibility for Ecological Transition; Gilberto Pichetto Fratin, Minister of the Environment and Energy Security. (Via Pantano, 9 - 10:00 am)

- Milan: presentation of the second edition of the Open Doors Call "Spaces of the future: opportunities for young people and communities", organized by Fondazione Cariplo, in collaboration with Fondazione Peppino Vismara and the 16 Community Foundations.

Participants include, among others, Giovanni Azzone, president of Fondazione Cariplo; Card. Matteo Zuppi, president of CEI. (At the MEET - Digital Culture Center - 11:00)

- Eurozone: final inflation January.

TUESDAY 25th February

- Rome: Italian Investment Council 2025 by Remind. Participants include Antonio Tajani, Vice President of the Council and Minister of Foreign Affairs and International Cooperation; Adolfo Urso, Minister of Business and Made in Italy; Ferruccio Ferranti, President of Mediocredito Centrale; Dario Lo Bosco, President of RFI - Ferrovie dello Stato Italiane; Stefano Pontecorvo, President of Leonardo. (Palazzo Ferrajoli, Piazza Colonna 355 - from 9:00 a.m.)

- Milan: the III FIRST CISL Milano Metropoli Congress concludes. (At the Fondazione Cariplo Congress Center, via Romagnosi 8 - 9:00 am) - Milan: fifth edition of the Mobility hub on "Scenarios and prospects of the Italian car market". With Adolfo Urso, Minister of Business and Made in Italy, via video link. (Via Giovanni Keplero 12 - 3:30 pm) - Milan: press conference to present the Lombardy manufacturing situation, relating to the fourth quarter of 2024, organized by Confindustria Lombardia. (At the headquarters of the Lombardy Region - 10:00 am) - Alba (Cn): territorial assembly of Confcooperative Piemonte Sud "Work, Community, Future - The economic and social function of cooperation". (Piazza Medford, 3 - 9:30 am)

- Eurozone: Acea presents January data on car registrations in Europe.

- Germany: GDP fourth quarter.

- US: December house price index; February consumer confidence.

WEDNESDAY 26 FEBRUARY

- Rome: BoT auction. (11.00 am)

- Rome: event "Hydroelectric: a value for Italy", organized by Elettricità Futura. Participants include, among others, Tommaso Foti, Minister for European Affairs, the PNRR and Cohesion Policies; Gilberto Pichetto Fratin, Minister for the Environment and Energy Security; Lorenzo Fontana, President of the Chamber of Deputies. Aurelio Regina, Delegate of the President of Confindustria for Energy. (At Palazzo Montecitorio, Sala della Regina - 9:30 am)

- Rome: hearing of the Minister of Enterprise and Made in Italy Adolfo Urso in the Commission for Productive Activities of the Chamber on nuclear power and energy transition. (Chamber of Deputies, live streaming - 1:30 p.m.)

- Rome: Lazio Region and Unindustria, presentation of the new shared strategy, "The Region for growth: together for the Lazio Industrial Plan", with Giuseppe Biazzo, president of Unindustria, Francesco Rocca, president of the Lazio Region; Roberta Angelilli, vice president and councilor for Economic Development, Trade, Crafts, Industry, internationalization of the Lazio Region. (via Cristoforo Colombo 212 - 11:00 am)

- Milan: Banca Popolare di Sondrio presents the 2025-2027 Industrial Plan.

- Milan: Edison Energia presents its Development Plan with CEO Nicola Monti; CEO Edison Energia Massimo Quaglini and Edison Sustainability Director Barbara Terenghi. (At Palazzo Edison, Shareholders' Room - 11:00 am) - Stellantis: 2024 results (8:00 am) and conference call (2:00 pm)

THURSDAY 27 FEBRUARY

- - Milan: Banco Bpm ordinary meeting. (At Allianz Convention Centre - MICO Sud - 10:00 am) - Diasorin extraordinary meeting for proposal to strengthen the increased voting system currently in force. (Streaming - 11:00 am)

- Rome: Istat, consumer and business confidence in February 2025 (10:00)

- Rome: Istat, industry and services turnover in December 2024 (11.00 am)

- Rome: Eni presents the Capital Markets Update 2025 and the results of the financial year and the fourth quarter of 2024. (streaming - 2.00 pm)

- Rome: Eurispes presents the results of the research 'The management of European funds in Italy: a strategic asset for the driving force of our society'. With Gina Maria Fara, president of Eurispes. (Piazza Vittorio Emanuele II - 11:00 am) - Rome: Abi hearing as part of the examination of the consolidated text of the proposed laws C. 1091 Romano and C. 1240 Bagnai on the obligation to contract and withdrawal of the bank in current account relationships". Speaker: Gianfranco Torriero, Deputy General Manager of Abi. (Chamber of Deputies - Finance Committee - 1:30 pm)

- Milan: Event 'CvSecuritisationDay' first event in Italy dedicated to securitisation, independent and open to the entire market, with Giovanni Tria, Lorenzo Fusoni, Senior Legal Expert Intesa Sanpaolo and others. (Borsa Italiana - 2.30 pm)

- Milan: presentation ceremony of the 2024 MergerLinks rankings dedicated to the Top Investment Bankers and Top M&A Lawyers in Italy. (Officina22, Foro Buonaparte 22 - 6:30 p.m.) - Bolzano: the Minister of Enterprise and Made in Italy Adolfo Urso inaugurates the Casa del Made in Italy in Bolzano (via Torino, 88 - 5:00 p.m.)

- Cape Town: G20/G7 Ministerial, with the Minister of Economy Giancarlo Giorgetti.

- ECB: minute.

- Spain: February inflation.

- Germany: Unemployment rate in February.

- Eurozone: consumer confidence in February.

- US: Unemployment Claims; Durable Goods Orders; Q4 GDP 2nd Estimate.

FRIDAY 28 FEBRUARY

- Rome: Istat, Extra-EU foreign trade in January 2025 (10:00)

- Rome: Istat, Consumer prices (provisional estimate) in February 2025 (11.00 am)

- Rome: Inauguration of the XII edition of the Team Manager Course, with Luigi Abete, President of AS Luiss, Francesco Di Ciommo, Vice-Rector for the Development of Relations with Alumni and for Sport, Luiss Guido Carli University. (The Dome 2, Viale Romania 32 - 4:30 p.m.)

- Manciano (Gr): the fifth edition of the "Forum in Masseria" opens, the event organized by Bruno Vespa with Comin & Partners. Participants include, among others, Matteo Salvini, Deputy Prime Minister and Minister of Infrastructure and Transport; Marina Calderone, Minister of Labor and Social Policies; Maria Elisabetta Alberti Casellati, Minister for Institutional Reforms and Regulatory Simplification; Francesco Lollobrigida, Minister of Agriculture, Food Sovereignty and Forests; Roberto Tomasi, at Autostrade per l'Italia. (At the Terme di Saturnia) - Cape Town: G20/G7 Ministerial, with the Minister of Economy Giancarlo Giorgetti. Japan: Retail sales year-on-year, January. Time: 0.50.

- Japan: Industrial Production January.

- Germany: February inflation, import prices, January retail sales.

- France: February inflation and fourth quarter GDP.

- US: January goods trade balance; consumer spending; PMI (Chicago) February.

- Germany: Fitch rating review.

- GB: Fitch rating review.

- France: S&P rating review

- Saipem: media briefing with CEO Alessandro Puliti and CFO Paolo Calcagnini on 2024 results and presentation of the 2025-2028 strategic plan. (12:30 p.m.)

- Modena: during the meeting, organized by BIEFFE PROJECT and UNIMORE, MIMI', an innovative hydrogen-powered vehicle, will be presented as a world premiere. (Via C. Razzaboni 80 - 10:00 am)

- Germany: Consumer confidence in March.

- France: Consumer confidence in February.

- US: January new home sales; oil inventories, Nvidia quarterly.