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Geopolitical Strife, Central Bank OutlooksDent European Bourses Midday
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Geopolitical Strife, Central Bank OutlooksDent European Bourses Midday
Dec 10, 2024 4:06 AM

06:43 AM EST, 12/10/2024 (MT Newswires) -- European bourses tracked moderately lower midday Tuesday as traders awaited results from the European Central Bank meeting slated for Thursday, and mulled tumult in the Middle East and Eastern Europe.

Food and beverage stocks edged higher, while oil and property issues lagged.

Investors also eyed muted Wall Street futures, and uneven closes overnight on Asian exchanges.

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

The Stoxx Europe 600 Technology Index was off 0.4%, and the Stoxx 600 Banks Index was steady.

The Stoxx Europe 600 Oil and Gas Index was off 0.7%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.3%.

The REITE, a European REIT index, fell 0.7%, and the Stoxx Europe 600 Retail Index declined 0.3%.

On the national market indexes, Germany's DAX was flat, and the FTSE 100 in London was down 0.6%. The CAC 40 in Paris was off 0.6%, and Spain's IBEX 35 lost 0.1%.

Yields on benchmark 10-year German bonds were higher, near 2.13%.

Front-month North Sea Brent crude-oil futures were down 0.6% to $71.74 per barrel.

The Euro Stoxx 50 volatility index was up 3.3% to 15.16, 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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