07:34 AM EDT, 08/03/2026 (MT Newswires) -- European bourses tracked moderately higher midday Monday as traders waded back into tech issues, weighed lower oil prices, and monitored reports of a possible Persian Gulf peace deal.

President Donald Trump, over the weekend, suspended plans for military strikes on Iran and said that reopening the Strait of Hormuz may be on the table.

Front-month North Sea Brent crude oil futures were down 5% at $83.50 a barrel, in midday action.

Bank and tech stocks led gains on continental trading floors, while oil shares lagged.

Investors also eyed Wall Street futures in the green, but mixed closes overnight on Asian exchanges.

In economic news, Switzerland's consumer price index (CPI) rose 0.4% on the year in July, easing from the 0.5% rate logged in June, reported the Federal Statistical Office.

The pan-continental Stoxx Europe 600 Index was up 0.4% mid-session.

The Stoxx Europe 600 Technology Index was up 1.1%, and the Stoxx 600 Banks Index gained 1.2%.

The Stoxx Europe 600 Oil and Gas Index eased 1.3%, while the Stoxx 600 Europe Food and Beverage Index inclined 0.4%.

The REITE, a European REIT index, rose 0.4%.

On the national market indexes, Germany's DAX was up 1.4%, and the FTSE 100 in London gained 0.1%. The CAC 40 in Paris was up 1.2%, and Spain's IBEX 35 lifted 0.8%.

Yields on benchmark 10-year German bonds were lower, near 3.15%.

The Euro Stoxx 50 volatility index was down 2.2% at 16.83, 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.