07:43 AM EDT, 10/31/2024 (MT Newswires) -- European bourses tracked moderately lower midday Thursday as traders noted underwhelming overnight earnings reports from Microsoft (MSFT) and Meta Platforms (META), and rising interest rates on benchmark bonds.

Bank stocks held ground, but retail, tech, property and food shares declined.

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

In economic news, the euro area consumer price index is expected to rise by 2% year over year in October, up from 1.7% in September, Eurostat reported.

The pan-continental Stoxx Europe 600 Index was off 0.8% mid-session.

The Stoxx Europe 600 Technology Index was off 1.1%, while the Stoxx 600 Banks Index gained 0.1%.

The Stoxx Europe 600 Oil and Gas Index was off 0.6%, and the Stoxx 600 Europe Food and Beverage Index declined 1.5%.

The REITE, a European REIT index, fell 1.6%, and the Stoxx Europe 600 Retail Index declined 2.8%.

On the national market indexes, Germany's DAX was down 0.5%, and the FTSE 100 in London was 0.8% lower. The CAC 40 in Paris was off 0.9%, and Spain's IBEX 35 lost 0.2%.

Yields on benchmark 10-year German bonds were higher, near 2.4%.

Front-month North Sea Brent crude-oil futures were up 0.6% at $72.59 per barrel.

The Euro Stoxx 50 volatility index was up 5% at 20.93, indicating modestly 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.

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