07:42 AM EDT, 06/06/2025 (MT Newswires) -- European bourses tracked sideways midday Friday after the European Central Bank cut its key policy rate on Thursday and as traders awaited the May jobs report from Washington.

Oil stocks gained, while food shares lagged in muted action.

Investors also eyed Wall Street futures signaling green, but uneven closes overnight on Asian exchanges.

In economic news, ECB Governing Council member Mario Centeno, governor of the Bank of Portugal, said the euro area inflation rate will touch 1% by 2026, pulled lower in part by the deflationary effects of US tariffs, ForexLive reported.

The ECB has an inflation target of 2%.

The pan-continental Stoxx Europe 600 Index was steady mid-session.

The Stoxx Europe 600 Technology Index was up 0.1%, while the Stoxx 600 Banks Index was flat.

The Stoxx Europe 600 Oil and Gas Index was 0.5% higher, while the Stoxx 600 Europe Food and Beverage Index was 0.2% lower.

The REITE, a European REIT index, was steady, while the Stoxx Europe 600 Retail Index edged 0.2% higher.

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

Yields on benchmark 10-year German bonds were lower, near 2.54%.

Front-month North Sea Brent crude-oil futures were stable near $65.32 per barrel.

The Euro Stoxx 50 volatility index was up 3% at 18.28, 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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