06:48 AM EST, 11/19/2024 (MT Newswires) -- European bourses tracked lower midday Tuesday after Russian President Vladimir Putin publicly approved an updated nuclear doctrine that lowers the bar on the use of atomic weapons in the Eastern European theater.

Property issues backed trends and eked out gains, while bank stocks led broad market retreats. Yields on safe-haven bonds declined.

Investors also eyed Wall Street futures signaling red, but higher closes overnight on Asian exchanges, although trading floors in Asia were closed before media reports on the new Russian doctrine.

UK service-sector inflation rates are still too high, but gradual interest-rate cuts are still on the table, Bank of England Governor Andrew Bailey told the UK Parliament Treasury Select Committee.

The pan-continental Stoxx Europe 600 Index was off 0.9% mid-session.

The Stoxx Europe 600 Technology Index was off 0.9%, and the Stoxx 600 Banks Index lost 1.9%.

The Stoxx Europe 600 Oil and Gas Index was off 0.8%, and the Stoxx 600 Europe Food and Beverage Index declined 0.9%.

The REITE, a European REIT index, rose 0.1%, but the Stoxx Europe 600 Retail Index declined 1%.

On the national market indexes, Germany's DAX was down 1.1%, and the FTSE 100 in London was down 0.4%. The CAC 40 in Paris was off 1.1%, and Spain's IBEX 35 lost 1.5%.

Yields on benchmark 10-year German bonds were lower, near 2.31%.

Front-month North Sea Brent crude-oil futures were down 0.4% to $72.97 per barrel.

The Euro Stoxx 50 volatility index was up 12.7% to 20.04, indicating marginally above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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