Global Market News

US Inflation Outlook Limits European Markets Midday


Last updated: 05/14/2024 07:42:54

07:42 AM EDT, 05/14/2024 (MT Newswires) -- European stock markets were steady midday Tuesday, as traders awaited fresh market catalysts and pending inflation reports from Washington.

Bank stocks edged higher, while most sectors were muted.

Investors also eyed flat Wall Street futures and uneven closes overnight on Asian exchanges.

The ZEW Indicator of Economic Sentiment for Germany rose to 47.1 in May from 42.9 in April, thus striking the highest level since February 2022, reported the Center for European Economic Research.

The pan-continental Stoxx Europe 600 Index was steady mid-session.

The Stoxx Europe 600 Technology Index was flat, and the Stoxx 600 Banks Index gained 0.3%.

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

The REITE, a European REIT index, rose 0.1%, and the Stoxx Europe 600 Retail Index inclined 0.1%.

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

Yields on benchmark 10-year German bonds were higher, near 2.52%.

Front-month North Sea Brent crude oil futures were down 0.3% to $83.14 per barrel.

The Euro Stoxx 50 volatility index was up 0.6% to 14.01, 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.
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