06:55 AM EST, 12/04/2024 (MT Newswires) -- European bourses tracked modestly higher midday Wednesday, as traders looked to possible central bank easing, and shrugged off concerns of upheavals in the French government, in that country's showdown over the national budget.

Both the European Central Bank, and the US Federal Reserve, have policy meetings pending this month, with expectations for rate cuts high.

Retail and tech stocks led gainers on the continent, while food issues lagged.

Broad equity indices in Paris logged modest gains; however, French national bonds continued to trade at discounts to peer issues, such as German sovereign bonds.

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

The producer price index (PPI) rose by 0.4% in October from September both in the Eurozone and the European Union, reported Eurostat. On year, the PPI dropped 3.2% in the euro area and 3% in the broader EU.

The pan-continental Stoxx Europe 600 Index was up 0.3% mid-session.

The Stoxx Europe 600 Technology Index was up 1.1%, and the Stoxx 600 Banks Index gained 0.7%.

The Stoxx Europe 600 Oil and Gas Index was up 0.4%, but the Stoxx 600 Europe Food and Beverage Index declined 0.5%.

The REITE, a European REIT index, rose 0.4%, and the Stoxx Europe 600 Retail Index inclined 1.6%.

On the national market indexes, Germany's DAX was up 1%, and the FTSE 100 in London was down 0.3%. The CAC 40 in Paris was up 0.4%, and Spain's IBEX 35 gained 0.6%.

Yields on benchmark 10-year German bonds were higher, near 2.09%.

Front-month North Sea Brent crude-oil futures were up 0.3% to $73.86 per barrel.

The Euro Stoxx 50 volatility index was down 4.1% to 15.80, 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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