07:49 AM EDT, 06/27/2024 (MT Newswires) -- European bourses tracked moderately lower midday Thursday as traders awaited the French national elections and mulled a soft profit report from H&M, the Swedish clothing company.

Food and retail stocks led decliners, while oil shares gained.

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

H&M Hennes & Mauritz shares were down 12.7% midday after the company missed market consensus on quarterly earnings and issued a tepid forecast.

In economic news, the Economic Sentiment Indicator in June remained largely unchanged from May in both the euro area and the broader European Union, the Eurostat reported.

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

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

The Stoxx Europe 600 Oil and Gas Index was 0.4% higher, while the Stoxx 600 Europe Food and Beverage Index declined 0.9%.

The REITE, a European REIT index, was down 0.3% and the Stoxx Europe 600 Retail Index declined 1.7%.

On the national market indexes, Germany's DAX was up 0.2%, and the FTSE 100 in London was down 0.3%. The CAC 40 in Paris was off 0.6%, and Spain's IBEX 35 lost 0.5%.

Yields on benchmark 10-year German bonds were higher, near 2.46%.

Front-month North Sea Brent crude oil futures were up 0.4% at $84.79 per barrel.

The Euro Stoxx 50 volatility index was up 2.5% at 19.46, indicating marginally below-average volatility for European stock markets in the next 30 days, a mildly positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.