07:42 AM EDT, 05/20/2025 (MT Newswires) -- European bourses tracked moderately higher midday Tuesday as traders mulled uncertain Ukraine-Russian peace prospects and after central bank rate cuts in Asia.

The People's Bank of China and the Reserve Bank of Australia both reduced rates on Tuesday, underlining global signals that inflation may be largely quelled and interest rates could recede in coming seasons.

Bank and oil stocks led broad, moderate equity gains across the continent.

Investors also eyed Wall Street futures signaling red, but higher closes overnight on Asian exchanges.

In economic news, the European Union (EU) has approved its 17th package of sanctions imposed on Russia over the Ukraine war, including measures against 200 shadow-fleet vessels, top EU diplomat Kaja Kallas announced, on the social-media platform X.

The pan-continental Stoxx Europe 600 Index was up 0.6% mid-session.

The Stoxx Europe 600 Technology Index was up 0.4%, and the Stoxx 600 Banks Index gained 0.9%.

The Stoxx Europe 600 Oil and Gas Index was up 0.7%, and the Stoxx 600 Europe Food and Beverage Index inclined 0.3%.

The REITE, a European REIT index, rose 0.1%, and the Stoxx Europe 600 Retail Index inclined 0.5%.

On the national market indexes, Germany's DAX was up 0.4%, and the FTSE 100 in London was up 0.5%. The CAC 40 in Paris was up 0.5%, and Spain's IBEX 35 gained 1.4%.

Yields on benchmark 10-year German bonds were higher, near 2.58%.

Front-month North Sea Brent crude-oil futures were down 0.5% to $65.19 per barrel.

The Euro Stoxx 50 volatility index was down 2.6% to 16.37, 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.