06:36 AM EST, 02/11/2026 (MT Newswires) -- European bourses tracked moderately lower midday Wednesday as traders moved into oil shares, but remained wary of tech issues.

Mounting Middle East tensions and a threat from Washington to seize Iranian oil tankers are undergirding crude prices.

Tech shares are pressured by concerns regarding huge AI-related capex outlays, but also AI-enabled disruption of the software and programming trades.

Food stocks also led gains on continental trading floors, while bank shares lagged.

In addition, investors eyed muted Wall Street futures, although higher closes overnight on Asian exchanges.

In other news, Europe needs "one large, deep and liquid capital market," with current arrangements "too fragmented" among various nations, European Commission President Ursula von der Leyen said, speaking to the European Parliament.

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

The Stoxx Europe 600 Technology Index was down 1.9%, and the Stoxx 600 Banks Index lost 0.8%.

The Stoxx Europe 600 Oil and Gas Index rose 2%, while the Stoxx 600 Europe Food and Beverage Index inclined 0.5%.

The REITE, a European REIT index, rose 0.4%, while the Stoxx Europe 600 Retail Index was down 0.2%.

On the national market indexes, Germany's DAX was down 0.3%, but the FTSE 100 in London gained 0.7%. The CAC 40 in Paris was down 0.3%, and Spain's IBEX 35 eased 0.2%.

Yields on benchmark 10-year German bonds were steady, near 2.80%.

Front-month North Sea Brent crude oil futures were up 1.5% at $69.85 a barrel.

The Euro Stoxx 50 volatility index was up 3.1% at 18.57, 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.