07:49 AM EDT, 04/17/2024 (MT Newswires) -- European bourses tracked moderately higher midday Wednesday as traders weighed the unfolding earnings season and a lull in Middle East tensions.

Adidas gained 8% Wednesday after the German athletic-wear maker raised its full-year guidance and reported a Q1 year-on-year profit boost.

In contrast, semiconductor-sector shares declined after Netherlands-based industry supplier ASML reported a sales miss. ASML shares were off 4.9% midday.

On the continent, bank and retail stocks led gainers, while tech issues lagged.

Investors also eyed Wall Street futures signaling green, but lower closes overnight on Asian exchanges.

The pan-continental Stoxx Europe 600 Index was up 0.6% mid-session.

The Stoxx Europe 600 Technology Index was off 1.2%, but the Stoxx 600 Banks Index gained 1.6%.

The Stoxx Europe 600 Oil and Gas Index was up 0.1%, and the Stoxx 600 Europe Food and Beverage Index inclined 0.9%.

The REITE, a European REIT index, rose 0.9%, and the Stoxx Europe 600 Retail Index inclined 1%.

On the national market indexes, Germany's DAX was up 0.6%, and the FTSE 100 in London was up 0.7%. The CAC 40 in Paris was up 1.3%, and Spain's IBEX 35 gained 1.3%.

Yields on benchmark 10-year German bonds were higher, near 2.49%.

Front-month North Sea Brent crude-oil futures were down 0.7% to $89.43 per barrel.

The Euro Stoxx 50 volatility index was down 8.8% to 17.91, 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.

http://www.mtnewswires.com
Copyright © 2024 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.