European stock markets extended their gains by Tuesday midday, September 29, 2026, driven by strong economic data and a surge in technology equities, despite Brent crude hovering around $105 per barrel and 10-year US Treasury yields yielding 5.23 percent.
DAX and Euro-Stoxx-50 Climb Amid Geopolitical Friction
The DAX rose 0.6 percent to 25,527 points, while the Euro-Stoxx-50 gained 0.9 percent to 6,355 points by midday. Markets brushed aside macroeconomic friction stemming from stalled ceasefire negotiations between the US and the Iran. Donald Trump had previously rejected a negotiation proposal put forward by Iran.
“Iran and the USA are still far apart on a ceasefire agreement and the reopening of the Strait of Hormuz,” noted Sally Auld from the NAB.
Despite the diplomatic deadlock, regional oil exports from the Middle East hit their highest level since the conflict began in February, according to recent oil data trackers showing increased transport flows through the Strait of Hormuz. However, potential US moves regarding a diesel export ban continue to threaten global energy market stability. Amid these shifting commodity dynamics, gold prices recovered 0.9 percent to $4,152 per troy ounce following the previous session’s sell-off.
Technology Sector Rallies on Nvidia and Anthropic Momentum
Technology issues led the European advance. Schneider Electric, ASML, Infineon, and Siemens Energy posted gains of up to 4 percent. This upward momentum was fueled in part by Nvidia’s overnight market rally and a wave of optimism surrounding the initial public offering prospectus filed by Anthropic.
“That lifts the caution after OpenAI’s backpedaling,” a market trader observed.
According to Helaba strategists, Anthropic’s “exorbitant” planned infrastructure spending outlay of up to 518 billion US dollars for AI computing capacity served as a primary catalyst for tech valuations.
Corporate Restructuring and Acquisition Activity in Focus
Corporate developments generated notable volatility across individual equities. Evonik shares advanced 1.8 percent to 20.20 euros following reports from the “FT” that the specialty chemicals group had rejected an acquisition bid from BASF as too low. While BASF reportedly offered 22.15 euros per share, DZ Bank noted that a price of 22 euros already represents a takeover premium of roughly 46 percent—exceeding the standard 30 to 40 percent range and leaving limited room for upward pricing adjustments. BASF shares gained 0.7 percent.
Meanwhile, Julius Bär shares surged 8.9 percent. Investor relief followed the conclusion of investigations by financial market regulators against the institution.
“In addition, this clears the way for a new share buyback and lowers capital requirements,” a trader explained.
Lindt & Sprüngli Slumps on Profit Warning and Pricing Pushback
In stark contrast, Lindt & Sprüngli shares plunged 8.7 percent following the company’s second profit warning within a year. Following a severe sales slump during the Easter season, consumer pushback against premium price points has eroded sales volume. Lindt now expects sales growth of only 0 to 2 percent, down from its previous forecast of 4 to 6 percent. Swiss peer Barry Callebaut also dipped 2.5 percent.
Shipping giant Hapag-Lloyd climbed 4.0 percent after upgrading its forecast for 2026. Hornbach Holding rose 1.1 percent. Metzler analysts highlighted the home improvement retailer’s continued resilience within a difficult retail environment—underscored by the recent insolvency of rival competitor Hellweg. According to GfK market research data, Hornbach successfully expanded its market share across key core territories including Germany, the Netherlands, and Austria during the first seven months of 2026, driven by competitive pricing strategies.
Market Indices Overview
- Euro-Stoxx-50: 6,354.72 (+0.9%)
- Stoxx-50: 5,396.48 (+0.7%)
- DAX: 25,527.21 (+0.6%)
- MDAX: 31,030.94 (+0.4%)
- TecDAX: 4,012.86 (+1.1%)
- SDAX: 18,416.09 (+0.9%)
- FTSE: 10,722.36 (+0.4%)
- CAC: 8,095.28 (+0.2%)
- SMI: 14,017.62 (+0.5%)
- ATX: 6,985.96 (-0.4%)
