Piazza Affari confirms the rebound supported by the positive performance of U.S. futures amid a favorable backdrop for equity markets thanks to the stabilization of government bond yields after sharp rises and the relief offered by the U.S. tariff indiscretions.

According to Bloomberg, the new Trump administration is reportedly working on a gradual approach to implementing duties (in the range of 2-5 percent per month) so as to avoid a major impact on inflation.

"As happened a week ago, the indiscretion could be promptly denied by the president himself, but at the moment the market prefers to look at the glass half full," Mps strategists comment in the daily.

After signs of recovery highlighted as early as yesterday afternoon, the markets have already positioned themselves since this morning's opening to take advantage of the change in sentiment, picking up on some neglected themes, especially those most supported by analysts' comments, explains one trader, who nonetheless does not yet see a decisive market momentum.

Dictating caution is the wait on Pce U.S. data, the Fed's preferred inflation measure, scheduled for tomorrow, and which will be preceded by producer price statistics this afternoon.

At 12:50 p.m., the Ftse Mib rises 1 percent. Trade of 1.1 billion euros in counter value.

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Among the best in the Ftse Mib is Pirelli, up about 2.5 percent buoyed by positive ratings from Goldman Sachs, which upgraded its rating on the tire group's shares to 'buy' from 'neutral.'

A2A strong with up 2 percent. Supporting the rally on the utility - a moderately positive sector today in line with the entire market - is the positive rating from Equita which, as part of its revised outlook on 2025, upgraded its rating to 'Buy' with a target price of 2.7 euros. The company's strategies, among the most balanced in the industry, attractive growth rates in the coming years, and attractive multiples lead Equita to include the stock in its 'recommended portfolio'.

Telecom Italia (+3.5 percent) accelerates on the day of the Milan court ruling that rejected Vivendi's appeal on the sale of the network, declaring it "inadmissible." The French group, Tim's main shareholder, said it will appeal the court's decision.

Also well rallied was Brunello Cucinelli, up 1.8 percent after the fashion house reported better-than-expected 2024 sales figures yesterday with markets closed and confirmed, in a confident tone, its outlook for 2025-2026.

Supporting the Milanese list in particular are bank stocks, always in the spotlight of investors due to the new M&A turmoil that is affecting the sector. Among the best today, Pop Sondrio and Intesa Sanpaolo mark gains of more than 2 percent, followed by UniCredit, Banco Bpm and Mediobanca with advances above 1 percent.

Bucking the trend, also among financials, Nexi is at the bottom of the Ftse Mib with a drop of more than 5 percent to record lows after Morgan Stanley cut its recommendation to 'underweight' from 'equal weight,' highlighting the Italian payments company's higher growth risks compared to its competitors.

Oil stocks fall on profit-taking in the wake of retracement in crude oil prices, which though remain close to the highs of the past four months. Eni loses 0.8 percent, Saipem and Tenaris 0.3 percent.

(Andrea Mandalà, editing Stefano Bernabei)