European Shares Climb As Oil And Bond Yields Ease From Recent Highs

(RTTNews) - European stocks were sharply higher on Tuesday as Brent crude prices dipped below $100 a barrel on signs of resilient Middle Eastern crude exports and Euro zone bond yields fell, helping reduce the spread between French and German 10-year yields.

Investors shrugged off data that showed German factory orders plunged 10.6 percent from the previous month in August, in contrast to the 3.2 percent rise in July.

Also, separate data showed Germany's construction sector contracted notably in September, led by a steep reduction in work on housing projects.

The pan-European STOXX 600 surged a little over 1 percent to 640.15 after rising 0.4 percent on Monday. The German DAX gained 1 percent and the U.K.'s FTSE 100 was up 0.9 percent.

France's CAC 40 traded up nearly 1 percent after falling 0.8 percent in the previous session amid concerns about France's fiscal outlook and political uncertainty ahead of the April 2027 elections.

In corporate news, Skanska shares advanced 1.4 percent. The Swedish engineering and construction firm said it has signed an additional contract valued at $138M (about SEK 1.3B) for construction of a tech facility in the United States.

Schneider Electric lost 2 percent. Shelly Group SE, a Bulgaria-based IoT and smart building solutions provider, announced that its board supports the takeover offer from the French energy technology major.

United Internet rallied 2.2 percent. The German internet services company said it would receive 35,352,929 new 1&1 shares at a calculated issue price of €24.05 per share.

Informa, a British publishing and exhibitions company, soared 4.2 percent after it decided to buy Clarion Events for £2.24 billion in cash from Blackstone Inc.

Clarkson, a provider of shipping services, jumped 6.3 percent after increasing its full-year profit before tax forecast.

Genmab skyrocketed 8 percent after the Danish biotech firm and its U.S. partner AbbVie announced positive results from another Phase III trial testing epcoritamab alongside R-CHOP.