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Inflation, Central Bank Outlooks Dull European Bourses Midday
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Inflation, Central Bank Outlooks Dull European Bourses Midday
Sep 11, 2024 5:00 AM

07:35 AM EDT, 09/10/2024 (MT Newswires) -- European bourses tracked modestly lower midday Tuesday as traders awaited the Thursday rate decision from the European Central Bank and the Wednesday inflation bulletin from Washington.

Real estate and tech stocks led gainers, while oil shares lagged.

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

Germany's consumer prices rose 1.9% year over year in August and declined 0.1% from July, Destatis reported.

The pan-continental Stoxx Europe 600 Index was off 0.1% mid-session.

The Stoxx Europe 600 Technology Index was up 0.5%, while the Stoxx 600 Banks Index lost 0.3%.

The Stoxx Europe 600 Oil and Gas Index was down 0.4%, while the Stoxx 600 Europe Food and Beverage Index edged 0.5% higher.

The REITE, a European REIT index, rose 0.8%, and the Stoxx Europe 600 Retail Index was up 0.2%.

On the national market indexes, Germany's DAX was down 0.3%, and the FTSE 100 in London was 0.5% lower. The CAC 40 in Paris was up 0.2%, and Spain's IBEX 35 gained 0.2%.

Yields on benchmark 10-year German bonds were higher, near 2.18%.

Front-month North Sea Brent crude oil futures were down 0.9% at $71.18 per barrel.

The Euro Stoxx 50 volatility index was down 4.3% at 19.36, indicating modestly 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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