07:57 AM EDT, 03/23/2026 (MT Newswires) -- European bourses tracked higher Monday after President Donald Trump postponed for an additional five days pending strikes he had threatened on Iran's power infrastructure if Tehran does not open the oil-chokepoint Strait of Hormuz.

Trump said the US and Iran have had "productive conversations," in a social media post.

Tehran had announced that it would retaliate to attacks on its power systems by bombarding Persian Gulf water and power networks.

Bank and tech stocks led mid-session rallies on the continent, while oil shares lagged.

Investors also eyed Wall Street futures swinging into the green, after solidly lower closes overnight on Asian exchanges.

In economic news, the European Central Bank will act with "appropriate forcefulness" if inflation risks staying above target for a prolonged period, said ECB Governing Council member Peter Kazimir, in a blog post.

The pan-continental Stoxx Europe 600 Index was up 1.5% mid-session.

The Stoxx Europe 600 Technology Index was 3.1% higher, and the Stoxx 600 Banks Index rose 3.2%.

The Stoxx Europe 600 Oil and Gas Index fell 2.9%, while the Stoxx 600 Europe Food and Beverage Index declined 0.1%.

The REITE, a European REIT index, was 0.1% lower, while the Stoxx Europe 600 Retail Index was up 1.3%.

On the national market indexes, Germany's DAX was up 1.7%, and the FTSE 100 in London gained 0.4%. The CAC 40 in Paris was up 1.2%, and Spain's IBEX 35 lifted 0.9%.

Yields on benchmark 10-year German bonds were lower, near 2.99%.

Front-month North Sea Brent crude-oil futures were down 6.6% at $99.39 a barrel, but fluctuating.

The Euro Stoxx 50 volatility index was up 7.6% at 34.19, 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.