07:41 AM EDT, 07/01/2025 (MT Newswires) -- European bourses tracked modestly lower midday Tuesday as investors awaited clarity on US trade relations with Europe and other major partners, as a Trump Administration July 9 deadline for trade agreements draws closer.

Retail and food stocks gained on continental trading floors, while bank issues lagged.

Investors also eyed Wall Street futures in the red, and choppy closes overnight on Asian exchanges.

In economic news, Bank of England Governor Andrew Bailey told CNBC that "the path of interest rates will continue to be gradually downwards," as the central bank battles inflation but tries to boost economic expansion.

The pan-continental Stoxx Europe 600 Index was off 0.3% mid-session.

The Stoxx Europe 600 Technology Index was down 0.4%, and the Stoxx 600 Banks Index lost 1%.

The Stoxx Europe 600 Oil and Gas Index was off 0.2%, but the Stoxx 600 Europe Food and Beverage Index rose 0.2%

The REITE, a European REIT index, was steady, while the Stoxx Europe 600 Retail Index rose 0.6%.

On the national market indexes, Germany's DAX was down 0.4%, and the FTSE 100 in London lost 0.3%. The CAC 40 in Paris was off 0.3%, but Spain's IBEX 35 gained 0.1%.

Yields on benchmark 10-year German bonds were lower, near 2.54%.

Front-month North Sea Brent crude-oil futures were up 0.4% at $76.75 a barrel.

The Euro Stoxx 50 volatility index was down 0.5% to 17.58, 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.