07:39 AM EDT, 03/20/2024 (MT Newswires) -- European bourses tracked sideways midday Wednesday as traders weighed earnings reports and awaited the pending policy statement from the US Federal Reserve.

Tech stocks gained, while oil and bank issues lagged.

Shares in Kering fell 13.8% midday after the French luxury goods house posted earnings and warned sales of its Gucci brand may track lower by 20% in the first quarter.

Investors also eyed flat Wall Street futures and uneven closes overnight on Asian exchanges.

UK producer prices in February rose 0.4% on year, but were up 0.3% from January, the Office for National Statistics (ONS) reported.

The pan-continental Stoxx Europe 600 Index was steady mid-session.

The Stoxx Europe 600 Technology Index was up 0.5%, but the Stoxx 600 Banks Index lost 0.6%.

The Stoxx Europe 600 Oil and Gas Index was off 0.7%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.2%.

The REITE, a European REIT index, rose 0.3%, but the Stoxx Europe 600 Retail Index was flat.

On the national market indexes, Germany's DAX was up 0.3%, and the FTSE 100 in London was down 0.2%. The CAC 40 in Paris was off 0.5%, and the Swiss SMI was up 0.4%.

Yields on benchmark 10-year German bonds were lower, near 2.42%.

Front-month North Sea Brent crude oil futures were down 1.1% to $86.45 per barrel.

The Euro Stoxx 50 volatility index was down 0.5% to 13.04, 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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