European bourses tracked marginally lower midday Wednesday as traders weighed rising oil prices and interest rates, and ongoing hostilities in the Persian Gulf.

Tech stocks led gains on continental trading floors, after ASML (ASML) the giant Dutch maker of semiconductor-manufacturing equipment, reported record Q2 earnings and raised guidance.

Food and property shares lagged.

Yields on benchmark 10-year German bonds edged up near 3.11%, striking a fresh 15-year high.

Front-month North Sea Brent crude-oil futures were up 0.7% at $85.31 a barrel midday.

Investors also eyed Wall Street futures in the green, and higher closes overnight on Asian exchanges.

In economic news, seasonally adjusted industrial production decreased by 0.2% in May from April in the Eurozone, and by 0.1% in the broader European Union (EU), Eurostat reported. On the year, industrial output declined by 1.2% in the euro area in May, and by 0.3% in the EU.

The pan-continental Stoxx Europe 600 Index was off 0.1% mid-session.

The Stoxx Europe 600 Technology Index was up 0.9%, but the Stoxx 600 Banks Index lost 0.3%.

The Stoxx Europe 600 Oil and Gas Index eased 0.3%, while the Stoxx 600 Europe Food and Beverage Index declined 0.7%.

The REITE, a European REIT index, fell 0.5%.

On the national market indexes, Germany's DAX was down 0.8%, and the FTSE 100 in London lost 0.3%. The CAC 40 in Paris was down 0.3%, and Spain's IBEX 35 fell 0.8%.

The Euro Stoxx 50 volatility index was down 1.3% at 17.43, 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.