Persian Gulf Outlook Caps European Bourses Midday

European bourses tracked modestly higher midday Friday as traders weighed renewed and ongoing Persian Gulf hostilities, and the re-closing of the Strait of Hormuz to tanker traffic. Front-month North Sea Brent crude-oil futures were up 0.7%, at $76.82 a barrel. Property and bank stocks led gains on continental trading floors, while tech and oil shares lagged. In equity news, shares in UK airline easyJet lifted 15.1% after a surprise $7.65 takeover bid by US private-equity firm Apollo Global Management (APO) was disclosed, one that trumped a rival bid from Castlelake, another US-based private-equity firm. Investors also eyed mixed and muted Wall Street futures, but higher lower closes overnight on Asian exchanges. In economic news, France's consumer price index (CPI) in June rose 1.8% on year, down from the 2.4% on-year increase logged in May, reported INSEE. Germany's CPI in June gained 2.3% on year, down from 2.6% on year in May, reported Destatis. The pan-continental Stoxx Europe 600 Index was up 0.2% mid-session. The Stoxx Europe 600 Technology Index was down 0.5%, and the Stoxx 600 Banks Index gained 0.7%. The Stoxx Europe 600 Oil and Gas Index eased 0.4%, while the.