Aside from some minor end-of-quarter portfolio adjustments, European equities offered few insights in the first part of the session - little impact from inflation data in France, Spain and Italy - with investors more focused on the bond front, especially French paper ahead of the first round of French elections this weekend.
Around 1 p.m., the Ftse Mib is up 0.49 percent after three consecutive sessions of declines, a trend that would allow the Milan stock exchange's main index to close the week just above par. Negative, however, are the monthly and quarterly balances, around -3% and -4%, respectively.
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Among bankers rearing their heads again after three sessions of letters, Banca Mps stands out, up 2%. The dossier on the Siena-based institution is heating up again with the expiration next week, on July 2, of the lock-up on the remaining 26.7 percent stake held by the Mef.
Also among the main risers in the sector were Intesa Sanpaolo, +1.3%, Banco Bpm +0.5%, while Bper remains behind, down 0.8%.
The positive trend in oil prices, set for the third consecutive weekly rise, supports stocks in the sector with Tenaris at +2.5%, Saipem +1.8% and Eni +0.9%.
Purchases also on industrial stocks such as Iveco +2.9% and Leonardo, along with Brembo (+1.2%) benefiting from the 'buy' with which Deutsche Bank initiated coverage on the brake manufacturer.
At the bottom of the Ftse Mib Brunello Cucinelli loses more than two points on profit-taking after yesterday's run, and Terna 1.7%, bucking the positive trend in the utility sector, after Goldman Sachs cut its recommendation on the stock to 'sell' from 'neutral'.
(Andrea Mandalà, editing Sabina Suzzi)