International
Earnings, Easing Oil Lift European Bourses Midday
European bourses tracked moderately higher midday Tuesday as traders weighed earnings reports, and easing oil prices.Food stocks led gains on continental trading floors, while tech and oil shares lagged.Unilever shares gained 7.7% mid-session after the London-based consumer products giant topped Q2 sales outlooks.Front-month North Sea Brent crude-oil futures were down 2.1% at $84.08 a barrel, on reports of possible IRGC-Washington ceasefire negotiations.Investors also eyed Wall Street futures flashing red, and sharply lower closes overnight on Asian exchanges, as semiconductor shares slumped.In economic news, Germany's Q2 industrial activity proved "surprisingly" robust given Persian Gulf turmoils, and, assisted by exports, the national economy is growing, the Bundesbank reported in its monthly bulletin.The pan-continental Stoxx Europe 600 Index was up 0.2% mid-session.The Stoxx Europe 600 Technology Index was down 0.7%, and the Stoxx 600 Banks Index lost 0.2%.The Stoxx Europe 600 Oil and Gas Index eased 1%, while the Stoxx 600 Europe Food and Beverage Index inclined 1.9%.The REITE, a European REIT index, rose 0.1%.On the national market indexes, Germany's DAX was up 0.2%, and the FTSE 100 in London gained 0.5%. The CAC 40 in Paris was up 0.2%, and Spain's IBEX 35 lifted 0.1%.Yields on benchmark 10-year German bonds were lower, near 3.12%.Front-month North Sea Brent crude-oil futures were down 2.1% at $84.08 a barrel.The Euro Stoxx 50 volatility index was up 3.2% at 18.64, 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.
^SXXP