07:38 AM EDT, 09/16/2024 (MT Newswires) -- European bourses tracked evenly midday Monday as traders awaited clarity regarding the Federal Reserve's long-awaited monetary policy-easing cycle.

The US central bank is expected on Wednesday to disclose the size of its first rate cut since March 2020, with the market consensus presently leaning toward a 50-basis point slice.

On the continent, retail stocks gained, while oil issues lagged.

Investors also eyed muted Wall Street futures, and modestly higher closes overnight on Asian exchanges in holiday-thinned trading.

European Central Bank (ECB) Governing Council member Peter Kazimir, the governor of Slovakia's central bank, posted on X (Twitter) that the ECB will "almost surely" wait for the December policy meeting before delivering another interest rate cut. The ECB is slated to next meet in October.

The pan-continental Stoxx Europe 600 Index was up 0.1% mid-session.

The Stoxx Europe 600 Technology Index was off 0.3%, and the Stoxx 600 Banks Index lost 0.2%.

The Stoxx Europe 600 Oil and Gas Index was off 0.5%, and the Stoxx 600 Europe Food and Beverage Index declined 0.1%.

The REITE, a European REIT index, fell 0.1%, but the Stoxx Europe 600 Retail Index inclined 0.6%.

On the national market indexes, Germany's DAX was down 0.2%, and the FTSE 100 in London was flat. The CAC 40 in Paris was up 0.1%, and Spain's IBEX 35 gained 0.2%.

Yields on benchmark 10-year German bonds were even, near 2.14%.

Front-month North Sea Brent crude oil futures were up 0.5% to $71.98 per barrel.

The Euro Stoxx 50 volatility index was up 2.7% to 16.49, 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.