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Geopolitical Tensions, US Inflation Outlook Damp European Bourses Midday

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Last updated: 10/10/2024 07:45:55

07:45 AM EDT, 10/10/2024 (MT Newswires) -- European bourses tracked moderately lower midday Thursday as traders mulled geopolitical tensions, and awaited the pending inflation report from Washington.

Bank and oil stocks edged forward, while property and tech issues lagged.

Investors also eyed Wall Street futures signaling red, but higher closes overnight on Asian exchanges.

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

The Stoxx Europe 600 Technology Index was off 1%, and the Stoxx 600 Banks Index gained 0.3%.

The Stoxx Europe 600 Oil and Gas Index was up 0.2%, but the Stoxx 600 Europe Food and Beverage Index declined 0.3%.

The REITE, a European REIT index, fell 0.8%, and the Stoxx Europe 600 Retail Index declined 0.1%.

On the national market indexes, Germany's DAX was down 0.1%, and the FTSE 100 in London was down 0.3%. The CAC 40 in Paris was off 0.3%, and Spain's IBEX 35 lost 0.9%.

Yields on benchmark 10-year German bonds were higher, near 2.28%.

Front-month North Sea Brent crude-oil futures were up 1.2% to $77.53 per barrel.

The Euro Stoxx 50 volatility index was up 0.4% to 19.45, still indicating modestly 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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