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Yields, Earnings Lift European Bourses Midday
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Yields, Earnings Lift European Bourses Midday
Feb 10, 2025 4:14 AM

06:45 AM EST, 02/10/2025 (MT Newswires) -- European bourses tracked midday tracked higher midday Monday as traders weighed the earnings season, stable interest rates, and oil prices.

BP, the British oil giant, traded up 6.5% mid-session on the outlook for higher petroleum prices if international and US sanctions clamp down on Russian and Iranian crude shipments.

Property, tech, retail and oil stocks led broad gains.

Investors also eyed Wall Street futures signaling green, but uneven closes overnight on Asian exchanges.

In economic news, the Sentix Investor Confidence Index for the eurozone rose to negative 12.7 in February from negative 17.7 in January, the market research outfit reported.

The pan-continental Stoxx Europe 600 Index was up 0.4% mid-session.

The Stoxx Europe 600 Technology Index was up 0.8%, and the Stoxx 600 Banks Index gained 0.1%.

The Stoxx Europe 600 Oil and Gas Index was up 1.2%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.3%.

The REITE, a European REIT index, rose 1.1%, and the Stoxx Europe 600 Retail Index inclined 0.8%.

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

Yields on benchmark 10-year German bonds were higher, near 2.38%.

Front-month North Sea Brent crude-oil futures were up 1.3% to $75.61 per barrel.

The Euro Stoxx 50 volatility index was down 0.4% to 16.64, 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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