Piazza Affari is trading largely flat in a session devoid of major catalysts, as investors await this afternoon's US employment data, a key indicator monitored by the Fed to calibrate borrowing costs.

According to consensus estimates, the figures are expected to show the unemployment rate holding steady at 4.3% in May, with job growth slowing to 85,000 new positions following April's higher-than-expected increase.

In the background, the persistent stalemate in Middle East peace talks remains a factor.

Hezbollah has rejected the latest ceasefire proposal for Lebanon, while Israel stated it will not withdraw its troops from the country, marking a clear setback for negotiations aimed at ending the US-Iran conflict.

Around 1:00 p.m., the FTSE Mib index is up 0.25%. Trading volumes stand at 930 million euros.

Today's featured stocks

** Banks are little moved, with UNICREDIT flat and INTESA edging up (+0.25%).

** DIASORIN is flat following yesterday's surge on market rumors of interest in the diagnostics company, reported by the Betaville website. In its daily note, Equita writes that 'any potential transaction would require the support of the Denegri family, CEO Carlo Rosa, and CCO Even Chen, who collectively hold approximately 64% of the capital and over 80% of the voting rights. However, the controlling shareholders have appeared fully committed to the company's development'.

** In the energy sector, which is well-supported today, ERG stands out with a 6.3% jump after Kepler Cheuvreux upgraded its recommendation to 'buy' from 'hold' and raised its price target to 27 euros from 24. The broker believes the stock benefits from the greater flexibility granted by the EU for renewable transition investments, as an exemption from the stability pact.

** SAIPEM is strong, jumping 4.3%, while fellow oil service provider TENARIS is up 1.3%. Among utilities, ITALGAS is the top performer with a 2.3% gain.

** Fading AI euphoria on other exchanges, following Broadcom's weaker-than-expected results, is triggering profit-taking on STM, which is retreating by about 4% after recently hitting highs not seen since 2000. PRYSMIAN is also down, slipping 0.3%. Conversely, OLIDATA is soaring with an 18% surge.

** CAREL INDUSTRIES is losing 5.2% after Exane Paribas cut its rating on the shares to 'neutral' from 'outperform', though it raised its price target to 34 euros.

** In the Euronext Growth Milan segment, MONNALISA is jumping about 20% following the announcement of a five-year licensing agreement with Dondup for the worldwide exclusive development, production, and distribution of the brand's kidswear line.

(Giancarlo Navach, editing Claudia Cristoferi)