07:53 AM EDT, 09/25/2025 (MT Newswires) -- European bourses tracked moderately lower midday Thursday after the bloom left the global tech rally, and as Ukraine-Russian tensions mounted.

Retail stocks led gainers, while bank issues lagged in continental trading.

Investors also viewed soft Wall Street futures, and choppy closes overnight on Asian exchanges.

In economic news, Swiss National Bank (SNB) Governing Board Chairman Martin Schlegel said US tariffs challenge the Swiss economy. The central bank held its key interest rate unchanged at 0%, after a policy session.

In other news, Ukrainian President Volodymyr Zelensky told "The Axios Show" that if Russia won't end the war, Kremlin officials should learn the location of nearby bomb shelters.

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

The Stoxx Europe 600 Technology Index was down 0.3%, and the Stoxx 600 Banks Index lost 0.6%.

The Stoxx Europe 600 Oil and Gas Index was off 0.4%, but the Stoxx 600 Europe Food and Beverage Index rose 0.3%.

The REITE, a European REIT index, fell 0.1%, while the Stoxx Europe 600 Retail Index was up 0.9%.

On the national market indexes, Germany's DAX was down 1%, and the FTSE 100 in London lost 0.4%. The CAC 40 in Paris was off 0.7%, and Spain's IBEX 35 eased 0.2%.

Yields on benchmark 10-year German bonds were lower, near 2.76%.

Front-month North Sea Brent crude-oil futures were down 0.3% at $69.08 a barrel.

The Euro Stoxx 50 volatility index was up 1.2% to 16.99, 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.