06:58 AM EST, 12/03/2024 (MT Newswires) -- European bourses tracked moderately higher midday Tuesday as traders mulled the stressed political scene in Paris, but possibly easing central banks globally.

The European Central Bank will likely cut its key policy rate in Frankfurt next week, Governing Council member Martins Kazaks, a Latvian banker, told Delfi TV on Monday.

Meanwhile, France's National Rally party is threatening to unravel a fragile coalition government led by Prime Minister Michel Barnier, over the conservative leader's plans to cut the French national budget deficit.

Bank and oil stocks led gainers, while property issues lagged.

Investors also mulled muted Wall Street futures, but solidly higher closes overnight on Asian exchanges, after the central bank of mainland China indicated a commitment to monetary easing in an online post.

The pan-continental Stoxx Europe 600 Index was 0.3% higher mid-session.

The Stoxx Europe 600 Technology Index was up 0.4%, and the Stoxx 600 Banks Index gained 1.2%.

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

The REITE, a European REIT index, fell 0.3%, but the Stoxx Europe 600 Retail Index inclined 0.8%.

On the national market indexes, Germany's DAX was up 0.1%, and the FTSE 100 in London was up 0.7%. The CAC 40 in Paris was up 0.2%, and Spain's IBEX 35 gained 0.8%.

Yields on benchmark 10-year German bonds were higher, near 2.07%.

Front-month North Sea Brent crude-oil futures were up 1.1% to $72.61 per barrel.

The Euro Stoxx 50 volatility index was down 2.2% to 16.80, 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.

http://www.mtnewswires.com
Copyright © 2024 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.