07:41 AM EDT, 08/01/2024 (MT Newswires) -- European bourses tracked moderately lower midday Thursday as traders weighed earnings reports, and easing by the UK central bank.

The Bank of England delivered its first interest rate cut in more than four years, cutting its key rate to 5% from 5.25%.

Property and retail stocks led gainers, while bank issues fell back.

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

The Eurozone manufacturing purchasing managers index (PMI) posted at 45.8 in July, unchanged from June, and still below the 50-marker that separates growth from contraction, reported S&P Global.

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

The Stoxx Europe 600 Technology Index was off 0.2%, and the Stoxx 600 Banks Index lost 2%.

The Stoxx Europe 600 Oil and Gas Index was up 0.5%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.3%.

The REITE, a European REIT index, rose 1%, and the Stoxx Europe 600 Insurance Index inclined 1.8%.

On the national market indexes, Germany's DAX was down 0.7%, but the FTSE 100 in London was up 0.2%. The CAC 40 in Paris was off 0.8%, and Spain's IBEX 35 lost 0.4%.

Yields on benchmark 10-year German bonds were lower, near 2.30%.

Front-month North Sea Brent crude-oil futures were up 0.9% to $81.41 per barrel.

The Euro Stoxx 50 volatility index was up 5.4% to 16.59, 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.