Investors are still refraining from taking positions, merely following a less concentrated market phase increasingly driven by sector rotations.
Shortly before 10:00 a.m., the Ftse Mib index was up 0.43%.
Leading the pack is BUZZI, which, after tumbling more than 7%, is rebounding by 3%, also supported by Barclays raising its target price to 57 euros from 55 euros. Yesterday, Buzzi was impacted by news that Russian authorities had seized four plants owned by the Danish construction materials group Rockwool. According to Akros, this could set a "worrying precedent" for European companies with assets in Russia, including Buzzi itself.
The index is being buoyed mainly by the utilities sector, which is strong across Europe. ENEL is up 1.7%, followed by TERNA, ITALGAS, A2A, and HERA, all advancing by around one percentage point.
Oil stocks are retreating after strong performances the previous day; banks are little moved or slightly down.
At the bottom of the Ftse Mib, LOTTOMATICA (-1.6) is down for the fifth consecutive session, hitting a two-month low and breaking below a support level at yesterday's close of 20.78 euros.
Outside the main index, EuroGroup Laminations jumps 6.8% after Asian private equity firm FountainVest received conditional approval from the Italian government to acquire a majority stake.
(Andrea Mandalà, editing Antonella Cinelli)
