08:00 AM EDT, 10/01/2025 (MT Newswires) -- European bourses tracked moderately higher midday as pharmaceutical stocks rose after a deal was struck between Pfizer (PFE) and the Trump Administration to lower drug prices in exchange for tariff relief.

Bank and oil stocks also led gainers in continental markets, while tech shares lagged.

In addition, investors eyed Wall Street futures flashing red but largely higher closes overnight on Asian trading floors, although exchanges in Hong Kong and mainland China were shuttered on holiday.

In economic news, the Eurozone manufacturing purchasing managers index declined to 49.8 in September from 50.7 in August, and logged below the 50-mark that separates growth from contraction, S&P Global reported.

The Eurozone September consumer price index rose by 2.2% year over year after a 2% gain in August, Eurostat reported.

The pan-continental Stoxx Europe 600 Index was up 0.7% mid-session.

The Stoxx Europe 600 Technology Index was down 0.2%, while the Stoxx 600 Banks Index gained 0.6%.

The Stoxx Europe 600 Oil and Gas Index was up 1.1%, and the Stoxx 600 Europe Food and Beverage Index gained 0.5%.

The REITE, a European REIT index, gained 0.1%, and the Stoxx Europe 600 Retail Index was up 0.5%.

On the national market indexes, Germany's DAX was up 0.5%, and the FTSE 100 in London rose 0.7%. The CAC 40 in Paris was up 0.3%, and Spain's IBEX 35 gained 0.1%.

Yields on benchmark 10-year German bonds were steady, near 2.72%.

Front-month North Sea Brent crude-oil futures were off 0.4% at $65.77 a barrel.

The Euro Stoxx 50 volatility index was down 0.2% at 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.

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