07:56 AM EDT, 03/19/2024 (MT Newswires) -- European bourses tracked modestly lower midday Tuesday as traders weighed the start of a two-day US Federal Reserve policy meeting, and awaited the central bank's policy statement, slated for Wednesday.

Bank and oil stocks gained, while tech issues lagged.

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

The ZEW Economic Sentiment Index for the euro area struck 33.5 in February, up from 25.0 in February, reported the Centre for European Economic Research (ZEW).

The pan-continental Stoxx Europe 600 Index was off 0.2% mid-session.

The Stoxx Europe 600 Technology Index was off 0.7%, but the Stoxx 600 Banks Index gained 0.6%.

The Stoxx Europe 600 Oil and Gas Index was up 0.6%, but the Stoxx 600 Europe Food and Beverage Index declined 0.5%.

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

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

Yields on benchmark 10-year German bonds were steady, near 2.46%.

Front-month North Sea Brent crude-oil futures were down 0.1% to $86.83 per barrel.

The Euro Stoxx 50 volatility index was up 0.5% to 13.51, 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.

http://www.mtnewswires.com
Copyright © 2024 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.