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Higher Interest Rates, Oil Prices Dent European Bourses Midday

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European bourses tracked moderately lower midday Monday as traders weighed rising interest rates and oil prices, and awaited clarity on the latest round of hostilities in the Persian Gulf.

Iran and Israel continued on Monday to trade missile strikes, following attacks initiated on Sunday.

Oil stocks led gains on continental trading floors, while tech shares lagged.

Investors also eyed Wall Street futures in the green, but solidly lower closes overnight on Asian exchanges, including an 8.3% divot on Seoul's tech-heavy KOSPI index.

In economic news, the Eurozone investor confidence index improved in June to a negative 13.4, up from a negative 16.4 in May, reported Sentix.

The pan-continental Stoxx Europe 600 Index was off 0.3% mid-session.

The Stoxx Europe 600 Technology Index was down 0.2%, and the Stoxx 600 Banks Index lost 0.1%.

The Stoxx Europe 600 Oil and Gas Index rose 0.6%, while the Stoxx 600 Europe Food and Beverage Index inclined 0.1%.

The REITE, a European REIT index, fell 0.1%.

On the national market indexes, Germany's DAX was down 0.7%, and the FTSE 100 in London gained 0.3%. 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 3.04%.

Front-month North Sea Brent crude-oil futures were up 2% at $94.97 a barrel.

The Euro Stoxx 50 volatility index was up 9% at 20.24, 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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