07:40 AM EDT, 06/05/2025 (MT Newswires) -- European bourses tracked moderately higher midday Thursday as traders awaited an expected European Central Bank (ECB) rate cut.

In general, markets are anticipating that the ECB will reduce its key policy rate to 2.00% from 2.25%.

Retail, property and tech stocks led the upside, while bank and food issues lagged.

Investors also eyed muted Wall Street futures, but higher closes overnight on Asian exchanges, excluding Tokyo.

In economic news, the eurozone producer price index (PPI) rose by 0.7% on year in April, and increased by 0.6% in the broader European Union, reported Eurostat.

On month, in April the PPI dropped by 2.2% from March in the eurozone, and fell by 2.1% in the EU.

The pan-continental Stoxx Europe 600 Index was up 0.3% mid-session.

The Stoxx Europe 600 Technology Index was up 0.6%, but the Stoxx 600 Banks Index lost 0.1%.

The Stoxx Europe 600 Oil and Gas Index was up 0.3%, but the Stoxx 600 Europe Food and Beverage Index declined 0.1%.

The REITE, a European REIT index, rose 0.7%, but the Stoxx Europe 600 Retail Index declined 0.6%.

On the national market indexes, Germany's DAX was up 0.2%, and the FTSE 100 in London was also up 0.2%. The CAC 40 in Paris was up 0.3%, and Spain's IBEX 35 gained 0.1%.

Yields on benchmark 10-year German bonds were lower, near 2.49%.

Front-month North Sea Brent crude oil futures were up 0.3% to $65.04 per barrel.

The Euro Stoxx 50 volatility index was down 3.3% to 17.99, 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.