Earnings, Central Bank Outlook Damp European Bourses Midday

07:49 AM EDT, 10/24/2025 (MT Newswires) -- European bourses tracked modestly lower midday Friday as traders weighed economic and earnings reports, and awaited a European Central Bank (ECB) rate decision slated for next Thursday.

Retail and tech stocks led gainers on continental trading floors, while food and property shares lagged.

Shares of Sanofi traded up more than 1% midday, after the French pharmaceutical giant reported Q3 earnings that topped expectations.

Investors also eyed Wall Street futures flashing green, and higher closes overnight on Asian exchanges.

In economic news, the Eurozone flash composite purchasing managers index (PMI), a combination of the continent's manufacturing and services sectors, rose to 52.2 in October from 51.2 in September, and striking further above the 50-mark that separates growth from contraction, reported S&P Global.

The strong PMI report may firm expectations for no rate cut at next week's ECB policy meeting.

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

The Stoxx Europe 600 Technology Index was up 0.4%, but the Stoxx 600 Banks Index lost 0.5%.

The Stoxx Europe 600 Oil and Gas Index was steady, while the Stoxx 600 Europe Food and Beverage Index lost 0.6%.

The REITE, a European REIT index, fell 1.3%, but the Stoxx Europe 600 Retail Index was up 0.6%.

On the national market indexes, Germany's DAX was down 0.1%, and the FTSE 100 in London was flat. The CAC 40 in Paris was off 0.6%, and Spain's IBEX 35 eased 0.1%.

Yields on benchmark 10-year German bonds were higher, near 2.61%.

Front-month North Sea Brent crude-oil futures were up 0.6% at $66.35 a barrel.

The Euro Stoxx 50 volatility index was up 0.5% at 17.19, 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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