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Middle East Conflict Undercuts European Bourses Midday
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Middle East Conflict Undercuts European Bourses Midday
Jun 13, 2025 5:08 AM

07:45 AM EDT, 06/13/2025 (MT Newswires) -- European bourses tracked lower midday Friday as Tehran reportedly retaliated following Israel's strikes on nuclear facilities in Iran.

Tech and bank stocks led broad market declines, though oil issues gained.

The pan-continental Stoxx Europe 600 Index was off 0.7% mid-session.

Front-month North Sea Brent crude-oil futures were up 7.8% to $74.76 per barrel.

Investors also eyed Wall Street futures signaling red, and solidly lower closes overnight on Asian exchanges.

In economic news, industrial production in the eurozone rose by 0.8% on year in April, and by 0.6% in the broader European Union, reported Eurostat. However, eurozone seasonally adjusted industrial production fell by 2.4% in April from March, while in the EU output declined 1.8%.

In market segments, the Stoxx Europe 600 Technology Index was off 1.5%, and the Stoxx 600 Banks Index lost 1.4%.

The Stoxx Europe 600 Oil and Gas Index was up 1.4%, but the Stoxx 600 Europe Food and Beverage Index declined 0.5%.

The REITE, a European REIT index, fell 0.9%, and the Stoxx Europe 600 Retail Index declined 1.4%.

On the national market indexes, Germany's DAX was down 1.4%, and the FTSE 100 in London shed 0.3%. The CAC 40 in Paris was off 1.1%, and Spain's IBEX 35 lost 1.5%.

Yields on benchmark 10-year German bonds were steady, near 2.49%.

The Euro Stoxx 50 volatility index was up 14.4% to 22.15, indicating modestly 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 calmer exchanges.

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