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Earnings, NY Cues, Geopolitics Dampen European Bourses Midday
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Earnings, NY Cues, Geopolitics Dampen European Bourses Midday
Oct 23, 2024 5:23 AM

07:48 AM EDT, 10/23/2024 (MT Newswires) -- European bourses tracked moderately lower midday Wednesday as traders digested earnings reports, weighed Wall Street cues and awaited clarity on Middle East and Eastern European tensions.

Tech stocks edged higher on the continent, while oil and retail issues lagged.

Investors also eyed New York futures signaling red, and choppy closes overnight on Asian exchanges.

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

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

The Stoxx Europe 600 Oil and Gas Index was off 0.6%, and the Stoxx 600 Europe Food and Beverage Index was flat.

The REITE, a European REIT index, fell 0.1%, and the Stoxx Europe 600 Retail Index declined 0.3%.

On the national market indexes, Germany's DAX was down 0.3%, and the FTSE 100 in London was down 0.4%. The CAC 40 in Paris was off 0.7%, and Spain's IBEX 35 was steady.

Yields on benchmark 10-year German bonds were lower, near 2.30%.

Front-month North Sea Brent crude-oil futures were down 2% to $74.52 per barrel.

The Euro Stoxx 50 volatility index was up 0.6% to 18.71, 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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