European bourses tracked moderately higher midday Friday, buoyed by energy sectors following media reports of Iran's new plans to attack Israel via Iraqi bases. Bank and retail stocks led the market gains as traders seized the opportunity after a weak October for European equity values. Investors also monitored Wall Street futures showing potential gains, despite mostly lower closes overnight on Asian exchanges.
Switzerland's consumer price index (CPI) recorded a 0.6% increase year-on-year in October but fell by 0.1% month-on-month, as reported by the Federal Statistical Office. The nation's core CPI, which excludes certain food and fuel items, rose by 0.8% year-on-year and saw a month-on-month increase of 0.1%.
The pan-continental Stoxx Europe 600 Index rose by 0.8% mid-session, with the Technology Index also climbing by 0.8%. The Banks Index reported a 1.1% gain, while the Oil and Gas Index saw an increase of 1.2%. The Food and Beverage Index inclined by 0.3%. Notably, the REITE, a European REIT index, grew by 0.3%, and the Retail Index came up by 0.8%.
On national market indexes, Germany's DAX witnessed a gain of 0.6%, while the FTSE 100 in London increased by 0.8%. The CAC 40 in Paris rose by 0.7%, and Spain's IBEX 35 gained 0.9%. Yields on benchmark 10-year German bonds increased, nearing 2.40%. Front-month North Sea Brent crude-oil futures went up by 1.8% to $74.13 per barrel.
The Euro Stoxx 50 volatility index decreased by 2.3% to 21.23, yet still indicates above-average volatility for European stock markets over the next 30 days, which is a negative signal. A reading above 20 suggests choppier markets ahead, while below 20 indicates calmer trading environments..