26.08.202614:05:56UTC+00European 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 advancing 0.3%, as investors awaited Nvidia’s earnings report and tracked geopolitical developments in the Strait of Hormuz. Iran said it had resumed talks with Oman on managing traffic through the Strait amid mounting pressure from US President Donald Trump during the nearly six‑month conflict, raising hopes that this vital shipping route could soon reopen.

Brent crude fell for a third consecutive session, helping to pull bond yields lower and easing some inflation worries. Investors also assessed fresh US inflation data, as the PCE price index rose 0.2% in July, slightly above expectations.

In Europe, ECB policymakers were reported to be ready to raise interest rates at their September meeting, while remaining cautious about signaling any further tightening beyond that. Among individual stocks, SAP declined about 3% after US software maker Intuit issued a disappointing forecast, and UBS downgraded the German software group to “neutral.”