06:50 AM EST, 03/05/2025 (MT Newswires) -- European bourses tracked higher midday Wednesday as traders digested proposed defense and infrastructure spending boosts on the continent, and comments by US Commerce Secretary Howard Lutnick that Trump Administration tariffs could be tempered.

Tech and bank stocks led rallies, while property issues lagged. Broad-market equity indices of German equities rose at least 3%.

Investors also eyed Wall Street futures signaling green, and higher closes overnight on Asian exchanges.

In economic news, yields on benchmark 10-year German national bonds rose to 2.67% on plans to allow Germany to boost defense spending beyond 1% of gross domestic product, and a proposed 500-billion-euro infrastructure fund, to stimulate the economy over 10 years.

The pan-continental Stoxx Europe 600 Index was up 1.3% mid-session.

The Stoxx Europe 600 Technology Index rose 2.8%, and the Stoxx 600 Banks Index gained 3.4%.

The Stoxx Europe 600 Oil and Gas Index was up 1.3%, but the Stoxx 600 Europe Food and Beverage Index declined 1.2%.

The REITE, a European REIT index, fell 1.8%, while the Stoxx Europe 600 Retail Index inclined 1.6%.

On the national market indexes, Germany's DAX was up 3.3%, and the FTSE 100 in London ticked 0.4% higher. The CAC 40 in Paris was up 1.9%, and Spain's IBEX 35 gained 1.7%.

Front-month North Sea Brent crude-oil futures were down 1.4% to $70.11 per barrel.

The Euro Stoxx 50 volatility index was down 9.2% to 20.58, still indicating marginally 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.