07:06 AM EST, 01/30/2025 (MT Newswires) -- European bourses tracked moderately higher midday Thursday, again testing all-time highs as traders await an expected rate cut from the European Central Bank (ECB) and digest earnings-season reports.

With the continental economy in the doldrums, the ECB is widely anticipated to lower its key deposit rate to 2.75% from 3.00% and to signal that more rate cuts are on the table this year.

Property, tech, and oil stocks led gainers, while bank issues lagged.

Investors also eyed Wall Street futures, which signaled green, and higher overnight closes on Asian exchanges, the latter in holiday-thinned trading.

In economic news, Germany's Q4 gross domestic product (GDP) fell by 0.2% from Q3, after adjustment for price, seasonal, and calendar variations, reported DeStatis.

The pan-continental Stoxx Europe 600 Index was up 0.6% mid-session, testing a fresh record high. National equity indices in Germany and Spain also traded at record highs.

The Stoxx Europe 600 Technology Index was up 1.3%, but the Stoxx 600 Banks Index lost 0.2%.

The Stoxx Europe 600 Oil and Gas Index was up 1.3%, and the Stoxx 600 Europe Food and Beverage Index inclined 0.6%.

The REITE, a European REIT index, rose 1.1%, and the Stoxx Europe 600 Retail Index inclined 0.7%.

On the national market indexes, Germany's DAX was up 0.4%, and the FTSE 100 in London was up 0.4%. The CAC 40 in Paris was up 0.6%, and Spain's IBEX 35 gained 0.8%.

Yields on benchmark 10-year German bonds were lower, near 2.51%.

Front-month North Sea Brent crude oil futures were steady near $75.58 per barrel.

The Euro Stoxx 50 volatility index was down 3.3% to 15.11, 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.