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European Bourses Track Lower Midday Ahead of US Jobs Report

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Last updated: 08/05/2022 07:40:10

07:40 AM EDT, 08/05/2022 (MT Newswires) -- European bourses tracked lower midday Friday ahead of the pending July US employment situation report. Most stock sectors were mildly lower, with oil issues leading decliners.

Market denizens also weighed a dull pre-bell New York futures market, but higher closes overnight on Asian exchanges, led by a 2.3% rise in Taiwan.

The pan-continental Stoxx Europe 600 Index was off 0.3% mid-session.

The Stoxx Europe 600 Technology Index was off 0.4%, while the Stoxx 600 Banks Index fell 0.1%.

The Stoxx Europe 600 Oil and Gas Index fell 1.2%, but the Stoxx Europe Food and Beverage Index was off 0.2%.

The REITE, a European REIT index, fell 0.1%, while the Stoxx Europe 600 Insurance Index fell 0.3%.

On the national market indexes, Germany's DAX was down 0.03%, and the FTSE 100 in London fell 0.1%. The CAC 40 in Paris was 0.5% lower, but Spain's IBEX 35 bucked trends and was up 0.1%.

Yields on benchmark 10-year German bonds were steady, near 0.842%.

Front-month North Sea Brent crude-oil futures were lower, near $94.04 per barrel.

The Euro Stoxx 50 volatility index was up nearly 1% to 22.62, indicating modestly above-average volatility for European stock markets in the next 30 days. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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