Global Market News

Rate Outlooks Spur European Bourses Midday


Last updated: 11/29/2023 06:45:57

06:45 AM EST, 11/29/2023 (MT Newswires) -- European bourses tracked moderately higher midday Wednesday as benchmark bond yields in the US and Europe softened.

Yields on benchmark 10-year German bonds were lower, near 2.44%, compared with near 3% in mid-October.

Tech and property stocks led gainers, while bank issues lagged.

Investors also eyed Wall Street futures signaling green, but lower closes overnight on Asian exchanges.

The European Economic Sentiment Indicator improved mildly in both the broader European Union, up to 93.7 in November from 93.2 in October, and in the euro area, up to 93.8 from 93.5, reported the European Commission.

The pan-continental Stoxx Europe 600 Index was up 0.5% mid-session.

The Stoxx Europe 600 Technology Index was up 1.5%, but the Stoxx 600 Banks Index lost 0.1%.

The Stoxx Europe 600 Oil and Gas Index was off 0.1%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.1%.

The REITE, a European REIT index, rose 1.1%, and the Stoxx Europe 600 Retail Index inclined 0.3%.

On the national market indexes, Germany's DAX was up 0.9%, and the FTSE 100 in London was steady. The CAC 40 in Paris was up 0.5%, and Spain's IBEX 35 gained 0.6%.

Front-month North Sea Brent crude-oil futures were up 1.2% to $82.66 per barrel.

The Euro Stoxx 50 volatility index was down 3.3% to 13.70, indicating below-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.
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.