Global Market News

European Bourses Track Lower in Global Equities Slump


Last updated: 01/14/2022 06:34:50

06:34 AM EST, 01/14/2022 (MT Newswires) -- European bourses tracked lower at midday as traders weighed the pandemic outlook and joined a global slump in equities. Tech issues led losers, while oil stocks gained.

Market denizens also noted a Wall Street futures market modestly in the green, but lower closes overnight on Asian exchanges.

The Ukrainian government said it was struck by a "massive cyberattack" that brought down Ministry of Foreign Affairs and other government websites.

The UK gross domestic product (GDP) rose 0.9% in November from October, reported the Office for National Statistics.

The pan-continental Stoxx Europe 600 Index was down 0.6% mid-session.

The Stoxx Europe 600 Technology Index was off 1.4%, and the Stoxx 600 Banks Index was down 0.1%.

The Stoxx Europe Oil and Gas Index was up 0.6%, but the Stoxx Europe Food and Beverage Index was off 0.1%.

The REITE, a European REIT index, bucked trends and was up 0.3%, while the Stoxx Europe 600 Insurance Index was off 0.3%.

On the national market indices, the German DAX was off 0.6%, the FTSE 100 Index in London was steady, and the CAC 40 in Paris was off 0.6%. Spain's IBEX 35 was off 0.1%.

Yields on benchmark 10-year German bonds were more negative at minus 0.06%.

Front-month Brent crude oil futures were 1.4% higher at $85.65 per barrel.

The Euro Stoxx 50 volatility index was up 9.8% to 20.26, 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 expectations for calmer markets.
Copyright © 2022 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

Quotes displayed with 15 minutes delay. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. News provided by MT Newswires, a Division of MidnightTrader, Inc. Events Data provided by Wall Street Horizon. ©2021 Wall Street Horizon, Inc.