07:32 AM EDT, 05/08/2025 (MT Newswires) -- European bourses tracked moderately higher midday Thursday after US President Donald Trump took to social media to tout a US-UK trade deal, to be officially announced at 10 am ET.

Tech stocks led broad market rallies, although property issues lagged.

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

In economic news, the Bank of England cut its key policy interest rate to 4.25% from 4.50%, as expected. The decision cleared by a 5-4 vote, with the minority voting to hold steady.

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

The Stoxx Europe 600 Technology Index was up 2.5%, and the Stoxx 600 Banks Index gained 0.9%.

The Stoxx Europe 600 Oil and Gas Index was up 1%, and the Stoxx 600 Europe Food and Beverage Index inclined 0.6%.

The REITE, a European REIT index, fell 0.3%, but the Stoxx Europe 600 Retail Index inclined 1.9%.

On the national market indexes, Germany's DAX was up 1.2%, and the FTSE 100 in London was up 0.4%. The CAC 40 in Paris was up 1.1%, and Spain's IBEX 35 gained 0.1%.

Yields on benchmark 10-year German bonds were higher, near 2.50%.

Front-month North Sea Brent crude-oil futures were up 1.4% to $61.98 per barrel.

The Euro Stoxx 50 volatility index was down 6.6% to 20.23, indicating marginally above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges

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