Persian Gulf Turmoil, Higher Bond Yields Damp European Bourses Midday

European bourses tracked lower midday Tuesday as traders weighed fresh hostilities in the Persian Gulf, higher crude prices, and rising bond yields. Oil stocks led gains on continental trading floors, while bank, tech and property shares lagged. Front-month North Sea Brent crude-oil futures were up 3.5% at $86.19 a barrel in midday action. Yields on benchmark 10-year German bonds were higher, near 3.09% and testing 15-year highs. Investors also eyed mixed Wall Street futures, but higher closes overnight on Asian exchanges on a tech-sector recovery, and following strong June international trade reports from Beijing. In economic news, the UK's main problem is economic growth, Bank of England (BoE) Governor Andrew Bailey testified to the Treasury Select Committee of the Parliament. The renewed Persian Gulf hostilities could exacerbate inflation and financial instabilities, added Bailey. The pan-continental Stoxx Europe 600 Index was off 0.4% mid-session. The Stoxx Europe 600 Technology Index was down 1.1%, and the Stoxx 600 Banks Index lost 0.8%. The Stoxx Europe 600 Oil and Gas Index rose 1.1%, while the Stoxx 600 Europe Food and Beverage Index declined 0.5%. The REITE, a.