European equities remained firmly higher at noon on Wednesday, supported by industrial, technology and mining shares. The BEL 20 outperformed most regional benchmarks, with Elia, Umicore and Melexis among the strongest Belgian stocks.
By FinanceMarkets.info — August 5, 2026, 12:00 CEST
European stock markets extended their advance around midday on Wednesday, August 5, as strong corporate results, recovering technology shares and lower oil prices supported investor sentiment.
The pan-European STOXX 600 gained approximately 0.5% to trade near 660 points, setting another intraday record after closing at an all-time high on Tuesday.
Germany’s DAX and Belgium’s BEL 20 were among the stronger national indices. London, Milan and Madrid also recorded gains, while the French and Dutch markets delivered more modest advances.
The session remained highly selective. Siemens Energy rallied following record quarterly results, while Novo Nordisk fell despite raising its annual forecasts. In Brussels, utilities, semiconductors and materials stocks led the market higher.
European indices at 12:00 CEST
| Market | Index | Midday performance |
|---|---|---|
| Europe | STOXX Europe 600 | Around +0.5% |
| Belgium | BEL 20 | Around +0.8% |
| Germany | DAX | Around +0.7% |
| United Kingdom | FTSE 100 | Around +0.6% |
| Italy | FTSE MIB | Around +0.5% |
| Spain | IBEX 35 | Around +0.5% |
| France | CAC 40 | Around +0.2% |
| Netherlands | AEX | Around +0.2% |
Indicative figures recorded around midday. Index and share-price movements may change during the afternoon session.
STOXX 600 reaches another record
The STOXX Europe 600 rose to approximately 659.8 points, extending the record-breaking advance seen during the previous session.
Industrials, retailers, mining companies and selected technology stocks provided the strongest support. Energy shares remained less impressive as Brent crude traded below $79 per barrel following another decline in oil prices.
European stocks received a favourable lead from both Wall Street and Asia. The S&P 500 and Dow Jones Industrial Average closed at record highs on Tuesday, while Japan’s Nikkei 225 and South Korea’s Kospi recorded substantial gains overnight.
The broader rally continued to reflect optimism about artificial-intelligence infrastructure spending, although the negative after-hours reactions to AMD and SpaceX results demonstrated that technology valuations remain demanding.
Germany leads as Siemens Energy rallies
The DAX advanced approximately 0.7%, making Frankfurt one of Europe’s strongest major markets at midday.
Siemens Energy gained around 4.4% after publishing record third-quarter orders, revenue and profitability. Profit before special items more than tripled to €1.62 billion, while net income increased to €1.19 billion.
Free cash flow before tax rose to €2.32 billion, helped by stronger operating performance and customer advance payments linked to the company’s growing order book.
Siemens Gamesa also reported a positive quarterly result for the first time since fiscal 2022, reinforcing expectations that the wind-turbine division is progressing towards break-even.
Defence group Rheinmetall gained approximately 1.3%, while industrial and semiconductor shares also supported the German benchmark.
London supported by mining stocks
The FTSE 100 climbed approximately 0.6%, with mining companies among the leading contributors.
Fresnillo gained more than 5% as gold and silver prices surged. Spot gold rose to a one-month high above $4,170 per ounce, while silver advanced toward $62.
The weaker dollar and declining government-bond yields increased demand for precious metals. Mining companies also benefited from moderate gains in copper and other industrial metals.
Lower oil prices created a more mixed environment for London’s large energy companies, limiting the contribution from BP and Shell.
Paris records more modest gains
The CAC 40 increased by approximately 0.2%, underperforming Germany, Belgium and the United Kingdom.
Carrefour and electrical-equipment specialist Legrand were among the positive contributors. Luxury stocks were weaker, with LVMH falling approximately 1.4%.
The luxury sector remains sensitive to economic conditions in China, currency movements and evidence about consumer demand in the United States and Europe.
France’s relatively large exposure to luxury companies partly explains why the CAC 40 lagged the broader European market during the morning.
Novo Nordisk weighs on Copenhagen
Novo Nordisk remained one of Europe’s most prominent losers, falling approximately 4%–6% following its quarterly update.
The Danish pharmaceutical group raised its full-year sales and operating-profit forecasts, but investors focused instead on weaker-than-expected sales of its oral Wegovy treatment and concerns surrounding its research pipeline.
Recent clinical setbacks affecting CagriSema and other experimental products have increased uncertainty about the company’s ability to maintain rapid growth as competition in the obesity-drug market intensifies.
The negative reaction illustrates the increasingly demanding expectations facing Europe’s largest healthcare companies.
Brussels market: BEL 20 outperforms
The BEL 20 traded near 5,752 points around midday, gaining approximately 0.8% from Tuesday’s closing level of 5,707.14.
The Belgian benchmark opened near 5,732 points and moved toward an intraday high around 5,750–5,753. It remained within approximately 1% of its record high of 5,817.71 reached in July.
Most BEL 20 constituents traded higher, with particularly strong performances from Elia, Umicore, Melexis and UCB.
The index has gained approximately 23.5% over the past twelve months, making Brussels one of Europe’s stronger-performing equity markets during that period.
BEL 20 winners at midday
| Company | Sector | Approximate move |
|---|---|---|
| Elia Group | Electricity infrastructure | +3.5% |
| Umicore | Materials and battery technology | +3.2% |
| Melexis | Semiconductors | +2.5% |
| Azelis | Specialty chemicals distribution | +1.9% |
| UCB | Pharmaceuticals | +1.7% |
| Aperam | Stainless steel | +1.0% |
| Syensqo | Specialty materials | +1.0% |
| WDP | Logistics real estate | +1.0% |
| Ackermans & van Haaren | Diversified holdings | +0.9% |
| Ageas | Insurance | +0.9% |
Elia leads Brussels
Elia Group was the strongest BEL 20 constituent, gaining approximately 3.5%.
The electricity-grid operator benefited from continued investor interest in European energy infrastructure. The rapid expansion of renewable electricity, data centres and industrial electrification requires extensive investment in transmission networks.
This structural demand has made electricity infrastructure one of the market’s favoured long-term themes, although high capital expenditure and financing costs remain important risks.
Umicore and Melexis gain
Umicore advanced more than 3%, recovering after a period of pressure linked to uncertainty surrounding battery-material demand and electric-vehicle growth.
Melexis gained approximately 2.5% as European semiconductor stocks followed the strong overnight rebound in Asian and US technology shares.
The Belgian chipmaker produces sensors and semiconductor components used primarily in the automotive industry. Its shares remain sensitive to vehicle-production forecasts and the pace of automotive inventory adjustments.
UCB supports the index
UCB rose approximately 1.7%, contrasting with the sharp decline in Novo Nordisk.
The Belgian pharmaceutical group has benefited from confidence in the commercial prospects of its newer treatments and from a stronger growth outlook. Its relatively large weight means that the advance made a meaningful contribution to the BEL 20’s performance.
BEL 20 laggards
| Company | Sector | Approximate move |
|---|---|---|
| Solvay | Chemicals | -0.6% |
| AB InBev | Beverages | Around unchanged to slightly lower |
| Groupe Bruxelles Lambert | Investment holding | Around unchanged |
| KBC Group | Banking | Limited gain or slight decline |
| Montea | Logistics real estate | Modest gain |
| Argenx | Biotechnology | Modest gain |
Solvay was the clearest BEL 20 loser around midday, declining approximately 0.6%.
AB InBev and Groupe Bruxelles Lambert traded close to unchanged, while KBC lagged the broader Belgian index.
The precise ranking changed during the morning as liquidity and delayed-price feeds produced small differences between market-data providers. The overall picture nevertheless remained clear: advancing BEL 20 constituents substantially outnumbered declining stocks.
Why European markets are rising
Three factors supported the midday advance.
First, corporate earnings remained generally stronger than expected. Siemens Energy’s results provided the latest evidence that European industrial companies are benefiting from infrastructure, electrification and data-centre investment.
Second, oil prices continued to decline as markets assessed the possibility of diplomatic progress concerning Iran and the Strait of Hormuz. Lower energy prices reduce costs for industrial companies, airlines and consumers.
Finally, technology sentiment improved substantially following strong gains on Wall Street and in Asia. Semiconductor shares recovered as investors returned to the AI investment theme after the recent correction.
Risks for the afternoon session
Despite the positive tone, several risks could influence trading before the European close.
Oil markets remain highly dependent on unconfirmed diplomatic developments. A failure to reopen the Strait of Hormuz could quickly restore the geopolitical premium in crude prices.
Investors are also preparing for important US labour-market data. Strong employment figures could increase expectations of another Federal Reserve rate rise, pushing bond yields higher and placing pressure on equity valuations.
Wall Street futures and the US response to recent corporate results will provide an additional direction after the New York opening.
For now, European markets remain firmly positive at midday. The BEL 20 is outperforming the broader region, supported by Elia, Umicore, Melexis and UCB, while the wider European rally continues to favour industrial, mining and selected technology shares.
Sources: Barron’s – European stocks extend record highs, Reuters – Global markets update, Euronext – BEL 20 market information, Markets Insider – BEL 20 constituents and prices, Trading Economics – Belgium stock market, Siemens Energy – Q3 2026 results.
