European bourses tracked moderately lower midday Monday and oil prices again edged higher after unverified reports from Iranian news services claimed two missiles struck a US warship in the Strait of Hormuz.
Petroleum stocks led gains on continental trading floors while bank, food and property shares lagged.
Front-month North Sea Brent crude-oil futures were up 3.5%, at $111.91 a barrel in midday trades.
Investors also eyed muted Wall Street futures amid higher closes overnight on Asian exchanges, led by a 4.6% gain on Taiwan's TWSE Index, while Seoul's KOSPI Index rose 5.1%.
In economic news, the Eurozone manufacturing purchasing managers index logged at 52.2 in April, up from 51.6 in March, surpassing the 50-mark that separates growth from contraction, S&P Global reported.
The pan-continental Stoxx Europe 600 Index was off 0.5% mid-session.
The Stoxx Europe 600 Technology Index was down 0.2%, and the Stoxx 600 Banks Index lost 1.2%.
The Stoxx Europe 600 Oil and Gas Index gained 0.2%, while the Stoxx 600 Europe Food and Beverage Index declined 0.7%.
The REITE, a European REIT index, fell 0.7%.
On the national market indexes, Germany's DAX was steady, and the FTSE 100 in London lost 0.1%. The CAC 40 in Paris was down 1%, and Spain's IBEX 35 eased 1.5%.
Yields on benchmark 10-year German bonds were higher, near 3.07%.
The Euro Stoxx 50 volatility index was up 4.8% at 23.71, 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.