06:41 AM EST, 02/05/2025 (MT Newswires) -- European bourses tracked mixed and sideways midday Wednesday, as traders weighed earnings reports, softer interest rates, and evolving trade and geopolitical tensions.

Property and oil stocks gained, while retail and tech issues lagged.

Spanish lender Banco Santander traded up 7% midsession in Madrid, after reporting an attributable profit in 2024 up 14% on year.

Yields on 10-year German sovereign bonds fell under 2.35%, in morning trades.

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

The S&P Global composite purchasing managers index (PMI), a combination of the continents' manufacturing and service sectors, rose to 50.2 in January from 49.6 in December, and striking above the 50-marker that separates growth from contraction, reported S&P Global.

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

The Stoxx Europe 600 Technology Index was off 0.5%, but the Stoxx 600 Banks Index gained 0.3%.

The Stoxx Europe 600 Oil and Gas Index was up 0.5%, but the Stoxx 600 Europe Food and Beverage Index declined 0.5%.

The REITE, a European REIT index, rose 0.7%, but the Stoxx Europe 600 Retail Index declined 0.6%.

On the national market indexes, Germany's DAX was down 0.1%, and the FTSE 100 in London was up 0.1%. The CAC 40 in Paris was off 0.2%, and Spain's IBEX 35 gained 1%.

Yields on benchmark 10-year German bonds were lower, near 2.34%.

Front-month North Sea Brent crude-oil futures were down 0.8% to $75.58 per barrel.

The Euro Stoxx 50 volatility index was up 1.2% to 16.97, but 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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