07:41 AM EDT, 05/29/2026 (MT Newswires) -- European bourses tracked moderately higher midday Friday on media reports that Washington and Tehran may agree to a 60-day ceasefire deal that could open the Strait of Hormuz in the next 30 days.

Bank and tech stocks led gains on continental trading floors, while oil shares lagged.

Front-month North Sea Brent crude-oil futures were down 1.9% at $90.97 a barrel.

Investors also eyed Wall Street futures modestly in the green, and higher closes overnight on Asian exchanges, including all-time zeniths set on equity indices in Seoul, Taiwan and Tokyo.

In economic news, the European Central Bank (ECB) should hike its key interest rate by 0.25% in June, said ECB governing council member Gediminas Simkus, reported Econostream. A 50 basis-point June increase would be too high, added Simkus.

The pan-continental Stoxx Europe 600 Index was up 0.6% mid-session.

The Stoxx Europe 600 Technology Index was up 1.1%, and the Stoxx 600 Banks Index also gained 1.1%.

The Stoxx Europe 600 Oil and Gas Index eased 0.3%, while the Stoxx 600 Europe Food and Beverage Index inclined 0.1%.

The REITE, a European REIT index, rose 0.7%.

On the national market indexes, Germany's DAX was up 0.1%, and the FTSE 100 in London gained 0.3%. The CAC 40 in Paris was up 0.7%, and Spain's IBEX 35 lifted 1%.

Yields on benchmark 10-year German bonds were steady, near 2.96%.

The Euro Stoxx 50 volatility index was down 2% at 19.09, 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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