Tech, Oil Shares Lift European Bourses Midday
European bourses tracked moderately higher midday Wednesday as continental traders joined the global tech-sector rally and as oil shares tracked higher on prospects for tight crude markets going forward.In contrast, bank, food and property stocks lagged in midday trading.Investors also eyed Wall Street futures flashing green amid higher closes overnight on Asian exchanges, including fresh zeniths on equity indices in Seoul and Tokyo.In economic news, seasonally adjusted industrial production in the eurozone gained 0.2% month over month in March and rose 0.8% in the broader EU, Eurostat reported. Year over year, industrial output fell 2.1% in the euro area and by 1% in the EU.The pan-continental Stoxx Europe 600 Index was up 0.3% mid-session.The Stoxx Europe 600 Technology Index rose 2%, while the Stoxx 600 Banks Index lost 0.2%.The Stoxx Europe 600 Oil and Gas Index rose 0.9%, while the Stoxx 600 Europe Food and Beverage Index declined 0.7%.The REITE, a European REIT index, fell 0.7%.On the national market indexes, Germany's DAX was up 0.7%, and the FTSE 100 in London was steady. The CAC 40 in Paris was down 0.4%, and Spain's IBEX 35 eased 0.2%.Yields on benchmark 10-year German bonds were higher, near 3.1%.Front-month North Sea Brent crude-oil futures were up 0.1% at $107.85 a barrel.The Euro Stoxx 50 volatility index was down 3.9% at 22.43, 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.