Precise Investors Editorial Team
The Stoxx Europe 600 index was 0.6% higher
European stocks rose as oil prices fell and investors pared bets on interest rate hikes from the European Central Bank (ECB), while Julius Baer Group rallied after Swiss regulatory action against the bank ended.
The Stoxx Europe 600 index was 0.6% higher as at 11:36 AM GMT.
Chip stocks led the advance, with ASML Holding gaining 3.5%.
Oil and gas companies were the biggest laggards, retreating from record highs as Brent crude oil dropped below $105 a barrel after flows resumed through a key pipeline in Saudi Arabia.
In other individual stock moves, Julius Baer climbed 9%.
The bank said it applied for permission to resume share buybacks after Swiss regulator Finma concluded its enforcement procedure, marking the end of a painful restructuring.
Chocoladefabriken Lindt & Spruengli declined 8% after the Swiss-based chocolatier cut its sales growth guidance for a second time in 2026.
Meanwhile, traders have pulled back from bets on an October rate hike from the ECB after seemingly dovish comments from president Christine Lagarde.
The market is now pricing a 34% chance of an increase.
European stocks are entering the latest earnings season sitting just below all-time highs, but in need of a strong catalyst to overcome persistent geopolitical risks.
Brent crude has traded above $100 a barrel for three weeks running and an end to war in the Middle East seems distant, with Iranian officials pessimistic about the chances of a deal anytime soon.
The market is scrambling for some positive news, said Michael Field, chief equity market strategist for EMEA at Morningstar.
He said: There’s so many negatives building in the background so I think unless we get a series of positive catalysts, we’re not going to get back on track with that run.
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