Piazza Affari is weak late morning on the heels of European equities and weighed down by banking stocks after disappointing PMI data in Germany, France and the eurozone as a whole.

Around 11:20 a.m., the Ftse Mib gives up 0.97 percent with volumes of €1.7 billion.

Among the featured stocks:

The Italian bank index gives up 2 percent with particularly sharp declines for Banca Mps (-2.95 percent), Bper Banca (-2.54 percent) and UniCredit (-2.54 percent).

Amplifon gives up 3.31% as it looks to rearrange portfolios ahead of technical maturities in the US, reports a trader. Over the past nine months, the stock has a positive performance of more than 14 percent and is at +6.4 percent since the beginning of the year.

Fincantieri recovers from lows and gives up 0.6 percent after skidding early in the session following the announcement of the price for the subscription of the capital increase that starts Monday.

Weak Intercos (-5.9%) after the placement by partner The Innovation Trust of about 6.8% of the capital at 15.2 euros per share.

(Gianluca Semeraro, editing Claudia Cristoferi)