BRUSSELS (dpa-AFX) - German stocks climbed higher on Tuesday, extending gains to a third straight session, as easing oil prices and bond yields lifted sentiment.
Oil prices fell sharply as Russia partially lifted its diesel export restrictions, helping ease supply constraints in global fuel markets.
Brent crude prices fell to $104.40 a barrel, losing about 2%.
According to Reuters, Russia expects to increase diesel exports from 3 million to 3.5 million metric tons per month by the end of 2026, returning to the levels seen before the crisis and potentially exceeding volumes announced by U.S. President Donald Trump.
Russia said EU countries bought $320.7 billion in hydrocarbons since 2022 despite sanctions, including $21.3 billion in 2026.
The benchmark DAX, which rose to 25,452.39 earlier, was up 110.98 points or 0.44% at 25,388.66 nearly half an hour past noon.
Zalando surged more than 7.5%. Siemens, Bayer, Siemens Healthineers, Fresenius and Symrise climbed 4.2%-5.3%.
Fresenius Medical Care, RWE, Gea Group and Henkel advanced 3.2%-4%. Rheinmetall, Deutsche Bank, Heidelberg Materials, Siemens Energy, Vonovia, BMW, Commerzbank, Allianz and Deutsche Telekom gained 2%-3%.
Qiagen, Deutsche Boerse, Brenntag, Deutsche Post, Munich RE, Mercedes-Benz, E.ON, MTU Aero Engines, Merck, Hannover RE, Hochtief and Adidas also moved notably higher.
Infineon Technologies shed about 4.2% amid growing competition from China's CXMI and on renewed doubts over AI investment returns.
Data from the statistical office Destatis showe Germany's inflation accelerated to the highest level since late 2023 in September due to higher energy prices.
The consumer price index rose 3.3% year-on-year in September, following a 2.9% increase in August. The rate came in line with the flash estimate published on September 30 and also hit the strongest since December 2023, when it was 3.7%.
The EU measure of inflation that is based on the harmonized index of consumer price or HICP climbed to 3.3%, as estimated, from 2.9% in the previous month.
Core inflation that excludes food and energy prices remained unchanged at 2.4% in September, data showed.
On a monthly basis, consumer prices climbed 0.6% in September. The HICP also moved up 0.6% after rising 0.2% in the previous month. Both rates matched the preliminary estimates.
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