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US Jobs Report, Bond Yields Cramp European Bourses Midday

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Last updated: 01/10/2025 06:46:30

06:46 AM EST, 01/10/2025 (MT Newswires) -- European bourses tracked evenly midday Friday as traders awaited the latest jobs report from Washington and weighed rising global bond yields.

Oil stocks gained on the continent, while retail issues faltered.

Investors also eyed flat Wall Street futures, but lower closes overnight on Asian exchanges on concerns that major central banks will ease less than expected in 2025.

In addition, the People's Bank of China disclosed it would halt purchases of Chinese sovereign bonds in what was perceived as a bid to shore up a weakening yuan.

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

The Stoxx Europe 600 Technology Index was up 0.1%, and the Stoxx 600 Banks Index lost 0.3%.

The Stoxx Europe 600 Oil and Gas Index was up 0.7%, but the Stoxx 600 Europe Food and Beverage Index declined 0.5%.

The REITE, a European REIT index, fell 0.3%, but the Stoxx Europe 600 Retail Index declined 0.9%.

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

Yields on benchmark 10-year German bonds were higher, near 2.56%.

Front-month North Sea Brent crude oil futures were up 2.8% to $79.08 per barrel.

The Euro Stoxx 50 volatility index was up 1% to 17.15, 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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