07:34 AM EDT, 04/11/2024 (MT Newswires) -- European bourses tracked moderately lower midday Thursday as traders weighed rising bond yields and awaited the pending policy announcement from the European Central Bank.

Food and oil stocks gained, while bank and tech issues lagged.

Investors also eyed Wall Street futures signaling red, and lower closes overnight on Asian exchanges after inflation reports from Beijing pointed to a still-soggy economy.

The ECB's governing council will disclose its rate decision at 8:15 am ET, and President Christine Lagarde will hold a press conference 30 minutes later.

The pan-continental Stoxx Europe 600 Index was off 0.4% mid-session.

The Stoxx Europe 600 Technology Index was off 0.7%, and the Stoxx 600 Banks Index lost 1.5%.

The Stoxx Europe 600 Oil and Gas Index was up 0.9%, and the Stoxx 600 Europe Food and Beverage Index inclined 0.2%.

The REITE, a European REIT index, fell 0.1%, and the Stoxx Europe 600 Retail Index also declined 0.1%.

On the national market indexes, Germany's DAX was down 0.6%, and the FTSE 100 in London was down 0.2%. The CAC 40 in Paris was off 0.2%, and Spain's IBEX 35 lost 0.7%.

Yields on benchmark 10-year German bonds were higher, near 2.45%.

Front-month North Sea Brent crude-oil futures were down 0.4% to $90.11 per barrel.

The Euro Stoxx 50 volatility index was up 5.9% to 16.92, 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.