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Earnings, Central Bank Views Nudge European Bourses Higher Midday

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Last updated: 10/11/2024 07:42:02

07:42 AM EDT, 10/11/2024 (MT Newswires) -- European bourses edged higher midday Friday as traders weighed central bank outlooks and the unfolding earnings season.

Property stocks gained, while tech shares lagged.

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

Germany's consumer price index rose 1.6% year over year in September, Destatis reported.

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

The Stoxx Europe 600 Technology Index was off 0.2%, but the Stoxx 600 Banks Index gained 0.3%.

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

The REITE, a European REIT index, rose 0.4%, and the Stoxx Europe 600 Retail Index edged 0.1% higher.

On the national market indexes, Germany's DAX was up 0.3%, and the FTSE 100 in London was down 0.1%. The CAC 40 in Paris was up 0.2%, and Spain's IBEX 35 gained 0.3%.

Yields on benchmark 10-year German bonds were higher, near 2.29%.

Front-month North Sea Brent crude-oil futures were down 0.7% at $78.83 per barrel.

The Euro Stoxx 50 volatility index was down 1.3% at 18.94, 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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