FTSE MIB INDEX 
Caution still prevails among investors as they await important inflation data in the US and EU tomorrow.
At 9:40 a.m. the Ftse Mib is essentially flat.
Luxury stocks at two speeds: Brunello Cucinelli rises 4%, while Ferragamo retreats 2%.
Safilo stands out above the rest with a 7.5 percent jump on MF rumors that the company has broken off talks for the potential acquisition of the 83 percent of Marcolin put up for sale by PAI-Partners because it would have considered the French fund's demand of 1.3 billion too high. Intesa Sanpaolo analysts point out that "the indiscretion confirms our view that integration with Marcolin would make industrial sense but the significant gap in the valuation of the two companies is an obstacle to discussions."
Campari swung, down 1.1 percent, penalized by the news that Milan prosecutors opened an investigation for failure to file income tax returns against Lagfin, the Campari Group's Luxembourg-based holding company and safehouse. Campari Group clarified that neither Davide Campari-Milano nor any of its subsidiaries are under investigation by the authorities and therefore no impact on the companies is expected. Intesa Sanpaolo analysts, however, due to the uncertain scenario expect some volatility on the stock "until the real impact on Campari becomes clearer."
Eni rises 0.65 percent. This morning the major disclosed a binding agreement with Hilcorp to sell 100 percent of the Nikaitchuq and Oooguruk upstream assets held by the Italian energy group in Alaska. The value of the transaction will be disclosed at closing. Equita believes that "the valuation range can be identified between 0.4-0.8 billion depending on the multiple applied."
Stellantis retreats 2.4 percent. On the stock Equita reduced its recommendation to 'hold' due to the "below-consensus estimate cut and the weak news flow we expect shortly."
Finally, little moved the banks with Intesa Sanpaolo down 0.3%, UniCredit +0.3%. Banco Bpm and Mps were stable.
(Giancarlo Navach, editing Sabina Suzzi)
