07:37 AM EDT, 05/06/2025 (MT Newswires) -- European bourses tracked moderately lower midday Tuesday, after German conservative leader Friedrich Merz failed to secure enough parliamentary votes to become chancellor on Tuesday.

The German DAX equity index fell 0.8% midday, partially recovering from early morning losses.

Property, food and oil stocks edged higher on continental exchanges, while bank and tech issued faltered.

Investors also eyed Wall Street futures signaling red, but higher closes overnight on Hong Kong and mainland China exchanges.

In economic news, the composite purchasing managers index (PMI), a combination of the continent's manufacturing and service sectors, logged at 50.4 in April, down from 50.9 in March, but still striking above the 50-mark that separates growth from contraction, reported S&P Global.

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

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

The Stoxx Europe 600 Oil and Gas Index was up 0.3%, ans the Stoxx 600 Europe Food and Beverage Index inclined 0.5%.

The REITE, a European REIT index, rose 0.4%, and the Stoxx Europe 600 Retail Index inclined 0.1%.

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

Yields on benchmark 10-year German bonds were higher, near 2.53%.

Front-month North Sea Brent crude-oil futures were up 2.1% to $61.49 per barrel.

The Euro Stoxx 50 volatility index was up 4.7% to 21.23, indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.