07:50 AM EDT, 07/22/2024 (MT Newswires) -- European bourses tracked solidly higher midday Monday as traders waded back into tech shares, and weighed the unfolding earnings season.

In addition to tech shares, bank and food stocks led broad market gains. The announcement by US President Joe Biden that he would not seek reelection appeared to not roil markets.

Investors also eyed Wall Street futures signaling green, but largely lower closes overnight on Asian exchanges. Hong Kong bucked trends, gaining after the People's Bank of China announced modest rate cuts.

The pan-continental Stoxx Europe 600 Index was up 1.2% mid-session.

The Stoxx Europe 600 Technology Index was up 1.7%, and the Stoxx 600 Banks Index gained 1.2%.

The Stoxx Europe 600 Oil and Gas Index was up 0.2%, and the Stoxx 600 Europe Food and Beverage Index inclined 1.4%.

The REITE, a European REIT index, rose 0.6%, but the Stoxx Europe 600 Retail Index inclined 0.7%.

On the national market indexes, Germany's DAX was up 1.4%, and the FTSE 100 in London was up 0.8%. The CAC 40 in Paris was up 1.4%, and Spain's IBEX 35 gained 0.7%.

Yields on benchmark 10-year German bonds were lower, near 2.46%.

Front-month North Sea Brent crude-oil futures were down 0.4% to $82.27 per barrel.

The Euro Stoxx 50 volatility index was up 5.01% to 16.52, 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.