07:36 AM EDT, 06/06/2024 (MT Newswires) -- European bourses tracked moderately higher midday Thursday ahead of an expected rate cut by the European Central Bank.

Food and tech stocks led gains as broad market indices tested record highs.

Investors also eyed muted Wall Street futures, but largely higher closes overnight on Asian exchanges as tech shares gained.

April seasonally adjusted retail sales fell 0.5% in the eurozone from March, and were flat year-over-year, reported Eurostat. In the broader European Union, retail sales in April fell 0.6% on the month and declined 0.1% on the year.

The pan-continental Stoxx Europe 600 Index was up 0.7% mid-session.

The Stoxx Europe 600 Technology Index was up 1.7%, and the Stoxx 600 Banks Index gained 0.7%.

The Stoxx Europe 600 Oil and Gas Index was up 0.3%, and the Stoxx 600 Europe Food and Beverage Index inclined 0.8%.

The REITE, a European REIT index, rose 0.4%, but the Stoxx Europe 600 Retail Index declined 0.1%.

On the national market indexes, Germany's DAX was up 0.8%, 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 0.6%.

Yields on benchmark 10-year German bonds were higher, near 2.53%.

Front-month North Sea Brent crude oil futures were up 0.7% to $79.97 per barrel.

The Euro Stoxx 50 volatility index was down 1.8% to 13.69, 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.