06:47 AM EST, 02/02/2026 (MT Newswires) -- European bourses tracked modestly higher midday Monday as traders shrugged off the unfolding precious-metals debacle, and weighed media reports of a possible de-escalation of Tehran-Washington tensions.

Crude prices declined, while broad equity indices firmed in Europe.

Food and retail stocks led gains on continental trading floors, but oil and tech shares lagged.

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

In economic news, the Eurozone manufacturing purchasing manager index (PMI) logged at 49.5 in January, up from 48.8 in December, but still modestly below the 50-mark that separates growth from contraction, report S&P Global.

The pan-continental Stoxx Europe 600 Index was up 0.3% mid-session.

The Stoxx Europe 600 Technology Index was down 1.2%, and the Stoxx 600 Banks Index gained 0.3%.

The Stoxx Europe 600 Oil and Gas Index eased 1.2%, while the Stoxx 600 Europe Food and Beverage Index inclined 1.1%.

The REITE, a European REIT index, rose 0.3%, while the Stoxx Europe 600 Retail Index was up 0.9%.

On the national market indexes, Germany's DAX was up 0.6%, and the FTSE 100 in London gained 0.3%. The CAC 40 in Paris was up 0.3%, and Spain's IBEX 35 lifted 0.5%.

Yields on benchmark 10-year German bonds were higher, near 2.85%.

Front-month North Sea Brent crude-oil futures were down 4.8% at $65.97 a barrel.

The Euro Stoxx 50 volatility index was down 0.1% at 19.98, indicating marginally 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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