07:38 AM EDT, 04/02/2026 (MT Newswires) -- European bourses tracked solidly lower midday Thursday after US President Donald Trump indicated in a late Wednesday address that strikes on Iran will continue for up to three weeks, and that plans to reopen the Strait of Hormuz lay outside Washington.

Oil and food stocks led gains on continental trading floors, while bank, tech and retail shares lagged.

Front-month North Sea Brent crude-oil futures were up 8% at $109.23 a barrel, in midday activity.

Traders also eyed Wall Street futures flashing red, and largely lower closes overnight on Asian exchanges.

In economic news, the European Central Bank said inflation is expected to log at 3.1% year over year in Q2, which was above recent projections amid higher oil prices. The bank predicted inflation will fall back to 2.8% in Q3.

The pan-continental Stoxx Europe 600 Index was off 1.1% mid-session.

The Stoxx Europe 600 Technology Index was down 3%, and the Stoxx 600 Banks Index lost 2%.

The Stoxx Europe 600 Oil and Gas Index rose 1.5%, while the Stoxx 600 Europe Food and Beverage Index edged 0.2% higher.

The REITE, a European REIT index, declined 0.2%, while the Stoxx Europe 600 Retail Index was down 1.5%.

On the national market indexes, Germany's DAX was down 2.2%, and the FTSE 100 in London lost 0.2%. The CAC 40 in Paris was down 1.1%, and Spain's IBEX 35 eased 1.4%.

Yields on benchmark 10-year German bonds were higher, near 3.04%.

The Euro Stoxx 50 volatility index was up 10% at 29.77, 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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