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European Bourses Trend Lower on Last Full Trading Day of 2024
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European Bourses Trend Lower on Last Full Trading Day of 2024
Dec 30, 2024 4:09 AM

06:48 AM EST, 12/30/2024 (MT Newswires) -- Stock markets in Europe were mostly down midday Monday as traders wind down the year on the last full-day session of 2024.

Food and beverage stocks advanced, while oil and property issues were mostly down.

Investors also watched as Wall Street futures declined and Asian markets remained mostly down on compounded troubles in South Korea following a major plane crash and continued political troubles.

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

The Stoxx Europe 600 Technology Index was off 0.6%, and the Stoxx 600 Banks Index gained 0.5%.

The Stoxx Europe 600 Oil and Gas Index was off 0.4%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.6%.

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

On the national market indexes, Germany's DAX was down 0.1%, and the FTSE 100 in London was down 0.2%. The CAC 40 in Paris, on track for its worst showing since the Eurozone crisis more than a decade ago, was up 0.2% while Spain's IBEX 35 gained 0.5%.

Yields on benchmark 10-year German bonds were steady at nearly 2.4%.

Front-month North Sea Brent crude-oil futures were down 0.1% to $74.08 per barrel.

The Euro Stoxx 50 volatility index was up 2.3% to 16.64, indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates turbulent markets ahead, while below 20 suggests steadier exchanges.

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