Pending concrete confirmation of hopes for a U.S.-Iran agreement that bolstered markets yesterday, Piazza Affari is focusing on a wave of quarterly results. The benchmark index remains little changed, reflecting a cautious stance seen across other European markets.

Around 9:20 a.m., the FTSE Mib index is up 0.15%.

Quarterly earnings and full-year guidance are dominating the session. CAMPARI is plunging by approximately 11% following its results released after yesterday's closing bell. TENARIS is shedding 6% after reporting last night, warning that the Middle East crisis will weigh on its second-quarter performance.

BPER is also under pressure following its quarterly update, which was positive but lacked significant surprises.

On the upside, POSTE is in the spotlight, rising 3% after beating forecasts and raising its outlook. NEXI is performing well, though trading off its initial highs, following results that topped consensus estimates.

Luxury stocks are recovering on hopes of easing geopolitical tensions, with FERRAGAMO jumping nearly 5% and CUCINELLI gaining 3%.

(Claudia Cristoferi, editing Andrea Mandalà)