TLDR
- The STOXX 600 rose on Tuesday, led by gains in technology shares.
- Semiconductor stocks advanced after a report said Anthropic plans a stock market listing that could value the company at more than $2 trillion.
- Oil prices stayed high as tensions between the U.S. and Iran continued without a breakthrough.
- Lindt shares fell about 7% after the company cut its 2026 sales forecast for the second time this year.
- Julius Baer and Legrand posted strong gains after positive company news.
European stock markets moved higher on Tuesday. Technology shares were the biggest driver of the gains.
The pan-European STOXX 600 index rose about 0.3% to 640.28 points by mid morning. Most other regional indexes also traded higher on the day.
Technology stocks reached their highest level in a month. This came after a Reuters report about Anthropic’s plans for a stock market listing.
The listing could value the AI company at more than $2 trillion. Investors saw this as a sign that interest in AI company listings is returning.
Tech Stocks Lead Gains
Semiconductor companies gained ground following the Anthropic news. Market analyst Fiona Cincotta said the report brought back excitement around companies going public.
ANTHROPIC FILES FOR IPO, PROSPECTUS SEEN BY REUTERS
Here’s everything you need to know:
Anthropic could seek a valuation above $2 trillion.
2025 financials:
Rev: $4.59B, up 1,088% YoY from $386M
Oper loss: $8.06B, widening from $2.98B
GAAP net loss: $41.97B, vs $8.31B in 2024… pic.twitter.com/ntYJ03uszx— Wall St Engine (@wallstengine) September 28, 2026
That trade had struggled in recent weeks. Earlier this month, leaders at several AI companies had called for slower growth due to concerns about misuse of the technology.
That earlier news had weighed on tech stocks. Rising bond yields added more pressure at the time.
Oil prices remained high on Tuesday. Brent crude futures held near $106.99 a barrel.
The price stayed elevated because there was no breakthrough in the standoff between the U.S. and Iran. European economies depend heavily on imported fuel, so higher oil prices tend to hit the region harder.
Bond yields around the world stayed near multi decade highs. Investors are still concerned about inflation risks tied to energy costs.
European Central Bank President Christine Lagarde spoke on Monday. She said this year’s rise in inflation has not yet led to major follow on effects across the euro zone.
Lagarde suggested that a measured policy approach still makes sense. The ECB had already raised interest rates earlier this month.
Individual Stock Movers
Lindt was the biggest decliner on the STOXX 600. Shares fell close to 7%.
The Swiss chocolate maker cut its 2026 sales forecast for the second time this year. The company pointed to weaker consumer spending, more price sensitive shoppers, and low demand tied to a European heatwave.
Rivals Barry Callebaut and Nestle also traded lower on the news. Julius Baer moved in the opposite direction, becoming the day’s top gainer.
Shares in the Swiss bank jumped close to 8%. Switzerland’s financial regulator FINMA closed enforcement proceedings tied to private debt loans and client relationships with two politically exposed Russian individuals.
Legrand also had a strong day. Shares in the French electrical and digital infrastructure company rose more than 7% after it raised its medium term targets.
Elsewhere in Europe, London’s index gained about half a percent, helped by healthcare and mining stocks. Germany’s index and France’s index posted smaller gains.
Spain’s annual inflation rate rose to 4.9% in September. Retail sales in the country fell 0.4% compared with a year earlier.
Sweden’s household confidence reading climbed to 102.2 in September. The country’s business confidence index rose for a sixth straight month, reaching 109.3.
In the bond market, the U.S. 10 year yield slipped slightly to 5.23%. The UK 10 year yield rose to 5.39%, while Germany’s 10 year yield eased to 3.62%.
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