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Europe midday: Stocks slip heading into the weekend
(Sharecast News) - European stock markets were lower as investors braced for the likely start of Israel's ground invasion in Gaza, prompting traders to take some risk off the table going into the weekend. The Stoxx Europe 600 index was down by 0.83% as of 1300 BST, alongside similar falls for the remainder of the region's main bourses.
Front-dated Brent crude oil futures meanwhile were climbing 3.65% to $89.65 a barrel on the ICE.
Gold was also being bid higher and was last fetching $1,912.30/oz. on COMEX.
Worth noting, multiple observers believed that Tel Aviv's ability to minimise - if not able to avoid - civilian casualties in Gaza would be key to the success of Israeli operations.
Eurozone industrial production was reported as up by 0.6% month-on-month in August (consensus: 0.1%).
In annual terms however output shrank by 5.1% (consensus: -3.5%).
Shares of carmaker Porsche were dipping by 0.5% even after reporting a 10% increase in global deliveries across the first three quarters.
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