07:41 AM EDT, 07/24/2026 (MT Newswires) -- European bourses tracked moderately higher midday Friday as traders weighed earnings reports, easing oil prices and looked for values after recent tech-sector retreats.

Tech and bank stocks led gains on continental trading floors, while oil shares lagged.

SAP (SAP) shares rose 5.3% midday after the German software enterprise reported Q2 financial results and a large rise in its cloud-related orders backlog.

Front-month North Sea Brent crude-oil futures were down 3% at $97.63 a barrel, in midday action.

Investors also eyed Wall Street futures in the green, but lower closes overnight on Asian exchanges.

In economic news, the flash Eurozone composite purchasing managers index (PMI), a combination of the continent's manufacturing and service sectors, logged at 51.9 in July, up from 50.0 in June, and striking above the 50-mark that separates growth from contraction, reported S&P Global.

The pan-continental Stoxx Europe 600 Index was up 0.5% mid-session.

The Stoxx Europe 600 Technology Index was up 1.2%, and the Stoxx 600 Banks Index gained 1.2%.

The Stoxx Europe 600 Oil and Gas Index eased 1%, while the Stoxx 600 Europe Food and Beverage Index inclined 0.7%.

The REITE, a European REIT index, rose 0.3%.

On the national market indexes, Germany's DAX was up 0.8%, and the FTSE 100 in London gained 0.1%. The CAC 40 in Paris was up 0.4%, and Spain's IBEX 35 lifted 0.8%.

Yields on benchmark 10-year German bonds were steady, near 3.21%.

The Euro Stoxx 50 volatility index was down 3% at 19.12, 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.