07:38 AM EDT, 07/01/2024 (MT Newswires) -- European bourses tracked moderately higher midday Monday as traders digested French election results, pointing to a stronger National Rally party but possibly without a majority in the nation's legislature.

The CAC 40 index in Paris was up 1.5% midday.

On the continent, bank, property and retail stocks led gainers, while tech shares lagged.

Investors also eyed Wall Street futures modestly signaling green, and higher closes overnight on Asian exchanges.

The Eurozone manufacturing purchasing managers index declined to 45.8 in June from 47.3 in May, falling further below the 50-marker that separates growth from contraction, S&P Global reported.

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

The Stoxx Europe 600 Technology Index was off 0.4%, while the Stoxx 600 Banks Index gained 2%.

The Stoxx Europe 600 Oil and Gas Index was up 0.9%, while the Stoxx 600 Europe Food and Beverage Index edged 0.2% higher.

The REITE, a European REIT index, rose 1.4%, and the Stoxx Europe 600 Retail Index was up 1.1%.

On the national market indexes, Germany's DAX was up 0.3%, and the FTSE 100 in London was 0.4% higher. Spain's IBEX 35 rose 1%.

Yields on benchmark 10-year German bonds were higher, near 2.57%.

Front-month North Sea Brent crude oil futures were up 0.7% at $85.66 per barrel.

The Euro Stoxx 50 volatility index fell to 18.30, 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.