07:46 AM EDT, 06/03/2024 (MT Newswires) -- European bourses tracked moderately higher midday Monday as traders awaited the European Central Bank's interest rate decision due Thursday, generally expected to be a 25 basis-point cut.

Yields on benchmark German sovereign bonds eased.

Retail, tech and bank stocks led broad market gains.

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

The Eurozone Manufacturing Purchasing Managers' Index (PMI) increased to 47.3 in May from 45.7 in April, marking a 14-month high, S&P Global reported. However, the May result still fell below the 50-marker that separates growth from contraction.

The pan-continental Stoxx Europe 600 Index was up 0.4% mid-session.

The Stoxx Europe 600 Technology Index was 1%, higher, and the Stoxx 600 Banks Index gained 0.6%.

The Stoxx Europe 600 Oil and Gas Index was up 0.8%, and the Stoxx 600 Europe Food and Beverage Index edged 0.2% higher.

The REITE, a European REIT index, gained 0.5%, and the Stoxx Europe 600 Retail Index edged 1.3% higher.

On the national market indexes, Germany's DAX was up 0.8%, and the FTSE 100 in London was 0.1% higher. The CAC 40 in Paris was up 0.4%, and Spain's IBEX 35 gained 0.7%.

Yields on 10-year German bonds were lower, near 2.61%.

Front-month North Sea Brent crude oil futures were up 0.2% at $81.26 per barrel.

The Euro Stoxx 50 volatility index was up 1.1% at 14.14, indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.