07:53 AM EDT, 10/18/2024 (MT Newswires) -- European bourses tracked moderately higher midday Friday as traders digested China stimulus prospects, the rate-cut by the European Central Bank, or ECB, and prospects for a reduction in Middle East tensions.

Beijing reported the nation's Q3 economy expanded by 4.6% on year, which was below the national target of a 5% gain, and boosted the outlook for additional stimulus from fiscal and monetary agencies.

The ECB on Thursday cut its key policy rate to 3.25% from 3.5% and hinted more cuts are on the table.

Prospects for a Middle East ceasefire may have increased following the elimination of Hamas' leader Yahya Sinwar earlier this week.

Tech and bank stocks led gainers, while retail and property issues lagged.

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

Headline inflation in the Eurozone is expected to log at 1.9% in 2025, according to the latest European Central Bank's Survey of Professional Forecasters.

The region's gross domestic product, or GDP, is expected to rise by 1.2% on year, added the ECB.

The pan-continental Stoxx Europe 600 Index was up 0.2% mid-session.

The Stoxx Europe 600 Technology Index was up 1.5%, and the Stoxx 600 Banks Index gained 0.5%.

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

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

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

Yields on benchmark 10-year German bonds were lower, near 2.19%.

Front-month North Sea Brent crude-oil futures were down 0.4% to $74.13 per barrel.

The Euro Stoxx 50 volatility index was down 3.7% to 17.59, 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.

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