07:19 AM EST, 11/06/2024 (MT Newswires) -- European bourses tracked solidly higher midday Wednesday after media reports declared Donald Trump the winner of the US presidential election.

Traders also mulled the US Federal Reserve, which started a two-day meeting in Washington and is widely expected to announce a 0.25% rate cut on Thursday.

Tech and retail stocks gained, while bank and oil issues lagged.

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

The Eurozone producer price index, and the broader European Union PPI, fell by 0.6% in September from August, reported Eurostat. The PPI fell 3.4% on the year in the Eurozone and 3.3% in the EU, largely due to declining energy bills.

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

The Stoxx Europe 600 Technology Index was up 0.8%, but the Stoxx 600 Banks Index lost 0.3%.

The Stoxx Europe 600 Oil and Gas Index was flat, but the Stoxx 600 Europe Food and Beverage Index inclined 0.3%.

The REITE, a European REIT index, rose 0.1%, but the Stoxx Europe 600 Retail Index inclined 0.6%.

On the national market indexes, Germany's DAX was up 0.3%, and the FTSE 100 in London was up 0.9%. The CAC 40 in Paris was up 0.7%.

Yields on benchmark 10-year German bonds were lower, near 2.39%.

Front-month North Sea Brent crude-oil futures were down 1.3% to $74.52 per barrel.

The Euro Stoxx 50 volatility index was down 14.9% to 16.90, 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.

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