07:40 AM EDT, 07/09/2025 (MT Newswires) -- European bourses tracked moderately higher midday Wednesday on expectations that the US and European Union may settle upon a trade deal within the month.

Bank and oil stocks led broad market gains.

Investors also eyed positive Wall Street futures and mixed closes overnight on Asian exchanges.

In economic news, German Chancellor Friedrich Merz said the European Union may close a trade deal with the US soon. "I am cautiously optimistic that we can succeed in reaching an agreement with the US in the next few days, by the end of the month at the latest," Merz told lawmakers in the Bundestag, reported Politico.

The pan-continental Stoxx Europe 600 Index was up 0.8% mid-session.

The Stoxx Europe 600 Technology Index was up 0.2%, and the Stoxx 600 Banks Index gained 1.6%.

The Stoxx Europe 600 Oil and Gas Index was up 1%, and the Stoxx 600 Europe Food and Beverage Index rose 0.3%.

The REITE, a European REIT index, rose 0.5%, while the Stoxx Europe 600 Retail Index was up 0.2%.

On the national market indexes, Germany's DAX was up 1.1%, and the FTSE 100 in London rose 0.3%. The CAC 40 in Paris advanced 1.3%, and Spain's IBEX 35 gained 1.1%.

Yields on benchmark 10-year German bonds were steady at 2.64%.

Front-month North Sea Brent crude oil futures were up 0.2%, at $70.27 a barrel.

The Euro Stoxx 50 volatility index was down 4.4% to 16.65, 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.