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US Inflation Report, Oil Prices Limit European Bourses Midday

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European bourses tracked evenly midday Friday, as traders weighed Thursday's tepid US producer price index (PPI) report against global crude prices that gained marginally by midday.

Tech stocks led gains on continental trading floors, while food shares lagged.

Front-month North Sea Brent crude-oil futures were up 0.2% at $87.23 a barrel.

Investors also eyed Wall Street futures modestly in the green, and mixed closes overnight on Asian exchanges, although Seoul and Tokyo gained ground on strength in tech shares.

In economic news, the Eurozone recorded a goods trade surplus of 8.6 billion euros ($9.94 billion) in June, up from 4.8 billion euros a year ago, and a swing from a 9 billion euro deficit in May, reported Eurostat.

The pan-continental Stoxx Europe 600 Index was steady mid-session.

The Stoxx Europe 600 Technology Index was up 1.6%, but the Stoxx 600 Banks Index was flat.

The Stoxx Europe 600 Oil and Gas Index rose 0.1%, while the Stoxx 600 Europe Food and Beverage Index declined 0.5%.

The REITE, a European REIT index, lost 0.1%.

On the national market indexes, Germany's DAX was up 0.8%, and the FTSE 100 in London was steady. The CAC 40 in Paris was up 0.1%, and Spain's IBEX 35 rose 0.2%.

Yields on benchmark 10-year German bonds were higher, near 3.18%.

The Euro Stoxx 50 volatility index was down 2.6% at 14.98, 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.

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