European bourses tracked solidly higher midday Monday as traders digested rate cuts made last week by the Bank of England and the US Federal Reserve, and awaited inflation reports this week from France, Germany, Italy and Spain. Bank and tech stocks led broad gains. Investors also eyed Wall Street futures signaling green, but uneven closes overnight on Asian exchanges. The pan-continental Stoxx Europe 600 Index was up 1.1% mid-session. The Stoxx Europe 600 Technology Index was up 1.1%, and the Stoxx 600 Banks Index gained 1.3%. The Stoxx Europe 600 Oil and Gas Index was up 0.9%, and the Stoxx 600 Europe Food and Beverage Index inclined 0.8%. The REITE, a European REIT index, rose 0.4%, and the Stoxx Europe 600 Retail Index inclined 0.6%. On the national market indexes, Germany's DAX was up 1.3%, and the FTSE 100 in London was up 0.8%.
The CAC 40 in Paris was up 1.1%, and Spain's IBEX 35 gained 0.8%. Yields on benchmark 10-year German bonds were lower, near 2.34%. Front-month North Sea Brent crude-oil futures were down 1.4% to $72.85 per barrel. The Euro Stoxx 50 volatility index was down 1.7% to 16.49, 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..