Global Market News

Rates, Global Cues Hold Europe Bourses Steady Midday


Last updated: 11/21/2023 06:43:31

06:43 AM EST, 11/21/2023 (MT Newswires) -- European bourses tracked sideways midday Tuesday as traders weighed geopolitics, global interest rates and awaited a presentation by European Central Bank President Christine Lagarde at the German Ministry of Finance, at 11:15 am ET.

Food and tech stocks gained, while oil and bank issues lagged.

Investors also eyed mostly flat Wall Street futures, and mixed closes overnight on Asian exchanges.

Yields on benchmark German 10-year bonds held below 2.60%.

The pan-continental Stoxx Europe 600 Index was down 0.1% mid-session.

The Stoxx Europe 600 Technology Index was up 0.4%, but the Stoxx 600 Banks Index lost 0.7%.

The Stoxx Europe 600 Oil and Gas Index was off 0.7%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.4%.

The REITE, a European REIT index, fell 0.7%, and the Stoxx Europe 600 Insurance Index declined 0.1%.

On the national market indexes, Germany's DAX was up 0.1%, and the FTSE 100 in London was down 0.6%. The CAC 40 in Paris was off 0.3%, and Spain's IBEX 35 lost 0.1%.

Yields on benchmark 10-year German bonds were lower, near 2.59%.

Front-month North Sea Brent crude-oil futures were down 0.4% to $81.98 per barrel.

The Euro Stoxx 50 volatility index was down/up 4.2% to 23.56, indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.
Copyright © 2023 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

Quotes displayed with 15 minutes delay. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. News provided by MT Newswires, a Division of MidnightTrader, Inc. Events Data provided by Wall Street Horizon. ©2021 Wall Street Horizon, Inc.