06:42 AM EST, 12/05/2024 (MT Newswires) -- European bourses tracked modestly higher Thursday following a French parliamentary no-confidence vote that toppled Prime Minister Michel Barnier's government, as traders anticipated the next phase of rule from Paris.

French bonds yields edged lower, while the nation's stock market lodged small gains.

Continent-wide, bank and tech stocks rose, while oil issues lagged.

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

In economic news, Italy's gross domestic product (GDP) is expected to expand by 0.5% in 2024, a downward revision from the 1% growth forecast made in June, the National Institute of Statistics said. The nation's GDP is projected to increase by 0.8% in 2025, down from 1.1% in the previous report.

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

The Stoxx Europe 600 Technology Index was up 0.7%, and the Stoxx 600 Banks Index gained 1.3%.

The Stoxx Europe 600 Oil and Gas Index was off 0.2%, but the Stoxx 600 Europe Food and Beverage Index declined 0.1%.

The REITE, a European REIT index, fell 0.2%, but the Stoxx Europe 600 Retail Index inclined 0.1%.

On the national market indexes, Germany's DAX was up 0.3%, and the FTSE 100 in London was flat. The CAC 40 in Paris was up 0.2%, and Spain's IBEX 35 gained 1.1%.

Yields on benchmark 10-year German bonds were steady, near 2.06%.

Front-month North Sea Brent crude-oil futures were up 0.6% to $72.77 per barrel.

The Euro Stoxx 50 volatility index was down 2.3% to 15.48, 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.

http://www.mtnewswires.com
Copyright © 2024 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.