Piazza Affari continued its upward trend, fueled by strong performances from Stellantis and STMicroelectronics, amid a renewed appetite for risk across Europe. This positive sentiment was further supported by encouraging signals from Wall Street futures.

Beyond select movements--particularly in the technology sector--investors remain focused on the Federal Reserve's upcoming decisions. Today's macroeconomic data, especially the ADP employment report, which has recently gained prominence over traditional labor market statistics, will be closely watched.

Attention is also on the ISM services survey, as markets await Friday's release of the September Core PCE numbers, which were delayed due to the government shutdown.

"Today's U.S. data could jolt the market out of its recent lethargy, but it is unlikely to fundamentally alter expectations for next week's Fed meeting, which is the most significant event in December," strategists at MPS commented in their daily note.

While a rate cut is now widely expected, the market will be looking for clues about the Fed's stance for the first part of 2026.

Around 13:10, the FTSE MIB index was up 0.53%, with trading volumes reaching EUR1.5 billion.

Stocks in the spotlight:

** STELLANTIS led the FTSE MIB, surging 7.8% following several broker upgrades and expectations of a relaxation in U.S. automotive energy standards.

** STMicroelectronics gained over 4% as the tech sector heated up, buoyed by Marvell Technology's announcement of a $3.25 billion acquisition of semiconductor startup Celestial AI, boosting investor confidence in the chipmaker's strategy for next-generation AI infrastructure.

** The oil sector also attracted buying interest, supported by rising crude prices in a market that still sees no breakthrough in peace talks over Ukraine, which could ease sanctions on Russian oil. SAIPEM rose 2.4%, TENARIS 2.1%, and ENI 1.1%.

** In contrast, utilities lost ground, as the sector tends to underperform during periods of increased risk appetite.

** ITALGAS (-1.9%) and ENEL (-0.8%) were also pressured by recommendation downgrades from Morgan Stanley.

** Profit-taking continued on BUZZI (-1.5%), which was hit by a JP Morgan downgrade to 'neutral' from 'overweight', citing rising costs at the cement group and the stock's strong rally in 2025.

** Banks were generally positive, with MPS rebounding after four consecutive negative sessions, up 2.4%, while heavyweights UNICREDIT and INTESA gained 1.1% and 0.5%, respectively.

** DOVALUE soared more than 5% following the announcement of a new strategic agreement with Banco Santander to manage new flows of NPLs in Spain.

(Reporting by Andrea Mandalà, editing by Francesca Piscioneri)