European Bourses Edge Higher Midday Ahead of Fed Minutes

European bourses tracked unevenly higher midday Wednesday as traders awaited the release of minutes from the US Federal Reserve's May policy meeting, and clues to the central bank's outlook. Oil issues gained, while tech issues slipped.

Market observers also weighed a wobbling pre-bell New York futures market, but higher closes overnight on Asian exchanges.

Eurozone headline inflation is "far higher" than what the European Central Bank (ECB) wants, ECB Executive Board Member Philip Lane said. The Ukraine war presents challenges, he added.

The pan-continental Stoxx Europe 600 Index was up 0.03% mid-session.

The Stoxx Europe 600 Technology Index fell 1.1%, but the Stoxx 600 Banks Index rose 0.1%.

The Stoxx Europe Oil and Gas Index rose 1.5%, and the Stoxx Europe Food and Beverage Index rose 0.3%.

The REITE, a European REIT index, was flat, while the Stoxx Europe 600 Insurance Index gained 0.3%.

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

Yields on benchmark 10-year German bonds were lower, near 0.93%.

Front-month Brent crude oil futures were 1.1% higher at $114.80 per barrel.

The Euro Stoxx 50 volatility index fell 0.2% to 28.05, still indicating above-average volatility for European stock markets in the next 30 days, although lower than early March when the index tipped at 50. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.