07:51 AM EDT, 04/05/2024 (MT Newswires) -- European bourses tracked lower midday Friday as key oil prices topped $90 a barrel, triggering concerns of a more-stubborn inflation that would dull central bank appetites for rate cuts.

Bank and retail stocks led declines amid Middle East geopolitical tensions, while oil issues edged higher.

Investors also eyed Wall Street futures signaling green, but lower closes overnight on Asian exchanges, although China and Taiwan trading floors remained closed on holiday.

Seasonally adjusted retail sales in February decreased by 0.5% from January in the euro area, and by 0.4% in the broader European Union, reported Eurostat. On year in February, retail sales decreased by 0.7% the euro area and by 0.2% in the EU.

The pan-continental Stoxx Europe 600 Index was down 1.1% mid-session.

The Stoxx Europe 600 Technology Index was off 1.1%, and the Stoxx 600 Banks Index lost 1.6%.

The Stoxx Europe 600 Oil and Gas Index was up 0.2%, but the Stoxx 600 Europe Food and Beverage Index declined 0.5%.

The REITE, a European REIT index, fell 1%, and the Stoxx Europe 600 Insurance Index declined 1.9%.

On the national market indexes, Germany's DAX was down 1.5%, and the FTSE 100 in London was down 1%. The CAC 40 in Paris was off 0.5%, and Spain's IBEX 35 lost 1.6%.

Yields on benchmark 10-year German bonds were higher, near 2.37%.

Front-month North Sea Brent crude-oil futures were up 0.1% to $90.73 per barrel.

The Euro Stoxx 50 volatility index was up 19.2% to 16.32, 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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