06:45 AM EST, 03/05/2024 (MT Newswires) -- European bourses tracked moderately lower midday Tuesday as traders looked ahead to the Thursday policy meeting of the European Central Bank and weighed valuations in technology-sector shares.

Property stocks edged higher, while tech issues lagged.

Investors also eyed Wall Street futures signaling red and largely lower closes overnight on Asian exchanges.

The Eurozone composite purchasing managers index, a gauge of the services and the manufacturing sectors, posted at 49.2 in February, up from 47.9 in January, but still striking below the 50-marker that separates growth from contraction, S&P Global reported.

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

The Stoxx Europe 600 Technology Index was off 0.6%, and the Stoxx 600 Banks Index lost 0.2%.

The Stoxx Europe 600 Oil and Gas Index was flat, but the Stoxx 600 Europe Food and Beverage Index declined 0.3%.

The REITE, a European REIT index, rose 0.1%, but the Stoxx Europe 600 Insurance Index declined 0.4%.

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 steady, and Spain's IBEX 35 lost 0.2%.

Yields on benchmark 10-year German bonds were lower, near 2.36%.

Front-month North Sea Brent crude oil futures were down 0.1% to $82.70 per barrel.

The Euro Stoxx 50 volatility index was up 1.4% to 13.91, 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.