07:40 AM EDT, 03/12/2025 (MT Newswires) -- European bourses tracked higher midday Wednesday as traders weighed Ukraine-Russia peace negotiations, European counter-tariffs, and the outlook for boosted fiscal and monetary stimulus in Europe.

Bank, tech and property stocks gained, while retail issues lagged.

Spain's Intidex traded down 8% mid-session after the fashion giant posted Q4 results and soft sales.

The European Union announced retaliatory tariffs on US exports to the continent of steel and aluminum, while defense issues rose on the outlook for greater military outlays.

Investors also eyed Wall Street futures signaling green, but choppy closes overnight on Asian exchanges.

In economic news, European Central Bank (ECB) Governing Council member Mario Centeno said he would "move sooner rather than later," on interest-rate cuts, in an interview with The Wall Street Journal.

The pan-continental Stoxx Europe 600 Index was up 1% mid-session.

The Stoxx Europe 600 Technology Index was up 1.1%, and the Stoxx 600 Banks Index gained 1.7%.

The Stoxx Europe 600 Oil and Gas Index was up 0.4%, and the Stoxx 600 Europe Food and Beverage Index inclined 0.9%.

The REITE, a European REIT index, rose 1%, but the Stoxx Europe 600 Retail Index declined 2.9%.

On the national market indexes, Germany's DAX was up 1.8%, and the FTSE 100 in London was up 0.6%. The CAC 40 in Paris was up 1.3%, and Spain's IBEX 35 lost 0.62%.

Yields on benchmark 10-year German bonds were higher, near 2.93%.

Front-month North Sea Brent crude-oil futures were up 0.9% to $70.19 per barrel.

The Euro Stoxx 50 volatility index was down 4.3% to 22.35, 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.