The euro area's industrial production rose 0.2% month over month in March, after a revised 0.2% increase in February, Eurostat data showed Wednesday.
The consensus estimate for the month was a 0.3% climb.
On a yearly basis, industrial production recorded a 2.1% decline, compared with the revised 0.8% decrease earlier and the expected 1.7% drop.
European bourses tracked moderately higher midday Wednesday as continental traders joined the global tech-sector rally and as oil shares tracked higher on prospects for tight crude markets going forward.In contrast, bank, food and property stocks lagged in midday trading.Investors also eyed Wall Street futures flashing green amid higher closes overnight on Asian exchanges, including fresh zeniths on equity indices in Seoul and Tokyo.In economic news, seasonally adjusted industrial production in the eurozone gained 0.2% month over month in March and rose 0.8% in the broader EU, Eurostat reported. Year over year, industrial output fell 2.1% in the euro area and by 1% in the EU.The pan-continental Stoxx Europe 600 Index was up 0.3% mid-session.The Stoxx Europe 600 Technology Index rose 2%, while the Stoxx 600 Banks Index lost 0.2%.The Stoxx Europe 600 Oil and Gas Index rose 0.9%, while the Stoxx 600 Europe Food and Beverage Index declined 0.7%.The REITE, a European REIT index, fell 0.7%.On the national market indexes, Germany's DAX was up 0.7%, and the FTSE 100 in London was steady. The CAC 40 in Paris was down 0.4%, and Spain's IBEX 35 eased 0.2%.Yields on benchmark 10-year German bonds were higher, near 3.1%.Front-month North Sea Brent crude-oil futures were up 0.1% at $107.85 a barrel.The Euro Stoxx 50 volatility index was down 3.9% at 22.43, 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.
Mortgage applications rose by 1.7% in the week ended May 8 after a 4.4% fall in the previous week, with the home purchase applications driving the increase despite a small uptick in mortgage rates, according to Mortgage Bankers Association data released Wednesday.Applications for refinancing loans fell by 1%, while new purchase applications rose by a seasonally adjusted 4%.The average contract interest rate for 30-year fixed mortgages with loan balances of $832,750 or less rose to 6.46% from 6.45% in the previous week, the highest level in five weeks."Purchase applications were higher over the week and 7% ahead of last year's pace, with all loan types showing increases in purchase activity, as potential homebuyers shrugged off the current economic and mortgage rate uncertainties and returned to the market," said Joel Kan, MBA's vice president and deputy chief economist. "Refinance applications declined slightly, led by conventional and VA refinancings, and accounted for a little more than 40% of applications last week, the lowest share since July 2025."
Wall Street futures were mixed pre-bell Wednesday, as tech sector optimism more than offset concerns regarding crude prices, Persian Gulf turmoil, and the still-closed Strait of Hormuz.Chip colossus Nvidia (NVDA) rose 1.8% in premarket moves after media reports that CEO Jensen Huang has joined President Donald Trump's trip to China, and may also meet with China leader Xi Jinping.In the futures, the S&P 500 rose 0.2%, and the Nasdaq inclined 0.7%, although the Dow Jones was off 0.3%.Traders also await the April producer price index (PPI) bulletin at 8:30 am ET in Washington, to be plumbed for clues to the impact of higher oil bills on manufacturers and others.West Texas Intermediate crude oil traded near $102.18 a barrel, largely unchanged in morning action.Asian exchanges traded mostly higher overnight, with fresh all-time zeniths struck on equity indices in Seoul and Tokyo. European bourses tracked moderately north midday on the continent.On the economic calendar, in addition to the PPI release, is the weekly EIA petroleum status report at 10:30 am ET.Federal Reserve Boston President Susan Collins, Minneapolis President Neel Kashkari and Dallas President Lorie Logan are slated to speak on Wednesday.In premarket action, Bitcoin traded at $81,084, and 10-year US Treasuries offered 4.46%. Spot gold commanded $4,699 an ounce.