Indices also flat today at the start of the session in Piazza Affari. The focus is always on the U.S. inflation data expected in the early afternoon, which does not incentivize investors to take a position.

Markets expect today's U.S. inflation data not to stand in the way of an interest rate cut next week.

Tomorrow, then, it will be the turn of the ECB, from which, however, investors do not expect any particular surprises either on the rate front-with a quarter-percentage-point cut in the cost of money already taken more or less for granted-or on that of the staff's new estimates of eurozone growth and inflation.

Positive closing on the Tokyo Stock Exchange this morning.

In Milan, around 9:30 a.m., the Ftse Mib rose a fractional 0.10 percent.

Few cues to report at the moment.

On the banking front, money on big Intesa (+0.43%) and Unicredit (+0.52%). Realizations, on the other hand, on Banco Bpm, which retreats 0.44% after last session's run on the push of m&a and Unicredit's Ops. La Repubblica newspaper writes that UniCredit and Credit Agricole had an initial meeting for Banco after the latter invested in rival Monte dei Paschi di Siena, but the talks proved fruitless. Mps rises 0.13 percent.

Cues on Raiway up 2.1% boosted by expectations of a merger with Ei Towers after Corriere della Sera article that the issue could be discussed at the Rai board meeting on December 19 or the first one in 2025 and Subsequently, Rai and F2i would sit at the table to work out the details of the combination. In the daily Intermonte writes that "the extraordinary dividend could be about 400 million (about 1 per share for current Rai Way shareholders), allowing Rai to collect about 130 million and Mfe about 60 million."

Oil sector sold off despite recovery in crude oil prices with Eni down 0.43%, while Saipem rebounds to +1.6%. Down Tenaris at -1.6 percent.

After yesterday's decline Leonardo rises again with 1.5% growth.

(Giancarlo Navach, editing Stefano Bernabei)