MILAN (Reuters) - Piazza Affari edged up around parity at mid-day, above the morning lows from which it recovered thanks to the positive intonation of futures on Wall Street indexes.

In the euro zone, the October Pmi composite index fell to near three-year lows, worse than expected, with data on Germany suggesting a recession is already underway.

Around 11:50 a.m., the Ftse Mib index rose 0.1 percent with volume around 700 million.

Among the headlines:

Among weak banks in Europe, penalized by the collapse of Barclays after its results, the sector in Milan is down modestly (-0.3% on average). After morning swings UniCredit gives up 0.1% after an above-expected quarterly report.

Weak Mps, Banco Bpm and Bper with declines between 1.7% and 2%. Carlo Cimbri, chairman of Unipol--Bper's largest shareholder--said Mps is not part of the Emilian institution's strategy and that he does not see M&A deals between banks on the horizon in Italy.

Still tonic in luxury after Hermes surprised the market with strong sales. Moncler +1.6%, Tod's +2%, Cucinelli +1.5%, Ferragamo +1.2%.

Erg, Inwit and Saras accelerated in the late morning, all up more than 2%, amid a positive environment for the energy sector (Eni +0.7%)

Always buoyant Olidata (+7%), which has been on the rocks since yesterday in the wake of a contract with Poste.

(Claudia Cristoferi, editing Stefano Bernabei, Francesca Piscioneri)