Piazza Affari continues to rise with widespread buying among various sectors, amid moderately positive European bourses and marginal advances in Wall Street index futures.

In the market, investors weigh political uncertainties in Europe related to government formation in France and Fed Governor Powell's words to Congress yesterday as they await the U.S. inflation figure tomorrow.

Yesterday Powell, while not explicitly providing any timeline on rate cuts, acknowledged recent progress on the price front and spoke of an economy that is no longer "overheated."

Around 12:10 p.m., the FTSE Mib is up around 0.9 percent, slightly stronger than the Stoxx 600 index. Modest trading on the Milanese stock, with a value around 620 mln euros.

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Telecom Italia strengthens (+4.2%) after S&P Global yesterday upgraded its rating by two notches to 'BB' following the sale of the network to Kkr. For Equita, "the news was expected and confirms the group's improved credit standing, leaving open further upside if the options related to Sparkle, Inwit and the concession fee are executed."

Saipem (+2.8 percent) also runs, supported by comments from Barclays that the outlook for energy services companies continues to improve. Against this backdrop, the broker reaffirms its 'Overweight' rating on Saipem, while cutting its rating on Maire to 'Equal-weight,' which gives up 1 percent.

Also up today in Prysmian (+2.2%), helped by JP Morgan's resumption of coverage with '0verweight' after yesterday's 'Buy' from Jefferies.

In automotive Iveco rises 1.5% benefiting from news of a €225 million contract to supply more than 900 buses in Austria.

Among banks, generally positive, highlighted Mps at +1.6%, still the focus of attention for prospects on the banking resurgence, while Banco Bpm and Pop Sondrio remain behind.

Tonic Webuild, up 2.8% after the announcement of an agreement with Edison (-0.3%) to develop hydroelectric pumping projects in southern Italy.

Among the smaller stocks, Landi Renzo jumps more than 9 percent after an agreement with banks to reshape debt as part of a capital strengthening operation involving the entry of the Fondo salvaguardia imprese, promoted by Mimit and managed by Invitalia, into the company's shareholder base.

(Andrea Mandalà, editing Stefano Bernabei)