07:42 AM EDT, 08/30/2024 (MT Newswires) -- European bourses tracked moderately higher midday Friday as trader sentiments warmed on outlooks for global economic growth and easing central bank monetary policies.

Markets gained after Eurostat reported that euro area annual inflation is expected to post at 2.2% on year in August, down from 2.6% in July.

The European Central Bank targets a 2% annual inflation rate, and the soft August inflation report raised prospects for additional rate cuts from the ECB.

Property and bank stocks led broad gains, although tech issues lagged.

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

Euro area annual inflation is expected to post at 2.2% in August, down from 2.6% in July, according to a flash estimate from Eurostat. The European Central Bank targets a 2% annual inflation rate.

The pan-continental Stoxx Europe 600 Index was up 0.3% mid-session, pointing to all-time record-high close.

The Stoxx Europe 600 Technology Index was off 0.2%, but the Stoxx 600 Banks Index gained 0.7%.

The Stoxx Europe 600 Oil and Gas Index was up 0.4%, and the Stoxx 600 Europe Food and Beverage Index inclined 0.2%.

The REITE, a European REIT index, rose 1.5%, and the Stoxx Europe 600 Retail Index inclined 0.4%.

On the national market indexes, Germany's DAX was up 0.2%, and the FTSE 100 in London was up 0.3%. The CAC 40 in Paris was up 0.5%, and Spain's IBEX 35 gained 0.6%.

Yields on benchmark 10-year German bonds were lower, near 2.26%.

Front-month North Sea Brent crude-oil futures were up 0.2% to $79.01 per barrel.

The Euro Stoxx 50 volatility index was down 1.2% to 15.06, 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.