06:38 AM EST, 02/10/2026 (MT Newswires) -- European bourses tracked sideways midday Tuesday as traders weighed earnings results and mulled a European response to the ongoing Ukraine-Russia war.

Food and tech stocks led modest gains on continental trading floors, while oil and bank shares lagged.

BP shares declined 4% midday after the British petroleum giant posted quarterly earnings and paused a share buyback program, citing a need to strengthen the balance sheet.

Investors also eyed muted Wall Street futures, but higher closes overnight on Asian exchanges.

In other news, defense spending in the European Union could reach 700 billion euros per year over the next 10 years, a "massive boost," said European Defense Commissioner Andrius Kubilius.

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

The Stoxx Europe 600 Technology Index was up 0.2%, but the Stoxx 600 Banks Index lost 0.5%.

The Stoxx Europe 600 Oil and Gas Index eased 0.6%, while the Stoxx 600 Europe Food and Beverage Index inclined 0.4%.

The REITE, a European REIT index, declined 0.3%, while the Stoxx Europe 600 Retail Index was flat.

On the national market indexes, Germany's DAX was flat, and the FTSE 100 in London lost 0.2%. The CAC 40 in Paris was up 0.3%, and Spain's IBEX 35 lifted 0.1%.

Yields on benchmark 10-year German bonds were lower, near 2.83%.

Front-month North Sea Brent crude oil futures were up 0.3% at $69.21 a barrel.

The Euro Stoxx 50 volatility index was steady at 17.91, 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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