Middle East Relative Calm, Fed Views Lift European Bourses Midday

07:48 AM EDT, 06/26/2025 (MT Newswires) -- European bourses tracked moderately higher midday Thursday as traders monitored Middle East news, and reports that US President Donald Trump plans for a more-dovish central banker to succeed Federal Reserve Chair Jerome Powell, whose term expires next May.

Property, oil and retail stocks led gainers, while tech issues lagged.

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

In economic news, the GfK Consumer Climate Indicator for Germany edged down to a negative 20.3 heading into July, from a negative 20.0 in leading into June, as consumers moved to save more and spend less, said the market-research firm GfK.

The pan-continental Stoxx Europe 600 Index was up 0.2% mid-session.

The Stoxx Europe 600 Technology Index was down 0.4%, but the Stoxx 600 Banks Index was up 0.1%.

The Stoxx Europe 600 Oil and Gas Index was up 0.7%, and the Stoxx 600 Europe Food and Beverage Index gained 0.2%.

The REITE, a European REIT index, rose 0.8%, while the Stoxx Europe 600 Retail Index rose 0.9%.

On the national market indexes, Germany's DAX was up 0.6%, and the FTSE 100 in London rose 0.4%. The CAC 40 in Paris was up 0.2%, and Spain's IBEX 35 gained 0.2%.

Yields on benchmark 10-year German bonds were steady, near 2.55%.

Front-month North Sea Brent crude oil futures were up 0.4% at $66.72 a barrel.

The Euro Stoxx 50 volatility index was down 3% to 18.43, 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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