07:48 AM EDT, 07/02/2025 (MT Newswires) -- European bourses tracked moderately higher midday Wednesday as investors weighed prospects for a European Union-US trade deal, following media reports that the EU's trade chief plans talks this week in Washington.

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

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

In economic news, the European Commission proposed a European Union goal of achieving a 90% reduction in net greenhouse gas emissions by 2040, from 1990 levels. But following opposition from France, Germany, Italy, Poland and the Czech Republic, the Commission also proposed adjustments that could soften the 90% emissions-reduction target, Reuters reported.

The pan-continental Stoxx Europe 600 Index was up 0.4% mid-session.

The Stoxx Europe 600 Technology Index was down 1%, but the Stoxx 600 Banks Index was up 1.7%.

The Stoxx Europe 600 Oil and Gas Index was up 2%, but the Stoxx 600 Europe Food and Beverage Index was flat.

The REITE, a European REIT index, fell 1.2%, while the Stoxx Europe 600 Retail Index gained 0.1%

On the national market indexes, Germany's DAX was up 0.3%, and the FTSE 100 in London lifted 0.1%. The CAC 40 in Paris was up 1.2%, and Spain's IBEX 35 rose 0.7%.

Yields on benchmark 10-year German bonds were higher, near 2.58%.

Front-month North Sea Brent crude-oil futures were up 1.3% at $67.99 a barrel.

The Euro Stoxx 50 volatility index was down 0.8% to 17.51, 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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