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Proft-Taking Mutes European Bourses Midday
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Proft-Taking Mutes European Bourses Midday
May 13, 2024 4:58 AM

07:39 AM EDT, 05/13/2024 (MT Newswires) -- European bourses were muted on the downside midday Monday as traders booked profits from markets trading near all-time record highs and awaited fresh catalysts.

Bank stocks edged higher, while property shares lagged.

Investors also eyed modestly higher Wall Street futures, but uneven closes overnight on Asian exchanges.

The pan-continental Stoxx Europe 600 Index was steady mid-session.

The Stoxx Europe 600 Technology Index was down 0.1%, while the Stoxx 600 Banks Index gained 0.2%.

The Stoxx Europe 600 Oil and Gas Index was off 0.1%, while the Stoxx 600 Europe Food and Beverage Index was flat.

The REITE, a European REIT index, fell 0.2%, while the Stoxx Europe 600 Retail Index edged 0.1% higher.

On the national market indexes, Germany's DAX was down 0.2%, and the FTSE 100 in London was down 0.1%. The CAC 40 in Paris was off 0.3%, and Spain's IBEX 35 lost 0.2%.

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

Front-month North Sea Brent crude oil futures were up 0.5% at $83.19 per barrel.

The Euro Stoxx 50 volatility index was up 2.4% at 13.92, 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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