06:42 AM EST, 01/24/2025 (MT Newswires) -- European bourses tracked moderately higher midday Friday, after US President Donald Trump's comments to the World Economic Forum on Thursday mentioned deregulation, and sourcing production in the US, more than tariffs.

Tech and retail stocks led gainers, while oil issues lagged.

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

In economic news, the Eurozone's composite purchasing managers index (PMI), a combination of the region's manufacturing and services sectors, rose to 50.2 in January, up from 49.6 in December and striking above the 50-marker that separates growth from contraction, reported S&P Global.

The Eurozone services PMI logged at 51.4 in January, down from 51.6 in December, while the manufacturing PMI rose to 46.1, up from 45.1.

The pan-continental Stoxx Europe 600 Index was up 0.5% mid-session.

The Stoxx Europe 600 Technology Index was up 0.9%, and the Stoxx 600 Banks Index gained 0.1%.

The Stoxx Europe 600 Oil and Gas Index was off 0.5%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.4%.

The REITE, a European REIT index, rose 0.3%, and the Stoxx Europe 600 Retail Index inclined 0.6%.

On the national market indexes, Germany's DAX was up 0.3%, and the FTSE 100 in London was down 0.4%. The CAC 40 in Paris was up 1%, and Spain's IBEX 35 lost 0.2%.

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

Front-month North Sea Brent crude-oil futures were up 0.6% to $78.73 per barrel.

The Euro Stoxx 50 volatility index was down 0.1% to 14.96, 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.