06:46 AM EST, 11/27/2024 (MT Newswires) -- European bourses tracked moderately lower midday Wednesday as traders weighed soft global equity markets and mounting concerns regarding the financial stability of the French government.

Yields on French sovereign 10-year bonds widened to 90 basis points higher than their German equivalent, the largest spread since 2012 and indicative of growing skepticism over the country's fiscal condition.

The French CAC 40 national stock index struck a fresh low for 2024 in midday trades.

Food and property stocks increased while bank, tech, and retail issues lagged.

Investors also eyed Wall Street futures signaling red and choppy closes overnight on Asian exchanges.

Market research company GfK and the Nuremberg Institute for Market Decisions reported that a German consumer confidence index is projected to decline to negative 23.3 in December from negative 18.4 in November.

The pan-continental Stoxx Europe 600 Index was off 0.4% mid-session.

The Stoxx Europe 600 Technology Index was off 0.9%, and the Stoxx 600 Banks Index lost 1%.

The Stoxx Europe 600 Oil and Gas Index was off 0.4%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.2%.

The REITE, a European REIT index, rose 0.4%, but the Stoxx Europe 600 Retail Index declined 1%.

On the national market indexes, Germany's DAX was down 0.7%, and the FTSE 100 in London was steady. The CAC 40 in Paris was off 1.3%, and Spain's IBEX 35 lost 1%.

Yields on benchmark 10-year German bonds were lower, near 2.16%.

Front-month North Sea Brent crude oil futures were up 0.5% to $72.65 per barrel.

The Euro Stoxx 50 volatility index was up 8.4% to 18.86, but still 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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