07:45 AM EDT, 07/24/2024 (MT Newswires) -- European bourses tracked moderately lower midday Wednesday after a weak sales report from a luxury retailer, and a soft Eurozone purchasing manager's index bulletin.

Oil stocks bucked the trend to move higher, while property and retail issues lagged.

Investors also eyed Wall Street futures signaling red, and lower closes overnight on Asian exchanges.

Shares in LVMH Moet Hennessy Louis Vuitton fell 4.1% midday after the French luxury-goods giant reported quarterly sales and earnings below consensus expectations.

In economic news, the flash Eurozone composite purchasing managers index, a combination of the manufacturing and service sectors, posted at 50.1 in July, down from 50.9 in June, but still modestly above the 50-marker that separates growth from contraction, reported S&P Global.

The pan-continental Stoxx Europe 600 Index was off 0.4% mid-session.

The Stoxx Europe 600 Technology Index was off 0.9%, and the Stoxx 600 Banks Index lost 0.2%.

The Stoxx Europe 600 Oil and Gas Index was up 0.4%, but the Stoxx 600 Europe Food and Beverage Index declined 0.1%.

The REITE, a European REIT index, fell 0.5%, and the Stoxx Europe 600 Retail Index also declined 0.4%.

On the national market indexes, Germany's DAX was down 0.6%, and the FTSE 100 in London was off 0.1%. The CAC 40 in Paris was off 0.9%, and Spain's IBEX 35 was steady.

Yields on benchmark 10-year German bonds were lower, near 2.43%.

Front-month North Sea Brent crude-oil futures were up 0.9% to $81.72 per barrel.

The Euro Stoxx 50 volatility index was up 4.4% to 15.45, 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.