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Earnings, Bond Yields Lift European Bourses Midday
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Earnings, Bond Yields Lift European Bourses Midday
Jul 23, 2024 4:55 AM

07:33 AM EDT, 07/23/2024 (MT Newswires) -- European bourses tracked moderately higher midday Tuesday as traders weighed earnings reports, and as benchmark bond yields eased modestly.

Tech and food stocks led gains, while oil and property issues lagged.

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

The pan-continental Stoxx Europe 600 Index was up 0.6% mid-session.

The Stoxx Europe 600 Technology Index was up 1.9%, and the Stoxx 600 Banks Index gained 0.6%.

The Stoxx Europe 600 Oil and Gas Index was flat, but the Stoxx 600 Europe Food and Beverage Index inclined 1.8%.

The REITE, a European REIT index, fell 0.1%, but the Stoxx Europe 600 Retail Index inclined 0.8%.

On the national market indexes, Germany's DAX was up 1.3%, and the FTSE 100 in London was up 0.3%. The CAC 40 in Paris rose 0.5%, and Spain's IBEX 35 gained 0.7%.

Yields on benchmark 10-year German bonds were lower, near 2.45%.

Front-month North Sea Brent crude-oil futures were down 0.2% to $82.26 per barrel.

The Euro Stoxx 50 volatility index was down 5.4% to 14.84, 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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