US Elections, Middle East Tensions Pressure European Bourses Midday

06:40 AM EST, 11/03/2026 (MT Newswires) -- European bourses tracked moderately lower midday Tuesday as traders digested media reports of military strikes on Iranian positions in the Strait of Hormuz, and awaited the outcome of US elections. The pan-continental Stoxx Europe 600 Index was off 0.3% mid-session. Oil stocks led scant gains on continental trading floors, while property and tech shares lagged. Brent crude oil futures were up 1.3% to $106.16 a barrel in midday trades. Investors also eyed mixed Wall Street futures, but Asian exchanges largely closed lower overnight. In economic news, the European Central Bank could raise interest rates again if continental inflation remains stubborn, ECB Governing Council Member and Bulgarian National Bank Governor Dimitar Radev said on Tuesday, speaking to an Official Monetary and Financial Institutions forum. In the sectors, the Stoxx Europe 600 Technology Index fell 1.5%, and the Stoxx 600 Banks Index fell 0.4% in mid-session trading. The Stoxx Europe 600 Oil and Gas Index rose 0.1%, while the Stoxx 600 Europe Food and Beverage Index declined 0.3%. The REITE, a European REIT index, fell 0.5%. On the national market indexes, Germany's DAX was down 0.6%, and the FTSE 100 in London also lost 0.6%. The CAC 40 in Paris was down 0.1%, and Spain's IBEX 35 eased 0.5%. Yields on benchmark 10-year German bonds were higher, near 3.33%. 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.