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Middle East, Oil Outlooks Lift European Bourses Midday

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European bourses tracked moderately higher midday Tuesday after US President Donald Trump late Monday declared Persian Gulf peace negotiations were again on the table and as oil prices softened.

Front-month North Sea Brent crude-oil futures were down 1.1% at $110.85 a barrel, in midday activity.

Tech, food and property stocks led gains on continental trading floors.

Shares in Lagercrantz were up 6.7% midday after the company reported fiscal Q4 earnings above expectations.

Investors also eyed Wall Street futures flashing red amid choppy closes overnight on Asian exchanges.

In economic news, the Europe must accelerate clean electrification to win "true independence" from the vagaries of imported oil and gas, European Commission President Ursula von der Leyen said, addressing the EU's Clean Tech Conference.

The pan-continental Stoxx Europe 600 Index was up 0.8% mid-session.

The Stoxx Europe 600 Technology Index was 1.2% higher, and the Stoxx 600 Banks Index gained 0.7%.

The Stoxx Europe 600 Oil and Gas Index advanced 03%, while the Stoxx 600 Europe Food and Beverage Index rose 1.3%.

The REITE, a European REIT index, was 1.1% higher.

On the national market indexes, Germany's DAX was up 1.4%, and the FTSE 100 in London gained 0.5%. The CAC 40 in Paris was up 0.7%, and Spain's IBEX 35 gained 0.3%.

Yields on benchmark 10-year German bonds were higher, near 3.17%.

The Euro Stoxx 50 volatility index was down 2.9% at 22.57, 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.

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