Middle East Diplomacy, US Elections Nudge European Bourses Up

06:35 AM EST, 11/02/2026 (MT Newswires) -- European bourses tracked modestly higher midday Monday as traders weighed lower oil prices and the latest Middle East diplomatic efforts to forestall hostilities. Investors also await US national election results, with voting slated to start Tuesday. The pan-continental Stoxx Europe 600 Index was up 0.2% mid-session. Food and property stocks led gains on continental trading floors, while oil shares lagged. Brent crude oil futures were down 4.2% at $108.64 a barrel in midday trading. Investors also eyed Wall Street futures flashing green, but mixed closes overnight on Asian exchanges. In economic news, the Eurozone final manufacturing purchasing managers index logged at 52.7 in October, down from 52.9 in September, but still striking above the 50-mark that separates growth from contraction, reported S&P Global. In the sectors, the Stoxx Europe 600 Technology Index was up 0.3%, and the Stoxx 600 Banks Index gained 0.5%. The Stoxx Europe 600 Oil and Gas Index eased 0.9%, while the Stoxx 600 Europe Food and Beverage Index rose 0.8%. The REITE, a European REIT index, rose 0.6%. On the national market indexes, Germany's DAX was up 0.2%, and the FTSE 100 in London was flat. The CAC 40 in Paris was up 0.4%, and Spain's IBEX 35 jumped 1.1%. Yields on benchmark 10-year German bonds were lower, near 3.30%. 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.