European Shares Extend Gains as Oil Falls and Nvidia Earnings Loom
European shares extended gains on Wednesday afternoon, with the STOXX 50 up 0.6% and the broader STOXX 600 rising 0.3%, as investors awaited Nvidia’s earnings report and monitored developments around the Strait of Hormuz. Iran said it had resumed talks with Oman on managing the Strait amid mounting pressure from US President Donald Trump during the nearly six-month conflict, raising hopes the key waterway could reopen. Brent crude fell for a third straight session, helping push bond yields lower and easing inflation concerns. Investors also digested US inflation data, with the PCE price index rising 0.2% in July, above expectations. In Europe, ECB policymakers were reported to be prepared to raise rates at their September meeting, but were reluctant to signal further tightening thereafter. Among individual stocks, SAP fell more than 4% after US software maker Intuit issued a disappointing forecast, while UBS downgraded the German software group to “neutral.”
European shares extended gains on Wednesday afternoon, with the STOXX 50 up 0.6% and the broader STOXX 600 rising 0.3%, as investors awaited Nvidia’s earnings report and monitored developments around the Strait of Hormuz.
Iran said it had resumed talks with Oman on managing the Strait amid mounting pressure from US President Donald Trump during the nearly six-month conflict, raising hopes the key waterway could reopen.
Brent crude fell for a third straight session, helping push bond yields lower and easing inflation concerns.
Investors also digested US inflation data, with the PCE price index rising 0.2% in July, above expectations.
In Europe, ECB policymakers were reported to be prepared to raise rates at their September meeting, but were reluctant to signal further tightening thereafter.
Among individual stocks, SAP fell more than 4% after US software maker Intuit issued a disappointing forecast, while UBS downgraded the German software group to “neutral.”