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Financial Stocks, Bayer Lift European Bourses Midday

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Last updated: 12/02/2025 06:56:12

06:56 AM EST, 12/02/2025 (MT Newswires) -- European bourses tracked moderately higher midday Tuesday on strength in financial issues, and gains in Bayer, the life-sciences giant.

Property and bank stocks led gains on continental trading floors, while retail shares lagged.

Bayer shares were up more than 10% midday after the Trump Administration urged the US Supreme Court to take up the Germany-based enterprise's bid to block lawsuits claiming its Roundup weed-killer caused cancer.

Investors also eyed Wall Street futures edging into the green, and tepid closes overnight on Asian exchanges, although Seoul rose 1.9% after the US cut its tariff to 15% from 25% on South Korean imports, pursuant to trade-deal terms negotiated in November.

In economic news, Eurozone's consumer price index (CPI) is expected to rise 2.2% on year in November, after a 2.1% on-year gain in October, Eurostat reported. On month, the November CPI is expected to decline by 0.3% from October.

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

The Stoxx Europe 600 Technology Index was up 0.2%, and the Stoxx 600 Banks Index gained 1.1%.

The Stoxx Europe 600 Oil and Gas Index rose 0.4%, while the Stoxx 600 Europe Food and Beverage Index gained 0.1%.

The REITE, a European REIT index, rose 0.8%, while the Stoxx Europe 600 Retail Index was down 0.1%.

On the national market indexes, Germany's DAX was up 0.7%, and the FTSE 100 in London gained 0.4%. The CAC 40 in Paris was up 0.4%, and Spain's IBEX 35 lifted 1.2%.

Yields on benchmark 10-year German bonds were steady, near 2.76%.

Front-month North Sea Brent crude-oil futures were down 0.4% at $62.95 a barrel.

The Euro Stoxx 50 volatility index was down 2.9% at 16.82, 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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