Earnings Season, Bond Yields, Anthropic IPO Lift European Bourses Midday

MT Newswires Live10-27 19:37

European bourses tracked modestly higher midday Tuesday as traders weighed the earnings season, bond yields, and supported tech shares after US-based AI modeler Anthropic overnight publicly filed its IPO, reporting large revenue gains and an anticipated November listing.

Property shares also gained, while oil and bank stocks lagged.

The pan-continental Stoxx Europe 600 Index was up 0.2% mid-session.

HSBC (HSBC) shares lost 6.5% midday after the UK-based global bank reported Q3 results below expectations.

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

In economic news, bank lending to non-financial Eurozone companies rose 4.2% on-year in September, reported the European Central Bank.

Eurozone government bond yields were mixed midday, with French government 10-year note yields edging higher to 4.95%, while like German bonds saw yields decline to 3.34%.

In the sectors, the Stoxx Europe 600 Technology Index was up 1.2%, but the Stoxx 600 Banks Index lost 0.6%.

The Stoxx Europe 600 Oil and Gas Index eased 0.5%, while the Stoxx 600 Europe Food and Beverage Index declined 0.2%.

The REITE, a European REIT index, rose 0.5%.

On the national market indexes, Germany's DAX was up 0.3%, and the FTSE 100 in London lost 0.7%. The CAC 40 in Paris was up 0.4%, and Spain's IBEX 35 lifted 0.3%.

Brent crude-oil futures were down 1.1% at $109.52 a barrel in midday trades.

The Euro Stoxx 50 volatility index was up 7.2% at 21.89, indicating 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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