07:42 AM EDT, 04/18/2024 (MT Newswires) -- European bourses tracked modestly higher midday Thursday as traders weighed easing yields on benchmark sovereign bonds, and a strong European construction-sector report.

Food and bank stocks gained, while oil issues lagged.

Investors also eyed Wall Street futures signaling green, and largely higher closes overnight on Asian exchanges.

Seasonally adjusted construction increased by 1.8% in February over January in both the euro area and the broader European Union, Eurostat reported. On year in February, construction output fell by 0.4% the euro area and by 0.6% in the EU.

New car registrations in Europe fell 5.2% on year in March to 1.03 million units, reported the European Automobile Manufacturers' Association. EV sales weakened.

The pan-continental Stoxx Europe 600 Index was up 0.2% mid-session.

The Stoxx Europe 600 Technology Index was up 0.1%, and the Stoxx 600 Banks Index gained 0.9%.

The Stoxx Europe 600 Oil and Gas Index was off 1.2%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.7%.

The REITE, a European REIT index, rose 0.6%, but the Stoxx Europe 600 Retail Index was flat.

On the national market indexes, Germany's DAX was up 0.1%, and the FTSE 100 in London was up 0.1%. The CAC 40 in Paris was up 0.4%, and Spain's IBEX 35 rose 0.6%.

Yields on benchmark 10-year German bonds were lower, near 2.46%.

Front-month North Sea Brent crude-oil futures were down 0.9% to $86.51 per barrel.

The Euro Stoxx 50 volatility index was down 3.4% to 17.83, 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.

http://www.mtnewswires.com
Copyright © 2024 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.