08:05 AM EDT, 10/15/2024 (MT Newswires) -- European bourses tracked modestly lower midday Tuesday as traders mulled softening commodities prices, and an uncertain outlook for China's economy.

Key petroleum prices are down 4% midday on declining prospects for an Israeli strike on Iranian facilities, and after Beijing reported soft international trade figures for September, underlining concerns that China's huge economy is struggling.

Food and property stocks edged higher, while oil issues sagged.

Investors also eyed flat Wall Street futures, and choppy closes overnight on Asian exchanges, with Hong Kong and Shanghai tumbling after the tempered trade release from Beijing.

In economic news, industrial production in the Eurozone rose by 1.8% in August from July, and by 1.3% in the broader European Union, reported Eurostat. Industrial output in the Eurozone rose by 0.1% and by 0.2% in the EU from a year earlier.

The pan-continental Stoxx Europe 600 Index was off 0.1% mid-session.

The Stoxx Europe 600 Technology Index was off 0.3%, and the Stoxx 600 Banks Index lost 0.3%.

The Stoxx Europe 600 Oil and Gas Index was off 3.1%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.2%.

The REITE, a European REIT index, rose 0.3%, and the Stoxx Europe 600 Retail Index inclined 0.2%.

On the national market indexes, Germany's DAX was up 0.2%, and the resource-heavy FTSE 100 in London was up 0.5%. The CAC 40 in Paris was off 0.9%, and Spain's IBEX 35 gained 0.3%.

Yields on benchmark 10-year German bonds were lower, near 2.246%.

Front-month North Sea Brent crude-oil futures were down 3.7% to $74.59 per barrel.

The Euro Stoxx 50 volatility index was up 0.8% to 17.83, still 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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