07:40 AM EDT, 05/11/2026 (MT Newswires) -- European bourses tracked modestly lower midday Monday as traders weighed higher crude prices and US President Donald Trump's rejection on Sunday of an Iranian peace plan response.

Bank and oil stocks led modest gains on continental trading floors, while property and food shares lagged.

Front-month North Sea Brent crude-oil futures were up 2.7% at $104.01 a barrel.

Investors also eyed muted Wall Street futures amid mixed closes overnight on Asian exchanges.

In economic news, the European Central Bank is evaluating the results and possible duration of the Middle East war and is keeping future rate hikes as an option on the table, Governing Council member and Austrian National Bank Governor Martin Kocher said, news outlet Neue Zuercher Zeitung reported.

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

The Stoxx Europe 600 Technology Index was up 0.1%, and the Stoxx 600 Banks Index gained 0.3%.

The Stoxx Europe 600 Oil and Gas Index rose 0.5%, while the Stoxx 600 Europe Food and Beverage Index declined 0.8%.

The REITE, a European REIT index, fell 0.5%.

On the national market indexes, Germany's DAX was down 0.2%, and the FTSE 100 in London gained 0.1%. The CAC 40 in Paris was down 1%, and Spain's IBEX 35 eased 0.3%.

Yields on benchmark 10-year German bonds were higher, near 3.03%.

The Euro Stoxx 50 volatility index was steady near 22.40, indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.