07:42 AM EDT, 07/25/2025 (MT Newswires) -- European bourses tracked moderately lower midday Friday, as traders awaited a potential US-Europe trade deal and digested mixed continental earnings reports.

Property, food and retail stocks led broad market declines.

Puma shares slumped nearly 18% midday after the German sportswear maker lowered its full-year earnings guidance on soft sales and possible tariff-related headwinds. Puma executives said they looking to reposition the brand.

Investors also eyed limping Wall Street futures, and lower closes overnight on Asian exchanges.

The latest Survey of Professional Forecasters showed expectations for headline inflation in Europe of 2% in 2025, and 1.8% in 2026, reported the European Central Bank.

The pan-continental Stoxx Europe 600 Index was off 0.5% mid-session.

The Stoxx Europe 600 Technology Index was down 0.8%, and the Stoxx 600 Banks Index lost 0.3%.

The Stoxx Europe 600 Oil and Gas Index was off 0.2%, and the Stoxx 600 Europe Food and Beverage Index fell 0.7%.

The REITE, a European REIT index, fell 1.1%, while the Stoxx Europe 600 Retail Index was down 0.7%.

On the national market indexes, Germany's DAX was down 0.7%, and the FTSE 100 in London lost 0.4%. The CAC 40 in Paris was almost flat, and Spain's IBEX 35 eased 0.6%.

Yields on benchmark 10-year German bonds were higher, near 2.73%.

Front-month North Sea Brent crude-oil futures were up 0.1% at $69.44 a barrel.

The Euro Stoxx 50 volatility index was up 2.4% at 18.15, 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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