07:38 AM EDT, 04/25/2024 (MT Newswires) -- European bourses tracked moderately lower midday Thursday as traders joined global peers in backing away from tech issues after US-based social-media colossus Meta Platforms (META) issued a weak outlook late Wednesday.

Bank and property stocks edged higher, while food and beverage issues joined the tech sector on the downside.

Bucking trends, London's FTSE was boosted by shares of miner Anglo American, which bolted upwards after a buyout offer from Australia-based BHP Group.

Investors eyed Wall Street futures signaling red, and largely lower closes overnight on Asian exchanges.

The European Union's economic model is "no longer viable" and the continent risks "dropping behind" other major economies, French President Emmanuel Macron said Thursday in a speech at Sorbonne University. The EU has "too much regulation, not enough investment, we're too open and we don't defend ourselves" against unfair trade practices.

The pan-continental Stoxx Europe 600 Index was off 0.4% mid-session.

The Stoxx Europe 600 Technology Index was off 1%, but the Stoxx 600 Banks Index gained 0.4%.

The Stoxx Europe 600 Oil and Gas Index was up 0.2%, but the Stoxx 600 Europe Food and Beverage Index declined 1.5%.

The REITE, a European REIT index, rose 0.2%, but the Stoxx Europe 600 Retail Index declined 0.5%.

On the national market indexes, Germany's DAX was down 0.8%, and the FTSE 100 in London was up 0.6%. The CAC 40 in Paris was off 1%, and Spain's IBEX 35 gained 0.1%.

Yields on benchmark 10-year German bonds were lower, near 2.58%.

Front-month North Sea Brent crude oil futures were up 0.2% to $88.16 per barrel.

The Euro Stoxx 50 volatility index was up 3.3% to 16.14, 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.

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