07:38 AM EDT, 04/23/2024 (MT Newswires) -- European bourses tracked higher midday Tuesday as traders weighed earnings reports and measured the relative calm in the Middle East.

Tech and retail issues led broad market rallies.

Associated British Foods gained 9.5% after reporting earnings and boosting its outlook and dividend. London's FTSE 100 tested fresh record highs during mid-session hours.

Investors also eyed Wall Street futures signaling green, and largely higher closes overnight on Asian exchanges.

The Eurozone composite purchasing managers index (PMI) rose to 51.4 in April from 50.3 in March, rising further above the 50-marker that separates growth from contraction, reported S&P Global.

The pan-continental Stoxx Europe 600 Index was up 1% mid-session.

The Stoxx Europe 600 Technology Index was up 2%, and the Stoxx 600 Banks Index gained 1.3%.

The Stoxx Europe 600 Oil and Gas Index was up 0.7%, and the Stoxx 600 Europe Food and Beverage Index inclined 0.4%.

The REITE, a European REIT index, rose 0.8%, and the Stoxx Europe 600 Insurance Index increased 1.7%.

On the national market indexes, Germany's DAX was up 1.2%, and the FTSE 100 in London was up 0.4%. The CAC 40 in Paris was up 0.8%, and Spain's IBEX 35 gained 1.4%.

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

Front-month North Sea Brent crude oil futures were down 0.4% to $86.64 per barrel.

The Euro Stoxx 50 volatility index was down 6.5% to 16.01, 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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