European bourses tracked moderately lower midday Friday, as traders joined Asian peers in eschewing tech issues, while oil stocks lost ground on concerns global demand will be sluggish in 2025.

Food and beverage stocks bucked trends to edge higher.

Investors also eyed Wall Street futures signaling green, but solidly lower closes overnight on Asian exchanges.

Europeans expect a 2.6% rate of inflation for the next 12 months, down from the 2.8% rate expected in December, reported the European Central Bank, citing its monthly survey.

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

The Stoxx Europe 600 Technology Index was off 1.2%, and the Stoxx 600 Banks Index lost 0.3%.

The Stoxx Europe 600 Oil and Gas Index was off 0.9%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.2%.

The REITE, a European REIT index, fell 0.5%, and the Stoxx Europe 600 Retail Index declined 0.3%.

On the national market indexes, Germany’s DAX was down 0.3%, and the FTSE 100 in London was up 0.3%. 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 lower, near 2.38%.

Front-month North Sea Brent crude-oil futures were down 1.4% to $72.58 per barrel.

The Euro Stoxx 50 volatility index was up 4.9% to 18.90, but still 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.