A quiet session at Piazza Affari in what is so far a wait-and-see day, as investors anticipate key US labor market data this afternoon and the Supreme Court ruling on the legitimacy of President Donald Trump's use of tariffs.

US futures are also flat, suggesting a subdued start for American equity indexes.

Before the Court delivers its decision today, employment statistics scheduled for early afternoon will give investors a clearer picture of the US labor market, after months clouded by delays and incomplete data collection due to the federal government shutdown.

Signs of weakness emerged last Wednesday from the Adp and Jolts updates, with job openings falling to a 14-month low and hiring still scarce.

Around 12:30 pm, the Ftse Mib index is up 0.15%. Trading volumes stand at 1.1 billion euros.

Stocks in the spotlight today

** The rebound in oil prices, which rose 2% yesterday, is boosting the oil sector after a few negative sessions due to developments in the Venezuela crisis and the prospect of new oil hitting the market. ENI is well bought, rising 1.35%, followed by oil services such as TENARIS at +0.75% and SAIPEM at +0.5%.

** Utilities, which had gained recently, are retracing, with ITALGAS down 1.5% after a rally in the last two sessions, driven by the technical effect of SNAM (-0.70%) issuing a green bond convertible in 2031 backed by Italgas shares, refinancing a similar bond convertible in 2028.

** Mixed performance for banks, with heavyweights INTESA SANPAOLO and UNICREDIT down about 0.3%, while MPS rises 1% and its subsidiary MEDIOBANCA is up 0.4%.

** Mild profit-taking in the defense sector after a rally, with LEONARDO down 0.55%, while FINCANTIERI is steady. AVIO, however, gains around 1%.

** STELLANTIS rebounds +2.2% and AMPLIFON +3.2%, after declines recorded yesterday.

** STM jumps 2.5%. Broker Citi has raised its target price on the stock to 30 euros from 24, confirming its 'buy' rating.

** CUCINELLI also does well, up 2.1%, while FERRAGAMO is little changed after sharp falls in the last two sessions.

(Giancarlo Navach, editing Sabina Suzzi)