07:48 AM EDT, 10/01/2024 (MT Newswires) -- European bourses tracked moderately higher midday Tuesday after a report that euro area inflation declined below 2% on the year in September, boosting the outlook for easing by the European Central Bank.

Tech and property stocks gained, while oil and bank issues lagged.

Investors also eyed Wall Street futures signaling green, but choppy closes overnight on Asian exchanges in holiday-thinned trading.

The euro area consumer price index rose 1.8% on the year in September, cooling from a 2.2% gain logged in August, reported Eurostat.

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

The Stoxx Europe 600 Technology Index was up 1.3%, but the Stoxx 600 Banks Index lost 0.6%.

The Stoxx Europe 600 Oil and Gas Index was off 0.3%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.7%.

The REITE, a European REIT index, rose 0.9%, and the Stoxx Europe 600 Retail Index inclined 0.3%.

On the national market indexes, Germany's DAX was up 0.4%, and the FTSE 100 in London was up 0.5%. The CAC 40 in Paris was flat, and Spain's IBEX 35 lost 0.5%.

Yields on benchmark 10-year German bonds were lower, near 2.05%.

Front-month North Sea Brent crude-oil futures were down 0.6% to $71.27 per barrel.

The Euro Stoxx 50 volatility index was down 1.4% to 17.81, 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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