07:38 AM EDT, 04/08/2026 (MT Newswires) -- European bourses tracked sharply higher midday Wednesday as traders weighed prospects following the morning announcement of a two-week Persian Gulf ceasefire between the US and Iran.

The pan-continental Stoxx Europe 600 Index was up 4% mid-session.

Tech and bank stocks led large gains on continental trading floors, while oil shares lagged.

Front-month North Sea Brent crude-oil futures were down 14% midday at $93.91 a barrel.

Yields on benchmark 10-year German bonds were lower, near 2.92%.

Investors also eyed Wall Street futures flashing green, and higher closes overnight on Asian exchanges, led by a 6.9% rise on Seoul's KOSPI index.

In economic news, seasonally adjusted retail sales in the euro area declined by 0.2% month over month in February and fell by 0.3% in the broader European Union, Eurostat reported. Year over year, retail sales advanced by 1.7% in February in both the euro area and the bloc.

The Stoxx Europe 600 Technology Index was up 6.6%, and the Stoxx 600 Banks Index also rose 6.6%.

The Stoxx Europe 600 Oil and Gas Index eased 2.5%, while the Stoxx 600 Europe Food and Beverage Index advanced 1.9%.

The REITE, a European REIT index, rose 4.9%

On the national market indexes, Germany's DAX was up 5%, and the FTSE 100 in London rose 2.9%. The CAC 40 in Paris was up 4.6%, and Spain's IBEX 35 advanced 4.1%.

The Euro Stoxx 50 volatility index was down 21% at 24.39, but still indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.