07:38 AM EDT, 03/25/2024 (MT Newswires) -- European bourses tracked moderately lower midday Monday as Wall Street futures flashed red and Asian exchanges traded south overnight, with tech-sector declines setting tone.

Oil stocks gained, while retail and tech issues lagged. Yields on benchmark sovereign bonds inched higher.

European inflation rates are falling rapidly and approaching the European Central Bank's 2% annual inflation target, ECB board member Fabio Panetta said at a Rome event, reported Reuters.

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

The Stoxx Europe 600 Technology Index was off 0.4%, and the Stoxx 600 Banks Index was flat.

The Stoxx Europe 600 Oil and Gas Index was up 0.4%, but the Stoxx 600 Europe Food and Beverage Index declined 0.1%.

The REITE, a European REIT index, fell 0.3%, and the Stoxx Europe 600 Retail Index declined 0.8%.

On the national market indexes, Germany's DAX was off 0.1%, and the FTSE 100 in London was down 0.4%. The CAC 40 in Paris was off 0.5%, and Spain's IBEX 35 was 0.1% lower.

Yields on benchmark 10-year German bonds were higher, near 2.35%.

Front-month North Sea Brent crude-oil futures were up 0.5% to $85.21 per barrel.

The Euro Stoxx 50 volatility index was up 3.3% to 12.83, 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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